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class="vector-toc-numb">5</span> <span>Journals</span> </div> </a> <ul id="toc-Journals-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Limitations_and_criticisms" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Limitations_and_criticisms"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Limitations and criticisms</span> </div> </a> <ul id="toc-Limitations_and_criticisms-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1 vector-toc-list-item-expanded"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header 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<h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Econometrics</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 70 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-70" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">70 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-af mw-list-item"><a href="https://af.wikipedia.org/wiki/Ekonometrie" title="Ekonometrie – Afrikaans" lang="af" hreflang="af" data-title="Ekonometrie" data-language-autonym="Afrikaans" data-language-local-name="Afrikaans" class="interlanguage-link-target"><span>Afrikaans</span></a></li><li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D9%82%D9%8A%D8%A7%D8%B3%D9%8A" title="اقتصاد قياسي – Arabic" lang="ar" hreflang="ar" data-title="اقتصاد قياسي" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-ast mw-list-item"><a href="https://ast.wikipedia.org/wiki/Econometr%C3%ADa" title="Econometría – Asturian" lang="ast" hreflang="ast" data-title="Econometría" data-language-autonym="Asturianu" data-language-local-name="Asturian" class="interlanguage-link-target"><span>Asturianu</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Ekonometrika" title="Ekonometrika – Azerbaijani" lang="az" hreflang="az" data-title="Ekonometrika" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-bn mw-list-item"><a href="https://bn.wikipedia.org/wiki/%E0%A6%85%E0%A6%B0%E0%A7%8D%E0%A6%A5%E0%A6%AE%E0%A6%BF%E0%A6%A4%E0%A6%BF" title="অর্থমিতি – Bangla" lang="bn" hreflang="bn" data-title="অর্থমিতি" data-language-autonym="বাংলা" data-language-local-name="Bangla" class="interlanguage-link-target"><span>বাংলা</span></a></li><li class="interlanguage-link interwiki-be mw-list-item"><a href="https://be.wikipedia.org/wiki/%D0%AD%D0%BA%D0%B0%D0%BD%D0%B0%D0%BC%D0%B5%D1%82%D1%80%D1%8B%D0%BA%D0%B0" title="Эканаметрыка – Belarusian" lang="be" hreflang="be" data-title="Эканаметрыка" data-language-autonym="Беларуская" data-language-local-name="Belarusian" class="interlanguage-link-target"><span>Беларуская</span></a></li><li class="interlanguage-link interwiki-be-x-old mw-list-item"><a href="https://be-tarask.wikipedia.org/wiki/%D0%AD%D0%BA%D0%B0%D0%BD%D0%B0%D0%BC%D1%8D%D1%82%D1%80%D1%8B%D0%BA%D0%B0" title="Эканамэтрыка – Belarusian (Taraškievica orthography)" lang="be-tarask" hreflang="be-tarask" data-title="Эканамэтрыка" data-language-autonym="Беларуская (тарашкевіца)" data-language-local-name="Belarusian (Taraškievica orthography)" class="interlanguage-link-target"><span>Беларуская (тарашкевіца)</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%98%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D1%8F" title="Иконометрия – Bulgarian" lang="bg" hreflang="bg" data-title="Иконометрия" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Econometria" title="Econometria – Catalan" lang="ca" hreflang="ca" data-title="Econometria" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/Ekonometrie" title="Ekonometrie – Czech" lang="cs" hreflang="cs" data-title="Ekonometrie" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-co mw-list-item"><a href="https://co.wikipedia.org/wiki/Ecunumetria" title="Ecunumetria – Corsican" lang="co" hreflang="co" data-title="Ecunumetria" data-language-autonym="Corsu" data-language-local-name="Corsican" class="interlanguage-link-target"><span>Corsu</span></a></li><li class="interlanguage-link interwiki-da mw-list-item"><a href="https://da.wikipedia.org/wiki/%C3%98konometri" title="Økonometri – Danish" lang="da" hreflang="da" data-title="Økonometri" data-language-autonym="Dansk" data-language-local-name="Danish" class="interlanguage-link-target"><span>Dansk</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/%C3%96konometrie" title="Ökonometrie – German" lang="de" hreflang="de" data-title="Ökonometrie" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/%C3%96konomeetria" title="Ökonomeetria – Estonian" lang="et" hreflang="et" data-title="Ökonomeetria" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%9F%CE%B9%CE%BA%CE%BF%CE%BD%CE%BF%CE%BC%CE%B5%CF%84%CF%81%CE%AF%CE%B1" title="Οικονομετρία – Greek" lang="el" hreflang="el" data-title="Οικονομετρία" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Econometr%C3%ADa" title="Econometría – Spanish" lang="es" hreflang="es" data-title="Econometría" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eo mw-list-item"><a href="https://eo.wikipedia.org/wiki/Ekonometrio" title="Ekonometrio – Esperanto" lang="eo" hreflang="eo" data-title="Ekonometrio" data-language-autonym="Esperanto" data-language-local-name="Esperanto" class="interlanguage-link-target"><span>Esperanto</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Ekonometria" title="Ekonometria – Basque" lang="eu" hreflang="eu" data-title="Ekonometria" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF%D8%B3%D9%86%D8%AC%DB%8C" title="اقتصادسنجی – Persian" lang="fa" hreflang="fa" data-title="اقتصادسنجی" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/%C3%89conom%C3%A9trie" title="Économétrie – French" lang="fr" hreflang="fr" data-title="Économétrie" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ga mw-list-item"><a href="https://ga.wikipedia.org/wiki/Eacnaim%C3%A9adracht" title="Eacnaiméadracht – Irish" lang="ga" hreflang="ga" data-title="Eacnaiméadracht" data-language-autonym="Gaeilge" data-language-local-name="Irish" class="interlanguage-link-target"><span>Gaeilge</span></a></li><li class="interlanguage-link interwiki-gl mw-list-item"><a href="https://gl.wikipedia.org/wiki/Econometr%C3%ADa" title="Econometría – Galician" lang="gl" hreflang="gl" data-title="Econometría" data-language-autonym="Galego" data-language-local-name="Galician" class="interlanguage-link-target"><span>Galego</span></a></li><li class="interlanguage-link interwiki-glk mw-list-item"><a href="https://glk.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%B3%D9%86%D8%AC%DB%8C" title="اقتصاد سنجی – Gilaki" lang="glk" hreflang="glk" data-title="اقتصاد سنجی" data-language-autonym="گیلکی" data-language-local-name="Gilaki" class="interlanguage-link-target"><span>گیلکی</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EA%B3%84%EB%9F%89%EA%B2%BD%EC%A0%9C%ED%95%99" title="계량경제학 – Korean" lang="ko" hreflang="ko" data-title="계량경제학" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D4%B7%D5%AF%D5%B8%D5%B6%D5%B8%D5%B4%D5%A5%D5%BF%D6%80%D5%AB%D5%AF%D5%A1" title="Էկոնոմետրիկա – Armenian" lang="hy" hreflang="hy" data-title="Էկոնոմետրիկա" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%85%E0%A4%B0%E0%A5%8D%E0%A4%A5%E0%A4%AE%E0%A4%BF%E0%A4%A4%E0%A4%BF" title="अर्थमिति – Hindi" lang="hi" hreflang="hi" data-title="अर्थमिति" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Ekonometrika" title="Ekonometrika – Indonesian" lang="id" hreflang="id" data-title="Ekonometrika" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Econometria" title="Econometria – Italian" lang="it" hreflang="it" data-title="Econometria" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%90%D7%A7%D7%95%D7%A0%D7%95%D7%9E%D7%98%D7%A8%D7%99%D7%A7%D7%94" title="אקונומטריקה – Hebrew" lang="he" hreflang="he" data-title="אקונומטריקה" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-jv mw-list-item"><a href="https://jv.wikipedia.org/wiki/%C3%89konom%C3%A8trika" title="Ékonomètrika – Javanese" lang="jv" hreflang="jv" data-title="Ékonomètrika" data-language-autonym="Jawa" data-language-local-name="Javanese" class="interlanguage-link-target"><span>Jawa</span></a></li><li class="interlanguage-link interwiki-ka mw-list-item"><a href="https://ka.wikipedia.org/wiki/%E1%83%94%E1%83%99%E1%83%9D%E1%83%9C%E1%83%9D%E1%83%9B%E1%83%94%E1%83%A2%E1%83%A0%E1%83%98%E1%83%99%E1%83%90" title="ეკონომეტრიკა – Georgian" lang="ka" hreflang="ka" data-title="ეკონომეტრიკა" data-language-autonym="ქართული" data-language-local-name="Georgian" class="interlanguage-link-target"><span>ქართული</span></a></li><li class="interlanguage-link interwiki-kk mw-list-item"><a href="https://kk.wikipedia.org/wiki/%D0%AD%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D0%BA%D0%B0" title="Эконометрика – Kazakh" lang="kk" hreflang="kk" data-title="Эконометрика" data-language-autonym="Қазақша" data-language-local-name="Kazakh" class="interlanguage-link-target"><span>Қазақша</span></a></li><li class="interlanguage-link interwiki-lo mw-list-item"><a href="https://lo.wikipedia.org/wiki/%E0%BB%80%E0%BA%AD%E0%BB%82%E0%BA%84%E0%BB%82%E0%BA%99%E0%BB%80%E0%BA%A1%E0%BA%97%E0%BA%A3%E0%BA%B4%E0%BA%81" title="ເອໂຄໂນເມທຣິກ – Lao" lang="lo" hreflang="lo" data-title="ເອໂຄໂນເມທຣິກ" data-language-autonym="ລາວ" data-language-local-name="Lao" class="interlanguage-link-target"><span>ລາວ</span></a></li><li class="interlanguage-link interwiki-lv mw-list-item"><a href="https://lv.wikipedia.org/wiki/Ekonometrija" title="Ekonometrija – Latvian" lang="lv" hreflang="lv" data-title="Ekonometrija" data-language-autonym="Latviešu" data-language-local-name="Latvian" class="interlanguage-link-target"><span>Latviešu</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Ekonometrija" title="Ekonometrija – Lithuanian" lang="lt" hreflang="lt" data-title="Ekonometrija" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-lfn mw-list-item"><a href="https://lfn.wikipedia.org/wiki/Econometria" title="Econometria – Lingua Franca Nova" lang="lfn" hreflang="lfn" data-title="Econometria" data-language-autonym="Lingua Franca Nova" data-language-local-name="Lingua Franca Nova" class="interlanguage-link-target"><span>Lingua Franca Nova</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/%C3%96konometria" title="Ökonometria – Hungarian" lang="hu" hreflang="hu" data-title="Ökonometria" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-mk mw-list-item"><a href="https://mk.