Monday, December 15, 2014

Causal Modeling Update

In an earlier post on predictive modeling and causal inference, I mentioned my summer "reading list" for causal modeling:
Re-read Pearl, and read the Heckman-Pinto critique.
Re-read White et al. on settable systems and testing conditional independence.
Read Angrist-Pischke.
Read Wolpin, and Rust's review.
Read Dawid 2007 and Dawid 2014.
Get and read Imbens-Rubin (available early 2015).
I'm sure I'll blog on some of the above in due course. Meanwhile I want to add something to the list: Pearl's response to Heckman-Pinto. (I just learned of it.)

One of its themes resonates with me: Econometrics needs to examine more thoroughly the statistical causal modeling literature vis-à-vis standard econometric approaches. (The irreplaceable Hal White started building some magnificent bridges, but alas, he was taken from us much too soon.) Reasonable people will have sharply different views as to what's of value there, and the discussion is far from over, but I'm grateful to the likes of Pearl, White, Heckman, and Pinto for starting it.