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In Praise of Confidence Intervals

David Romer

NBER Working Paper No. 26672
Issued in January 2020
NBER Program(s):Economic Fluctuations and Growth, Labor Studies, Monetary Economics

Most empirical papers in economics focus on two aspects of their results: whether the estimates are statistically significantly different from zero and the interpretation of the point estimates. This focus obscures important information about the implications of the results for economically interesting hypotheses about values of the parameters other than zero, and in some cases, about the strength of the evidence against values of zero. This limitation can be overcome by reporting confidence intervals for papers’ main estimates and discussing their economic interpretation.

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Document Object Identifier (DOI): 10.3386/w26672

Published: David Romer, 2020. "In Praise of Confidence Intervals," AEA Papers and Proceedings, vol 110, pages 55-60. citation courtesy of

 
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