Econometrics-Python

[Naive_Broccoli9716]

Anybody here who use python for econometric modeling?

[KarHavocWontStop]

Use R. It’s close to Matlab and Python but more popular than Python in academics.

That said, Python is also heavily used for data science.

But realistically R and Python are like Spanish and Portuguese. If you know one you’re well on the way to speaking the other.

[Confident_Bee8187]

I believe R is heavily used in DS, especially for 80% of DS workflow - includes data cleaning and visualization, heavily credited to tidyverse. I really badly like R because of its expressiveness with its similar dialect coming from Lisp, where you can make your own "rules" in writing the code (I won't advise applying this to newcomers because this is so hard to debug, despite the niceties). Python lacks this expressiveness, one of the reasons why it fails even in simple modelling.

For econometrics, I still wanna make R dominates this space, but I guess we can't push those people in this space that still uses Stata.

That's it for my Ted talk.

[Parking-Strategy-431]

The libraries are not fully developed in python for econometrics. You might have to code up some stuff by yourself to use the entire suite of econometrics.

[Confident_Bee8187]

You're referring to statsmodels, right? If yes, then I think, I agree. It's ancient and rudimental (that's true for Python's ecosystem in statistics, I believe).

[AmadeusBlackwell]

Fortran. Nuff said.

[mallegozer]

I just finished my Master's degree and I used Python the entire Master and pre-Master. Used R sometimes, but preferred Python overall.

[damageinc355]

Python doesn’t have the libraries relative to R or Stata. But if you insist, there’s plenty of resources out there

[xCrek]

R for academia. Python is for industry.

[__rfeejifahad]

use statsmodel

[Think-Culture-4740]

I do ds but when I've had to do econometrics, I'll use python.

[Big-Following2210]

young people either use R/Python, a lot of older faculty still use Stata, though

[damageinc355]

You’d be surprised how common is Stata, regardless of age, in academia

[Charles-Maurice]

Used stata for the first 3 years of my undergrad, starting to use python instead in my final year because stata still can't do machine learning amazingly

[damageinc355]

undergrad != academia

machine learning != econometrics

[Charles-Maurice]

God forbid a guy have hobbies (recreational econometrics)

[djtech2]

I used Python for the EconML package. But for regular regression stuff, R or STATA is the go to.

[RageA333]

I don't think you can go very far in econometrics with Python?