Machine Learning and Econometrics: Model Selection and Assessment Statistical Learning Style

  This is the second in a series of posts where I document my own process in figuring out how machine learning relates to the classic econometrics one learns in a graduate program in economics. Note that I am a humble practitioner of applied econometrics, so the ideas I am working through are not new,…

How does Machine Learning fit into Agricultural Economics?

Photo by Dirk Vorderstraße (Mähdrescher von John Deere in der Warburger Börde) [CC BY 2.0], via Wikimedia Commons Machine learning and artificial intelligence are the biggest topics in tech right now, and the excitement is spilling over to economics. The 2018 ASSA meetings (I did not attend, just browsed the program) had at least five…

Basic Time-Series Analysis: A Drunk and Her Dog Explain Cointegration and the VECM Model

Dogs Image By Peter Wadsworth (Flickr) [CC BY 2.0], via Wikimedia Commons This post is the fifth in a series explaining Basic Time Series Analysis. Click the link to check out the first post which focused on stationarity versus non-stationarity, and to find a list of other topics covered. As a reminder, this post is…

Basic Time-Series Analysis, the Game

Update: Posts in this series Introduction and Stationary versus Unit Roots (this post) Single Equation Models, ARIMA Single Equation Models, GARCH Multiple Equation Models, VAR Multiple Equation Models, Cointegration and VECM Roadmap: Which Model for your Project (coming soon) When graduate students approach me hoping to start research in price analysis, they usually have to…