Time Series Econometrics: A Critique ()
Abstract
This is a critical note regarding the currently established econometrics of time series. The criticism involves commonly practiced mechanistic modeling and testing of relationships, taking econometrics away from economics. Among others, modeling economic trends as simple functions of time is extremely naive and testing for cointegration lacks a proper economic foundation.
Share and Cite:
Kmenta, J. (2015) Time Series Econometrics: A Critique.
Open Journal of Applied Sciences,
5, 841-843. doi:
10.4236/ojapps.2015.512081.
Conflicts of Interest
The authors declare no conflicts of interest.
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