Is it Economics? The Case for a Broad Approach to Economics Research

Abstract

This paper considers whether conventional approaches to economics research may be overlooking some possibilities. While emphasizing certain types of data and analytical techniques, other aspects are downplayed. These alternatives may supplement and add value to existing work. The point is made by considering six perspectives: i) available information and efficiency in research; ii) “econometrics as history”; iii) theory as analogy; iv) questions for policy; v) data availability; and vi) outcome focus.

Keywords: economics research, econometrics, analogy, theory

JEL Classification: B4, B50