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A History of Econometrics: The Reformation from the 1970s
Contributor(s): Qin, Duo (Author)

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ISBN: 0199679347     ISBN-13: 9780199679348
Publisher: Oxford University Press, USA
OUR PRICE: $141.75  

Binding Type: Hardcover - See All Available Formats & Editions
Published: September 2013
* Out of Print *
Additional Information
BISAC Categories:
- Business & Economics | Econometrics
- Business & Economics | Economic History
- Business & Economics | Economics - Macroeconomics
Dewey: 330.015
Physical Information: 0.9" H x 6.2" W x 9.2" L (1.19 lbs) 248 pages
Features: Bibliography, Dust Cover, Illustrated, Index, Table of Contents
 
Descriptions, Reviews, Etc.
Publisher Description:
Reformation of Econometrics is a sequel to The Formation of Econometrics: A Historical Perspective (1993, OUP) which traces the formation of econometric theory during the period 1930-1960. This book provides an account of the advances in the field of econometrics since the 1970s. Based on
original research, it focuses on the reformists' movement and schools of thought and practices that attempted a paradigm shift in econometrics in the 1970s and 1980s.

It describes the formation and consolidation of the Cowles Commission (CC) paradigm and traces and analyses the three major methodological attempts to resolve problems involved in model choice and specification of the CC paradigm. These attempts have reoriented the focus of econometric research from
internal questions (how to optimally estimate a priori given structural parameters) to external questions (how to choose, design, and specify models). It also examines various modelling issues and problems through two case studies - modelling the Phillips curve and business cycles. The third part of
the book delves into the development of three key aspects of model specification in detail - structural parameters, error terms, and model selection and design procedures. The final chapter uses citation analyses to study the impact of the CC paradigm over the span of three and half decades
(1970-2005). The citation statistics show that the impact has remained extensive and relatively strong in spite of certain weakening signs. It implies that the reformative attempts have fallen short of causing a paradigm shift.

 
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