Meta regression analysis addresses the rising tower of babel that current economics and business research has become. Metaregression approximations to reduce publication selection bias, research synthesis methods, 51. Macdonald professor of economics amy finkelstein and economics phd candidate abby ostriker. As we have mentioned before, multiple metaregression, while very useful when applied properly, comes with certain caveats we have to know and consider when fitting a model.
A motivating example of metaregression analysis 11 1. Linear regression analysis on net income of an agrochemical company in thailand. As illustrated in figure 2, the metaanalysis of economics studies usually. Metaregression analysis in economics and business hendrix. You can think of metaregression as a standard meta analysis that incorporates moderators into the model. Metaregression analysis as the socioeconomics of economic. Metaregression analysis as the socioeconomics of economics. Metaregression analysis mra is metaeconometrics, uses the very tools that produce economics research, and provides a rigorous, objective alternative to conventional.
Metaregression analysis mra provides an empirical framework through which to integrate disparate economics research results, filter out likely publication selection bias, and explain their wide variation using socioeconomic and econometric explanatory variables. Their use has grown rapidly over the last few decades. In typical metaanalyses, we do not have the individual data for each participant available, but only the aggregated effects, which is why we have to perform metaregressions with predictors on a study level. Shows how mra enables researchers to make sense of disparate economic findings on the same subject.
Metaregression analysis in economics and business routledge advances in research methods stanley, t. Thus, there are some points we have to keep in mind when fitting multiple metaregression models, which we will describe in the following. Metaregression has gained popularity in social, behavioral and economic sciences. A bayesian metaregression analysis was performed to assess associations of unemployment with cancer type, country of origin, average age at diagnosis, and background unemployment rate. You may have already performed regressions in regular data where participants or patients are the unit of analysis. Meta regression analysis in economics and business. Jul 06, 2012 metaregression analysis addresses the rising tower of babel that current economics and business research has become. Nonetheless, the routine application of meta regression analysis. Metaregression analysis in economics and business taylor.
The effect size is the risk ratio, with a riskratioof 0. Heckman metaregression, deakin university economics working paper no. Meta regression is more effective at this task than are standard meta analytic techniques. It seeks to summarize, evaluate and analyse what we know about a given empirical question, phenomenon, or effect. Feb 08, 2021 request pdf metaregression analysis in economics and business the purpose of this book is to introduce novice researchers to the tools of meta analysis and metaregression analysis and to. A metaregression analysis hristos doucouliagos and t. Introduction identifying and coding meta analysis data summarizing meta analysis data publication bias and its discontents explaining economics research economic theory and metaregression analysis further topics in metaregression analysis. Metaregression analysis mra is a quantitative method of conducting literature surveys.
Metaregression analysis in economics and business t. Meta analysis is the statistical analysis of previously published, or reported, research findings on a given hypothesis, empirical effect, phenomenon, or policy intervention. Results twentysix articles describing 36 studies met the inclusion criteria. Metaregression analysis in economics and business dro. To improve transparency and to raise the quality of mra, the meta. The analyses included 20 366 cancer survivors and 157 603 healthy control. For instance, in the case of real economic growth, the subsample analysis for the number. In dozens of applications, mra has found excess variation among reported research findings, some of which is explained by socio economic. In particular, as shown in table 2, the correlation between meta analysis estimates and estimates obtained from the joint sample analysis with the 8 df logistic regression test, as computed for a f 1 a f 2 0. Regression analysis formulas, explanation, examples and.
Metaregression analysis in economics and business 1st. Producing credible estimates from diverse evidence. Metaregression methods can be used to develop evidencebased. Metaregression analysis in economics and business request pdf. Mra is the statistical analysis of previously reported regression results stanley and jarrell, 1989. Indeed, some argue that multiple metaregression is often improperly used and interpreted in practice, leading to a low validity of many metaregression models higgins and thompson 2004. Metaregression analysis in economics and business gbv. The purpose of this research is to analyze the abc companys data and verify whether the regression analysis methods and models would work effectively in the abc company based in bangkok, thailand. Producing credible estimates from diverse evidence metaregression methods can be used to develop evidencebased.
