BEYOND THE STARS
Abstract
It is frequent to hear in economic seminars or read in academic papers that an effect is economically significant or economically important. Yet, the economic literature is vague on what economic importance means and how it should be measured. In this paper, I show that existing measures of economic importance are flawed and misused. I derive a new metric that measures, in percentage terms, the contribution of each explanatory variable to...
Paper Details
Title
BEYOND THE STARS
Published Date
Aug 6, 2019
Journal
Volume
33
Issue
5
Pages
1409 - 1436
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