In the article we explain the basis of a series of comparisons of the explanations of the major macroeconomic
variables in the UK economy which we are undertaking in a research project financed by HM Treasury. We seek
to explain why it is that, despite the apparent objectivity of econometric method, modellers of the economy have
published widely differing results. We illustrate our method with findings from the study of exports of manufactured
goods, which present some clear examples of the difficulties encountered throughout the project. Full results will
be available from the Institute. (1)
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