This paper discusses five methodological problems in applied econometrics. These are the problem of measurement, data mining, publication bias, the Duhem-Quine critique, and the non-repeatable nature of historical events. These problems form a third source of error next to two other more common sources of error in econometrics, sampling error and specification error. The paper argues that these...

In the original publication of article, figure legends Figs. 2 and 4 were published with an error, due to two missed corrections. The corrections had been provided by authors during proofing process, but typesetters.

Following publication of the original article, authors identified an error in Fig. 1. The correct 1 and its caption is given this erratum. article has been revised. (Figure presented.). © Springer Nature B.V. 2021