Model building in economics: its purposes and limitations
Saved in:
| Main Author: | |
|---|---|
| Format: | Book |
| Language: | English |
| Published: |
New York, NY
Cambridge Univ. Press
2014
|
| Edition: | 1. publ. |
| Subjects: | |
| Online Access: | Inhaltsverzeichnis |
| Physical Description: | XIX, 276 S. |
| ISBN: | 9781107673472 110767347X 9781107032941 |
Staff View
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Record in the Search Index
| _version_ | 1804152647133954048 |
|---|---|
| adam_text | CONTENTS
PREFACE P
A
S
EXI
ACKNOWLEDGEMENTS
XIX
PROLOGUE: MODEL BUILDING YESTERDAY VERSUS TODAY 1
1 REPRESENTATIVE MODELS OF YESTERDAY * 2
2 THEORETICAL VERSUS EMPIRICAL MODELS TODAY 5
3 MODELS AS INSTRUMENTS 8
4 OUTLINE OF BOOK 14
PART I THEORETICAL MODELS
1 MICROECONOMIC VERSUS MACROECONOMIC THEORETICAL MODEL
BUILDING ^
1.1 THE NATURE OF THEORETICAL MICROECONOMIC MODELS: THE
NECESSARY INGREDIENTS 21
1.2 THE NATURE OF THEORETICAL MACROECONOMIC MODELS 26
1.3 THE STATIC-VERSUS-DYNAMIC BASIS FOR DISTINGUISHING MICRO
FROM MACRO 38
1.4 THE PURPOSES OF BUILDING A THEORETICAL MACRO MODEL
VERSUS A MICRO MODEL 44
2 ON THE LIMITATIONS OF EQUILIBRIUM MODELS IN GENERAL 46
2.1 TIME IN ECONOMIC MODELS OR ECONOMIC MODELS IN TIME? 47
2.2 EQUILIBRIUM VERSUS BALANCE 48
2.3 CONSISTENT AND COMPLETE EXPLANATIONS 50
2.4 EXISTENCE VERSUS UNIQUENESS 52
2.5 EQUILIBRIUM STABILITY ANALYSIS 54
2.6 MONEY AND TIME IN EQUILIBRIUM MODELS 54
2.7 EXPECTATIONS AND KNOWLEDGE IN EQUILIBRIUM MODELS 56
VLL
VIII CONTENTS
2.8 EQUILIBRIUM MODELS IN MACROECONOMICS AND THE ALLEGED
NEED FOR MICRO-FOUNDATIONS
2.9 LESS DEMANDING CONCEPTS OF EQUILIBRIUM: SELF-CONFIRMING
AND STOCHASTIC
61
2.10 LIMITS TO THE USEFULNESS OF EQUILIBRIUM MODELS IN GENERAL 63
3 ON BUILDING THEORETICAL MODELS USING GAME THEORY 67
3.1 GAME-THEORETIC ECONOMIC MODELS: A BRIEF ELEMENTARY REVIEW 69
3.2 USING GAME-THEORETIC ECONOMIC MODELS 0
3.3 THE NECESSARY INGREDIENTS FOR GAME-THEORETIC
ECONOMIC MODELS ^
3.4 DEALING WITH QUESTIONABLE EQUILIBRIUM SOLUTIONS 74
3.5 WHAT DO GAME-THEORETIC MODELS REPRESENT?
7
^
4 ON THE PURPOSE AND LIMITATIONS OF GAME-THEORETIC MODELS 78
4.1 DEALING WITH THE KNOWLEDGE OF GAME PLAYERS 79
4.2 ARE GAME-THEORETIC MODELS AS LIMITED AS CRITICS CLAIM? 92
PART II EMPIRICAL MODELS
5 MICROECONOMIC VERSUS MACROECONOMIC EMPIRICAL MODEL
BUILDING 97
5.1 EMPIRICAL MICROECONOMIC MODEL BUILDING 98
5.2 EMPIRICAL MACROECONOMIC MODEL BUILDING 100
6 ON BUILDING MACRO-ECONOMETRIC MODELS 105
6.1 THE FIRST TWO FORKS IN THE ROAD FOR BUILDING
MACRO-ECONOMETRIC MODELS 106
6.2 GENERAL-EQUILIBRIUM MODELS AS MICRO-FOUNDATIONS 108
6.3 DYNAMIC STOCHASTIC GENERAL EQUILIBRIUM (DSGE) MODELS 110
6.4 LIMITS AND CRITICISM OF THE DSGE APPROACH TO EMPIRICAL
MODELING 116
6.5 THE CVAR ALTERNATIVE TO THE DSGE APPROACH TO EMPIRICAL
MODELING 117
6.6 BEYOND DSGE MODELS 119
7 MODELING AND FORECASTING 123