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D1%98%D0%B0" title="Економетрија – Macedonian" lang="mk" hreflang="mk" data-title="Економетрија" data-language-autonym="Македонски" data-language-local-name="Macedonian" class="interlanguage-link-target"><span>Македонски</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Ekonometrik" title="Ekonometrik – Malay" lang="ms" hreflang="ms" data-title="Ekonometrik" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-mn mw-list-item"><a href="https://mn.wikipedia.org/wiki/%D0%AD%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D0%BA" title="Эконометрик – Mongolian" lang="mn" hreflang="mn" data-title="Эконометрик" data-language-autonym="Монгол" data-language-local-name="Mongolian" class="interlanguage-link-target"><span>Монгол</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Econometrie" title="Econometrie – Dutch" lang="nl" hreflang="nl" data-title="Econometrie" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E8%A8%88%E9%87%8F%E7%B5%8C%E6%B8%88%E5%AD%A6" title="計量経済学 – Japanese" lang="ja" hreflang="ja" data-title="計量経済学" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/%C3%98konometri" title="Økonometri – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Økonometri" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-nn mw-list-item"><a href="https://nn.wikipedia.org/wiki/%C3%98konometri" title="Økonometri – Norwegian Nynorsk" lang="nn" hreflang="nn" data-title="Økonometri" data-language-autonym="Norsk nynorsk" data-language-local-name="Norwegian Nynorsk" class="interlanguage-link-target"><span>Norsk nynorsk</span></a></li><li class="interlanguage-link interwiki-uz mw-list-item"><a href="https://uz.wikipedia.org/wiki/Ekonometriya" title="Ekonometriya – Uzbek" lang="uz" hreflang="uz" data-title="Ekonometriya" data-language-autonym="Oʻzbekcha / ўзбекча" data-language-local-name="Uzbek" class="interlanguage-link-target"><span>Oʻzbekcha / ўзбекча</span></a></li><li class="interlanguage-link interwiki-pa mw-list-item"><a href="https://pa.wikipedia.org/wiki/%E0%A8%85%E0%A8%B0%E0%A8%A5%E0%A8%AE%E0%A8%BF%E0%A8%A4%E0%A9%80" title="ਅਰਥਮਿਤੀ – Punjabi" lang="pa" hreflang="pa" data-title="ਅਰਥਮਿਤੀ" data-language-autonym="ਪੰਜਾਬੀ" data-language-local-name="Punjabi" class="interlanguage-link-target"><span>ਪੰਜਾਬੀ</span></a></li><li class="interlanguage-link interwiki-ps mw-list-item"><a href="https://ps.wikipedia.org/wiki/%D8%A7%D9%82%D8%AA%D8%B5%D8%A7%D8%AF_%D8%B3%D9%86%D8%AC%D9%88%D9%86%D9%87" title="اقتصاد سنجونه – Pashto" lang="ps" hreflang="ps" data-title="اقتصاد سنجونه" data-language-autonym="پښتو" data-language-local-name="Pashto" class="interlanguage-link-target"><span>پښتو</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Ekonometria" title="Ekonometria – Polish" lang="pl" hreflang="pl" data-title="Ekonometria" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Econometria" title="Econometria – Portuguese" lang="pt" hreflang="pt" data-title="Econometria" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Econometrie" title="Econometrie – Romanian" lang="ro" hreflang="ro" data-title="Econometrie" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru badge-Q17437796 badge-featuredarticle mw-list-item" title="featured article badge"><a href="https://ru.wikipedia.org/wiki/%D0%AD%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D0%BA%D0%B0" title="Эконометрика – Russian" lang="ru" hreflang="ru" data-title="Эконометрика" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Ekonometria" title="Ekonometria – Albanian" lang="sq" hreflang="sq" data-title="Ekonometria" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Econometrics" title="Econometrics – Simple English" lang="en-simple" hreflang="en-simple" data-title="Econometrics" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sk mw-list-item"><a href="https://sk.wikipedia.org/wiki/Ekonometria" title="Ekonometria – Slovak" lang="sk" hreflang="sk" data-title="Ekonometria" data-language-autonym="Slovenčina" data-language-local-name="Slovak" class="interlanguage-link-target"><span>Slovenčina</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Ekonometrija" title="Ekonometrija – Slovenian" lang="sl" hreflang="sl" data-title="Ekonometrija" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D0%B8%D1%98%D0%B0" title="Економетрија – Serbian" lang="sr" hreflang="sr" data-title="Економетрија" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Ekonometrija" title="Ekonometrija – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Ekonometrija" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-su mw-list-item"><a href="https://su.wikipedia.org/wiki/%C3%89konom%C3%A9tri" title="Ékonométri – Sundanese" lang="su" hreflang="su" data-title="Ékonométri" data-language-autonym="Sunda" data-language-local-name="Sundanese" class="interlanguage-link-target"><span>Sunda</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Ekonometria" title="Ekonometria – Finnish" lang="fi" hreflang="fi" data-title="Ekonometria" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Ekonometri" title="Ekonometri – Swedish" lang="sv" hreflang="sv" data-title="Ekonometri" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="https://tl.wikipedia.org/wiki/Ekonometrika" title="Ekonometrika – Tagalog" lang="tl" hreflang="tl" data-title="Ekonometrika" data-language-autonym="Tagalog" data-language-local-name="Tagalog" class="interlanguage-link-target"><span>Tagalog</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B9%80%E0%B8%A8%E0%B8%A3%E0%B8%A9%E0%B8%90%E0%B8%A1%E0%B8%B4%E0%B8%95%E0%B8%B4" title="เศรษฐมิติ – Thai" lang="th" hreflang="th" data-title="เศรษฐมิติ" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/Ekonometri" title="Ekonometri – Turkish" lang="tr" hreflang="tr" data-title="Ekonometri" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%95%D0%BA%D0%BE%D0%BD%D0%BE%D0%BC%D0%B5%D1%82%D1%80%D1%96%D1%8F" title="Економетрія – Ukrainian" lang="uk" hreflang="uk" data-title="Економетрія" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-ur mw-list-item"><a href="https://ur.wikipedia.org/wiki/%D9%85%D8%B9%D8%A7%D8%B4%DB%8C_%D9%BE%DB%8C%D9%85%D8%A7%D8%A6%D8%B4" title="معاشی پیمائش – Urdu" lang="ur" hreflang="ur" data-title="معاشی پیمائش" data-language-autonym="اردو" data-language-local-name="Urdu" class="interlanguage-link-target"><span>اردو</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Kinh_t%E1%BA%BF_l%C6%B0%E1%BB%A3ng" title="Kinh tế lượng – Vietnamese" lang="vi" hreflang="vi" data-title="Kinh tế lượng" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-war mw-list-item"><a href="https://war.wikipedia.org/wiki/Ekonometrika" title="Ekonometrika – Waray" lang="war" hreflang="war" data-title="Ekonometrika" data-language-autonym="Winaray" data-language-local-name="Waray" class="interlanguage-link-target"><span>Winaray</span></a></li><li class="interlanguage-link interwiki-wuu mw-list-item"><a href="https://wuu.wikipedia.org/wiki/%E8%AE%A1%E9%87%8F%E7%BB%8F%E6%B5%8E%E5%AD%A6" title="计量经济学 – Wu" lang="wuu" hreflang="wuu" data-title="计量经济学" data-language-autonym="吴语" data-language-local-name="Wu" class="interlanguage-link-target"><span>吴语</span></a></li><li class="interlanguage-link interwiki-zh-yue mw-list-item"><a href="https://zh-yue.wikipedia.org/wiki/%E7%B6%93%E6%BF%9F%E6%B8%AC%E9%87%8F%E5%AD%B8" title="經濟測量學 – Cantonese" lang="yue" hreflang="yue" data-title="經濟測量學" data-language-autonym="粵語" data-language-local-name="Cantonese" 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.sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1066933788">.mw-parser-output .excerpt-hat .mw-editsection-like{font-style:normal}</style><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1066933788"><table class="sidebar sidebar-collapse nomobile nowraplinks hlist"><tbody><tr><td class="sidebar-pretitle">Part of <a href="/wiki/Category:Economics" title="Category:Economics">a series</a> on</td></tr><tr><th class="sidebar-title-with-pretitle" style="border-top:1px #fafafa solid; border-bottom:1px #fafafa solid; background:#efefef;padding:0.2em;font-size:200%;"><a href="/wiki/Economics" title="Economics">Economics</a></th></tr><tr><td class="sidebar-image"><span typeof="mw:File"><a href="/wiki/File:Supply-demand-equilibrium.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/120px-Supply-demand-equilibrium.svg.png" decoding="async" width="120" height="120" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/180px-Supply-demand-equilibrium.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/8/8c/Supply-demand-equilibrium.svg/240px-Supply-demand-equilibrium.svg.png 2x" data-file-width="217" data-file-height="217" /></a></span></td></tr><tr><td class="sidebar-above"> <ul><li><a href="/wiki/History_of_economic_thought" title="History of economic thought">History</a></li> <li><a href="/wiki/Outline_of_economics" title="Outline of economics">Outline</a></li> <li><a href="/wiki/Index_of_economics_articles" title="Index of economics articles">Index</a></li></ul></td></tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Branches and <a href="/wiki/JEL_classification_codes" title="JEL classification codes">classifications</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Applied_economics" title="Applied economics">Applied</a></li> <li><a class="mw-selflink selflink">Econometrics</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/International_economics" title="International economics">International</a></li> <li><a href="/wiki/Microeconomics" title="Microeconomics">Micro</a> / <a href="/wiki/Macroeconomics" title="Macroeconomics">Macro</a></li> <li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Mathematical_economics" title="Mathematical economics">Mathematical</a></li> <li><a href="/wiki/Economic_methodology" title="Economic methodology">Methodology</a></li> <li><a href="/wiki/Political_economy" title="Political economy">Political</a></li> <li><a href="/wiki/JEL_classification_codes" title="JEL classification codes">JEL classification codes</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Concepts, theory and techniques</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Economic_system" title="Economic system">Economic systems</a></li> <li><a href="/wiki/Economic_growth" title="Economic growth">Economic growth</a></li> <li><a href="/wiki/Market_(economics)" title="Market (economics)">Market</a></li> <li><a href="/wiki/National_accounts" title="National accounts">National accounting</a></li> <li><a href="/wiki/Experimental_economics" title="Experimental economics">Experimental economics</a></li> <li><a href="/wiki/Computational_economics" title="Computational economics">Computational economics</a></li> <li><a href="/wiki/Game_theory" title="Game theory">Game theory</a></li> <li><a href="/wiki/Operations_research" title="Operations research">Operations research</a></li> <li><a href="/wiki/Middle_income_trap" title="Middle income trap">Middle income trap</a></li> <li><a href="/wiki/Industrial_complex" title="Industrial complex">Industrial