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- W2023759353 abstract "The roles of evaluation, discovery, and theory in modeling economic time series are analyzed. Being reductions of data processes, models reflect economic behavior, filtered by the measurement system; the reductions entail a taxonomy of information sets and hence of selection criteria characterizing congruency. No method of model construction is necessarily valid, but search affects only research efficiency, not the intrinsic usefulness of a model. Moreover, critical evaluation remains justifiable, with predictive failure revealing the information content of tiny samples, and encompassing sustaining progressivity. Theory-models of start and completions of private dwellings based on dynamized static equilibria and intertemporal optimization are contrasted. Empirical modeling illustrates the analysis." @default.
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- W2023759353 date "1986-11-01" @default.
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- W2023759353 title "Empirical modeling in dynamic econometrics" @default.
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- W2023759353 doi "https://doi.org/10.1016/0096-3003(86)90006-8" @default.
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