Causality in Econometric Modeling. From Theory to Structural Causal Modeling

Structural Econometric Modeling: Rationales and Examples from Industrial Organization

This chapter explains the logic of structural econometric models and compares them to other types of econometric models. We provide a framework researchers can use to develop and evaluate structural econometric models. This framework pays particular attention to describing different sources of unobservables in structural models. We use our framework to evaluate several literatures in industrial...

Structural Econometric Modeling: Rationales and Examples from Industrial Organization by

The Causal Foundations of Structural Equation Modeling

The role of causality in SEM research is widely perceived to be, on the one hand, of pivotal methodological importance and, on the other hand, confusing, enigmatic and controversial. The confusion is vividly portrayed, for example, in the influential report of Wilkinson and Task Force’s (1999) on “Statistical Methods in Psychology Journals: Guidelines and Explanations.” In discussing SEM, the r...

Econometric Causality

Econometric Causality This paper presents the econometric approach to causal modeling. It is motivated by policy problems. New causal parameters are defined and identified to address specific policy problems. Economists embrace a scientific approach to causality and model the preferences and choices of agents to infer subjective (agent) evaluations as well as objective outcomes. Anticipated and...

Bent Nielsen : Econometric Modeling

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