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The Foundations of Econometric Analysis - David F. Hendry

The Foundations of Econometric Analysis

Hardcover

Published: 29th September 1995
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In this compelling book, David Hendry and Mary Morgan bring together the classic papers of the pioneer econometricians, some of which have never been published before. Together, these papers form the foundations of econometric thought. They are essential reading for anyone seeking to understand the aims, method and methodology of econometrics and the development of this statistical approach in economics. However, because they are technically straightforward, the book is also accessible to students and non-specialists. An editorial commentary places the readings in their historical context and indicates the continuing relevance of these early, yet highly sophisticated, works for current econometric analysis. While this book provides a companion volume to Mary Morgan's acclaimed The History of Econometric Ideas, the editors' commentary both adds to that earlier volume and also provides a stand-alone and synthetic account of the development of econometrics.

'Hendry and Morgan assemble in one place the classics of econometric thought. It is required reading for any student of the history of econometrics or anyone interested in the evolution of one body of thinking about how to interpret empirical evidence.' James Heckman, University of Chicago

Introduction
The Emerging Role of Econometrics in Economics
The scope and method of political economy
Business cycles
Economic cycles: their law and cause
An essay on the nature and significance of economic science
The common sense of econometrics
Early Time Series Analysis
On the study of periodic commercial fluctuations
Correlation of the marriage rate with trade
The correlation of economic statistics
Why do we get nonsense correlations between time series?
On a method of investigating periodicities in disturbed series, with special reference to Wolfer's sunspot numbers
A random difference series for use in the analysis of time series
Calculation and elimination of seasonal fluctuations
Morgenstern on economic forecasting
Applied Econometrics and the Identification Problem
The elasticity of the demand for wheat
Economic cycles: their law and cause
Moore's economic cycles
A moving equilibrium of demand and supply
Statistical laws of demand and supply
Determination and interpretation of supply curves
The Evolution of Statistical Thinking in Econometrics
Statistical laws of demand and supply with special application to sugar
'Pitfalls' debate
Statistical confluence analysis by means of complete regression systems
Linear regression analysis of economic time series
Statistical testing of business cycle theories
Residual variables in regression and confluence analysis
Dynamic Models
Our unstable dollar and the so-called business cycle
The notions of horizon and expectance in dynamic economics
Propagation problems and impulse problems in dynamic economics
Statistical testing of business cycle: theories business cycles in the United States of America 1919-1932
Statistical estimation of economic relationships
Prolegomena to a pressure-analysis of economic phenomena
The Tinbergen Debate
Statistical testing of business cycle theories: a method and its application to investment activity
Professor Tinbergen's method
Mr Keynes on the statistical verification of business cycle theories
Econometric testing of business cycle research
Autonomy of economic relations
Structure and Simultaneity
Economic interdependence and statistical analysis
The probability approach in econometrics
The statistical implications of a system of simultaneous equations
Statistical estimation of economic relationships
The Probabilistic Revolution
The probability approach in econometrics
'Measurement without theory' debate
Exogeneity
When is an equation system complete for statistical purposes?
Towards partial redirection of econometrics, actions, consequences and casual relations
Conclusion
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521380430
ISBN-10: 052138043X
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 576
Published: 29th September 1995
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 24.7 x 17.4  x 3.2
Weight (kg): 1.11