complex</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">By application</div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Agricultural_economics" title="Agricultural economics">Agricultural</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Business_economics" title="Business economics">Business</a></li> <li><a href="/wiki/Cultural_economics" title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary economics">Expeditionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Financial_economics" title="Financial economics">Financial</a></li> <li><a href="/wiki/Economic_geography" title="Economic geography">Geographical</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Health_economics" title="Health economics">Health</a></li> <li><a href="/wiki/Economic_history" title="Economic history">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Industrial_organization" title="Industrial organization">Industrial organization</a></li> <li><a href="/wiki/Information_economics" title="Information economics">Information</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Knowledge_economy" title="Knowledge economy">Knowledge</a></li> <li><a href="/wiki/Labour_economics" title="Labour economics">Labour</a></li> <li><a href="/wiki/Law_and_economics" title="Law and economics">Law</a></li> <li><a href="/wiki/Managerial_economics" title="Managerial economics">Managerial</a></li> <li><a href="/wiki/Monetary_economics" title="Monetary economics">Monetary</a></li> <li><a href="/wiki/Natural_resource_economics" title="Natural resource economics">Natural resource</a></li> <li><a href="/wiki/Organizational_economics" title="Organizational economics">Organizational</a></li> <li><a href="/wiki/Economics_of_participation" title="Economics of participation">Participation</a></li> <li><a href="/wiki/Personnel_economics" title="Personnel economics">Personnel</a></li> <li><a href="/wiki/Economic_planning" title="Economic planning">Planning</a></li> <li><a href="/wiki/Economic_policy" title="Economic policy">Policy</a></li> <li><a href="/wiki/Public_economics" title="Public economics">Public</a></li> <li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)">Notable <a href="/wiki/Economist" title="Economist">economists</a></div><div class="sidebar-list-content mw-collapsible-content"> <div class="excerpt-block"><div class="excerpt"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a href="/wiki/Paul_Krugman" title="Paul Krugman">Krugman</a></li> <li><a href="/wiki/Thomas_Piketty" title="Thomas Piketty">Piketty</a></li> <li><i><a href="/wiki/Category:Economists" title="Category:Economists">more</a></i></li></ul></div></div> </div></div></td> </tr><tr><td class="sidebar-content"> <div class="sidebar-list mw-collapsible mw-collapsed"><div class="sidebar-list-title" style="background:#efefef;;color: var(--color-base)"><a href="/wiki/Category:Economics_lists" title="Category:Economics lists">Lists</a></div><div class="sidebar-list-content mw-collapsible-content"> <ul><li><a href="/wiki/Glossary_of_economics" title="Glossary of economics">Glossary</a></li> <li><a href="/wiki/List_of_economists" title="List of economists">Economists</a></li> <li><a href="/wiki/List_of_important_publications_in_economics" title="List of important publications in economics">Publications</a> (<a href="/wiki/List_of_economics_journals" title="List of economics journals">journals</a>)</li> <li><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a></li></ul> </div></div></td> </tr><tr><td class="sidebar-below"> <ul><li><span class="nowrap"><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Emblem-money.svg" class="mw-file-description"><img alt="icon" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/16px-Emblem-money.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/24px-Emblem-money.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/f3/Emblem-money.svg/32px-Emblem-money.svg.png 2x" data-file-width="48" data-file-height="48" /></a></span> </span><a href="/wiki/Portal:Business" title="Portal:Business">Business portal</a></li> <li><span class="nowrap"><span class="noviewer" typeof="mw:File"><span><img alt="icon" 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ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economics_sidebar" title="Template:Economics sidebar"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economics_sidebar" title="Template talk:Economics sidebar"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economics_sidebar" title="Special:EditPage/Template:Economics sidebar"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p><b>Econometrics</b> is an application of <a href="/wiki/Statistics" title="Statistics">statistical methods</a> to economic data in order to give <a href="/wiki/Empirical_evidence" title="Empirical evidence">empirical</a> content to economic relationships.<sup id="cite_ref-Pesaran_1-0" class="reference"><a href="#cite_note-Pesaran-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> More precisely, it is "the quantitative analysis of actual economic <a href="/wiki/Phenomenon" title="Phenomenon">phenomena</a> based on the concurrent development of theory and observation, related by appropriate methods of inference."<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> An introductory economics textbook describes econometrics as allowing economists "to sift through mountains of data to extract simple relationships."<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup> <a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Jan Tinbergen</a> is one of the two founding fathers of econometrics.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> The other, <a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Ragnar Frisch</a>, also coined the term in the sense in which it is used today.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>A basic tool for econometrics is the <a href="/wiki/Multiple_linear_regression" class="mw-redirect" title="Multiple linear regression">multiple linear regression</a> model.<sup id="cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-0" class="reference"><a href="#cite_note-Greene_Econometrics_–_multiple_linear_regression_model-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> <i>Econometric theory</i> uses <a href="/wiki/Statistical_theory" title="Statistical theory">statistical theory</a> and <a href="/wiki/Mathematical_statistics" title="Mathematical statistics">mathematical statistics</a> to evaluate and develop econometric methods.<sup id="cite_ref-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory_9-0" class="reference"><a href="#cite_note-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Wooldridge_Econometrics_–_mathematical_statistics_10-0" class="reference"><a href="#cite_note-Wooldridge_Econometrics_–_mathematical_statistics-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Econometricians try to find <a href="/wiki/Estimator" title="Estimator">estimators</a> that have desirable statistical properties including <a href="/wiki/Bias_of_an_estimator" title="Bias of an estimator">unbiasedness</a>, <a href="/wiki/Efficiency_(statistics)" title="Efficiency (statistics)">efficiency</a>, and <a href="/wiki/Consistent_estimator" title="Consistent estimator">consistency</a>. <i>Applied econometrics</i> uses theoretical econometrics and real-world <a href="/wiki/Economic_data" title="Economic data">data</a> for assessing economic theories, developing <a href="/wiki/Econometric_model" title="Econometric model">econometric models</a>, analysing <a href="/wiki/Economic_history" title="Economic history">economic history</a>, and <a href="/wiki/Economic_forecasting" title="Economic forecasting">forecasting</a>. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Basic_models:_linear_regression">Basic models: linear regression</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=1" title="Edit section: Basic models: linear regression"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A basic tool for econometrics is the <a href="/wiki/Multiple_linear_regression" class="mw-redirect" title="Multiple linear regression">multiple linear regression</a> model.<sup id="cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-1" class="reference"><a href="#cite_note-Greene_Econometrics_–_multiple_linear_regression_model-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> In modern econometrics, other statistical tools are frequently used, but linear regression is still the most frequently used starting point for an analysis.<sup id="cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-2" class="reference"><a href="#cite_note-Greene_Econometrics_–_multiple_linear_regression_model-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> Estimating a linear regression on two variables can be visualised as fitting a line through data points representing paired values of the independent and dependent variables. </p> <figure class="mw-default-size mw-halign-right" typeof="mw:File/Thumb"><a href="/wiki/File:Okuns_law_differences_1948_to_mid_2011.png" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/db/Okuns_law_differences_1948_to_mid_2011.png/220px-Okuns_law_differences_1948_to_mid_2011.png" decoding="async" width="220" height="160" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/db/Okuns_law_differences_1948_to_mid_2011.png/330px-Okuns_law_differences_1948_to_mid_2011.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/db/Okuns_law_differences_1948_to_mid_2011.png/440px-Okuns_law_differences_1948_to_mid_2011.png 2x" data-file-width="1103" data-file-height="801" /></a><figcaption>Okun's law representing the relationship between GDP growth and the unemployment rate. The fitted line is found using regression analysis.