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Kevin D. Hoover [32]Kevin D. Autor Hoover [1]
  1.  20
    Causality in Macroeconomics.Kevin D. Hoover & Kevin D. Autor Hoover - 2001 - Cambridge University Press.
    Causality in Macroeconomics examines causality while taking macroeconomics seriously. A pragmatic and realistic philosophy is joined to a macroeconomic foundation that refines Herbert Simon's well-known work on causal order to make a case for a structural approach to causality. The structural approach is used to understand modern rational expectations models, regime switching models, Granger causality, vector autoregressions, the Lucas critique, and concept exogeneity. Techniques of causal inference based on patterns of stability and instability in the face of identified regime changes (...)
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  2.  23
    Nonstationary time series, cointegration, and the principle of the common cause.Kevin D. Hoover - 2003 - British Journal for the Philosophy of Science 54 (4):527-551.
    Elliot Sober ([2001]) forcefully restates his well-known counterexample to Reichenbach's principle of the common cause: bread prices in Britain and sea levels in Venice both rise over time and are, therefore, correlated; yet they are ex hypothesi not causally connected, which violates the principle of the common cause. The counterexample employs nonstationary data—i.e., data with time-dependent population moments. Common measures of statistical association do not generally reflect probabilistic dependence among nonstationary data. I demonstrate the inadequacy of the counterexample and of (...)
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  3. Counterfactuals and Causal Structure.Kevin D. Hoover - 2011 - In Phyllis McKay Illari Federica Russo (ed.), Causality in the Sciences. Oxford University Press.
  4.  90
    Reductionism in Economics: Intentionality and Eschatological Justification in the Microfoundations of Macroeconomics.Kevin D. Hoover - 2015 - Philosophy of Science 82 (4):689-711.
    Macroeconomists overwhelmingly believe that macroeconomics requires microfoundations, typically understood as a strong eliminativist reductionism. Microfoundations aims to recover intentionality. In the face of technical and data constraints macroeconomists typically employ a representative-agent model, in which a single agent solves the microeconomic optimization problem for the whole economy, and take it to be microfoundationally adequate. The characteristic argument for the representative-agent model holds that the possibility of the sequential elaboration of the model to cover any number of individual agents justifies treating (...)
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  5.  8
    The Methodology of Empirical Macroeconomics.Kevin D. Hoover - 2001 - Cambridge University Press.
    The Methodology of Empirical Macroeconomics stakes out a pragmatic middle-ground between traditional, prescriptive economic methodology and recent descriptive methodology. The former is sometimes seen as arrogantly telling economists how to do their work and the latter as irrelevant to their practice. The lectures are built around a case study of a concrete example of macroeconomic analysis. They demonstrate that economic methodology and the philosophy of science offer insights that help to resolve the genuine concerns of macroeconomists. Some examples of questions (...)
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  6.  19
    Is Macroeconomics for Real?Kevin D. Hoover - 1995 - The Monist 78 (3):235-257.
    Argues that ontological reduction of macroeconomics to microeconomics is untenable. Existence of macroeconomic aggregates; Microfoundations of macroeconomics; Examinations of the general price level; Limits of the scientific development of microeconomics.
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  7. The Logic of Causal Inference: Econometrics and the Conditional Analysis of Causation.Kevin D. Hoover - 1990 - Economics and Philosophy 6 (2):207-234.
    Discontented people might talk of corruption in the Commons, closeness in the Commons and the necessity of reforming the Commons, said Mr. Spenlow solemnly, in conclusion; but when the price of wheat per bushel had been the highest, the Commons had been the busiest; and a man might lay his hand upon his heart, and say this to the whole world, – ‘Touch the Commons, and down comes the country!’.
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  8.  9
    Identity, structure, and causal representation in scientific models.Kevin D. Hoover - 2013 - In Hsiang-Ke Chao, Szu-Ting Chen & Roberta L. Millstein (eds.), Mechanism and Causality in Biology and Economics. Dordrecht: Springer. pp. 35-57.
    Recent debates over the nature of causation, casual inference, and the uses of causal models in counterfactual analysis, involving inter alia Nancy Cartwright (Hunting Causes and Using Them), James Woodward (Making Things Happen), and Judea Pearl (Causation), hinge on how causality is represented in models. Economists’ indigenous approach to causal representation goes back to the work of Herbert Simon with the Cowles Commission in the early 1950s. The paper explicates a scheme for the representation of causal structure, inspired by Simon, (...)
