Qualitative Economics and the Scope of the Correspondence Principle

Bassett, Lowell; Maybee, John S.; Quirk, J. P.

doi:10.2307/1909522

Cited by 135 publications

(53 citation statements)

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“…We have added a number of enhancements to the method first presented as discussed below. Algorithmic approaches and the sufficient conditions for conducting a qualitative analysis presented previously include: Lancaster [30]; Bassett, Maybee and Quirk [31]; Ritschard [32]; Maybee [33]; and Lady [34]. These all were designed to detect and resolve any entries in the reduced form that were signable, i.e., had the same sign, given the sign patterns of the structural arrays, but independent of the magnitudes of the nonzero entries.…”

Section: Appendix: a Qualitative Tool Kitmentioning

confidence: 99%

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A New Approach to Model Verification, Falsification and Selection

Buck

Lady

2015

Econometrics

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This paper shows that a qualitative analysis, i.e., an assessment of the consistency of a hypothesized sign pattern for structural arrays with the sign pattern of the estimated reduced form, can always provide decisive insight into a model's validity both in general and compared to other models. Qualitative analysis can show that it is impossible for some models to have generated the data used to estimate the reduced form, even though standard specification tests might show the model to be adequate. A partially specified structural hypothesis can be falsified by estimating as few as one reduced form equation. Zero restrictions in the structure can themselves be falsified. It is further shown how the information content of the hypothesized structural sign patterns can be measured using a commonly applied concept of statistical entropy. The lower the hypothesized structural sign pattern's entropy, the more a priori information it proposes about the sign pattern of the estimated reduced form. As an hypothesized structural sign pattern has a lower entropy, it is more subject to type 1 error and less subject to type 2 error. Three cases illustrate the approach taken here.

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Section: Appendix: a Qualitative Tool Kitmentioning

confidence: 99%

“…For a given system, barring zeros as we assume, there are 2 mn possible reduced form sign patterns. The (long) integer used in our computing platform is limited to +/− 2 31 . Accordingly, we cannot tabulate indexed counts of the reduced form sign patterns except for mn < 30.…”

Section: Appendix: a Qualitative Tool Kitmentioning

confidence: 99%

A New Approach to Model Verification, Falsification and Selection

Buck

Lady

2015

Econometrics

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“…Sufficiënt conditions for a complete sign-solvability of matrix C are given by Lancaster, viz. when the matrix C of order n x (n + 1) has the following shape (making use of the above mentioned row and column operations): Bassett et al, 1968;Voogd, 1982):…”

Section: Qualitative Calculusmentioning

confidence: 99%

Qualitative Structure Analysis of Complex Systems

Brouwer¹,

Nijkamp²

1985

Measuring the Unmeasurable

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“…To further characterize a Morishirna matrix, we use the concept of a cycle in a matrix (see [7,8] greater than one i$ non-negative (see [ 4 ] [11,4 ].…”

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confidence: 99%

A Class of Generalized Metzlerian Matrices

Quirk

1974

Trade, Stability, and Macroeconomics

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1.This paper returns to a problem concerning the relation. ship between dynamic stability and Hicksian stability raised in a paper by' Lloyd Metzler over hventy-five years ago [10]. The present paper identifies -a class of matrices ""rhich has the property that dynamic stability implies Hicksian stability, as in the gross substitute or l!Metzleriantr case.F\�r&er, as in the 1'Ietzlerian case, such matrices are specified in term.s of their qualitative properties, i.e., their sign pattern configurations. Some links betv.·een this class of matrices and Samuelson 1s correspondence principle are also indicated. !t nUght be in order to

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Qualitative Economics and the Scope of the Correspondence Principle

Cited by 135 publications

References 0 publications

A New Approach to Model Verification, Falsification and Selection

A New Approach to Model Verification, Falsification and Selection

Qualitative Structure Analysis of Complex Systems

A Class of Generalized Metzlerian Matrices

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