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.

My favorite one is this …

Testing restrictions:

Wald, Lagrange Multiplier,

Likelihood Ratio.

Here is mine. I hope it is truly original.

Look, binary Y.

Use Logistic Regression.

Goodbye helpful graphs!

Craig

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.

Utility,

Marginally diminishing

The stillness of equilibrium

Time,

Irreversibly moving forward

The music of learning

Knowledge,

Marginally piling up

The explosion of growth

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.

way to tell, precisely why thy curves slope down so nicely;

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