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The Econometrics Journal, which was established by the Royal Economic Society. [19] The Journal of Econometrics, which also publishes the supplement Annals of Econometrics. [20] Econometric Theory, which is a theoretical journal. [21] The Journal of Applied Econometrics, which applies econometrics to a wide various problems. [22]
Transformation problem: The transformation problem is the problem specific to Marxist economics, and not to economics in general, of finding a general rule by which to transform the values of commodities based on socially necessary labour time into the competitive prices of the marketplace. The essential difficulty is how to reconcile profit in ...
The endogeneity problem is particularly relevant in the context of time series analysis of causal processes. It is common for some factors within a causal system to be dependent for their value in period t on the values of other factors in the causal system in period t − 1. Suppose that the level of pest infestation is independent of all ...
The problems of economic growth have been discussed by numerous growth models, including the Harrod-Domar model, the neoclassical growth models of Solow and Swan, and the Cambridge growth models of Kaldor and Joan Robinson. This part of the economic problem is studied in the economies of development.
In economics and econometrics, the parameter identification problem arises when the value of one or more parameters in an economic model cannot be determined from observable variables.
A good economic theory should be built on sound economic principles tested on many free markets, and proven to be valid. However, empirical facts have been alleged to indicate that the principles of economics hold only under very limited conditions that are rarely met in real life, and there is no scientific testing methodology available to ...
Economic variables are not readily isolated for experimental testing, but Edward Leamer argues that there is no essential difference between econometric analysis and randomized trials or controlled trials provided the use of statistical techniques reduces the specification bias, the effects of collinearity between the variables, to the same ...
Mathematical economics is the application of mathematical methods to represent theories and analyze problems in economics.Often, these applied methods are beyond simple geometry, and may include differential and integral calculus, difference and differential equations, matrix algebra, mathematical programming, or other computational methods.