Abstract
When I took his course, Lawrence Klein introduced his lectures in econometrics by indicating that econometricians wear two hats. In formulating behavioral relations, we wear a theorist’s hat since we assume the parameters of the behavioral relations to be known. In estimating the parameters, we wear a statistician’s hat since we take the behavioral relations as given.
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© 2002 Springer Science+Business Media Dordrecht
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Marquez, J. (2002). Modeling Considerations. In: Estimating Trade Elasticities. Advanced Studies in Theoretical and Applied Econometrics, vol 39. Springer, Boston, MA. https://doi.org/10.1007/978-1-4757-3536-9_2
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DOI: https://doi.org/10.1007/978-1-4757-3536-9_2
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4419-5300-1
Online ISBN: 978-1-4757-3536-9
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