A Panorama of Additional Concepts for Econometric Analysis and Some Specific Research Issues

Abstract

This address is rather a little of technicality in spirit. It consists of two parts. In the first part, we present a panorama of additional concepts and tools in statistics which would be useful in econometric modeling and inference. They are heavy-tailed distributions, extreme value theory, copulas, quantile regression, Bayesian statistics, maximum entropy econometrics, information theoretical statistics, random sets and inferential models, and fuzzy set data and logics. In the second part, we choose the popular topic of copulas to illustrate some basic (and applied) research issues in economics.