Advanced Search
MyIDEAS: Login

On the Reception of Haavelmo’s Econometric Thought

Contents:

Author Info

  • Kevin D. Hoover

Abstract

Trygve Haavelmo’s The Probability Approach in Econometrics (1944) has been widely regarded as the foundation document of modern econometrics. Nevertheless, its significance has been interpreted in widely different ways. Some modern economists regard it as a blueprint for a provocative, but ultimately unsuccessful, program dominated by the need for a priori theoretical identification of econometric models. They call for new techniques that better acknowledge the interrelationship of theory and data. Others credit Haavelmo with an approach that focuses on statistical adequacy rather than theoretical identification. They see many of Haavelmo’s deepest insights as having been unduly neglected. The current paper uses bibliometric techniques and a close reading of econometrics articles and textbooks to trace the way in which the economics profession received, interpreted, and transmitted Haavelmo’s ideas. A key irony is that the first group calls for a reform of econometric thinking that goes several steps beyond Haavelmo’s initial vision; while the second group argues that essentially what the first group advocates was already in Haavelmo’s Probability Approach from the beginning.

Download Info

If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
File URL: http://hope.econ.duke.edu/node/483
File Function: main text
Download Restriction: no

Bibliographic Info

Paper provided by Center for the History of Political Economy in its series Center for the History of Political Economy Working Paper Series with number 2012-04.

as in new window
Length: 35
Date of creation: 2012
Date of revision:
Handle: RePEc:hec:heccee:2012-4

Contact details of provider:
Postal: Center for the History of Political Economy Box 90097 Durham, NC 27708-0097
Phone: (919) 660-6899
Web page: http://hope.econ.duke.edu

Related research

Keywords: Trygve Haavelmo; econometrics; history of econometrics; the probability approach; econometric methodology; Cowles Commission;

Find related papers by JEL classification:

This paper has been announced in the following NEP Reports:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:hec:heccee:2012-4. See general information about how to correct material in RePEc.

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Center for the History of Political Economy Webmaster).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.