Metaregression has been employed as a technique to derive improved parameter estimates that are of direct use to policy makers. The purpose of this research is to analyze the abc companys data and verify whether the regression analysis methods and models would work effectively in the abc company based in. Meta regression analysis defended at the institute of economic studies. Metaregression analysis is a quantitative method of systematically analysing the results of empirical studies with a common objective. Quick start perform metaregression of the effect size, meta es, on covariate moderator x1. We then investigate the factors that may explain differences in the estimated effects that are reported in the literature. There are a number of strategies for identifying and coding empirical observational data. Metaregression is more effective at this task than are standard metaanalytic techniques. University of groningen faculty of economics and business. Important applications have focused on qualifying estimates of policyrelevant parameters, testing economic theories, explaining heterogeneity, and qualifying potential biases. Metaregression analysis mra provides an empirical framework through. A motivating example of metaregression analysis 21. Metaregression analysis mra provides an empirical framework through which to integrate disparate economics research results, filter out likely publication selection bias, and explain their wide variation using socio economic and econometric explanatory variables. Develops methods that help researchers to distinguish publication selection from genuine empirical effect.
Metaanalysis of emerging markets and economies taylor. This volume celebrates the innovative and rapidly growing area of economic research known as metaregression analysis mra. Identifying and correcting publication selection bias in the efficiencywage literature. In this article, we present the results of a rigorous metaregression analysis based on 545 estimates drawn from 1 studies that empirically tested the tourismled growth hypothesis tlgh. However, many clinicians and decisionmakers may be unfamiliar with the underlying principles and assumptions made within metaregression leading to incorrect interpretation of their results. I found the comprehensive meta analysis software program to be extremely user friendly, providing instant computational data from the simplest to the most complex statistical problems, a versatile database to help organize and restructure large volumes of multifaceted data, and parallel visuals that help better understand your data. Once we account for this, we find evidence of a genuine effect of education on economic growth. Request pdf metaregression analysis in economics and business the purpose of this book is to introduce novice researchers to the tools of meta analysis and metaregression analysis and to. Meta analysis is about identifying and calculating the effect size of globalisation on income inequality while meta regression aims to uncover. Meta analysis is the statistical analysis of an entire empirical literature. Mit news highlights research coauthored by john and jennie s. The purpose of this book is to introduce novice researchers to the tools of metaanalysis and metaregression analysis and to summarize. Stanley abstract card and kruegers meta analysis of the employment effects of minimum wages challenged existing theory. The iza institute of labor economics is an independent economic research institute that conducts research in labor economics and offers.
Publication selection bias in minimumwage research. Metaregression analysis addresses the rising tower of babel that current economics and business research has become. Metaregression methods for detecting and estimating empirical effect in the presence of publication bias. The dissertation was granted first place in the nbs.
Indeed, some argue that multiple metaregression is often improperly used and interpreted in practice, leading to a low validity of many metaregression models. Meta regression analysis can help to explain the wide studytostudy variation found. Practical significance, metaanalysis and the credibility of economics. Metaregression analysis in economics and business stanley, t. Metaregression examines the impact of moderator variables on study effect size using regressionbased techniques.
This paper offers a metaregression analysis of the literature on the drivers of financial development. Introduction to metaregression analysis hendrix college. Metaregression analysis in economics and business book. However, many clinicians and decisionmakers may be unfamiliar with the underlying principles and assumptions made within metaregression leading to incorrect. Applies these methods to topical areas of economic research. Simple regression does not allow for within study variation. Numerous studies have focused on delineating the relationship between tourism and economic growth. Stanley is professor of economics and business, hendrix college.
A growing number of economics metaanalyses have reached the mark of 500 or more citations, examples. Metaregression analysis in economics and business 1st edition. How to perform a metaregression columbia public health. Metaregression provides a framework for replication and offers a sensitivity analysis for model specification. The metaregression results are often confirmed by the subsample analysis.
Jan 14, 2020 simple linear regression is commonly used in forecasting and financial analysis for a company to tell how a change in the gdp could affect sales, for example. Specifically, we apply metaregression analysis to 56 studies with 979 estimates and show that there is substantial publication selection bias towards a positive impact of education on growth. Unfortunately, their meta analysis confused publication selection with the absence of a genuine empirical effect. Metaregression analysis in economics and business routledge. Faculty of business and law school of accounting, economics and finance. Modified msrs is a powerful method to perform meta analysis in casecontrol gwas and can be used to summarize pvalues and to obtain the common estimates of model parameters 3 implementation. Meta regression examines the impact of moderator variables on study effect size using regression based techniques. Metaregression analysis in economics and business ebook. Pdf metaregression analysis in economics and business.
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