This volume investigates the methodological challenges and practical strategies inherent in the construction, specification, and evaluation of econometric models. Edited by C. W. J. Granger, the text compiles contributions from a diverse group of prominent econometricians to address the gap between theoretical statistics and applied economic modeling. It serves as a comprehensive guide for navigating the controversies and technical hurdles encountered when translating economic theory into empirical frameworks.

Experts identify this collection as a foundational resource for graduate students and researchers engaged in applied econometrics. Readers frequently note the technical density of the prose, which assumes a high level of prior statistical knowledge.