The History of Econometric Ideas covers the period from the late nineteenth century to the middle of the twentieth century, illustrating how economists first learned to harness statistical methods to measure and test the "laws" of economics. Though scholarly, Dr. Morgan's book is very accessible; it does not require a high level of prior statistical knowledge, and will be of interest to practicing statisticians and economists.
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An advanced level of statistical knowledge is not required for this readable account of how economists learned to harness statistical methods to measure and test the "laws" of economics over the nineteenth and twentieth centuries.Review:
"This book is the first true history of econometrics. It will be used as a reference on specific points, where its accuracy and accessibility are a delight...It also provides food for thought about a whole range of issues that other scholars will take up. This book is a gem in its individual chapters, but the whole is much more than the sum of those parts. The writing is level, clear and restrained; the suggestions are insightful and warranted." Neil de Marchi, Duke University
"Brilliant, almost entirely literary history of the development of econometrics." Cooperative Economics News Service
"Morgan has written a fine book....Morgan's compelling story recaptures the problems and the promise of econometrics past and forces us to think about econometrics future--not about the asymptotic distribution of the latest estimator, but about the relation of economic theory to economic reality." Journal of Economic History
"Morgan offers an excellent review of the origins of this debate and the evolution of the opposing views. A fine effort and a pleasure to read, this is a splendid analysis of the history of econometrics and an important contribution to the literature." Vibha Kapuria-Foreman, History of Political Economy
"Overall, the book is well written and adequately documented and provides a fascinating account of selected major developments in econometrics before 1950....Since the history of ideas is usually controversial and optimal criteria for including ideas in a menu do not exist, Morgan is to be congratulated for presenting us with a memorable and tasty dinner of econometric ideas." Arnold Zellner, Journal of Political Economy
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