Quick question (but complex answer) : R or Python ?
I work as an economist/Strategist in the finance industry. As I do a lot of presentations, notes-writing, data searching, my programming time is limited but we try to develop “small scale” models to answer economic/finance questions. So, I mainly do standard stuff such as PCA/factor models SVAR with sign restrictions, VECM…I usually use what tools is best suited for the job (if I find replication codes I can adapt for instance), so usually MATLAB for SVARs and factor analysis, Eviews for quick and dirty stuff…
Now, I am looking at Python and R (which I dabbled with a few years go). Python is broader and I could use it for other stuff (like automate boring stuff with a comp or an iPad) but it seems there are fewer pure econometrics packages than in R (did not find anything for SVAR with sign restrictions for instance). I am looking to extract data from the web as well, and although they both seem to be able to do that, Python, seems more suited right ?
I know there is always the possibility of calling one from the other (with like Rpy) but then you need to learn both languages. Any advice ?