1,721,073 research outputs found

    Recensione: Francesco Guala, Filosofia dell'economia, 2006

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    2R - Rivista di Recensioni Filosofich

    Causalità€ in economia, Econometria

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    Voci di enciclopedia in V. Melchiorre (ed.), Enciclopedia Filosofica, Bompiani, Milan

    Causality in macroeconometrics: some considerations about reductionism and realism

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    This paper investigates the varieties of reductionism and realism about causal relations in macroeconometrics. There are two issues, which are kept distinct in the analysis but which are interrelated in the development of econometrics. The first one is the question of the reducibility of causal relations to regularities, measured in statistics by correlations. The second one is the question of the reducibility of causes among macroeconomic aggregates to microeconomic behaviour. It is argued that there is a continuum of possible positions between realism and reductionism for both the questions, but, as far as the second question is concerned, the dominant position of mainstream macroeconometrics is strongly reductionist. The paper defends an integrative approach that emphasizes the gradual nature of many real world cases.causality, realism, reductionism, econometric models, identification problem,

    Graphical causal models and VARs: an empirical assessment of the real business cycles hypothesis

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    Structural VARs, Directed acyclic graphs, Business cycles, Causality, Impulse response functions, C32, C49, E32,
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