Munich Personal RePEc Archive

Methodological mistakes and econometric consequences

Zaman, Asad (2012): Methodological mistakes and econometric consequences. Published in: International Econometric Review , Vol. 4, No. 2 (1. September 2012): pp. 99-122.

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Abstract

Econometric Methodology is based on logical positivist principles. Since logical positivism has collapsed, it is necessary to re-think these foundations. We show that positivist methodology has led econometricians to a meaningless search for patterns in the data. An alternative methodology which relates observed patterns to real causal structures is proposed

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