Evidently, much of subsequent uncertainty (from the standpoint of the econometrician) is able to be forecasted by the agents at the time of their choices.
Because econometricians are very accustomed to thinking in terms of possible models, the semantic approach is likely very intuitive for econometricians.
The numbers of econometricians was obviously much smaller then.
And, as econometricians know very well, in misspecified models the outcome can be seriously distorted.
In the jargon of the econometrician, they are co-integrated.
A colleague joked to me the other day that time-series econometricians have won finance but lost macro.
When an econometrician tries to deal with multicollinearity is that econometrician doing something connected to estimating cause and effect relations?
You started out as a time series econometrician?
