2011/02/14 by M. Hashem Pesaran · 1 citation
Computer Science · Decision Sciences · Economics, Econometrics and Finance · #Statistical and Computational Modeling #Forecasting Techniques and Applications #Monetary Policy and Economic Impact
paper · doi:10.1057/9780230226203.2430
openalex publication_date 2011/02/14 · openalex created_date 2022/05/12 · openalex updated_date 2026/07/31
Econometrics is a rapidly developing branch of economics which, broadly speaking, aims to give empirical content to economic relations. The term ‘econometrics’ appears to have been first used by Pawel Ciompa as early as 1910; although it is Ragnar Frisch, one of the founders of the Econometric Society, who should be given the credit for coining the term, and for establishing it as a subject in the sense in which it is known today (see Frisch 1936, p. 95). Econometrics can be defined generally as ‘the application of mathematics and statistical methods to the analysis of economic data’, or more precisely in the words of Samuelson, Koopmans and Stone (1954),