Product Description

The core methods in today's econometric toolkit are linear regression for statistical control, instrumental variables methods for the analysis of natural experiments, and differences-in-differences methods that exploit policy changes. In the modern experimentalist paradigm, these techniques address clear causal questions such as: Do smaller classes increase learning? Should wife batterers be arrested? How much does education raise wages? Mostly Harmless Econometrics shows how the basic tools of applied econometrics allow the data to speak.

In addition to econometric essentials, Mostly Harmless Econometrics covers important new extensions--regression-discontinuity designs and quantile regression--as well as how to get standard errors right. Joshua Angrist and Jörn-Steffen Pischke explain why fancier econometric techniques are typically unnecessary and even dangerous. The applied econometric methods emphasized in this book are easy to use and relevant for many areas of contemporary social science.

• An irreverent review of econometric essentials
• A focus on tools that applied researchers use most
• Chapters on regression-discontinuity designs, quantile regression, and standard errors
• Many empirical examples
• A clear and concise resource with wide applications

Product Details

• Amazon Sales Rank: #38208 in Books
• Published on: 2009-01-04
• Original language: English
• Number of items: 1
• Binding: Paperback
• 392 pages

Review
A quirky and thought-provoking read for any budding econometrician. . . . Insightful and refreshing.
(James Davidson Times Higher Education )

I'd recommend it to the entire range of empirical economists, from those still in training to those who, like me, have only a hazy memory of statistical theory and stick to our tried and tested methods of estimation . . . an excellent guide to how to do basic regression/IV/panel data estimation really well. In particular, it demonstrates through many examples how to bring about a happy marriage between one's underlying model and the data which might or might not confirm the researcher's hypotheses.
(Diane Coyle The Enlightened Economist Blog )

The applied econometric methods emphasized in this book are easy to use and relevant for many areas of contemporary social sciences.
(Pavel Stoynov Zentralblatt MATH )

Review
This pathbreaking book is a must-read for any scientist who is interested in formulating and testing hypotheses about the social world. This includes political scientists, sociologists, historians, geographers, and anthropologists. The book is clever and funny, and guides you through the tangle of problems that confront empirical research in social science. I wish I had had it years ago.
(James Robinson, Harvard University )

From the Back Cover

"This pathbreaking book is a must-read for any scientist who is interested in formulating and testing hypotheses about the social world. This includes political scientists, sociologists, historians, geographers, and anthropologists. The book is clever and funny, and guides you through the tangle of problems that confront empirical research in social science. I wish I had had it years ago."--James Robinson, Harvard University

"What a fascinating and useful book! The application of econometrics in empirical research is as much art as science. What is most distinctive about Mostly Harmless Econometrics relative to other graduate-level econometrics books (besides the colorful prose style!) is that because the authors are longtime practitioners of applied microeconometrics, they speak often and insightfully about the art. I expect it's a great thing to work in the same department with Angrist or Pischke and to be able to ask their advice. Having this book close at hand is the next best thing. When you consult the book to see 'What would Angrist and Pischke do?' about econometric issues you encounter in your own research, you won't necessarily end up doing what they would in every single instance, but I bet you always will benefit from getting their take on the issue."--Gary Solon, Michigan State Universit

"Interesting and unusual, this is an econometrics book with attitude. It offers real answers and suggestions to problems faced daily by those engaged in the analysis of economic data. I will recommend it to my students."--Guido Imbens, Harvard University

"A well-written and very quirky take on econometric practice."--Orley Ashenfelter, Princeton University

Customer Reviews

Mostly useful econometrics
First, I should say I am a lecturer at the London School of Economics, so I am a colleague of one of the authors. But we work on different things, I am a macroeconomist, most of my work is theoretical, so I have little interaction with Steve Pischke. I've bought the book, was very well impressed, and decided to post my honest assessment of it here.

Although this book is not written as a 1st-year PhD econometrics book, I think it covers exactly what I wish my first graduate course in econometrics would have covered, I wish I had learned econometrics from a book like this. Unfortunatelly I didn't. While I find the topics covered here intelectually estimulating and very useful, much of what was taught to me in econometrics was boring and ended up being quite useless. Worse, many things that are very important (namely the conceptual discussion behind what we are doing when we do econometrics) are never really covered in most econometric courses, and while I like to think I ended up learning some of it going to seminars, thinking about it, talking to people, I am sure there is much I should know but I don't. This book has been filling those gaps.

I highly recommend this book for all economists interested in understanding and critically evaluating work on applied econometrics and any social scientists interested in quantitative work.

Amazing, the New Econometrics Bible
This book is of invaluable importance for every student in economics who is willing to undertake research career at the empirical level. This new approach to econometrics and this book allow students to have clear ideas on what to do while conducting research. The New Bible.