Structural Modeling under Challenge
Published By: CDE on ess | Published Date: November, 28 , 2001It is interesting to note that nearly three decades of new paradigms in
macroeconomic theory and policy have hardly gone beyond the ivory towers of the
academic world. The extent to which a scientific discipline is open to new ideas and approaches is a measure of its health. The enrichment of econometric methodology in recent decades leading to what is some times called "new econometrics" is not only natural but also welcome. The critical question however, is whether the new ideas are an outgrowth of earlier wisdom or a total negation of it. Since this is largely a matter of subjective assessment views would be considerably different.
Author(s): V. Pandit | Posted on: Aug 28, 2008 | Views(2117) | Download (653)