Tony,
You seem to be asking if econometrics has ever
attempted to examine whether government expenditure has an effect on
growth. Pretty much all econometric models are designed to do
that!!!!
If I recall correctly, I am sure you will be shocked to
discover the emprical literature was mixed (depends on method, variables, time
period, etc) and leaves enough scope for Keynesians and Neoliberals to through
muck at each other.
Alastair
Dear
Alastair
I was puzzled, some years ago, when a
university department (I shan’t divulge which) asked me to advise a postgraduate
economics student. I had not previously ventured beyond maths, stats, medicine
and the sciences.
I read, re-read and re-read again all his
tuff. Stuff it was. It was stuffed with sesquipedalian
prolixity.
No algebra in sight, yet he talked grandly
about his model.
The university awarded him a
PhD.
Since then, I have steered away from
economics, perhaps wrongly and misjudgedly.
Political economists write articles in newspapers about
national growth. To me, growth
implies the use of differential equations.
So when you say that “Pretty much all
econometric models are designed to do that!” I must ask where can I see the
latest models?
Also:
on what data and analysis are they evidenced?
Cheers
Tony
Date: Sat, 12 May 2012 19:36:01 +0100
From:
[log in to unmask]Subject: austerity and growth
To:
[log in to unmask]
politicians
keep beefing that austerity and growth cannot co-exist.
are
there any econometric models of each of these so that we might examine any
points of concurrence?
Tony
Greenfield
Middle Cottage
Little Hucklow
Derbyshire SK17 8RT
01298
872326
[log in to unmask]
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