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The History of Econometric Ideas : Historical Perspectives on Modern Economics - Mary S. Morgan

The History of Econometric Ideas

Historical Perspectives on Modern Economics

Paperback Published: 10th February 1992
ISBN: 9780521424653
Number Of Pages: 316

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The History of Econometric Ideas covers the period from the late nineteenth century to the middle of the twentieth century, illustrating how economists first learned to harness statistical methods to measure and test the "laws" of economics. Though scholarly, Dr. Morgan's book is very accessible; it does not require a high level of prior statistical knowledge, and will be of interest to practicing statisticians and economists.

Industry Reviews

'The book is so obviously valuable ... Historians of the discipline of economics will have to read and often refer to this book, which is remarkably well written and documented.' Professor Edmond Malinvaud, The Economic Journal 'Mary Morgan has written a fascinating and readable account of the development of econometrics, free of technicality and offering a whole agenda of questions for other scholars. [It] will be a major reference work; it is also much more than that, offering a most valuable historical and interdisciplinary perspective on one of the most important developments in economics ... a splendid piece of work.' The Times Higher Education Supplement 'Dr Morgan is to be congratulated for presenting us with a memorable and tasty dinner of econometric ideas.' Professor Arnold Zellner, Journal of Political Economy 'Morgan is a creative pioneer, and a skilled historian who has pieced together a delightful story.' Dr David Greasley, Economic History Review 'This book is a gem in its individual chapters, but the whole is much more than the sum of those parts. The writing is level clear and restrained; the suggestions are insightful and warranted.' Professor Neil de Marchi, Duke University

List of figures
Business Cycles: Introduction to business cycles
Sunspot and Venus theories of the business cycle
Jevons' sunspot theory
Moore's Venus theory
The decline of periodic cycle analysis
Measuring and representing business cycles
Juglar's credit cycle
The statistical approach of
Persons and business barometers
The business cycle research institutes
Statistical economics and econometrics; Addendum: graphs and graphic methods
Random shocks enter the business cycle scene
The experiments of Yule and Slutsky
Frisch's time-series analysis
Frisch's rocking horse model of the business cycle
Tinbergen and macrodynamic models
The Dutch model
The first League of Nations' report
The second League of Nations' report
the critical reaction to Tinbergen's work
Demand Analysis: Introduction to demand analysis
Narrowing the data-theory gap in demand analysis
Difficulties in early statistical measurements of demand
Static theory and time-series data
Econometric models of demand
The data-theory gap under review
The evolution of identification questions
The emergence of correspondence problems
Identifying the demand curve
The identification of two relationships
Back to the single demand curve
Formal models in econometrics: Introduction to formal models
Errors-in-variables and errors-in equations models
Errors and the single equation
Errors and interdependent relationships
Postscript: measurement errors and the method of instrumental variables
Haavelmo's probability model
Statistics without probability
Signs of change
Haavelmo's probabilistic revolution in econometrics
The new consensus
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521424653
ISBN-10: 0521424658
Series: Historical Perspectives on Modern Economics
Audience: Professional
Format: Paperback
Language: English
Number Of Pages: 316
Published: 10th February 1992
Country of Publication: GB
Dimensions (cm): 22.81 x 15.29  x 1.96
Weight (kg): 0.48

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