Causal Inference in Economic Models

Stephen F. LeRoy

Oct 2020 · Cambridge Scholars Publishing

About this ebook

There exist applications in many research areas including (but not limited to) economics dealing with causation that are analyzed using multi-equation mathematical models. This book develops and describes a formal treatment of causation in such mathematical models. It serves to replace existing treatments of causation, which almost without exception are vague and otherwise unsatisfactory. Development of theory is accompanied here by extensive analysis of examples drawn from the economics literature: treatment evaluation, potential outcomes, applied econometrics. The theory outlined here will be extremely useful in economics and such related fields as biology and biomedicine.

About the author

Stephen F. LeRoy received a BA in Economics from Cornell University in 1965 and a PhD in Economics from the University of Pennsylvania in 1971. In 1977, he joined the Economics Department at the University of California, Santa Barbara, where he was employed for most of his career (1977-91 and 1996-2007). From 1991 to 1996, he served as Carlson Professor of Finance at the Carlson School of Management at the University of Minnesota. He has authored and co-authored lead articles in the American Economic Review, Econometrica, Journal of Economic Literature, and Journal of Monetary Economics, among others.