Julio Huato wrote: > Quick comment: Sims is the guy who popularized the "theory-minimizing" > approach to the modeling of time series (e.g. VAR estimation).
it's nothing but the crudest kind of empiricism. And you thought that sociologists were bad for using factor analysis. All that VAR consists of seeing what's correlated with what, just as in factor analysis. But the valid approach to econometrics is hypothesis testing -- not this "let's see what fits" approach. -- Jim Devine / "In an ugly and unhappy world the richest man can purchase nothing but ugliness and unhappiness." -- George Bernard Shaw _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
