Keisuke Hirano: Econometrics Haiku

"Supply and demand:
without a good instrument,
not identified.


Panel data hint--
for OVB use FE,
or use CRE.


T-stat looks too good.
Use robust standard errors--
significance gone.


Emptiness of mind,
Like a blank sheet of paper.
General exams.


Method of moments:
replace population mean
with sample version.


Complete class theorem:
admissible rules are Bayes;
the converse also.


Testing restrictions:
Wald, Lagrange Multiplier,
Likelihood Ratio.


From negation comes
growth, progress; not unlike a
referee report.


Consumption Smoothing (after L. Peter Deutsch)
Use value functions:
to iterate is human;
to recurse, divine.


Note: these were written as a sort of thank-you to my dissertation committee in 1998, as evidence that I had learned some things in graduate school. . ."