7.1 THE ELEMENTS OF MODEL BUILDING IN GENERAL 125
7.2 USING MODELS TO MAKE PREDICTIONS 133
7.3 MODELS AS THE BASIS FOR BUSINESS FORECASTS 136
7.4 THE REQUIREMENTS FOR STRUCTURAL DYNAMIC FORECASTMG MODELS 137
7.5 THE ROCKY HISTORY OF ECONOMETRICS-BASED FORECASTING 139
7.6 IS IT POSSIBLE TO OVERCOME THE METHODOLOGICAL OBSTACLES? 143
CONTENTS IX
PART III TESTING AND MODELS
S ON THE ROLE AND LIMITATIONS OF EXPERIMENTAL AND BEHAVIOURAL
ECONOMICS
;
149
8.1 EXPERIMENTAL ECONOMIC MODEL BUILDING 150
8.2 THE LOGICAL PROBLEMS FACING EXPERIMENTALIST MODEL BUILDING 153
8.3 AVOIDING THE DUHEM-QUINE LOGICAL PROBLEM 154
8.4 USING EXPERIMENTAL MODELS 155
8.5 LABORATORY-BASED EXPERIMENTAL MACROECONOMIC MODELS 159
8.6 MODELS AND BEHAVIOURAL ECONOMICS 162
8.7 MODELS AND EVOLUTIONARY ECONOMICS 166
9 THE LOGICAL ADEQUACY OF CONVINCING TESTS OF MODELS USING
EMPIRICAL DATA 171
9.1 TESTING VERSUS MERE TESTABILITY OF MODERN ECONOMICS 174
9.2 THE BASIC LOGIC OF MODEL BUILDING FOR THE PURPOSE OF TESTING
ECONOMIC HYPOTHESES 176
9.3 OVERCOMING THE AMBIGUITY OF DIRECT MODEL REFUTATION 180
9.4 STOCHASTICISM AND ECONOMETRIC MODELS 188
9.5 ASYMMETRIES IN TESTS BASED ON STOCHASTIC MODELS 191
10 THE STATISTICAL ADEQUACY OF CONVINCING TESTS OF MODELS USING
EMPIRICAL DATA 203
10.1 THE PURPOSE OF TESTING WITH ROBUST STATISTICAL ESTIMATION 204
10.2 STATISTICAL ADEQUACY OF NON-EXPERIMENTAL DATA 207
10.3 DATA MINING AND PRE-TEST BIAS? 213
10.4 PUTTING THINGS TOGETHER 217
PART IV METHODOLOGICAL CONSIDERATIONS
11 MODEL BUILDING FROM A PHILOSOPHY OF SCIENCE PERSPECTIVE 221
11.1 TYPES OF MODEL RECOGNIZED BY PHILOSOPHERS OF ECONOMICS 223
11.2 PHILOSOPHY OF SCIENCE S ONLY RELEVANCE TO ECONOMIC
MODEL BUILDERS 225
11.3 BLACK BOXES VERSUS TRANSPARENT BOXES, 230
12 CHOOSING MODEL-BUILDING METHODS 232
12.1 SOCIOLOGICAL IMPLICATIONS OF A CHOICE OF MODELING METHODS 233
12.2 HISTORICAL IMPLICATIONS OF A CHOICE OF MODELING METHODS 236
12.3 METHODOLOGICAL IMPLICATIONS OF A CHOICE OF MODELING
METHODS 238
12.4 CONCLUDING REMARKS FOR HONEST MODEL BUILDERS
IN ECONOMICS 240
X CONTENTS
EPILOGUE: AGAINST PUTTING IDEOLOGY AHEAD OF REALISM 241
1 REMEMBERING THE 1960S, 1970S, AND 1980S 242
2 IT IS ALL ABOUT ASSUMPTIONS 243
3 ELEMENTARY LOGIC AND REALISM 243
4 FRIEDMAN AND INSTRUMENTALISRN 245
5 MATHEMATICAL MODELING: WHEN THE LEFT HAND DOES NOT KNOW
WHAT THE RIGHT HAND IS DOING 247
6 THE INSTITUTIONALIZATION OF THE MATHEMATICIAN S CULTURE 248
7 THE TEXTBOOK THEORY OF THE FIRM VERSUS THE IDEOLOGY OF THE
MARKET ECONOMY 250
8 CONCLUDING REMARKS 251
BIBLIOGRAPHY 253
NAME INDEX 269
SUBJECT INDEX 273
|
| any_adam_object | 1 |
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| dewey-full | 330.01/5195 |
| dewey-hundreds | 300 - Social sciences |
| dewey-ones | 330 - Economics |
| dewey-raw | 330.01/5195 |
| dewey-search | 330.01/5195 |
| dewey-sort | 3330.01 45195 |
| dewey-tens | 330 - Economics |
