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Time series econometrics: a critique
- 1.0454752 - NHU-C 2016 RIV US eng J - Journal Article
Kmenta, Jan
Time series econometrics: a critique.
Open Journal of Applied Sciences. Roč. 5, č. 12 (2015), s. 841-843. ISSN 2165-3917
Institutional support: PRVOUK-P23
Keywords : time series econometrics * trends * cointegration
Subject RIV: AH - Economics
This is a critical note regarding the currently established econometrics of time series. The criticism involves commonly practiced mechanistic modeling and testing of relationships, taking econometrics away from economics. Among others, modeling economic trends as simple functions of
time is extremely naive and testing for cointegration lacks a proper economic foundation.
Permanent Link: http://hdl.handle.net/11104/0255401
Number of the records: 1