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Ta-Chung Liu's Exploratory Econometrics

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  • Hsiang-Ke Chao
  • Chao-Hsi Huang

Abstract

This essay studies the contribution of Ta-Chung Liu to econometrics by focusing on the models and methods of Liu's econometric practices from the 1950s to the 1970s. We document his development of an exploratory econometric approach, a development he effected by experimenting with tools and elements in the model-building process and which led him finally to accept the recursive methodology represented by Herman Wold. We also discuss Liu's theoretical and empirical concerns for econometric models that spurred his involvement in a series of debates against the Cowles Commission approach in the 1960s and 1970s, and we discuss his legacy to contemporary econometrics.

Suggested Citation

  • Hsiang-Ke Chao & Chao-Hsi Huang, 2011. "Ta-Chung Liu's Exploratory Econometrics," History of Political Economy, Duke University Press, vol. 43(5), pages 140-165, Supplemen.
  • Handle: RePEc:hop:hopeec:v:43:y:2011:i:5:p:140-165
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    Cited by:

    1. Pedro Garcia Duarte & Kevin D. Hoover, 2012. "Observing Shocks," History of Political Economy, Duke University Press, vol. 44(5), pages 226-249, Supplemen.

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    Keywords

    econometrics; Ta-Chung Liu;

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