</figcaption></figure> <p>For example, consider <a href="/wiki/Okun%27s_law" title="Okun's law">Okun's law</a>, which relates <a href="/wiki/Gross_domestic_product" title="Gross domestic product">GDP</a> growth to the unemployment rate. This relationship is represented in a linear regression where the change in unemployment rate (<span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \Delta \ {\text{Unemployment}}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi mathvariant="normal">Δ</mi> <mtext> </mtext> <mrow class="MJX-TeXAtom-ORD"> <mtext>Unemployment</mtext> </mrow> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \Delta \ {\text{Unemployment}}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/04066efc5c8905398dcb9958de6757aaceb17057" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:18.015ex; height:2.509ex;" alt="{\displaystyle \Delta \ {\text{Unemployment}}}"></span>) is a function of an intercept (<span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{0}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{0}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/40b42f71f244103a8fca3c76885c7580a92831c8" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{0}}"></span>), a given value of GDP growth multiplied by a slope coefficient <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> and an error term, <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \varepsilon }"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ε</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \varepsilon }</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a30c89172e5b88edbd45d3e2772c7f5e562e5173" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.083ex; height:1.676ex;" alt="{\displaystyle \varepsilon }"></span>: </p> <dl><dd><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \Delta \ {\text{Unemployment}}=\beta _{0}+\beta _{1}{\text{Growth}}+\varepsilon .}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi mathvariant="normal">Δ</mi> <mtext> </mtext> <mrow class="MJX-TeXAtom-ORD"> <mtext>Unemployment</mtext> </mrow> <mo>=</mo> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> <mo>+</mo> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> <mrow class="MJX-TeXAtom-ORD"> <mtext>Growth</mtext> </mrow> <mo>+</mo> <mi>ε</mi> <mo>.</mo> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \Delta \ {\text{Unemployment}}=\beta _{0}+\beta _{1}{\text{Growth}}+\varepsilon .}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/c2e13b10eb2dd0815a983558b0923be488edd295" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:41.038ex; height:2.509ex;" alt="{\displaystyle \Delta \ {\text{Unemployment}}=\beta _{0}+\beta _{1}{\text{Growth}}+\varepsilon .}"></span></dd></dl> <p>The unknown parameters <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{0}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{0}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/40b42f71f244103a8fca3c76885c7580a92831c8" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{0}}"></span> and <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> can be estimated. Here <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{0}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{0}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/40b42f71f244103a8fca3c76885c7580a92831c8" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{0}}"></span> is estimated to be 0.83 and <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> is estimated to be -1.77. This means that if GDP growth increased by one percentage point, the unemployment rate would be predicted to drop by 1.77 * 1 points, <a href="/wiki/Ceteris_paribus" title="Ceteris paribus">other things held constant</a>. The model could then be tested for <a href="/wiki/Statistical_significance" title="Statistical significance">statistical significance</a> as to whether an increase in GDP growth is associated with a decrease in the unemployment, as <a href="/wiki/Statistical_hypothesis_testing" class="mw-redirect" title="Statistical hypothesis testing">hypothesized</a>. If the estimate of <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> were not significantly different from 0, the test would fail to find evidence that changes in the growth rate and unemployment rate were related. The variance in a prediction of the dependent variable (unemployment) as a function of the independent variable (GDP growth) is given in <a href="/wiki/Polynomial_least_squares" class="mw-redirect" title="Polynomial least squares">polynomial least squares</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Theory">Theory</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=2" title="Edit section: Theory"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Estimation_theory" title="Estimation theory">Estimation theory</a></div> <p>Econometric theory uses <a href="/wiki/Statistical_theory" title="Statistical theory">statistical theory</a> and <a href="/wiki/Mathematical_statistics" title="Mathematical statistics">mathematical statistics</a> to evaluate and develop econometric methods.<sup id="cite_ref-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory_9-1" class="reference"><a href="#cite_note-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-Wooldridge_Econometrics_–_mathematical_statistics_10-1" class="reference"><a href="#cite_note-Wooldridge_Econometrics_–_mathematical_statistics-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> Econometricians try to find <a href="/wiki/Estimator" title="Estimator">estimators</a> that have desirable statistical properties including <a href="/wiki/Bias_of_an_estimator" title="Bias of an estimator">unbiasedness</a>, <a href="/wiki/Efficiency_(statistics)" title="Efficiency (statistics)">efficiency</a>, and <a href="/wiki/Consistent_estimator" title="Consistent estimator">consistency</a>. An estimator is unbiased if its expected value is the true value of the parameter; it is consistent if it converges to the true value as the sample size gets larger, and it is efficient if the estimator has lower standard error than other unbiased estimators for a given sample size. <a href="/wiki/Ordinary_least_squares" title="Ordinary least squares">Ordinary least squares</a> (OLS) is often used for estimation since it provides the BLUE or "best linear unbiased estimator" (where "best" means most efficient, unbiased estimator) given the <a href="/wiki/Gauss%E2%80%93Markov_theorem" title="Gauss–Markov theorem">Gauss-Markov</a> assumptions. When these assumptions are violated or other statistical properties are desired, other estimation techniques such as <a href="/wiki/Maximum_likelihood_estimation" title="Maximum likelihood estimation">maximum likelihood estimation</a>, <a href="/wiki/Generalized_method_of_moments" title="Generalized method of moments">generalized method of moments</a>, or <a href="/wiki/Generalized_least_squares" title="Generalized least squares">generalized least squares</a> are used. <a href="/wiki/Bayes_estimator" title="Bayes estimator">Estimators that incorporate prior beliefs</a> are advocated by those who favour <a href="/wiki/Bayesian_statistics" title="Bayesian statistics">Bayesian statistics</a> over traditional, classical or <a href="/wiki/Frequentist_probability" title="Frequentist probability">"frequentist" approaches</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Methods">Methods</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=3" title="Edit section: Methods"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Methodology_of_econometrics" title="Methodology of econometrics">Methodology of econometrics</a></div> <p><i>Applied econometrics</i> uses theoretical econometrics and real-world <a href="/wiki/Economic_data" title="Economic data">data</a> for assessing economic theories, developing <a href="/wiki/Econometric_model" title="Econometric model">econometric models</a>, analysing <a href="/wiki/Economic_history" title="Economic history">economic history</a>, and <a href="/wiki/Economic_forecasting" title="Economic forecasting">forecasting</a>.<sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> </p><p>Econometrics uses standard <a href="/wiki/Statistical_model" title="Statistical model">statistical models</a> to study economic questions, but most often these are based on <a href="/wiki/Observational_study" title="Observational study">observational</a> data, rather than data from <a href="/wiki/Experiment" title="Experiment">controlled experiments</a>.<sup id="cite_ref-Introductory_econometrics_12-0" class="reference"><a href="#cite_note-Introductory_econometrics-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> In this, the design of observational studies in econometrics is similar to the design of studies in other observational disciplines, such as astronomy, epidemiology, sociology and political science. Analysis of data from an observational study is guided by the study protocol, although <a href="/wiki/Exploratory_data_analysis" title="Exploratory data analysis">exploratory data analysis</a> may be useful for generating new hypotheses.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> Economics often analyses systems of equations and inequalities, such as <a href="/wiki/Supply_and_demand" title="Supply and demand">supply and demand</a> hypothesized to be in <a href="/wiki/Economic_equilibrium" title="Economic equilibrium">equilibrium</a>. Consequently, the field of econometrics has developed methods for <a href="/wiki/Parameter_identification_problem" title="Parameter identification problem">identification</a> and <a href="/wiki/Estimation_theory" title="Estimation theory">estimation</a> of <a href="/wiki/Simultaneous_equations_model" title="Simultaneous equations model">simultaneous equations models</a>. These methods are analogous to methods used in other areas of science, such as the field of <a href="/wiki/System_identification" title="System identification">system identification</a> in <a href="/wiki/Systems_analysis" title="Systems analysis">systems analysis</a> and <a href="/wiki/Control_theory" title="Control theory">control theory</a>. Such methods may allow researchers to estimate models and investigate their empirical consequences, without directly manipulating the system. </p><p>In the absence of evidence from controlled experiments, econometricians often seek illuminating <a href="/wiki/Natural_experiment" title="Natural experiment">natural experiments</a> or apply <a href="/wiki/Quasi-experiment" title="Quasi-experiment">quasi-experimental methods</a> to draw credible causal inference.<sup id="cite_ref-14" class="reference"><a href="#cite_note-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> The methods include <a href="/wiki/Regression_discontinuity_design" title="Regression discontinuity design">regression discontinuity design</a>, <a href="/wiki/Instrumental_variables_estimation" title="Instrumental variables estimation">instrumental variables</a>, and <a href="/wiki/Difference_in_differences" title="Difference in differences">difference-in-differences</a>. </p> <div class="mw-heading mw-heading2"><h2 id="Example">Example</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=4" title="Edit section: Example"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A simple example of a relationship in econometrics from the field of <a href="/wiki/Labour_economics" title="Labour economics">labour economics</a> is: </p> <dl><dd><span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \ln({\text{wage}})=\beta _{0}+\beta _{1}({\text{years of education}})+\varepsilon .