Econometrics Haiku

by on November 14, 2007 at 7:08 am in Economics, The Arts | Permalink

Here are some Econometrics Haiku from noted econometrician Keisuke Hirano.

Supply and demand:
without a good instrument,
not identified.

I relate to these especially:

T-stat looks too good.
Use robust standard errors–
significance gone.

and

From negation comes
growth, progress; not unlike a
referee report.

1 Tommy Veblen November 14, 2007 at 7:37 am

My favorite one is this …

Testing restrictions:
Wald, Lagrange Multiplier,
Likelihood Ratio.

2 craig November 14, 2007 at 9:20 am

Here is mine. I hope it is truly original.

Look, binary Y.
Use Logistic Regression.
Goodbye helpful graphs!

Craig

3 L November 14, 2007 at 10:12 am

Ode to Utility

there is no way to tell, precisely

why thy curves slope down so nicely;

but we can judge, through observation

the marginal rate of substitution.

4 Yan Li November 14, 2007 at 11:10 am

Utility,
Marginally diminishing
The stillness of equilibrium

Time,
Irreversibly moving forward
The music of learning

Knowledge,
Marginally piling up
The explosion of growth

5 Bill Stepp November 14, 2007 at 7:50 pm

Prove the fallacy of econometrics.

1. Econometrics is mathematical history.
2. Mathematics is a priori knowledge.
Therefore,
3. Econometrics is a priori history.
4. A priori history is a fallacy.
Therefore,
5. Econometrics is a fallacy.
QED.

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There is no way to tell, precisely why thy curves slope down so nicely; but we can judge, through observation the marginal rate of substitution.

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