Mastering 'Metrics: The Path from Cause to Effect
By (Author) Joshua D. Angrist
By (author) Jrn-Steffen Pischke
Princeton University Press
Princeton University Press
3rd March 2015
with French flaps
United States
Tertiary Education
Non Fiction
330.015195
Paperback
304
Width 140mm, Height 216mm
340g
Applied econometrics, known to aficionados as metrics, is the original data science. Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung futhemed humor, Mastering Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful.
The five most valuable econometric methods, or what the authors call the Furious Fiverandom assignment, regression, instrumental variables, regression discontinuity designs, and differences in differencesare illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Pandas Jade Palace). Does health insurance make you healthier Randomized experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wifes life Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse.
Wielding econometric tools with skill and confidence, Mastering Metrics uses data and statistics to illuminate the path from cause to effect.
Shows why econometrics isimportant
Explains econometric research through humorous and accessiblediscussion
Outlines empirical methods central to modern econometricpractice
Works through interesting and relevant real-worldexamples
"I would be hard pressed to name another econometrics book that can be read for enjoyment yet provides useful quantitative insights."--M.S.R., Financial Analysts Journal
Joshua D. Angrist is the Ford Professor of Economics at the Massachusetts Institute of Technology. Jorn-Steffen Pischke is professor of economics at the London School of Economics and Political Science. They are the authors of Mostly Harmless Econometrics (Princeton).