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Theoretical and Methodological Context of (Post)-Modern Econometrics and Competing Philosophical Discourses for Policy Prescription

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  • Jackson, Emerson Abraham

Abstract

This research article was championed as a way of providing discourses pertaining to the concept of "Critical Realism (CR)" approach, which is amongst many othe forms of competing postmodern philosophical concepts for the engagement of dialogical discourses in the area of established econometric methodologies for effective policy prescription in the economic science discipline. On the the whole, there is no doubt surrounding the value of empirical endeavours in econometrics to address real world economic problems, but equally so, the heavy weighted use and reliance on mathematical contents as a way of justifying its scientific base seemed to be loosing traction of the intended focus of economics when it comes to confronting real world problems in the domain of social interaction. In this vein, the construction of mixed methods discourse(s), which favour that of CR philosophy is hereby suggested in this article as a way forward in confronting with issues raised by critics of mainstream economics and other professionals in the postmodern era.

Suggested Citation

  • Jackson, Emerson Abraham, 2018. "Theoretical and Methodological Context of (Post)-Modern Econometrics and Competing Philosophical Discourses for Policy Prescription," EconStor Preprints 178632, ZBW - Leibniz Information Centre for Economics.
    • Handle: RePEc:zbw:esprep:178632
    Note: This is a forthcoming article which will be published by the Postmodern Openings Journal in Vol. 9, Issue 3 (September, 2018).
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    References listed on IDEAS

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    1. Emerson Abraham Jackson & Edmond Tamuke & Abdulai Sillah, 2018. "Modelling Monthly Headline Consumer Price Index (HCPI) through Seasonal Box-Jenkins Methodology," International Journal of Sciences, Office ijSciences, vol. 7(01), pages 51-56, January.
    2. Dean S. Karlan, 2005. "Using Experimental Economics to Measure Social Capital and Predict Financial Decisions," American Economic Review, American Economic Association, vol. 95(5), pages 1688-1699, December.
    3. John Mingers, 2001. "Combining IS Research Methods: Towards a Pluralist Methodology," Information Systems Research, INFORMS, vol. 12(3), pages 240-259, September.
    4. Jordi Brandts & Gary Charness, 2011. "The strategy versus the direct-response method: a first survey of experimental comparisons," Experimental Economics, Springer;Economic Science Association, vol. 14(3), pages 375-398, September.
    5. EMERSON Abraham Jackson, 2018. "Comparison Between Static And Dynamic Forecast In Autoregressive Integrated Moving Average For Seasonally Adjusted Headline Consumer Price Index," Revista Economica, Lucian Blaga University of Sibiu, Faculty of Economic Sciences, vol. 70(1), pages 53-65, August.
    6. Jackson, Emerson Abraham, 2018. "On the question of the relevance of Economics as a science: Postmodern filosofia critique," MPRA Paper 86185, University Library of Munich, Germany, revised 13 Apr 2018.
    7. Emerson JACKSON & Edmund TAMUKE, 2018. "Probability Forecast Using Fan Chart Analysis A Case of the Sierra Leone Economy," Journal of Advanced Studies in Finance, ASERS Publishing, vol. 9(1), pages 34-44.
    8. Jackson, Emerson Abraham & Tamuke, Edmund, 2018. "Probability Forecast Using Fan Chart Analysis: A case of the Sierra Leone Economy," MPRA Paper 88853, University Library of Munich, Germany, revised 04 Sep 2018.
    9. repec:pri:rpdevs:gamespaper.pdf is not listed on IDEAS
    10. Stephen Pollock, 2014. "Econometrics: An Historical Guide for the Uninitiated," Discussion Papers in Economics 14/05, Division of Economics, School of Business, University of Leicester.
    11. Edmund TAMUKE & Emerson JACKSON & Abdulai SILLAH, 2018. "Forecasting Inflation In Sierra Leone Using Arima And Arimax: A Comparative Evaluation. Model Building And Analysis Team," Theoretical and Practical Research in the Economic Fields, ASERS Publishing, vol. 9(1), pages 63-74.
    12. repec:srs:journl:jasf:v:9:y:2018:i:1:p:34-44 is not listed on IDEAS
    13. Magnus, J.R. & Morgan, M.S., 1987. "The ET interview : Professor J. Tinbergen," Other publications TiSEM c9e971fe-394d-4e99-89a2-6, Tilburg University, School of Economics and Management.
    14. Boland, L.A., 1999. "Critical Realism vs. Economic Rhetoric," Discussion Papers dp99-5, Department of Economics, Simon Fraser University.
    15. Paul Downward & Andrew Mearman, 2007. "Retroduction as mixed-methods triangulation in economic research: reorienting economics into social science," Cambridge Journal of Economics, Cambridge Political Economy Society, vol. 31(1), pages 77-99, January.
    16. Alan P. Kirman, 1992. "Whom or What Does the Representative Individual Represent?," Journal of Economic Perspectives, American Economic Association, vol. 6(2), pages 117-136, Spring.
    17. Arrow, Kenneth J, 1986. "Rationality of Self and Others in an Economic System," The Journal of Business, University of Chicago Press, vol. 59(4), pages 385-399, October.
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    Cited by:

    1. Jackson, Emerson Abraham, 2017. "Book Review of Introduction to Dynamic Macroeconomic General Equilibrium Models (2nd Ed) Wilmington, DE: Vernon Press, 2015. 282p ISBN: 978-1-62273-030-8 (Hardcover) written by Josh L. Torres," MPRA Paper 98172, University Library of Munich, Germany, revised 09 Jan 2018.

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    More about this item

    Keywords

    Theoretical; Methodological Intervention; Critical Realism; Postmodern; Econometrics;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B50 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - General
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General

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