Leamer on the State of Econometrics

<p>Ed Leamer of UCLA talks with EconTalk host Russ Roberts about the state of econometrics. He discusses his 1983 article, &quot;Let's Take the 'Con' Out of Econometrics&quot; and the recent interest in natural experiments as a way to improve empirical work. He also discusses the problems with the &quot;fishing expedition&quot; approach to empirical work. The conversation closes with Leamer's views on macroeconomics, housing, and the business cycle and how they have been received by the profession.</p>