Middlebury

MiddLab

This paper asks the question: Why has the general-to-specific cointegrated VAR approach as developed in Europe had only limited success in the US as a tool for doing empirical macroeconomics, where what might be called a theory comes first approach dominates? The reason this paper highlights is the incompatibility of the European approach with the US focus on the journal publication metric for advancement. Specifically, the European general-to specific cointegrated VAR approach requires researcher judgment to be part of the analysis, and the US focus on a journal publication metric discourages such research methods. The US theory comes first approach fits much better with the journal publication metric.

People

Related Links

Downloads

Connections

This project is included in these themes:
MiddTags
Sites DOT Middlebury: the Middlebury site network.