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  9.  9
    First principles, fallibilism, and economics.Kevin D. Hoover - 2018 - Synthese 198 (Suppl 14):3309-3327.
    In the eyes of its practitioners, economics is both a deductive science and an empirical science. The starting point of its deductions might be thought of as first principles. But what is the status of such principles? The tension between foundationalism, the idea that there are necessary and secure first principles for economic inquiry, and fallibilism, the idea that no belief can be certified as true beyond the possibility of doubt, is explored. Empirical disciplines require some sort of falsifiability. Yet, (...)
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  10.  10
    Causal structure and hierarchies of models.Kevin D. Hoover - 2012 - Studies in History and Philosophy of Science Part C: Studies in History and Philosophy of Biological and Biomedical Sciences 43 (4):778-786.
    Economics prefers complete explanations: general over partial equilibrium, microfoundational over aggregate. Similarly, probabilistic accounts of causation frequently prefer greater detail to less as in typical resolutions of Simpson’s paradox. Strategies of causal refinement equally aim to distinguish direct from indirect causes. Yet, there are countervailing practices in economics. Representative-agent models aim to capture economic motivation but not to reduce the level of aggregation. Small structural vector-autoregression and dynamic stochastic general-equilibrium models are practically preferred to larger ones. The distinction between exogenous (...)
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  11.  3
    Probability and structure in econometric models.Kevin D. Hoover - manuscript
    The difficulty of conducting relevant experiments has long been regarded as the central challenge to learning about the economy from data. The standard solution, going back to Haavelmo's famous “The Probability Approach in Econometrics” (1944), involved two elements: first, it placed substantial weight on a priori theory as a source of structural information, reducing econometric estimates to measurements of causally articulated systems; second, it emphasized the need for an appropriate statistical model of the data. These elements are usually seen as (...)
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  12.  14
    Causal structure and hierarchies of models.Kevin D. Hoover - 2012 - Studies in History and Philosophy of Science Part C: Studies in History and Philosophy of Biological and Biomedical Sciences 43 (4):778-786.
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  13.  7
    Abduction and the New Riddle of Induction.Kevin D. Hoover - 1980 - The Monist 63 (3):329-341.
    Although the relevance and importance of his work has been recognized only belatedly, Charles Sanders Peirce was, throughout his life, a careful student and significant contributor to the development of logic, scientific theory, and philosophy generally. Occasionally, complete appreciation of Peirce's efforts has been hampered because his work is often unique and, at times, highly idiosyncratic. Yet, we hope to show in this paper that for one aspect of his work in logic Peirce did not abandon the ordinary without purpose. (...)
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  14.  49
    The ontological status of shocks and trends in macroeconomics.Kevin D. Hoover - 2015 - Synthese 192 (11):3509-3532.
    Modern empirical macroeconomic models, known as structural autoregressions (SVARs) are dynamic models that typically claim to represent a causal order among contemporaneously valued variables and to merely represent non-structural (reduced-form) co-occurence between lagged variables and contemporaneous variables. The strategy is held to meet the minimal requirements for identifying the residual errors in particular equations in the model with independent, though otherwise not directly observable, exogenous causes (“shocks”) that ultimately account for change in the model. In nonstationary models, such shocks accumulate (...)
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  15.  32
    7 Econometrics and reality.Kevin D. Hoover - 2002 - In Uskali Mäki (ed.), Fact and Fiction in Economics: Models, Realism and Social Construction. Cambridge University Press. pp. 152.
  16. Quantitative evaluation of idealized models in the new classical macroeconomics.Kevin D. Hoover - 2005 - Poznan Studies in the Philosophy of the Sciences and the Humanities 86 (1):15-34.
     
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  17. Does Macroeconomics Need Microfoundations.Kevin D. Hoover - 1984 - In Daniel M. Hausman (ed.), The Philosophy of Economics: An Anthology. New York: Cambridge University Press. pp. 315--333.
  18.  7
    The role of hypothesis testing in the molding of econometric models.Kevin D. Hoover - 2013 - Erasmus Journal for Philosophy and Economics 6 (2):43.
    This paper addresses the role of specification tests in the selection of a statistically admissible model used to evaluate economic hypotheses. The issue is formulated in the context of recent philosophical accounts on the nature of models and related to some results in the literature on specification search. In contrast to enumerative induction and a priori theory, powerful search methodologies are often adequate substitutes for experimental methods. They underwrite and support, rather than distort, statistical hypothesis tests. Their success is grounded (...)
