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Monday, June 26, 2006

Micro/macro econometrics

Is the disticntion between micro (inference, choice, panel) and macro (time series) econometrics still valid? Where are the two fields meeting? Surely micro processes should underly dynamic macro structures.

1 comment:

Jimmy Reade said...

Surely the place macro and micro econometrics meet is in (dynamic) panel data, where you have your i's and your t's all at the same time?!

I think that while the macroeconomy exists, there'll be a need for macroeconomics to consider things like policy determination, and while people in macro still try to pretend to do macroeconometrics but reality simply dream up numbers that support their prior hypotheses, there will be discussion on how properly to do macroeconometrics.