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Home > Catalog > Econometrics and Economic Theory in the 20th Century
Econometrics and Economic Theory in the 20th Century


  • 23 b/w illus. 47 tables
  • Page extent: 644 pages
  • Size: 228 x 152 mm
  • Weight: 1.084 kg

Library of Congress

  • Dewey number: 330/.01/5195
  • Dewey version: 21
  • LC Classification: HB139 .E289 1998
  • LC Subject headings:
    • Frisch, Ragnar,--1895-1973
    • Econometrics--History--Congresses
    • Econometric models--History--Congresses

Library of Congress Record

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 (ISBN-13: 9780521633239 | ISBN-10: 0521633230)

  • Also available in Paperback
  • Published January 1999

Manufactured on demand: supplied direct from the printer

$180.95 (C)

Ragnar Frisch (1895-1973) received the first Nobel Memorial Prize in Economic Science together with Jan Tinbergen in 1969 for having played an important role in ensuring that mathematical techniques figure prominently in modern economic analysis. This collection explores his contributions to econometrics and other key fields in the discipline, as well as the results of new research. Contributors include eminent scholars from Europe, the United Kingdom and North America who investigate themes in utility measurement, production theory, microeconomic policy, econometrics methods, macrodynamics, and macroeconomic planning.


Introduction; List of contributors; Part I. Ragnar Frisch and his Contributions to Economics: 1. Ragnar Frisch at the University of Oslo Jens C. Andvig and Tore Thonstad; 2. Ragnar Frisch and the foundation of the econometric society and Econometrica Olav Bjerkholt; 3. The contributions of Ragnar Frisch to economics and econometrics John S. Chipman; Part II. Utility Measurement: 4. Nonparametric estimation of exact consumer surplus and deadweight loss Jerry A. Hausman and Whitney K. Newey; 5. Consumer demand and intertemporal allocations: Engle, Slutsky and Frisch Richard Blundell; Part III. Production Theory: 6. Production functions: the search for identification Zvi Griliches and Jacques Mairesse; 7. Investment and growth Dale W. Jorgenson; Part IV. Microeconomic Policy: 8. Evaluating the Welfare State James J. Heckman and Jeffrey Smith; 9. Frisch, hotelling and the marginal-cost pricing controversy Jean-Jacques Laffont; Part V. Econometrics Methods: 10. Scientific explanations in econometrics Bernt P. Stigum; 11. An autoregressive distribution-lag modelling approach to cointegration analysis M. Hashem Pesaran and Yongcheol Shin; 12. Econometric issues related to errors in variables in financial models G. S. Maddala; 13. Statistical analysis of some nonstationary time series Søren Johansen; Part VI. Macrodynamics: 14. Frisch's vision and explanation of the trade-cycle phenomenon: his connection with Wicksell, Åkerman and Schumpeter Bjørn Thalberg; 15. Ragnar Frisch's conception of the business cycle Lawrence R. Klein; 16. Business cycles: real facts or fallacies? Gunnar Bårdsen, Paul G. Fisher and Ragnar Nymoen; Part VII. Macroeconomic Planning: 17. The influence of Ragnar Frisch on macroeconomic planning and policy in Norway Petter Jakob Bjerve; 18. How Frisch saw in the 1960s the contribution of economists to development planning E. Malinvaud; 19. On the need for macroeconomic planning in market economies: three examples from the European Monetary Union project A. J. Hughes Hallett; Author index; Subject index.


"Ragnar Frisch was perhaps the seminal figure in the transformation of economics into a quantitative science, equally at home in modern economic theory and in econometric methodology. A symposium to represent the breadth and depth of his interests faces a daunting task. This one meets the challenge fully, with a combination of expositions of Frisch's work and outstanding new work which show the current importance of Frisch's program." Kenneth J. Arrow, Stanford University


Jens C. Andvig, Tore Thonstad, Olav Bjerkholt, John S. Chipman, Jerry A. Hausman, Whitney K. Newey, Richard Blundell, Zvi Griliches, Jacques Mairesse, Dale W. Jorgenson, James J. Heckman, Jeffrey Smith, Jean-Jacques Laffont, Bernt P. Stigum, M. Hashem Pesaran, Yongcheol Shin, G. S. Maddala, Søren Johansen, Bjørn Thalberg, Lawrence R. Klein, Gunnar Bårdsen, Paul G. Fisher, Ragnar Nymoen, Petter Jakob Bjerve, E. Malinvaud, A. J. Hughes Hallett

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