The focus of this paper is on starting a critical discussion on the state of econometrics. The problem of information recovery in economics is discussed, and information theoretic methods are suggested as an estimation and inference framework for analyzing questions of a causal nature and...

In this paper, we introduce a flexible and widely applicable nonparametric entropy-based testing procedure that can be used to assess the validity of simple hypotheses about a specific parametric population distribution. The testing methodology relies on the characteristic function of the...

Regarding the current econometric scene, in this review I argue that (a) traditional econometric modeling approaches do not provide a reliable basis for making inferences about the causal effect of a supposed treatment of data in observational and quasi-experimental settings; and (b) the focus...