I Just Ran Two Million Regressions
批评极端边界法过于悲观,转而分析整个系数分布,发现许多变量与经济增长有强相关关系。
In this paper I try to move away from the Extreme Bounds method of identifying robust empirical relations in the economic growth literature. Instead of analyzing the extreme bounds of the estimates of the coefficient of a particular variable, I analyze the entire distribution. My claim in this paper is that, if we do this, the picture emerging from the empirical growth literature is not the pessimistic Nothing is Robust that we get with the extreme bound analysis. Instead, we find that a substantial number of variables can be found to be strongly related to growth.