Points of View, Scientific Theories and Econometric Models
- 1 June 1970
- journal article
- Published by Cambridge University Press (CUP) in Philosophy of Science
- Vol. 37 (2) , 249-260
- https://doi.org/10.1086/288298
Abstract
The relationship between a class of structural forms and a single reduced form econometric model is discussed. These are shown to be empirically equivalent. It is made clear that choice of a particular structural form for estimation, rather than another of the same class, rests on a priori heuristic and computational considerations, not on empirical or logical grounds.Alternative scientific strategies are discussed briefly.Keywords
This publication has 4 references indexed in Scilit:
- Underidentification, Structural Estimation, and ForecastingEconometrica, 1960
- A Generalized Classical Method of Linear Estimation of Coefficients in a Structural EquationEconometrica, 1957
- A Simple Forecasting Model for the U.S. EconomyStaff Papers, 1955
- Toward Partial Redirection of EconometricsThe Review of Economics and Statistics, 1952