tag:blogger.com,1999:blog-3758330678390419129.post3015932508424054002..comments2024-02-13T02:39:22.756-05:00Comments on EconomicPolicyJournal.com: Two Fed Economists Admit Crisis in Empirical EconomicsRobert Wenzelhttp://www.blogger.com/profile/14296920597416905488noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-3758330678390419129.post-62822997345550263412015-11-05T15:53:12.396-05:002015-11-05T15:53:12.396-05:00Empiricism is OK when the data are clearly quantif...Empiricism is OK when the data are clearly quantifiable. When they aren't, or when you need instrumental variables / proxy measurements, you have to make assumptions in order to quantify them or to relate them to the variable you're attempting to measure. Sure enough, assumptions can and often are wrong. One of the biggest problem in economics is the measurement problem.Brandonhttps://www.blogger.com/profile/07378113291556288458noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54622024067592782072015-11-04T14:32:36.928-05:002015-11-04T14:32:36.928-05:00Do you really expect Ptolemy to come right out and...Do you really expect Ptolemy to come right out and admit that the Earth isn't the center of the universe?<br />geoihhttps://www.blogger.com/profile/06228052543574335663noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-54665819680365596702015-11-04T13:11:25.632-05:002015-11-04T13:11:25.632-05:00Based on their proposed solutions they clearly nee...Based on their proposed solutions they clearly need to research the replication process itself. Their solutions are primarily that the replicators be provided the exact data sets used by the original author. This might allow them to replicate the study but would have no relevance to the current real world. I agree they are "about 100 years late to the party." And it doesn't appear Brian Ericksonhttps://www.blogger.com/profile/10188778202762603278noreply@blogger.comtag:blogger.com,1999:blog-3758330678390419129.post-6614139458724344832015-11-04T12:38:26.957-05:002015-11-04T12:38:26.957-05:00Who reached this conclusion first? Was it Mises? O...Who reached this conclusion first? Was it Mises? Or Bohm-Bawerk or Menger? Either way, they're about 100 years late to the party.Wagshttps://www.blogger.com/profile/14719718595125311688noreply@blogger.com