James Heckman on Facts, Evidence, and the State of Econometrics

EconTalk

Library of Economics and Liberty

Economics, Social Sciences, Society & Culture, Education, Science, Books, Philosophy, History, Ethics, Courses, Business, Interviews

4.7 • 4.4K Ratings

🗓️ 25 January 2016

⏱️ 64 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Nobel Laureate James Heckman of the University of Chicago talks with EconTalk host Russ Roberts about the state of econometrics and the challenges of measurement in assessing economic theories and public policy. Heckman gives us his take on natural experiments, selection bias, randomized control trials and the reliability of sophisticated statistical analysis. The conversation closes with Heckman reminiscing about his intellectual influences throughout his career.

Transcript

Click on a timestamp to play from that location

0:00.0	Welcome to E-Contact, part of the Library of Economics and Liberty.
0:08.2	I'm your host, Russ Roberts of Stanford University's Hoover Institution.
0:13.1	Our website is econtalk.org, where you can subscribe, comment on this podcast, and find
0:18.1	links and other information related to today's conversation.
0:21.0	You'll also find our archives where you can listen to every episode we've ever done
0:25.2	going back to 2006.
0:27.5	Our email address is mailadycontalk.org.
0:30.0	We'd love to hear from you.
0:36.0	I want to remind listeners that we're doing a survey for your favorite episodes of 2015.
0:40.9	You have until January 31st, so please go to econtalk.org, and in the upper left-hand corner,
0:48.4	you'll find a link to the survey, so please vote.
0:51.3	Today is January 11th, 2016, and my guest is James Heckman.
0:56.9	The Henry Schultz Distinguished Service Professor of Economics at the University of Chicago,
1:01.5	and Winter of the Nobel Prize in 2000, Jim, welcome to e-contact.
1:05.8	Nice to be with you, Russell.
1:07.9	Much of your contribution in econometrics is related to what is sometimes called selection
1:12.4	bias.
1:14.0	The people or data that we observe may not be like the people or data we don't observe.
1:19.2	How much progress do you think we've made in this area?
1:22.6	I think a lot of progress has been made.
1:24.4	I think the initial literature was really pointing out the problem, which had been neglected
1:30.5	by many economists, not all by any means.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Library of Economics and Liberty, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Library of Economics and Liberty and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.