tag:blogger.com,1999:blog-1740670447258719504.post394681354295315547..comments2024-03-27T03:00:27.024-04:00Comments on Facts & other stubborn things: Another IV multiplier paperEvanhttp://www.blogger.com/profile/12259004160963531720noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-1740670447258719504.post-69417936319245253952011-08-10T12:03:39.801-04:002011-08-10T12:03:39.801-04:00Naw, I don't really have anything up online.
...Naw, I don't really have anything up online.<br /><br />And, yeah, like you I assume I agree with the content but not the tone of Klings article (dont have access to it). I can guess though. Beyond the fact that it sounds like a warmed over Lucas critique I find it annoying when Austrian types invoke the radical strong version of the Hayekian idea that we "can never know anything" when they want to use it criticize people they disagree with. <br /><br />Meanwhile, they never seem overly concerned with just making crap up (like PSST or whatever it is) and acting like it has legs becuase they can construct some highly artificial anecdotes to "support" it.<br /><br />Anyway, I'm perfectly comfortable with econometrics even if it does not produce big T Truth.Andrew Bossiehttps://www.blogger.com/profile/00353842153288646125noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-73487317700251970972011-08-10T09:50:39.842-04:002011-08-10T09:50:39.842-04:00This is open to anyone. I've commented a lot o...This is open to anyone. I've commented a lot on endogeneity and identification problems in macroeconometrics and what I perceive to be good and bad solutions. I haven't commented much on VARs. If anyone wants to guest post on this solution, just let me know.<br /><br />And as I said before - any other solid multiplier papers are welcome. I firmly believe this is not "ex post story telling" and while the empirical task is a tough one, it's quite wrong to call it "scientism" and pretend like we have no clue what's going on.Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-29482426818856953002011-08-10T09:48:29.509-04:002011-08-10T09:48:29.509-04:00Let me know if you ever want to guest post about y...Let me know if you ever want to guest post about your work. I haven't done VARs for about six years, so I'm really taking my labor economics and program evaluation approaches to econometric identification and whining about macroeconometric work on that basis.<br /><br />As I mentioned earlier with how good I think Jaeger's influence was on me - I think it's a good basis on which to whine about macro. But I don't always feel like I can comment intelligently on VARs.<br /><br />Of course your work also has a lot to do with economic history, which is another favorite of this host and his readers.<br /><br />Do you have a good thorough summary of your work on your blog?Daniel Kuehnhttp://www.factsandotherstubbornthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-39563919116551178162011-08-10T09:35:56.149-04:002011-08-10T09:35:56.149-04:00Also I've been meaning to comment to tell you ...Also I've been meaning to comment to tell you keep posting about this stuff. It is all directly relevant to and helpful for my dissertation where I'm doing both state level IV and VAR stuff on fiscal policy.Andrew Bossiehttps://www.blogger.com/profile/00353842153288646125noreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-37430813549910913992011-08-10T06:57:35.000-04:002011-08-10T06:57:35.000-04:00Oh that makes sense - thanks.Oh that makes sense - thanks.Daniel Kuehnhttp://www.factsandotherstubbonrthings.blogspot.comnoreply@blogger.comtag:blogger.com,1999:blog-1740670447258719504.post-11769153530429796302011-08-10T05:28:38.288-04:002011-08-10T05:28:38.288-04:00Romer and Romer also get pretty big multipliers in...Romer and Romer also get pretty big multipliers in their 2010 paper. If I remember correctly their multiplier averages around 3.<br /><br /><br />I'm not 100% sure what your issue with the instrument is here given the ability of pension funds to invest anywhere they want. I assume there isn't much of a "home bias" to state pension funds.Andrew Bossiehttps://www.blogger.com/profile/00353842153288646125noreply@blogger.com