}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ln</mi> <mo>⁡</mo> <mo stretchy="false">(</mo> <mrow class="MJX-TeXAtom-ORD"> <mtext>wage</mtext> </mrow> <mo stretchy="false">)</mo> <mo>=</mo> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> <mo>+</mo> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> <mo stretchy="false">(</mo> <mrow class="MJX-TeXAtom-ORD"> <mtext>years of education</mtext> </mrow> <mo stretchy="false">)</mo> <mo>+</mo> <mi>ε</mi> <mo>.</mo> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \ln({\text{wage}})=\beta _{0}+\beta _{1}({\text{years of education}})+\varepsilon .}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/d4fda2231ce634196f519df1f1f7c0ff3bab1b39" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.838ex; width:43.947ex; height:2.843ex;" alt="{\displaystyle \ln({\text{wage}})=\beta _{0}+\beta _{1}({\text{years of education}})+\varepsilon .}"></span></dd></dl> <p>This example assumes that the <a href="/wiki/Natural_logarithm" title="Natural logarithm">natural logarithm</a> of a person's wage is a linear function of the number of years of education that person has acquired. The parameter <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> measures the increase in the natural log of the wage attributable to one more year of education. The term <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \varepsilon }"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ε</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \varepsilon }</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a30c89172e5b88edbd45d3e2772c7f5e562e5173" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.083ex; height:1.676ex;" alt="{\displaystyle \varepsilon }"></span> is a random variable representing all other factors that may have direct influence on wage. The econometric goal is to estimate the parameters, <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{0}{\mbox{ and }}\beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>0</mn> </mrow> </msub> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="false" scriptlevel="0"> <mtext> and </mtext> </mstyle> </mrow> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{0}{\mbox{ and }}\beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/fae5a5d5ff16c0c6a6d6eb4a097df781c88d4641" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:9.649ex; height:2.509ex;" alt="{\displaystyle \beta _{0}{\mbox{ and }}\beta _{1}}"></span> under specific assumptions about the random variable <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \varepsilon }"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ε</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \varepsilon }</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a30c89172e5b88edbd45d3e2772c7f5e562e5173" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.083ex; height:1.676ex;" alt="{\displaystyle \varepsilon }"></span>. For example, if <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \varepsilon }"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ε</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \varepsilon }</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/a30c89172e5b88edbd45d3e2772c7f5e562e5173" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:1.083ex; height:1.676ex;" alt="{\displaystyle \varepsilon }"></span> is uncorrelated with years of education, then the equation can be estimated with <a href="/wiki/Linear_regression" title="Linear regression">ordinary least squares</a>. </p><p>If the researcher could randomly assign people to different levels of education, the data set thus generated would allow estimation of the effect of changes in years of education on wages. In reality, those experiments cannot be conducted. Instead, the econometrician observes the years of education of and the wages paid to people who differ along many dimensions. Given this kind of data, the estimated coefficient on years of education in the equation above reflects both the effect of education on wages and the effect of other variables on wages, if those other variables were correlated with education. For example, people born in certain places may have higher wages and higher levels of education. Unless the econometrician controls for place of birth in the above equation, the effect of birthplace on wages may be falsely attributed to the effect of education on wages. </p><p>The most obvious way to control for birthplace is to include a measure of the effect of birthplace in the equation above. Exclusion of birthplace, together with the assumption that <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \epsilon }"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <mi>ϵ</mi> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \epsilon }</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/c3837cad72483d97bcdde49c85d3b7b859fb3fd2" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.338ex; width:0.944ex; height:1.676ex;" alt="{\displaystyle \epsilon }"></span> is uncorrelated with education produces a misspecified model. Another technique is to include in the equation additional set of measured covariates which are not instrumental variables, yet render <span class="mwe-math-element"><span class="mwe-math-mathml-inline mwe-math-mathml-a11y" style="display: none;"><math xmlns="http://www.w3.org/1998/Math/MathML" alttext="{\displaystyle \beta _{1}}"> <semantics> <mrow class="MJX-TeXAtom-ORD"> <mstyle displaystyle="true" scriptlevel="0"> <msub> <mi>β</mi> <mrow class="MJX-TeXAtom-ORD"> <mn>1</mn> </mrow> </msub> </mstyle> </mrow> <annotation encoding="application/x-tex">{\displaystyle \beta _{1}}</annotation> </semantics> </math></span><img src="https://wikimedia.org/api/rest_v1/media/math/render/svg/eeeccd8b585b819e38f9c1fe5e9816a3ea01804c" class="mwe-math-fallback-image-inline mw-invert skin-invert" aria-hidden="true" style="vertical-align: -0.671ex; width:2.37ex; height:2.509ex;" alt="{\displaystyle \beta _{1}}"></span> identifiable.<sup id="cite_ref-pearl00_15-0" class="reference"><a href="#cite_note-pearl00-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> An overview of econometric methods used to study this problem were provided by <a href="/wiki/David_Card" title="David Card">Card</a> (1999).<sup id="cite_ref-Card:00_16-0" class="reference"><a href="#cite_note-Card:00-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Journals">Journals</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=5" title="Edit section: Journals"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The main journals that publish work in econometrics are: </p> <ul><li><i><a href="/wiki/Econometrica" title="Econometrica">Econometrica</a></i>, which is published by <a href="/wiki/Econometric_Society" title="Econometric Society">Econometric Society</a>.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup></li> <li><i><a href="/wiki/The_Review_of_Economics_and_Statistics" title="The Review of Economics and Statistics">The Review of Economics and Statistics</a></i>, which is over 100 years old.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup></li> <li><i><a href="/wiki/The_Econometrics_Journal" title="The Econometrics Journal">The Econometrics Journal</a></i>, which was established by the <a href="/wiki/Royal_Economic_Society" title="Royal Economic Society">Royal Economic Society</a>.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup></li> <li>The <i><a href="/wiki/Journal_of_Econometrics" title="Journal of Econometrics">Journal of Econometrics</a></i>, which also publishes the supplement <i>Annals of Econometrics.</i><sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup></li> <li><i><a href="/wiki/Econometric_Theory" title="Econometric Theory">Econometric Theory</a></i>, which is a theoretical journal.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup></li> <li>The <i><a href="/wiki/Journal_of_Applied_Econometrics" title="Journal of Applied Econometrics">Journal of Applied Econometrics</a></i>, which applies econometrics to a wide various problems.<sup id="cite_ref-22" class="reference"><a href="#cite_note-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup></li> <li><i><a href="/wiki/Econometric_Reviews" title="Econometric Reviews">Econometric Reviews</a></i>, which includes reviews on econometric books and software as well.<sup id="cite_ref-23" class="reference"><a href="#cite_note-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup></li> <li>The <i><a href="/wiki/Journal_of_Business_%26_Economic_Statistics" title="Journal of Business & Economic Statistics">Journal of Business & Economic Statistics</a>,</i> which is published by the <a href="/wiki/American_Statistical_Association" title="American Statistical Association">American Statistical Association</a>.<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="Limitations_and_criticisms">Limitations and criticisms</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=6" title="Edit section: Limitations and criticisms"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Criticisms_of_econometrics" title="Criticisms of econometrics">Criticisms of econometrics</a></div> <p>Like other forms of statistical analysis, badly specified econometric models may show a <a href="/wiki/Spurious_relationship" title="Spurious relationship">spurious relationship</a> where two variables are correlated but causally unrelated. In a study of the use of econometrics in major economics journals, <a href="/wiki/Deidre_McCloskey" class="mw-redirect" title="Deidre McCloskey">McCloskey</a> concluded that some economists report <a href="/wiki/P-value" title="P-value"><i>p</i>-values</a> (following the <a href="/wiki/Ronald_Fisher" title="Ronald Fisher">Fisherian</a> tradition of <a href="/wiki/Tests_of_significance" class="mw-redirect" title="Tests of significance">tests of significance</a> of point <a href="/wiki/Null_hypothesis" title="Null hypothesis">null-hypotheses</a>) and neglect concerns of <a href="/wiki/Type_II_error" class="mw-redirect" title="Type II error">type II errors</a>; some economists fail to report estimates of the size of effects (apart from <a href="/wiki/Statistical_significance" title="Statistical significance">statistical significance</a>) and to discuss their economic importance. She also argues that some economists also fail to use economic reasoning for <a href="/wiki/Model_selection" title="Model selection">model selection</a>, especially for deciding which variables to include in a regression.<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> </p><p>In some cases, economic variables cannot be experimentally manipulated as treatments randomly assigned to subjects.