Description
Applied econometrics uses the tools of theoretical econometrics and real-word data to develop predictive models and assess economic theories. Due to the complex nature of such analysis, various assumptions are often not understood by those people who rely on it. The danger of this is that economic policies can be assessed favourably to suit a particular political agenda and forecasts can be generated to match the needs of a particular customer. Ethics in Econometrics argues that econometricians need to be aware of potential ethical pitfalls when carrying out their analysis and that they need to be encouraged to avoid them. Using a range of empirical examples and detailed discussions of real cases, this book provides a guide for research practices in econometrics, illustrating why it is imperative that econometricians act ethically in terms of the way they conduct their analysis and treat their data.
Table of Contents
Introduction; 1. Ethical guidelines; 2. Scientific misconduct; 3. Influential observations; 4. Model selection; 5. Estimation and interpretation; 6. Missing data; 7. Spurious relations; 8. Blinded by the data; 9. Predictability; 10. Adjustment of forecasts; 11. Big data; 12. Algorithms.
