Template-type: ReDIF-Paper 1.0
Author-Name:  David F. Hendry
Author-Email: david.hendryd@economics.ox.ac.uk
Author-Workplace-Name: Department of Economics, University of Oxford
Author-Name:  Hans-Martin Krolzig
Author-Workplace-Name: Department of Economics, University of Oxford
Title: We Ran One Regression
Abstract:The recent controversy over model selection in the context
of `growth regressions' has led to some remarkably numerous `estimation'
strategies, including 4 million regressions by Sala-i-Martin (1997b).
Only one regression is really needed, namely the general unrestricted model, 
appropriately reduced to a parsimonious encompassing congruent representation.
Such an outcome was achieved in one run on PcGets, within 15 minutes of receiving
from Professor Ley the data set in Fernández et al (2001). We reproduce that 
equation, and corroborate the findings in Hoover and Perez (2004), who also adopt
an automatic general-to-simple approach.
Length: 9 pages
Creation-Date: 2004-03-10
Number: 2004-W17
File-URL: http://www.nuff.ox.ac.uk/economics/papers/2004/w17/OneReg.pdf
File-Format: application/pdf
Handle: RePEc:nuf:econwp:0417