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The Formation of EconometricsA Historical Perspective$
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Duo Qin

Print publication date: 1997

Print ISBN-13: 9780198292876

Published to Oxford Scholarship Online: November 2003

DOI: 10.1093/0198292872.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 03 August 2021

The History Revisited

The History Revisited

(p.183) The History Revisited
The Formation of Econometrics

Qin Duo

Oxford University Press

Mainstream econometric research in the 1960s and the 1970s comprised primarily technical refinements and extensions of the structural modelling procedure. The author, therefore marks an end‐point around 1960 in the historical study of the formation of econometrics, and asks in this concluding chapter of the book what should and can be learnt from this period of history with respect to present and future econometric research. She has seen during the historical investigation presented that the key points of historic significance are the junctures at which economic thinking and mathematical statistics merged to match economics with data information. In the light of this, she tries to draw some more concrete lessons from these junctures, hoping to provide some useful points, particularly with respect to issues pertinent to present econometric developments. The prime impression of the history is that most important econometric advances have resulted from ingenious interfusion of statistical ideas with economic thinking, in regard to applied problems of interest, with the single most significant event of this sort being, perhaps, the acceptance of probability theory.

Keywords:   econometric modelling, econometric models, econometrics, economics, history, probability theory, structural modelling

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