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Ep 134. Edward Leamer: Is Econometrics a con?

Dr. Leamer is a Professor of Economics and Statistics at UCLA who comes on the show to discuss the recent arrival of econometric analyses in medicine. He is a longstanding skeptic of the robustness of conclusions derived from econometrics and has some advice for clinicians puzzling over what to do with these analyses.

GUEST:

Ed Leamer, PhD, Professor of Economics and Statistics

SHOW NOTES:

Let’s take the Con out of Econometrics – Ed Leamer warns of the science of econometrics in 1983: https://www.international.ucla.edu/media/files/Leamer_article.pdf

The Credibility Revolution in Empirical Economics: How Better Research Design is Taking the Con out of Econometrics – Angrist and Pischke argue in 2010 that new econometric tools : pseudorandomization, instrumental variables, and natural experiments mark a credibility revolution for the field. https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.24.2.3

Tantalus on the Road to Asymptopia- Ed Leamer responds to Angrist/Pischke : https://pubs.aeaweb.org/doi/pdfplus/10.1257/jep.24.2.31

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