{"product_id":"international-finance-discussion-papers-united-states-federal-reserve-board-9781288725663","title":"International Finance Discussion Papers: The Fragility of Sensitivity Analysis: An Encompassing Perspective","description":"Robustness and fragility in Leamer's sense are defined with respect to a particular coefficient over a class of models. This paper shows that inclusion of the data generation process in that class of models is neither necessary nor sufficient for robustness. This result holds even if the properly specified model has well-determined, statistically significant coefficients. The encompassing principle explains how this result can occur. Encompassing also provides a link to a more common-sense notion of robustness, which is still a desirable property empirically; and encompassing clarifies recent discussion on model averaging and the pooling of forecasts.\u003cbr\u003e\u003cbr\u003e\u003cb\u003eAuthor:\u003c\/b\u003e United States Federal Reserve Board,Neil R. Ericsson\u003cbr\u003e\u003cb\u003eISBN-10:\u003c\/b\u003e 1288725663\u003cbr\u003e\u003cb\u003eISBN-13:\u003c\/b\u003e 9781288725663\u003cbr\u003e\u003cb\u003ePublisher:\u003c\/b\u003e Bibliogov\u003cbr\u003e\u003cb\u003eLanguage:\u003c\/b\u003e English\u003cbr\u003e\u003cb\u003ePublished:\u003c\/b\u003e 02\/08\/2013\u003cbr\u003e\u003cb\u003ePages:\u003c\/b\u003e 28\u003cbr\u003e\u003cb\u003eFormat:\u003c\/b\u003e Paperback\u003cbr\u003e\u003cb\u003eWeight:\u003c\/b\u003e 0.15lbs\u003cbr\u003e\u003cb\u003eSize:\u003c\/b\u003e 9.69h x 7.44w x 0.06d","brand":"United States Federal Reserve Board","offers":[{"title":"Paperback","offer_id":48449456341247,"sku":"9781288725663","price":15.75,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0662\/2982\/9887\/files\/img_adbcb983-260f-4c63-a821-f04f7c1bee42.jpg?v=1777263470","url":"https:\/\/www.whiterainbookhouse.com\/products\/international-finance-discussion-papers-united-states-federal-reserve-board-9781288725663","provider":"WR Book House","version":"1.0","type":"link"}