Modeling Considerations

  • Jaime Marquez
Part of the Advanced Studies in Theoretical and Applied Econometrics book series (ASTA, volume 39)

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.

Keywords

Real Exchange Rate Price Elasticity Forecast Period Elasticity Estimate World Export 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 2002

Authors and Affiliations

  • Jaime Marquez
    • 1
  1. 1.Federal Reserve BoardUSA

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