<sup id="cite_ref-Leamer_31–43_27-0" class="reference"><a href="#cite_note-Leamer_31–43-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> In such cases, economists rely on <a href="/wiki/Observational_studies" class="mw-redirect" title="Observational studies">observational studies</a>, often using data sets with many strongly associated <a href="/wiki/Covariate" class="mw-redirect" title="Covariate">covariates</a>, resulting in enormous numbers of models with similar explanatory ability but different covariates and regression estimates. Regarding the plurality of models compatible with observational data-sets, <a href="/wiki/Edward_Leamer" class="mw-redirect" title="Edward Leamer">Edward Leamer</a> urged that "professionals ... properly withhold belief until an inference can be shown to be adequately insensitive to the choice of assumptions".<sup id="cite_ref-Leamer_31–43_27-1" class="reference"><a href="#cite_note-Leamer_31–43-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=7" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/30px-Commons-logo.svg.png" decoding="async" width="30" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/45px-Commons-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/4/4a/Commons-logo.svg/59px-Commons-logo.svg.png 2x" data-file-width="1024" data-file-height="1376" /></span></span></div> <div class="side-box-text plainlist">Wikimedia Commons has media related to <span style="font-weight: bold; font-style: italic;"><a href="https://commons.wikimedia.org/wiki/Category:Econometrics" class="extiw" title="commons:Category:Econometrics">Econometrics</a></span>.</div></div> </div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 20em;"> <ul><li><a href="/wiki/Choice_modelling" title="Choice modelling">Choice modelling</a></li> <li><a href="/wiki/Cowles_Foundation" title="Cowles Foundation">Cowles Foundation</a></li> <li><a href="/wiki/Econometric_software" class="mw-redirect" title="Econometric software">Econometric software</a></li> <li><a href="/wiki/Financial_econometrics" title="Financial econometrics">Financial econometrics</a></li> <li><a href="/wiki/Financial_modeling" title="Financial modeling">Financial modeling</a></li> <li><a href="/wiki/List_of_publications_in_economics#Econometrics" class="mw-redirect" title="List of publications in economics">Important publications in econometrics</a></li> <li><a href="/wiki/Single-equation_methods_(econometrics)" title="Single-equation methods (econometrics)">Single-equation methods (econometrics)</a></li></ul> </div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=8" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="https://en.wikibooks.org/wiki/Econometric_Theory" class="extiw" title="b:Econometric Theory">Econometric Theory book on Wikibooks</a></li> <li>Giovannini, Enrico <a rel="nofollow" class="external text" href="http://www.oecd.org/sdd/41746710.pdf"><i>Understanding Economic Statistics</i></a>, OECD Publishing, 2008, <style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-92-64-03312-2" title="Special:BookSources/978-92-64-03312-2">978-92-64-03312-2</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=9" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-Pesaran-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-Pesaran_1-0">^</a></b></span> <span class="reference-text"><a href="/wiki/M._Hashem_Pesaran" title="M. Hashem Pesaran">M. Hashem Pesaran</a> (1987). "Econometrics", <i><a href="/wiki/The_New_Palgrave:_A_Dictionary_of_Economics" class="mw-redirect" title="The New Palgrave: A Dictionary of Economics">The New Palgrave: A Dictionary of Economics</a></i>, v. 2, p. 8 [pp. 8–22]. Reprinted in J. Eatwell <i>et al.</i>, eds. (1990). <i>Econometrics: The New Palgrave</i>, <a rel="nofollow" class="external text" href="https://books.google.com/books?id=gBsgr7BPJsoC&dq=econometrics&pg=PA1=false">p. 1</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230315074724/https://books.google.com/books?id=gBsgr7BPJsoC&dq=econometrics&pg=PA1=false">Archived</a> 15 March 2023 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> [pp. 1–34]. <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_E000007&edition=current&q=Econometrics&topicid=&result_number=2">Abstract</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120518001558/http://www.dictionaryofeconomics.com/article?id=pde2008_E000007&edition=current&q=Econometrics&topicid=&result_number=2">Archived</a> 18 May 2012 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> (<a href="/wiki/The_New_Palgrave_Dictionary_of_Economics" title="The New Palgrave Dictionary of Economics">2008</a> revision by J. Geweke, J. Horowitz, and H. P. Pesaran).</span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text"><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">P. A. Samuelson</a>, <a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">T. C. Koopmans</a>, and <a href="/wiki/Richard_Stone" title="Richard Stone">J. R. N. Stone</a> (1954). "Report of the Evaluative Committee for <i>Econometrica</i>", <i>Econometrica</i> 22(2), p. 142. [p <a rel="nofollow" class="external text" href="https://www.jstor.org/pss/1907538">p. 141</a>-146], as described and cited in Pesaran (1987) above.</span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text">Paul A. Samuelson and <a href="/wiki/William_D._Nordhaus" class="mw-redirect" title="William D. Nordhaus">William D. Nordhaus</a>, 2004. <i><a href="/wiki/Economics_(textbook)" title="Economics (textbook)">Economics</a></i>. 18th ed., McGraw-Hill, p. 5.</span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.elsevierweekblad.nl/Economie/achtergrond/2015/10/1969---Jan-Tinbergen-Nobelprijs-economie-2700626W/?masterpageid=5573">"1969 - Jan Tinbergen: Nobelprijs economie - Elsevierweekblad.nl"</a>. <i>elsevierweekblad.nl</i>. 12 October 2015. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180501212351/https://www.elsevierweekblad.nl/Economie/achtergrond/2015/10/1969---Jan-Tinbergen-Nobelprijs-economie-2700626W/?masterpageid=5573">Archived</a> from the original on 1 May 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">1 May</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=elsevierweekblad.nl&rft.atitle=1969+-+Jan+Tinbergen%3A+Nobelprijs+economie+-+Elsevierweekblad.nl&rft.date=2015-10-12&rft_id=http%3A%2F%2Fwww.elsevierweekblad.nl%2FEconomie%2Fachtergrond%2F2015%2F10%2F1969---Jan-Tinbergen-Nobelprijs-economie-2700626W%2F%3Fmasterpageid%3D5573&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text">Magnus, Jan & Mary S. Morgan (1987) <i>The ET Interview: Professor J. Tinbergen</i> in: 'Econometric Theory 3, 1987, 117–142.</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text">Willlekens, Frans (2008) <i>International Migration in Europe: Data, Models and Estimates.</i> New Jersey. John Wiley & Sons: 117.</span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">• H. P. Pesaran (1990), "Econometrics", <i>Econometrics: The New Palgrave</i>, <a rel="nofollow" class="external text" href="https://books.google.com/books?id=gBsgr7BPJsoC&dq=econometrics&pg=PA2=false">p. 2</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230315074724/https://books.google.com/books?id=gBsgr7BPJsoC&dq=econometrics&pg=PA2=false">Archived</a> 15 March 2023 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, citing Ragnar Frisch (1936), "A Note on the Term 'Econometrics'", <i>Econometrica</i>, 4(1), p. 95.<br />    •  Aris Spanos (2008), "statistics and economics", <i><a href="/wiki/The_New_Palgrave_Dictionary_of_Economics" title="The New Palgrave Dictionary of Economics">The New Palgrave Dictionary of Economics</a></i>, 2nd Edition. <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_S000502&edition=current&q=statistics&topicid=&result_number=1">Abstract.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120518001702/http://www.dictionaryofeconomics.com/article?id=pde2008_S000502&edition=current&q=statistics&topicid=&result_number=1">Archived</a> 18 May 2012 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-Greene_Econometrics_–_multiple_linear_regression_model-8"><span class="mw-cite-backlink">^ <a href="#cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-Greene_Econometrics_–_multiple_linear_regression_model_8-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGreene,_William2012" class="citation book cs1">Greene, William (2012). "Chapter 1: Econometrics". <i>Econometric Analysis</i> (7th ed.). Pearson Education. pp. 47–48. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780273753568" title="Special:BookSources/9780273753568"><bdi>9780273753568</bdi></a>. <q>Ultimately, all of these will require a common set of tools, including, for example, the multiple regression model, the use of moment conditions for estimation, instrumental variables (IV) and maximum likelihood estimation. With that in mind, the organization of this book is as follows: The first half of the text develops fundamental results that are common to all the applications. The concept of multiple regression and the linear regression model in particular constitutes the underlying platform of most modeling, even if the linear model itself is not ultimately used as the empirical specification.</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+1%3A+Econometrics&rft.btitle=Econometric+Analysis&rft.pages=47-48&rft.edition=7th&rft.pub=Pearson+Education&rft.date=2012&rft.isbn=9780273753568&rft.au=Greene%2C+William&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory-9"><span class="mw-cite-backlink">^ <a href="#cite_ref-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory_9-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Greene_Econometrics_–_mathematical_statistics_and_statistical_theory_9-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFGreene,_William2012" class="citation book cs1">Greene, William (2012). <i>Econometric Analysis</i> (7th ed.). Pearson Education. pp. 34, 41–42. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780273753568" title="Special:BookSources/9780273753568"><bdi>9780273753568</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Econometric+Analysis&rft.pages=34%2C+41-42&rft.edition=7th&rft.pub=Pearson+Education&rft.date=2012&rft.isbn=9780273753568&rft.au=Greene%2C+William&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-Wooldridge_Econometrics_–_mathematical_statistics-10"><span class="mw-cite-backlink">^ <a href="#cite_ref-Wooldridge_Econometrics_–_mathematical_statistics_10-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Wooldridge_Econometrics_–_mathematical_statistics_10-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWooldridge,_Jeffrey2012" class="citation book cs1">Wooldridge, Jeffrey (2012). "Chapter 1: The Nature of Econometrics and Economic Data". <i>Introductory Econometrics: A Modern Approach</i> (5th ed.). South-Western Cengage Learning. p. 2. