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E-book Econometrics

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Penilaian

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The unifying methodology of modern econometrics was articulated by Trygve Haavelmo (1911- 1999) of Norway, winner of the 1989 Nobel Memorial Prize in Economic Sciences, in his seminal paper “The probability approach in econometrics”, Econometrica (1944). Haavelmo argued that quantitative economic models must necessarily be probability models (by which today we would mean stochastic). Deterministic models are blatently inconsistent with observed economic quantities, and it is incoherent to apply deterministic models to non-deterministic data. Economic models should be explicitly designed to incorporate randomness; stochastic errors should not be simply added to deterministic models to make them random. Once we acknowledge that an economic model is a probability model, it follows naturally that an appropriate tool way to quantify, estimate, and conduct inferences about the economy is through the powerful theory of mathematical statistics. The appropriate method for a quantitative economic analysis follows from the probabilistic construction of the economic model.

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Ketersediaan

Informasi Detail

Judul Seri

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No. Panggil

330.015195 HAN e

Penerbit

USA : University of Wisconsin., 2014

Deskripsi Fisik

387 hlm

Bahasa

English

ISBN/ISSN

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Klasifikasi

330.015195

Tipe Isi

text

Tipe Media

computer

Tipe Pembawa

online resource

Edisi

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Subjek

Econometrics

Info Detail Spesifik

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Pernyataan Tanggungjawab

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Versi lain/terkait

Lampiran Berkas

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