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Economic News, Data and Analysis

What is Econometrics? Art or Science?

The four golden
rules of econometrics:


  
1. Think brilliantly,


  
2. Be infinitely creative,


  
3. Be outstandingly lucky,


  
4. Otherwise, stick to being a theorist

–David Hendry
(as quoted by Hiroyuki Kawakatsu here)

Econometrics
is..

The American Heritage
Dictionary (Fourth Edition) defines econometrics as the “[a]pplication
of mathematical and statistical techniques to economics in the study of
problems, the analysis of data, and the development and testing of theories
and models.”

It’s three primary
uses include:

  
1) Forecasting

  
2) Hypothesis testing

  
3) Measurement of parameters

More on the
web:



Econometric Resources on the web


The
Econometric Society


EconometricLinks.com
from the Econometrics Journal online

Econometrics
World
from Gilbert Lui

For students
/ learning


Glossary

Statistics
Textbook: StatSoft

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