| discipline | Wirtschaftswissenschaften |
| edition | 1. publ. |
| format | Book |
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| indexdate | 2024-07-10T01:14:02Z |
| institution | BVB |
| isbn | 9781107673472 110767347X 9781107032941 |
| language | English |
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| physical | XIX, 276 S. |
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| spelling | Boland, Lawrence A. 1939- Verfasser (DE-588)170138437 aut Model building in economics its purposes and limitations Lawrence A. Boland 1. publ. New York, NY Cambridge Univ. Press 2014 XIX, 276 S. txt rdacontent n rdamedia nc rdacarrier Wirtschaftswissenschaften (DE-588)4066528-8 gnd rswk-swf Makroökonomisches Modell (DE-588)4074486-3 gnd rswk-swf Modellierung (DE-588)4170297-9 gnd rswk-swf Ökonometrie (DE-588)4132280-0 gnd rswk-swf Methode (DE-588)4038971-6 gnd rswk-swf Wirtschaftswissenschaften (DE-588)4066528-8 s Makroökonomisches Modell (DE-588)4074486-3 s Modellierung (DE-588)4170297-9 s Methode (DE-588)4038971-6 s Ökonometrie (DE-588)4132280-0 s b DE-604 Erscheint auch als Online-Ausgabe 978-1-139-50768-4 SWB Datenaustausch application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027593434&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
| spellingShingle | Boland, Lawrence A. 1939- Model building in economics its purposes and limitations Wirtschaftswissenschaften (DE-588)4066528-8 gnd Makroökonomisches Modell (DE-588)4074486-3 gnd Modellierung (DE-588)4170297-9 gnd Ökonometrie (DE-588)4132280-0 gnd Methode (DE-588)4038971-6 gnd |
| subject_GND | (DE-588)4066528-8 (DE-588)4074486-3 (DE-588)4170297-9 (DE-588)4132280-0 (DE-588)4038971-6 |
| title | Model building in economics its purposes and limitations |
| title_auth | Model building in economics its purposes and limitations |
| title_exact_search | Model building in economics its purposes and limitations |
| title_full | Model building in economics its purposes and limitations Lawrence A. Boland |
| title_fullStr | Model building in economics its purposes and limitations Lawrence A. Boland |
| title_full_unstemmed | Model building in economics its purposes and limitations Lawrence A. Boland |
| title_short | Model building in economics |
| title_sort | model building in economics its purposes and limitations |
| title_sub | its purposes and limitations |
| topic | Wirtschaftswissenschaften (DE-588)4066528-8 gnd Makroökonomisches Modell (DE-588)4074486-3 gnd Modellierung (DE-588)4170297-9 gnd Ökonometrie (DE-588)4132280-0 gnd Methode (DE-588)4038971-6 gnd |
| topic_facet | Wirtschaftswissenschaften Makroökonomisches Modell Modellierung Ökonometrie Methode |
| url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=027593434&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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