Mastering 'Metrics: The Path from Cause to Effect by Joshua D. Angrist (English)

Description: Mastering 'Metrics by Joshua D. Angrist, Jörn-Steffen Pischke Applied econometrics, known to aficionados as metrics, is the original data science. Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu-themed humor, Mastering Metrics presents the essential tools of econometric research and demonstrat FORMAT Paperback LANGUAGE English CONDITION Brand New Publisher Description Applied econometrics, known to aficionados as metrics, is the original data science. Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu-themed humour, Mastering Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful. The five most valuable econometric methods, or what the authors call the Furious Five - random assignment, regression, instrumental variables, regression discontinuity designs, and differences in differences - are illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Pandas Jade Palace). Does health insurance make you healthier? Randomised experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions? Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them? Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wifes life? Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse. Wielding econometric tools with skill and confidence, Mastering Metrics uses data and statistics to illuminate the path from cause to effect. Back Cover "Written by true masters of metrics, this book is perfect for those who wish to study this important subject. Using real-world examples and only elementary statistics, Angrist and Pischke convey the central methods of causal inference with clarity and wit." --Hal Varian, chief economist at Google "With humor and rigor, this book explores key approaches in applied econometrics. The authors present accessible, interesting examples--using data-heavy figures and graphic-style comics--to teach practitioners the intuition and statistical understanding they need to become masters of metrics. A must-read for anyone using data to investigate questions of causality!" --Melissa S. Kearney, University of Maryland and the Brookings Institution "This valuable book connects the dots between mathematical formulas, statistical methods, and real-world policy analysis. Reading it is like overhearing a conversation between two grumpy old men who happen to be economists--and I mean this in the best way possible." --Andrew Gelman, Columbia University "Modern econometrics is more than just a set of statistical tools--causal inference in the social sciences requires a careful, inquisitive mindset. Mastering Metrics is an engaging, fun, and highly accessible guide to the paradigm of causal inference." --David Deming, Harvard University "Few fields of statistical inquiry have seen faster progress over the last several decades than causal inference. With an engaging, insightful style, Angrist and Pischke catch readers up on five powerful methods in this area. If you seek to make causal inferences, or understand those made by others, you will want to read this book as soon as possible." --Gary King, Harvard University "Posing several well-chosen empirical questions in social science, Mastering Metrics develops methods to provide the answers and applies them to interesting datasets. This book will motivate beginning students to understand econometrics, with an appreciation of its strengths and limits." --Gary Chamberlain, Harvard University "Focusing on five econometric tools, Mastering Metrics presents key econometric concepts. Any field that uses statistical techniques to conduct causal inference will find this book useful." --Melvyn Weeks, University of Cambridge Author Biography Joshua D. Angrist, winner of the 2021 Nobel Prize in Economics, is the Ford Professor of Economics at the Massachusetts Institute of Technology. Jrn-Steffen Pischke is professor of economics at the London School of Economics and Political Science. They are the authors of Mostly Harmless Econometrics (Princeton). Table of Contents List of Figures vii List of Tables ix Introduction xi 1 Randomized Trials 1 1.1 In Sickness and in Health (Insurance) 1 1.2 The Oregon Trail 24 Masters of Metrics: From Daniel to R. A. Fisher 30 Appendix: Mastering Inference 33 2 Regression 47 2.1 A Tale of Two Colleges 47 2.2 Make Me a Match, Run Me a Regression 55 2.3 Ceteris Paribus? 68 Masters of Metrics: Galton and Yule 79 Appendix: Regression Theory 82 3 Instrumental Variables 98 3.1 The Charter Conundrum 99 3.2 Abuse Busters 115 3.3 The Population Bomb 123 Masters of Metrics: The Remarkable Wrights 139 Appendix: IV Theory 142 4 Regression Discontinuity Designs 147 4.1 Birthdays and Funerals 148 4.2 The Elite Illusion 164 Masters of Metrics: Donald Campbell 175 5 Differences-in-Differences 178 5.1 A Mississippi Experiment 178 5.2 Drink, Drank, ... 191 Masters of Metrics: John Snow 204 Appendix: Standard Errors for Regression DD 205 6 The Wages of Schooling 209 6.1 Schooling, Experience, and Earnings 209 6.2 Twins Double the Fun 217 6.3 Econometricians Are Known by Their ... Instruments 223 6.4 Rustling Sheepskin in the Lone Star State 235 Appendix: Bias from Measurement Error 240 Abbreviations and Acronyms 245 Empirical Notes 249 Acknowledgments 269 Index 271 Review "I would be hard pressed to name another econometrics book that can be read for enjoyment yet provides useful quantitative insights."--M.S.R., Financial Analysts Journal Long Description Applied econometrics, known to aficionados as metrics, is the original data science. Metrics encompasses the statistical methods economists use to untangle cause and effect in human affairs. Through accessible discussion and with a dose of kung fu-themed humour, Mastering Metrics presents the essential tools of econometric research and demonstrates why econometrics is exciting and useful. The five most valuable econometric methods, or what the authors call the Furious Five -- random assignment, regression, instrumental variables, regression discontinuity designs, and differences in differences -- are illustrated through well-crafted real-world examples (vetted for awesomeness by Kung Fu Pandas Jade Palace). Does health insurance make you healthier? Randomised experiments provide answers. Are expensive private colleges and selective public high schools better than more pedestrian institutions? Regression analysis and a regression discontinuity design reveal the surprising truth. When private banks teeter, and depositors take their money and run, should central banks step in to save them? Differences-in-differences analysis of a Depression-era banking crisis offers a response. Could arresting O. J. Simpson have saved his ex-wifes life? Instrumental variables methods instruct law enforcement authorities in how best to respond to domestic abuse. Wielding econometric tools with skill and confidence, Mastering Metrics uses data and statistics to illuminate the path from cause to effect. Review Quote "Written by true masters of metrics, this book is perfect for those who wish to study this important subject. Using real-world examples and only elementary statistics, Angrist and Pischke convey the central methods of causal inference with clarity and wit." --Hal Varian, chief economist at Google Details ISBN0691152845 ISBN-10 0691152845 ISBN-13 9780691152844 Format Paperback Imprint Princeton University Press Place of Publication New Jersey Country of Publication United States Publisher Princeton University Press Subtitle The Path from Cause to Effect Media Book DEWEY 330.015195 Pages 304 Short Title MASTERING METRICS Language English Illustrations Yes Year 2014 Publication Date 2014-12-21 Translated from English Textbook 1 NZ Release Date 2014-12-21 US Release Date 2014-12-21 UK Release Date 2014-12-21 Author Jörn-Steffen Pischke Edition Description with French flaps Alternative 9780691152837 Audience Tertiary & Higher Education AU Release Date 2015-03-02 We've got this At The Nile, if you're looking for it, we've got it. 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