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Our popular course Introduction to QuantLib Development will be taking place June 18-20th, 2018.

 

Economic Goodness-of-Fit

Sat, 10 Feb 2018 19:38:21 GMT

What do we mean by a "significant result" in econometrics? The distinction between "statistical significance" and "economic significance" has received a good deal of attention in the literature. And rightly so. Think about the estimated coefficients in a regression model, for example. Putting aside the important issue of the choice of a significance level when considering statistical significance, we all know that results that are significant in the latter sense may or may not be...