Originally published in 1951, this volume reprints the classic work written by one of the leading global econometricians.
Originally published in 1951, this volume reprints the classic work written by one of the leading global econometricians.Econometrics is structured as followed:Part 1 explains the relationship of Econometrics to Economics and Statistics.Part 2 outlines the process of formulating economic hypotheses mathematically and of subjecting them to a statistical test.Part 3 deals with the various component equations of the economic system - the psychic reactions, technical relations and reactions of business life and describes the process of setting up an economic model of the system as a whole.Part 4 llustrates the use of econometric methods for policy purposes.
Part 1: Introduction 1. The Relationship of Econometrics to Economics and Statistics Part 2: The Working Methods of Econometrics 2. Mathematical Formulation 3. Statistical Testing Part 3: Results of Econometric Research 4. The Psychic Reactions 5. The Technical Relations 6. Reactions of Business Life 7. The Functioning of Economic Systems Part 4: Economic Policy 8. The Use of Economic Research for the Purpose of Economic Policy Appendix A. The Use of Correlation Analysis in Economic Research B. Statistical Evidence on the Acceleration Principle C. Long-Term Foreign Trade Elasticities