Policy Evaluation

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August 31, 2024 4 min read Definitions
Counterfactual Analysis: Policy Evaluation in Econometrics
Economics Statistics Policy Evaluation Econometrics Counterfactual Analysis Time Series Interventions
An in-depth exploration of counterfactual analysis in econometrics, including its historical context, methodologies, applications in macroeconomics and microeconomics, key events, and more.
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August 31, 2024 5 min read Definitions
Difference in Differences: A Causal Effect Estimation Method
Mathematics Statistics Causal Inference Econometrics Policy Evaluation Panel Data Treatment Effect
Difference in Differences (DiD) is a statistical technique used to estimate the causal effect of a treatment or policy intervention using panel data. It compares the average changes over time between treated and untreated groups.
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August 31, 2024 3 min read Definitions
Lucas Critique: Policy Evaluation in Macroeconomics
Economics Finance Macroeconomics Policy Evaluation Rational Expectations Economic Models Predictive Accuracy
The Lucas Critique highlights the need for policymakers to consider how changes in economic policies will alter the behavior of individuals and firms, thus invalidating predictions based on historical data.
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