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  19.  8
    History, Philosophy and Theory of the Life Sciences.Kevin D. Hoover - 2011 - Perspectives in Biology and Medicine 54 (3):316-331.
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  20.  11
    Beyond mechanical markets – asset price swings, risk and the role of the state.Kevin D. Hoover - 2013 - Journal of Economic Methodology 20 (1):69 - 75.
    (2013). Beyond mechanical markets – asset price swings, risk and the role of the state. Journal of Economic Methodology: Vol. 20, Methodology, Systemic Risk, and the Economics Profession, pp. 69-75. doi: 10.1080/1350178X.2013.774856.
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  21.  5
    No Title available: Reviews.Kevin D. Hoover - 1990 - Economics and Philosophy 6 (2):309-315.
  22.  9
    Ricardian Inference: Charles S. Peirce, Economics, and Scientific Method.Kevin D. Hoover & James R. Wible - 2020 - Transactions of the Charles S. Peirce Society 56 (4):521-557.
  23.  12
    Symposium on Marshall's tendencies: 5 Sutton's critique of econometrics.Kevin D. Hoover - 2002 - Economics and Philosophy 18 (1):45-54.
    Through most of the history of economics, the most influential commentators on methodology were also eminent practitioners of economics. And even not so long ago, it was so. Milton Friedman, Paul Samuelson, Trygve Haavelmo, and Tjalling Koopmans were awarded Nobel prizes for their substantive contributions to economics, and were each important contributors to methodological thought. But the fashion has changed. Specialization has increased. Not only has methodology become its own field, but many practitioners have come to agree with Frank Hahn's (...)
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  24.  5
    Thomas Mayer.Kevin D. Hoover - 2015 - Journal of Economic Methodology 22 (4):526-527.
  25.  25
    The struggle for the soul of macroeconomics.Kevin D. Hoover - 2021 - Journal of Economic Methodology 30 (2):80-89.
    Critics argued that the 2007–09 financial crisis was failure of macroeconomics, locating its source in the dynamic, stochastic general-equilibrium model and calling for fundamental re-orientation of the field. Critics exaggerated the role of DSGE models in actual policymaking, and DSGE modelers addressed some criticisms within the DSGE framework. But DSGE modelers oversold their success and even claimed that their approach is the sine qua non of competent macroeconomics. The DSGE modelers and their critics renew an old debate over the relative (...)
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  26.  10
    How can economics be an inductive science?Kevin D. Hoover - 2009 - Economics and Philosophy 25 (2):202.
  27.  7
    Idealizing Reduction: The Microfoundations of Macroeconomics. [REVIEW]Kevin D. Hoover - 2010 - Erkenntnis 73 (3):329 - 347.
    The dominant view among macroeconomists is that macroeconomics reduces to microeconomics, both in the sense that all macroeconomic phenomena arise out of microeconomic phenomena and in the sense that macroeconomic theory—to the extent that it is correct—can be derived from microeconomic theory. More than that, the dominant view believes that macroeconomics should in practice use the reduced microeconomic theory: this is the program of microfoundations for macroeconomics to which the vast majority of macroeconomists adhere. The "microfoundational" models that they actually (...)
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  28. Book Review Column. [REVIEW]Kevin D. Hoover - 2000 - In Craig Freedman & Rick Szostak (eds.), Tales of Narcissus: The Looking Glass of Economic Science. Nova Science Publishers. pp. 123.
     
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  29.  21
    Foundations or Bridges? A review of J. E. King's The microfoundations delusion: metaphor and dogma in the history of macroeconomics. Edward Elgar, 2012, 304 pp. [REVIEW]Kevin D. Hoover - 2013 - Erasmus Journal for Philosophy and Economics 6 (2):88.
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  30.  8
    How can economics be an inductive science? - Error in Economics. Towards a More Evidence-Based Methodology, Julian Reiss, Routledge, 2007, xxiv + 246 pages. [REVIEW]Kevin D. Hoover - 2009 - Economics and Philosophy 25 (2):202-206.
  31.  16
    Truth and progress in economic knowledge (edward elgar, 1997, X + 232 pages) explorations in economic methodology: From Lakatos to empirical philosophy of science (routledge, 1998; VII + 246 pages) Roger E. Backhouse. [REVIEW]Kevin D. Hoover - 2000 - Economics and Philosophy 16 (2):333-378.
  32.  14
    Nature's Capacities and Their Measurement, Nancy Cartwright. Oxford: Clarendon Press, 1989, x + 268 pages. [REVIEW]Kevin D. Hoover - 1990 - Economics and Philosophy 6 (2):309.