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781111531041" title="Special:BookSources/9781111531041"><bdi>9781111531041</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Chapter+1%3A+The+Nature+of+Econometrics+and+Economic+Data&rft.btitle=Introductory+Econometrics%3A+A+Modern+Approach&rft.pages=2&rft.edition=5th&rft.pub=South-Western+Cengage+Learning&rft.date=2012&rft.isbn=9781111531041&rft.au=Wooldridge%2C+Jeffrey&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><a href="/wiki/Clive_Granger" title="Clive Granger">Clive Granger</a> (2008). "forecasting", <i>The New Palgrave Dictionary of Economics</i>, 2nd Edition. <a rel="nofollow" class="external text" href="http://www.dictionaryofeconomics.com/article?id=pde2008_F000161&edition=current&q=forecast&topicid=&result_number=7">Abstract.</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120518001935/http://www.dictionaryofeconomics.com/article?id=pde2008_F000161&edition=current&q=forecast&topicid=&result_number=7">Archived</a> 18 May 2012 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a></span> </li> <li id="cite_note-Introductory_econometrics-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-Introductory_econometrics_12-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWooldridge2013" class="citation book cs1">Wooldridge, Jeffrey (2013). <i>Introductory Econometrics, A modern approach</i>. South-Western, Cengage learning. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-111-53104-1" title="Special:BookSources/978-1-111-53104-1"><bdi>978-1-111-53104-1</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Introductory+Econometrics%2C+A+modern+approach&rft.pub=South-Western%2C+Cengage+learning&rft.date=2013&rft.isbn=978-1-111-53104-1&rft.aulast=Wooldridge&rft.aufirst=Jeffrey&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><a href="/wiki/Herman_Wold" title="Herman Wold">Herman O. Wold</a> (1969). "Econometrics as Pioneering in Nonexperimental Model Building", <i>Econometrica</i>, 37(3), pp. <a rel="nofollow" class="external text" href="https://www.jstor.org/pss/1912787">369</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170824221048/http://www.dictionaryofeconomics.com/article?id=pde2008_E000186&q=Experimental">Archived</a> 24 August 2017 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>-381.</span> </li> <li id="cite_note-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-14">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAngristPischke2010" class="citation journal cs1"><a href="/wiki/Joshua_Angrist" title="Joshua Angrist">Angrist, Joshua D.</a>; Pischke, Jörn-Steffen (May 2010). <a rel="nofollow" class="external text" href="https://doi.org/10.1257%2Fjep.24.2.3">"The Credibility Revolution in Empirical Economics: How Better Research Design is Taking the Con out of Econometrics"</a>. <i>Journal of Economic Perspectives</i>. <b>24</b> (2): 3–30. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://doi.org/10.1257%2Fjep.24.2.3">10.1257/jep.24.2.3</a></span>. <a href="/wiki/Hdl_(identifier)" class="mw-redirect" title="Hdl (identifier)">hdl</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://hdl.handle.net/1721.1%2F54195">1721.1/54195</a></span>. <a href="/wiki/ISSN_(identifier)" class="mw-redirect" title="ISSN (identifier)">ISSN</a> <a rel="nofollow" class="external text" href="https://search.worldcat.org/issn/0895-3309">0895-3309</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Economic+Perspectives&rft.atitle=The+Credibility+Revolution+in+Empirical+Economics%3A+How+Better+Research+Design+is+Taking+the+Con+out+of+Econometrics&rft.volume=24&rft.issue=2&rft.pages=3-30&rft.date=2010-05&rft_id=info%3Ahdl%2F1721.1%2F54195&rft.issn=0895-3309&rft_id=info%3Adoi%2F10.1257%2Fjep.24.2.3&rft.aulast=Angrist&rft.aufirst=Joshua+D.&rft.au=Pischke%2C+J%C3%B6rn-Steffen&rft_id=https%3A%2F%2Fdoi.org%2F10.1257%252Fjep.24.2.3&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-pearl00-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-pearl00_15-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPearl2000" class="citation book cs1">Pearl, Judea (2000). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/causalitymodelsr0000pear"><i>Causality: Model, Reasoning, and Inference</i></a></span>. Cambridge University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0521773621" title="Special:BookSources/978-0521773621"><bdi>978-0521773621</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Causality%3A+Model%2C+Reasoning%2C+and+Inference&rft.pub=Cambridge+University+Press&rft.date=2000&rft.isbn=978-0521773621&rft.aulast=Pearl&rft.aufirst=Judea&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fcausalitymodelsr0000pear&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-Card:00-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-Card:00_16-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCard1999" class="citation book cs1">Card, David (1999). "The Causal Effect of Education on Earning". In Ashenfelter, O.; Card, D. (eds.). <i>Handbook of Labor Economics</i>. Amsterdam: Elsevier. pp. 1801–1863. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0444822895" title="Special:BookSources/978-0444822895"><bdi>978-0444822895</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=The+Causal+Effect+of+Education+on+Earning&rft.btitle=Handbook+of+Labor+Economics&rft.place=Amsterdam&rft.pages=1801-1863&rft.pub=Elsevier&rft.date=1999&rft.isbn=978-0444822895&rft.aulast=Card&rft.aufirst=David&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.econometricsociety.org/">"Home"</a>. <i>www.econometricsociety.org</i><span class="reference-accessdate">. Retrieved <span class="nowrap">14 February</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.econometricsociety.org&rft.atitle=Home&rft_id=http%3A%2F%2Fwww.econometricsociety.org%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://direct.mit.edu/rest">"The Review of Economics and Statistics"</a>. <i>direct.mit.edu</i><span class="reference-accessdate">. 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Retrieved <span class="nowrap">8 October</span> 2013</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Econometrics+Journal&rft.pub=Wiley.com&rft_id=http%3A%2F%2Fwww.wiley.com%2Fbw%2Fjournal.asp%3Fref%3D1368-4221&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.scimagojr.com/journalsearch.php?q=28973&tip=sid&clean=0">"Journal of Econometrics"</a>. <i>www.scimagojr.com</i><span class="reference-accessdate">. Retrieved <span class="nowrap">14 February</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.scimagojr.com&rft.atitle=Journal+of+Econometrics&rft_id=https%3A%2F%2Fwww.scimagojr.com%2Fjournalsearch.php%3Fq%3D28973%26tip%3Dsid%26clean%3D0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.cambridge.org/core/journals/econometric-theory">"Home"</a><span class="reference-accessdate">. Retrieved <span class="nowrap">14 March</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Home&rft_id=https%3A%2F%2Fwww.cambridge.org%2Fcore%2Fjournals%2Feconometric-theory&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-22"><span class="mw-cite-backlink"><b><a href="#cite_ref-22">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation journal cs1"><a rel="nofollow" class="external text" href="https://onlinelibrary.wiley.com/journal/10991255?journalRedirectCheck=true">"Journal of Applied Econometrics"</a>. <i>Journal of Applied Econometrics</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+Applied+Econometrics&rft.atitle=Journal+of+Applied+Econometrics&rft_id=https%3A%2F%2Fonlinelibrary.wiley.com%2Fjournal%2F10991255%3FjournalRedirectCheck%3Dtrue&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-23"><span class="mw-cite-backlink"><b><a href="#cite_ref-23">^</a></b></span> <span class="reference-text">Econometric Reviews Print ISSN: 0747-4938 Online ISSN: 1532-4168 <a rel="nofollow" class="external free" href="https://www.tandfonline.com/action/journalInformation?journalCode=lecr20">https://www.tandfonline.com/action/journalInformation?journalCode=lecr20</a></span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.amstat.org/publications/journals">"Journals"</a>. <i>Default</i><span class="reference-accessdate">. Retrieved <span class="nowrap">14 February</span> 2024</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Default&rft.atitle=Journals&rft_id=https%3A%2F%2Fwww.amstat.org%2Fpublications%2Fjournals&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcCloskey1985" class="citation journal cs1">McCloskey (May 1985). "The Loss Function has been mislaid: the Rhetoric of Significance Tests". <i>American Economic Review</i>. <b>75</b> (2).</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=The+Loss+Function+has+been+mislaid%3A+the+Rhetoric+of+Significance+Tests&rft.volume=75&rft.issue=2&rft.date=1985-05&rft.au=McCloskey&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text"><a href="/wiki/Stephen_Ziliak" title="Stephen Ziliak">Stephen T. Ziliak</a> and <a href="/wiki/Deirdre_McCloskey" title="Deirdre McCloskey">Deirdre N. McCloskey</a> (2004). "Size Matters: The Standard Error of Regressions in the <i>American Economic Review</i>", <i>Journal of Socio-Economics</i>, 33(5), pp. <a rel="nofollow" class="external text" href="http://faculty.roosevelt.edu/Ziliak/doc/Size%20Matters%20Journal%20of%20Socio-Economics%20Ziliak%20and%20McCloskey.pdf">527-46</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100625163446/http://faculty.roosevelt.edu/Ziliak/doc/Size%20Matters%20Journal%20of%20Socio-Economics%20Ziliak%20and%20McCloskey.pdf">Archived</a> 25 June 2010 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> (press <b>+</b>).</span> </li> <li id="cite_note-Leamer_31–43-27"><span class="mw-cite-backlink">^ <a href="#cite_ref-Leamer_31–43_27-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Leamer_31–43_27-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLeamer1983" class="citation journal cs1">Leamer, Edward (March 1983). "Let's Take the Con out of Econometrics". <i>American Economic Review</i>. <b>73</b> (1): 31–43. