Browsing by Author "Hoover, KD"
Now showing items 1-20 of 23
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A bootstrap method for identifying and evaluating a structural vector autoregression
(Oxford Bulletin of Economics and Statistics, 2008-08-01)Graph-theoretic methods of causal search based on the ideas of Pearl (2000), Spirtes et al. (2000), and others have been applied by a number of researchers to economic data, particularly by Swanson and Granger (1997) to ... -
Against Psychosis: A Review of Roman Frydman and Michael D. Goldberg’s Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State
(CHOPE Working Paper, 2012-01-18)A review essay of Roman Frydman & Michael D. Goldberg’s Beyond Mechanical Markets: Asset Price Swings, Risk, and the Role of the State. -
Allowing the data to speak freely: The macroeconometrics of the cointegrated vector autoregression
(American Economic Review, 2008-05-01) -
Automatic inference of the contemporaneous causal order of a system of equations
(Econometric Theory, 2005-02-01) -
Empirical Identification of the Vector Autoregression: The Causes and Effects of U.S. M2
(2008)The M2 monetary aggregate is monitored by the Federal Reserve, using a broad brush theoretical analysis and an informal empirical analysis. This paper illustrates empirical identification of an eleven-variable system, in ... -
Experiments, Passive Observation and Scenario Analysis: Trygve Haavelmo and the Cointegrated Vector Autoregression
(Univ. of Copenhagen Dept. of Economics Discussion Paper, 2012-11-05)The paper provides a careful, analytical account of Trygve Haavelmo's unsystematic, but important, use of the analogy between controlled experiments common in the natural sciences and econometric techniques. The experimental ... -
Idealizing Reduction: The Microfoundations of Macroeconomics
(Erkenntnis, 2010-11-01)The dominant view among macroeconomists is that macroeconomics reduces to microeconomics, both in the sense that all macroeconomic phenomena arise out of microeconomic phenomena and in the sense that macroeconomic theory-to ... -
In the Kingdom of Solovia: The rise of growth economics at MIT, 1956–70
(History of Political Economy, 2014-01-01)© 2015 by Duke University Press.From its flow tide, fueled by the Cold War, to its ebbing with the anti-growth movement and the economic crises of the early 1970s, the “growthmen” of MIT stood at the center of the dominant ... -
John Maynard Keynes of Bloomsbury: Four Short Talks
(2009)on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce ... -
MATHEMATICAL ECONOMICS COMES to AMERICA: CHARLES S. PEIRCE'S ENGAGEMENT with COURNOT'S
(Journal of the History of Economic Thought, 2015-11-12)© The History of Economics Society 2015.Although Cournot's mathematical economics was generally neglected until the mid-1870s, he was taken up and carefully studied by the Scientific Club of Cambridge, Massachusetts, even ... -
Measuring causes: Episodes in the quantitative assessment of the value of money
(History of Political Economy, 2001-12-01) -
Milton Friedman's Stance: The Methodology of Causal Realism
(2004)Milton Friedman is usually regarded as an instrumentalist on the basis of his infamous claim that economic theories are to be judged by their predictions and not by the realism of their assumptions. This interpretation sits ... -
Post hoc ergo propter once more an evaluation of 'does monetary policy matter?' in the spirit of James Tobin
(Journal of Monetary Economics, 1994-01-01)Christina and David Romer's paper 'Does Monetary Policy Matter?' advocates the so-called 'narrative' approach to causal inference. We demonstrate that this method will not sustain causal inference. First, it is impossible ... -
Solow's Harrod: Transforming Cyclical Dynamics into a Model of Long-Run Growth
(Economic Research Initiatives at Duke (ERID), 2013-03-27)Modern growth theory derives mostly from Robert Solow’s “A Contribution to the Theory of Economic Growth” (1956). Solow’s own interpretation locates the origins of his “Contribution” in his view that the growth model of ... -
Some causal lessons from macroeconomics
(Journal of Econometrics, 2003-01-01)Some of the well-posed causal aspects from macroeconomics were discussed. The causal lessons were supported by the vector-autoregression (VAR) framework of macroeconomics which was analogous to the panel-data approach. The ... -
Sound and fury: McCloskey and significance testing in economics
(Journal of Economic Methodology, 2008-03-01)For more than 20 years, Deidre McCloskey has campaigned to convince the economics profession that it is hopelessly confused about statistical significance. She argues that many practices associated with significance testing ... -
The causal direction between money and prices. An alternative approach
(Journal of Monetary Economics, 1991-01-01)Causality is viewed as a matter of control. Controllability is captured in Simon's analysis of causality as an asymmetrical relation of recursion between variables in the unobservable data-generating process. Tests of the ... -
The neoclassical growth model and twentieth-century economics
(History of Political Economy, 2009-12-01) -
The ontological status of shocks and trends in macroeconomics
(Synthese, 2015-11-01)© 2014, Springer Science+Business Media Dordrecht.Modern empirical macroeconomic models, known as structural autoregressions (SVARs) are dynamic models that typically claim to represent a causal order among contemporaneously ... -
The Past as the Future: The Marshallian Approach to Post-Walrasian Econometrics
(2004-10-13)The popular image of the scientific revolution usually pits young revolutionaries against old conservatives. Freeman Dyson (2004, p. 16) observes that, in particle physics in the mid-20th century, something had to change. ...
