The topic of econometric methodology is vast and controversial. For those interested in this topic, I suggest the following books:
Neil de Marchi and Christopher Gilbert, eds., History and Methodology of Econometrics, Oxford University Press, New York, 1989. This collection of readings discusses some early work on econometric methodology and has an extended discussion of the British approach to econometrics relating to time series data, that is, data collected over a period of time.
Wojciech W. Charemza and Derek F. Deadman, New Directions in Econometric Practice: General to Specific Modelling, Cointegration and Vector Auto-gression, 2d ed., Edward Elgar Publishing Ltd., Hants, England, 1997. The authors of this book critique the traditional approach to econometrics and give a detailed exposition of new approaches to econometric methodology.
Adrian C. Darnell and J. Lynne Evans, The Limits of Econometrics, Edward Elgar Publishers Ltd., Hants, England, 1990. The book provides a somewhat
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