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Econometric vs. Causal Structure-Learning for Time-Series Policy Decisions: Evidence from the UK COVID-19 Policies

Bruno Petrungaro, Anthony C. Constantinou

arXiv 9 Feb 2026 · Machine Learning

arXiv:2603.00041 · PDF · DOI · OpenAlex · Extracted main text

Abstract

Causal machine learning (ML) recovers graphical structures that inform us about potential cause-and-effect relationships. Most progress has focused on cross-sectional data with no explicit time order, whereas recovering causal structures from time series data remains the subject of ongoing research in causal ML. In addition to traditional causal ML, this study assesses econometric methods that some argue can recover causal structures from time series data. The use of these methods can be explained by the significant attention the field of econometrics has given to causality, and specifically to time series, over the years. This presents the possibility of comparing the causal discovery performance between econometric and traditional causal ML algorithms. We seek to understand if there are lessons to be incorporated into causal ML from econometrics, and provide code to translate the results of these econometric methods to the most widely used Bayesian Network R library, bnlearn. We investigate the benefits and challenges that these algorithms present in supporting policy decision-making, using the real-world case of COVID-19 in the UK as an example. Four econometric methods are evaluated in terms of graphical structure, model dimensionality, and their ability to recover causal effects, and these results are compared with those of eleven causal ML algorithms. Amongst our main results, we see that econometric methods provide clear rules for temporal structures, whereas causal-ML algorithms offer broader discovery by exploring a larger space of graph structures that tends to lead to denser graphs that capture more identifiable causal relationships.

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49
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78
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Most heavily cited references

The works this paper leans on most, across its whole bibliography — not restricted to papers in our corpus. Ranked by composite intensity, which combines how often a work is mentioned, how many sections mention it, and how much of that falls in the main text rather than the appendix.

ReferenceIntensityMentionsSectionsMain text
1Constantinou, A. and others (2023) Open problems in causal structure learning: A case study of COVID-19 in the UK self1.000113100%
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4Pearl, J (1995) Causal diagrams for empirical research0.64422100%
5Athey, Susan and Imbens, Guido W (2017) The State of Applied Econometrics: Causality and Policy Evaluation0.58531100%
6Meinshausen, Nicolai and Bühlmann, Peter (2006) Variable selection and high-dimensional graphs with the lasso0.58531100%
7Hastie, T. and Efron, B lars: Least Angle Regression, Lasso and Forward Stagewise0.58531100%
8Petrungaro, Bruno and Kitson, Neville K and Constantinou, Anthony C (2025) Investigating potential causes of Sepsis with Bayesian network structure learning self0.51121100%
9Tsamardinos, I. and others (2003) Algorithms for large scale Markov blanket discovery.0.51121100%
10Bouckaert, Remco Ronaldus (1995) Bayesian belief networks: from construction to inference0.51121100%

Showing the top 10 of 49 scored citations.