The Years of High Econometrics
A Short History of the Generation that Reinvented Economics
1st Edition
Published on 22. March 2012
Book
Paperback/Softback
400 pages
978-0-415-51457-6 (ISBN)
Description
A fascinating and comprehensive history, this book explores the most important transformation in twentieth century economics: the creation of econometrics.
Containing fresh archival material that has not been published before and taking Ragnar Frisch as the narrator, Francisco Louca discusses both the keys events - the establishment of the Econometric Society, the Cowles Commission and the journal Econometrica - and the major players - economists like Wesley Mitchell, mathematicians like John von Neumann and statisticians like Karl Pearson - in history that shaped the development of econometrics.
He discusses the evolution of their thought, detailing the debates, the quarrels and the interrogations that crystallized their work and even offers a conclusion of sorts, suggesting that some of the more influential thinkers abandoned econometrics or became critical of its development.
International in scope and appeal, The Years of High Econometrics is an excellent accompaniment for students taking courses on probability, econometric methods and the history of economic thought.
Containing fresh archival material that has not been published before and taking Ragnar Frisch as the narrator, Francisco Louca discusses both the keys events - the establishment of the Econometric Society, the Cowles Commission and the journal Econometrica - and the major players - economists like Wesley Mitchell, mathematicians like John von Neumann and statisticians like Karl Pearson - in history that shaped the development of econometrics.
He discusses the evolution of their thought, detailing the debates, the quarrels and the interrogations that crystallized their work and even offers a conclusion of sorts, suggesting that some of the more influential thinkers abandoned econometrics or became critical of its development.
International in scope and appeal, The Years of High Econometrics is an excellent accompaniment for students taking courses on probability, econometric methods and the history of economic thought.
Reviews / Votes
'A fascinating book.' Kevin D. Hoover, Duke University, USA in the Journal of the History of Economic ThoughtMore details
Series
Language
English
Place of publication
London
United Kingdom
Publishing group
Taylor & Francis Ltd
Target group
College/higher education
Illustrations
21 s/w Zeichnungen, 11 s/w Photographien bzw. Rasterbilder, 32 s/w Abbildungen, 10 s/w Tabellen
10 Tables, black and white; 21 Line drawings, black and white; 11 Halftones, black and white; 32 Illustrations, black and white
Dimensions
Height: 234 mm
Width: 156 mm
Thickness: 22 mm
Weight
608 gr
ISBN-13
978-0-415-51457-6 (9780415514576)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
Francisco Louca
The Years of High Econometrics
A Short History of the Generation that Reinvented Economics
Book
07/2007
1st Edition
Routledge
€232.80
Shipment within 15-20 days
Francisco Louca
The Years of High Econometrics
A Short History of the Generation that Reinvented Economics
E-Book
11/1998
Routledge
€77.99
Available for download
Francisco Louca
The Years of High Econometrics
A Short History of the Generation that Reinvented Economics
E-Book
11/1998
Routledge
€77.99
Available for download
Person
Francisco Louca is Associate Professor of Economics at ISEG (Lisbon), where he teaches macroeconomics and the history of economics.
He is part of a research team on complexity in economics, and published several books and a number of papers, namely in economic journals (Cambridge Journal of Economics, Economic Journal, History of Political Economy, etc.) but also in journals of theoretical physics (Physica A, etc.).
He got the prize of the History of Economics Association for the best paper published in 1999.
He was elected member of Parliament in 1999, and reelected in 2002 and 2005 (for the Left Block), serving currently at the Budget Commission. Louca was involved in a major reform of the fiscal laws in Portugal (2000) as well as in other legislation on economic and social matters.
Francisco Louca is Associate Professor of Economics at ISEG (Lisbon), where he teaches macroeconomics and the history of economics.
He is part of a research team on complexity in economics, and published several books and a number of papers, namely in economic journals (Cambridge Journal of Economics, Economic Journal, History of Political Economy, etc.) but also in journals of theoretical physics (Physica A, etc.).
He got the prize of the History of Economics Association for the best paper published in 1999.
He was elected member of Parliament in 1999, and reelected in 2002 and 2005 (for the Left Block), serving currently at the Budget Commission. Louca was involved in a major reform of the fiscal laws in Portugal (2000) as well as in other legislation on economic and social matters.
He is part of a research team on complexity in economics, and published several books and a number of papers, namely in economic journals (Cambridge Journal of Economics, Economic Journal, History of Political Economy, etc.) but also in journals of theoretical physics (Physica A, etc.).
He got the prize of the History of Economics Association for the best paper published in 1999.
He was elected member of Parliament in 1999, and reelected in 2002 and 2005 (for the Left Block), serving currently at the Budget Commission. Louca was involved in a major reform of the fiscal laws in Portugal (2000) as well as in other legislation on economic and social matters.
Francisco Louca is Associate Professor of Economics at ISEG (Lisbon), where he teaches macroeconomics and the history of economics.
He is part of a research team on complexity in economics, and published several books and a number of papers, namely in economic journals (Cambridge Journal of Economics, Economic Journal, History of Political Economy, etc.) but also in journals of theoretical physics (Physica A, etc.).
He got the prize of the History of Economics Association for the best paper published in 1999.
He was elected member of Parliament in 1999, and reelected in 2002 and 2005 (for the Left Block), serving currently at the Budget Commission. Louca was involved in a major reform of the fiscal laws in Portugal (2000) as well as in other legislation on economic and social matters.
Content
Introduction Part 1: Foundation 1. 'Not Afraid of the Impossible': Ragnar Frisch, 1895-1973 2. The Emergence of Social Physics: The Econometric People are Assembled 3. The Years of High Theory Part 2: Construction 4. What Counts is What Can be Counted 5. Particles or Humans: Paradoxes of Mechanics Part 3: Debates 6. Challenging Keynes: The Econometric Movement Builds its Trenches 7. Intriguing Pendula: Delights and Dangers of Econometric Conversation 8. Quod Errat Demonstrandum: The Concept of Probability Puzzling the Econometricians Part 4: Theory and Practice at the Edge 9. Chaos or Randomness 10. Is Capitalism Doomed?: A Nobel Discussion 11. Prometheus Tired of War 12. Conclusion: A Brave New World