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The Nonlinear Skeletons in the Closet

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Author Info
William A. Barnett (University of Kansas)
Barry E. Jones (Binghamton University - SUNY)
Milka Kirova (Washington University)
Travis Nesmith (Federal Reserve Board)
Meenakshi Pasupathy (Bernard Baruch School - CUNY)

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

Abstract

Although nonlinearity is the rule in economic theory, nonlinearity tends to make life difficult for econometricians. While there have been many advances in nonlinear econometrics in recent years, some problems produced by nonlinearity remain 'skeletons in the closet' in empirical economic research. In this paper, we open the door to that closet and take a look at two of the biggest skeletons. For a deeper look into that closet, see the just-published book by W. A. Barnett and Jane Binner (2004), Functional Structure and Approximation in Econometrics, North Holland, Elsevier Science.

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Paper provided by EconWPA in its series Econometrics with number 0405003.

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Length: 45 pages
Date of creation: 27 May 2004
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Handle: RePEc:wpa:wuwpem:0405003

Note: Type of Document - doc; pages: 45. This paper is forthcoming in Michael Belongia and Jane Binner (eds), Money, Measurement, and Computation, Palgrave.
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Related research
Keywords: nonlinearity; curvature; regularity; cointegration; bispectrum; chaos; bifurcation;

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Find related papers by JEL classification:
C14 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: General - - - Semiparametric and Nonparametric Methods
C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions
E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation
E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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References listed on IDEAS
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Full references

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. Barnett, William A., 2006. "Is Macroeconomics a Science?," MPRA Paper 415, University Library of Munich, Germany. [Downloadable!]
  2. William Barnett, 2006. "Is Macroeconomics a Science? Foreword to Apostolos Serletis, Money and the Economy," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200601, University of Kansas, Department of Economics. [Downloadable!]
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