Tag Archives: Statistics & Econometrics

Against multiple regression analysis Distinguished social psychologist Richard E. Nisbett has a somewhat atypical aversion to multiple regression analysis . In his Intelligence and How to Get It (Norton 2011) he wrote (p. 17): Researchers often determine the individual’s contemporary IQ or IQ earlier in life, socioeconomic status of the family of origin, living circumstances when the individual was a child, number of siblings, whether the family had a library card, educational attainment...

There have been over four decades of econometric research on business cycles … The formalization has undeniably improved the scientific strength of business cycle measures … But the significance of the formalization becomes more difficult to identify when it is assessed from the applied perspective, especially when the success rate in ex-ante forecasts of recessions is used as a key criterion. The fact that the onset of the 2008 financial-crisis-triggered recession was predicted by only a...