Published May 10, 2010

Ed Leamer on the State of Econometrics

Ed Leamer critiques the field of econometrics, emphasizing the overlooked importance of housing in business cycles, the limitations of econometric models, and the complexities of experimental economics in capturing true causal relationships.

Episode Highlights

Topics covered

Episode Highlights

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Dexa/Russ Roberts

Ed Leamer on the State of Econometrics

Topics covered

Popular Clips

Econometrics Insights

Immigration Impact Confusion

Macroeconomic Wake-up Calls

Skepticism in Empirical Work

Unemployment Benefits and Job Search

The Limits of Economic Science

Assumptions and Data Analysis

The Con of Econometrics

Sensitivity in Economic Conclusions

Rethinking Macroeconomics

The Prophet of Housing

The Hidden Secrets

Competition Insights

The Illusion of Work

Episode Highlights

Macroeconomic Perspectives

Econometric Sensitivity

Experimental Economics Debate

Related Episodes

Ed Leamer on Macroeconomic Patterns and Stories

Steven Levitt on Freakonomics and the State of Economics

James Heckman on Facts, Evidence, and the State of Econometrics

Ed Leamer on Outsourcing and Globalization

Edmund Phelps on Unemployment and the State of Macroeonomics

Adam Ozimek on the Power of Econometrics and Data

Robert Solow on Growth and the State of Economics

John Taylor on the State of the Economy

Ed Leamer on Manufacturing, Effort, and Inequality

Paul Romer on Growth, Cities, and the State of Economics

Edward Lazear on Becker

An Interview with Gary Becker

Joshua Angrist on Econometrics and Causation

Scott Sumner on Growth and Economic Policy

Will Davies on the Economics, Economists, and the Limits of Neoliberalism

Ed Leamer on the State of Econometrics

Topics covered

Popular Clips

Episode Highlights

Macroeconomic PerspectivesEd Leamer discusses the overlooked role of housing in business cycles and critiques the macroeconomic profession's response to financial crises. He emphasizes the need for a more data-driven and humble approach to economic modeling.

Macroeconomic Perspectives

Econometric SensitivityEd Leamer critiques the overreliance on econometric models, highlighting their sensitivity to assumptions and the need for transparency. He calls for a shift towards more robust methodologies that prioritize meaningful insights over statistical significance.

Econometric Sensitivity

Experimental Economics Debate

Related Episodes