Abstract
One of the clear findings of this book is the diversity of empirical analysis challenges faced by various fields of economics, as can be seen from the discussions in Part II (Empirical Problems in Each Field of Economics). In labor economics and development economics, the explicit identification of causal relationships is emphasized from the perspective of the credibility of empirical research, with natural experiments (NE) and quasi-experiments (QE) being used in the former, and randomized controlled trials (RCTs) being actively used in the latter. On the other hand, in economic history and macroeconomics, the identification of causal relationships through NE, QE, or RCTs is not yet the dominant research method. In the former, quantitative analysis of historical facts is a major challenge, while in the latter, the evaluation of general equilibrium effects of macroeconomic policy is a major issue.
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Notes
- 1.
As mentioned in Chap. 1, the two terms, natural experiment and quasi-experiment, are sometimes used in subtly different ways. However, in this book, we use both without making any particular distinction.
- 2.
This system is called the Real Estate Information Network System (REINS) and is operated in the four regions of Japan. Please refer to http://www.reins.or.jp/about/.
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Otsuka, K., Kurosaki, T., Sawada, Y., Sonobe, T. (2024). Conclusion. In: Otsuka, K., Kurosaki, T., Sawada, Y., Sonobe, T. (eds) Next-Generation of Empirical Research in Economics. Springer, Singapore. https://doi.org/10.1007/978-981-97-1887-0_11
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