Representation in Econometrics: A Historical Perspective
AbstractMeasurement forms the substance of econometrics. This chapter outlines the history of econometrics from a measurement perspective - how have measurement errors been dealt with and how, from a methodological standpoint, did econometrics evolve so as to represent theory more adequately in relation to data? The evolution is organized in terms of four phases: 'theory and measurement', 'measurement and theory', 'measurement with theory' and 'measurement without theory'. The question of how measurement research has helped in the advancement of knowledge advance is discussed in the light of this history.
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Bibliographic InfoPaper provided by Queen Mary, University of London, School of Economics and Finance in its series Working Papers with number 583.
Date of creation: Jan 2007
Date of revision:
Econometrics; History; Measurement error;
Find related papers by JEL classification:
- B16 - Schools of Economic Thought and Methodology - - History of Economic Thought through 1925 - - - Quantitative and Mathematical
- B23 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Econometrics; Quantitative and Mathematical Studies
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- C50 - Mathematical and Quantitative Methods - - Econometric Modeling - - - General
This paper has been announced in the following NEP Reports:
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- NEP-CBA-2007-02-03 (Central Banking)
- NEP-ECM-2007-02-03 (Econometrics)
- NEP-HIS-2007-02-03 (Business, Economic & Financial History)
- NEP-HPE-2007-02-03 (History & Philosophy of Economics)
- NEP-KNM-2007-02-03 (Knowledge Management & Knowledge Economy)
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