Mariusz Maziarz - The unrealistic realist philosophy. The ontology of econometrics revisited

jpe:10731 - Journal of Philosophical Economics, November 20, 2019, Volume XIII Issue 1 -
The unrealistic realist philosophy. The ontology of econometrics revisitedArticle

Authors: Mariusz Maziarz 1

  • 1 Wroclaw University of Economics

The argument put forth in this article shows that the hitherto scientific-realist approaches to econometrics are incongruent with the realistically reconstructed empirical macroeconomics. The SR approaches share in common being realist about the relations depicted by (successful) models. The economic models of data are sensitive to minor changes in sample and estimating methods what creates the 'emerging contrary result' phenomenon: the community of econometricians accept models that are inconsistent. Being SR about econometrics equals committing oneself to the following trilemma: (1) it is feasible to indicate the successful models that rightly isolate/idealize the regularities of the economy (the knowledge thesis); (2) econometric models are about the economic world (the independence thesis); and, at least in some areas of application, (3) successful econometric models contradict each other.

Volume: Volume XIII Issue 1
Section: Articles
Published on: November 20, 2019
Imported on: December 28, 2022
Keywords: philosophy of econometrics,contrary results,'emerging contrary result' phenomenon,ERR phenomenon,instrumentalism,constructivism,[SHS]Humanities and Social Sciences

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