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They could well be the few factors that, in aggregate at a population level, give the greatest explanatory power. And which have then been roughly calibrated.
by stevesimmons 4y ago
They could well be the few factors that, in aggregate at a population level, give the greatest explanatory power. And which have then been roughly calibrated.
The resulting model can be well be accurate in aggregate for informing policy decision tradeoffs. Just totally irrelevant for an individual's particular circumstances...
- notahacker 4y agoSuspect if they're getting more explanatory power from which part of the world their family originated from than any kind of indicator of actual employment history, it's because they either don't have enough usable employment history data or they badly misspecified the employment history indicators. Agree that the macro model they have might nevertheless be relevant to certain policy decisions, but not individual ones.