This file is part of IDEAS, which uses RePEc data


[ Papers | Articles | Software | Books | Chapters | Authors | Institutions | JEL Classification | NEP reports | Search | New papers by email | Author registration | Rankings | Volunteers | FAQ | Blog | Help! ]

Alternative Approaches to Analyzing Economic Data

Author info | Abstract | Publisher info | Download info | Related research | Statistics
Author Info
Friedman, Milton
Schwartz, Anna J

Additional information is available for the following registered author(s):

Abstract

This paper compares two approaches to the analysis of economic data: the exclusively econometric approach recommended by Hendry and Ericsson and the more eclectic approach that we employed in our books MONETARY HISTORY and MONETARY TRENDS. It concludes that the article by Hendry and Ericsson is mislabeled. Their article is not in any relevant sense an evaluation of our "empirical model of U.K. money demand." Rather, it uses one equation from our book as a peg on which to hang an exposition of sophisticated econometric techniques. Insofar as their empirical findings do bear on ours, they simply confirm some of our principal results and contradict none. Copyright 1991 by American Economic Association.

Download Info
To download:

If you experience problems downloading a file, check if you have the proper application to view it first. Information about this may be contained in the File-Format links below. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.

File URL: http://links.jstor.org/sici?sici=0002-8282%28199103%2981%3A1%3C39%3AAATAED%3E2.0.CO%3B2-T&origin=repec
File Format: application/pdf
File Function: full text
Download Restriction: Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.

As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

Publisher Info
Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 81 (1991)
Issue (Month): 1 (March)
Pages: 39-49
Download reference. The following formats are available: HTML (with abstract), plain text (with abstract), BibTeX, RIS (EndNote, RefMan, ProCite), ReDIF
Handle: RePEc:aea:aecrev:v:81:y:1991:i:1:p:39-49

Contact details of provider:
Email:
Web page: http://www.aeaweb.org/aer/
More information through EDIRC

Order Information:
Web: http://www.aeaweb.org/subscribe.html

For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).

Related research
Keywords:

Other versions of this item:

Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)
  1. Stephen G Hall & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2008. "A Portfolio Balance Approach to Euro-Area Money Demand in a Time-Varying Environment," Discussion Papers in Economics 08/9, Department of Economics, University of Leicester. [Downloadable!]
    Other versions:
  2. P. Swamy & I-Lok Chang & Jatinder Mehta & George Tavlas, 2003. "Correcting for Omitted-Variable and Measurement-Error Bias in Autoregressive Model Estimation with Panel Data," Computational Economics, Springer, vol. 22(2), pages 225-253, October. [Downloadable!] (restricted)
  3. Campbell-Pownall, R.A.J. & Koedijk, C.G. & Lothian, J.R. & Mahieu, R.J., 2007. "Irving Fisher and the UIP Puzzle: Meeting the Expectations a Century Later," Research Paper ERS-2007-088-F&A Revision, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus Uni. [Downloadable!]
  4. B Bhaskara Rao & Rup Singh, 2005. "A Cointegration And Error Correction Approach To Demand For Money In Fiji: 1971-2002," Macroeconomics 0511012, EconWPA. [Downloadable!]
  5. John Leusner & Jalal D. Akhavein & P.A.V.B. Swamy, 1996. "Solving an empirical puzzle in the capital asset pricing model," Finance and Economics Discussion Series 96-14, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
  6. Piyu Yue, 1991. "A microeconomic approach to estimating demand: the asymptotically ideal model," Review, Federal Reserve Bank of St. Louis, issue Nov, pages 36-51. [Downloadable!]
  7. James Koch, 2006. "Public Investment in University Distance Learning Programs: Some Performance-Based Evidence," Atlantic Economic Journal, International Atlantic Economic Society, vol. 34(1), pages 23-32, March. [Downloadable!] (restricted)
  8. Cheng Hsiao & Yan Shen & Hiroshi Fujiki, 2004. "Aggregate vs Disaggregate Data Analysis — A Paradox in the Estimation of a Money Demand Function of Japan Under the Low Interest Rate Policy," IEPR Working Papers 04.1, Institute of Economic Policy Research (IEPR). [Downloadable!]
    Other versions:
  9. Kevin S. Nell, 1999. "The Relation Between Money, Income and Prices in South Africa," Studies in Economics 9909, Department of Economics, University of Kent. [Downloadable!]
  10. Neil R. Ericsson, David F. Hendry & Kevin M. Prestiwch, . "The UK Demand for Broad Money over the Long run," Economics Papers W29, Economics Group, Nuffield College, University of Oxford. [Downloadable!]
  11. Thomas Mayer, 2000. "Data mining: a reconsideration," Journal of Economic Methodology, Taylor and Francis Journals, vol. 7(2), pages 183-194, June. [Downloadable!] (restricted)
    Other versions:
  12. Godwin Nwaobi, 2001. "A Vector Error Correction And Nonnested Modelling Of Money Demand Function In Nigeria," Econometrics 0111004, EconWPA. [Downloadable!]
    Other versions:
  13. James Boughton, 1992. "International comparisons of money demand," Open Economies Review, Springer, vol. 3(3), pages 323-343, October. [Downloadable!] (restricted)
  14. Elmer Cuba & Rafael Herrada, 1995. "Demanda de Dinero, Inflación y Política Monetaria en el Perú: 1991-1994," Cuadernos de Economía (Latin American Journal of Economics), Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 32(97), pages 347-378. [Downloadable!]
  15. William E. Becker & William H. Greene, 2005. "Using the Nobel Laureates in Economics to Teach Quantitative Methods," Journal of Economic Education, Helen Dwight Reid Foundation, vol. 36(3), pages 261-277. [Downloadable!]
  16. John Faust & Charles H. Whiteman, 1997. "General-to-specific procedures for fitting a data-admissible, theory- inspired, congruent, parsimonious, encompassing, weakly-exogenous, identified, structural model to the DGP: a translation and crit," International Finance Discussion Papers 576, Board of Governors of the Federal Reserve System (U.S.). [Downloadable!]
    Other versions:
  17. Sophocles N. Brissimis & George Hondroyiannis & P.A.V.B. Swamy & George S. Tavlas, 2003. "Empirical Modelling of Money Demand in Periods of Structural Change: The Case of Greece," Working Papers 01, Bank of Greece. [Downloadable!]
    Other versions:
Statistics
Access and download statistics

Did you know? Each page is provided with a technical contact, in case something is not right with the supplied information. See under "publisher info".

This page was last updated on 2009-10-31.

This information is provided to you by IDEAS at the Department of Economics, College of Liberal Arts and Sciences, University of Connecticut using RePEc data on a server sponsored by the Society for Economic Dynamics.