Abstract
A principal postulate of the philosophy of science is that empirical theories should be subjected to the most severe tests possible. In econometrics, testing a theory is usually done by constructing an econometric model and performing a formal specification test. This study deviates from mainstream econometric practice in that it emphasizes the relevance of stylized facts for evaluating models.
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© 1995 Physica-Verlag Heidelberg
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Reiter, M. (1995). Importance of Stylized Facts. In: The Dynamics of Business Cycles. Contributions to Economics. Physica-Verlag HD. https://doi.org/10.1007/978-3-642-95919-6_2
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DOI: https://doi.org/10.1007/978-3-642-95919-6_2
Publisher Name: Physica-Verlag HD
Print ISBN: 978-3-7908-0823-0
Online ISBN: 978-3-642-95919-6
eBook Packages: Springer Book Archive