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/1803924">1803924</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=American+Economic+Review&rft.atitle=Let%27s+Take+the+Con+out+of+Econometrics&rft.volume=73&rft.issue=1&rft.pages=31-43&rft.date=1983-03&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F1803924%23id-name%3DJSTOR&rft.aulast=Leamer&rft.aufirst=Edward&rfr_id=info%3Asid%2Fen.wikipedia.org%3AEconometrics" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Econometrics&action=edit&section=10" title="Edit section: 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href="https://www.economicsnetwork.ac.uk/subjects/econometrics.htm">Teaching Econometrics</a> (Index by the <a href="/wiki/Economics_Network" title="Economics Network">Economics Network</a> (UK))</li> <li><a rel="nofollow" class="external text" href="https://web.archive.org/web/20071014045229/http://aea-eu.com/">Applied Econometric Association</a></li> <li><a rel="nofollow" class="external text" href="http://sofie.stern.nyu.edu/">The Society for Financial Econometrics</a></li> <li><a rel="nofollow" class="external text" href="https://philpapers.org/rec/BRACAI-3">The interview with Clive Granger – Nobel winner in 2003, about econometrics</a></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output 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title="Cultural economics">Cultural</a></li> <li><a href="/wiki/Democracy_and_economic_growth" title="Democracy and economic growth">Democracy</a></li> <li><a href="/wiki/Demographic_economics" title="Demographic economics">Demographic</a></li> <li><a href="/wiki/Development_economics" title="Development economics">Development</a></li> <li><a href="/wiki/Economics_of_digitization" title="Economics of digitization">Digitization</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Education_economics" title="Education economics">Education</a></li> <li><a href="/wiki/Engineering_economics" title="Engineering economics">Engineering</a></li> <li><a href="/wiki/Environmental_economics" title="Environmental economics">Environmental</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Expeditionary_economics" title="Expeditionary 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<li><a href="/wiki/Public_choice" title="Public choice">Public choice</a> / <a href="/wiki/Social_choice_theory" title="Social choice theory">Social choice theory</a></li> <li><a href="/wiki/Regional_economics" title="Regional economics">Regional</a></li> <li><a href="/wiki/Rural_economics" title="Rural economics">Rural</a></li> <li><a href="/wiki/Service_economy" title="Service economy">Service</a></li> <li><a href="/wiki/Socioeconomics" class="mw-redirect" title="Socioeconomics">Socio</a></li> <li><a href="/wiki/Economic_sociology" title="Economic sociology">Sociological</a></li> <li><a href="/wiki/Solidarity_economy" title="Solidarity economy">Solidarity</a></li> <li><a href="/wiki/Economic_statistics" title="Economic statistics">Statistics</a></li> <li><a href="/wiki/Urban_economics" title="Urban economics">Urban</a></li> <li><a href="/wiki/Welfare_economics" title="Welfare economics">Welfare</a></li></ul></div></div> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Schools_of_economic_thought" title="Schools of economic thought">Schools</a><br />(<a href="/wiki/History_of_economic_thought" title="History of economic thought">history</a>)<br /></div></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Mainstream_economics" title="Mainstream economics">Mainstream</a></li> <li><a href="/wiki/Heterodox_economics" title="Heterodox economics">Heterodox</a></li> <li><a href="/wiki/American_School_(economics)" title="American School (economics)">American (National)</a></li> <li><a href="/wiki/Ancient_economic_thought" title="Ancient economic thought">Ancient thought</a></li> <li><a href="/wiki/Anarchist_economics" class="mw-redirect" title="Anarchist economics">Anarchist</a> <ul><li><a href="/wiki/Mutualism_(economic_theory)" title="Mutualism (economic theory)">Mutualism</a></li></ul></li> <li><a href="/wiki/Austrian_School" class="mw-redirect" title="Austrian School">Austrian</a></li> <li><a href="/wiki/Behavioral_economics" title="Behavioral economics">Behavioral</a></li> <li><a href="/wiki/Buddhist_economics" title="Buddhist economics">Buddhist</a></li> <li><a href="/wiki/Chartalism" title="Chartalism">Chartalism</a> <ul><li><a href="/wiki/Modern_monetary_theory" title="Modern monetary theory">Modern monetary theory</a></li></ul></li> <li><a href="/wiki/Chicago_school_of_economics" title="Chicago school of economics">Chicago</a></li> <li><a href="/wiki/Classical_economics" title="Classical economics">Classical</a></li> <li><a href="/wiki/Critique_of_political_economy" title="Critique of political economy">Critique of political economy</a></li> <li><a href="/wiki/Economic_democracy" title="Economic democracy">Democratic</a></li> <li><a href="/wiki/Disequilibrium_macroeconomics" title="Disequilibrium macroeconomics">Disequilibrium</a></li> <li><a href="/wiki/Ecological_economics" title="Ecological economics">Ecological</a></li> <li><a href="/wiki/Evolutionary_economics" title="Evolutionary economics">Evolutionary</a></li> <li><a href="/wiki/Feminist_economics" title="Feminist economics">Feminist</a></li> <li><a href="/wiki/Georgism" title="Georgism">Georgism</a></li> <li><a href="/wiki/Happiness_economics" title="Happiness economics">Happiness</a></li> <li><a href="/wiki/Historical_school_of_economics" title="Historical school of economics">Historical</a></li> <li><a href="/wiki/Humanistic_economics" title="Humanistic economics">Humanistic</a></li> <li><a href="/wiki/Institutional_economics" title="Institutional economics">Institutional</a></li> <li><a href="/wiki/Keynesian_economics" title="Keynesian economics">Keynesian</a> <ul><li><a href="/wiki/Neo-Keynesian_economics" class="mw-redirect" title="Neo-Keynesian economics">Neo-</a> (<a href="/wiki/Neoclassical_synthesis" title="Neoclassical synthesis">neoclassical–Keynesian synthesis</a>)</li> <li><a href="/wiki/New_Keynesian_economics" title="New Keynesian economics">New</a></li> <li><a href="/wiki/Post-Keynesian_economics" title="Post-Keynesian economics">Post-</a> <ul><li><a href="/wiki/Monetary_circuit_theory" title="Monetary circuit theory">Circuitism</a></li></ul></li></ul></li> <li><a href="/wiki/Malthusianism" title="Malthusianism">Malthusianism</a></li> <li><a href="/wiki/Marginalism" title="Marginalism">Marginalism</a></li> <li><a href="/wiki/Marxian_economics" title="Marxian economics">Marxian</a> <ul><li><a href="/wiki/Neo-Marxian_economics" class="mw-redirect" title="Neo-Marxian economics">Neo-</a></li></ul></li> <li><a href="/wiki/Mercantilism" title="Mercantilism">Mercantilism</a></li> <li><a href="/wiki/Mixed_economy" title="Mixed economy">Mixed</a></li> <li><a href="/wiki/Neoclassical_economics" title="Neoclassical economics">Neoclassical</a> <ul><li><a href="/wiki/Lausanne_School" title="Lausanne School">Lausanne</a></li></ul></li> <li><a href="/wiki/New_classical_macroeconomics" title="New classical macroeconomics">New classical</a> <ul><li><a href="/wiki/Real_business-cycle_theory" title="Real business-cycle theory">Real business-cycle theory</a></li></ul></li> <li><a href="/wiki/New_institutional_economics" title="New institutional economics">New institutional</a></li> <li><a href="/wiki/Physiocracy" title="Physiocracy">Physiocracy</a></li> <li><a href="/wiki/Socialist_economics" title="Socialist economics">Socialist</a></li> <li><a href="/wiki/Stockholm_School_(economics)" title="Stockholm School (economics)">Stockholm</a></li> <li><a href="/wiki/Supply-side_economics" title="Supply-side economics">Supply-side</a></li> <li><a href="/wiki/Thermoeconomics" title="Thermoeconomics">Thermo</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><div style="display: inline-block; line-height: 1.2em; padding: .1em 0;"><a href="/wiki/Economist" title="Economist">Economists</a><br /></div></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Bernard_de_Mandeville" class="mw-redirect" title="Bernard de Mandeville">de Mandeville</a></li> <li><a href="/wiki/Fran%C3%A7ois_Quesnay" title="François Quesnay">Quesnay</a></li> <li><a href="/wiki/Adam_Smith" title="Adam Smith">Smith</a></li> <li><a href="/wiki/Thomas_Robert_Malthus" title="Thomas Robert Malthus">Malthus</a></li> <li><a href="/wiki/Jean-Baptiste_Say" title="Jean-Baptiste Say">Say</a></li> <li><a href="/wiki/David_Ricardo" title="David Ricardo">Ricardo</a></li> <li><a href="/wiki/Johann_Heinrich_von_Th%C3%BCnen" title="Johann Heinrich von Thünen">von Thünen</a></li> <li><a href="/wiki/Friedrich_List" title="Friedrich List">List</a></li> <li><a href="/wiki/Fr%C3%A9d%C3%A9ric_Bastiat" title="Frédéric Bastiat">Bastiat</a></li> <li><a href="/wiki/Antoine_Augustin_Cournot" title="Antoine Augustin Cournot">Cournot</a></li> <li><a href="/wiki/John_Stuart_Mill" title="John Stuart Mill">Mill</a></li> <li><a href="/wiki/Hermann_Heinrich_Gossen" title="Hermann Heinrich Gossen">Gossen</a></li> <li><a href="/wiki/Karl_Marx" title="Karl Marx">Marx</a></li> <li><a href="/wiki/L%C3%A9on_Walras" title="Léon Walras">Walras</a></li> <li><a href="/wiki/William_Stanley_Jevons" title="William Stanley Jevons">Jevons</a></li> <li><a href="/wiki/Henry_George" title="Henry George">George</a></li> <li><a href="/wiki/Carl_Menger" title="Carl Menger">Menger</a></li> <li><a href="/wiki/Alfred_Marshall" title="Alfred Marshall">Marshall</a></li> <li><a href="/wiki/Francis_Ysidro_Edgeworth" title="Francis Ysidro Edgeworth">Edgeworth</a></li> <li><a href="/wiki/John_Bates_Clark" title="John Bates Clark">Clark</a></li> <li><a href="/wiki/Vilfredo_Pareto" title="Vilfredo Pareto">Pareto</a></li> <li><a href="/wiki/Eugen_von_B%C3%B6hm-Bawerk" title="Eugen von Böhm-Bawerk">von Böhm-Bawerk</a></li> <li><a href="/wiki/Friedrich_von_Wieser" title="Friedrich von Wieser">von Wieser</a></li> <li><a href="/wiki/Thorstein_Veblen" title="Thorstein Veblen">Veblen</a></li> <li><a href="/wiki/Irving_Fisher" title="Irving Fisher">Fisher</a></li> <li><a href="/wiki/Arthur_Cecil_Pigou" title="Arthur Cecil Pigou">Pigou</a></li> <li><a href="/wiki/Eli_Heckscher" title="Eli Heckscher">Heckscher</a></li> <li><a href="/wiki/Ludwig_von_Mises" title="Ludwig von Mises">von Mises</a></li> <li><a href="/wiki/Joseph_Schumpeter" title="Joseph Schumpeter">Schumpeter</a></li> <li><a href="/wiki/John_Maynard_Keynes" title="John Maynard Keynes">Keynes</a></li> <li><a href="/wiki/Frank_Knight" title="Frank Knight">Knight</a></li> <li><a href="/wiki/Karl_Polanyi" title="Karl Polanyi">Polanyi</a></li> <li><a href="/wiki/Ragnar_Frisch" title="Ragnar Frisch">Frisch</a></li> <li><a href="/wiki/Piero_Sraffa" title="Piero Sraffa">Sraffa</a></li> <li><a href="/wiki/Gunnar_Myrdal" title="Gunnar Myrdal">Myrdal</a></li> <li><a href="/wiki/Friedrich_Hayek" title="Friedrich Hayek">Hayek</a></li> <li><a href="/wiki/Micha%C5%82_Kalecki" title="Michał Kalecki">Kalecki</a></li> <li><a href="/wiki/Wilhelm_R%C3%B6pke" title="Wilhelm Röpke">Röpke</a></li> <li><a href="/wiki/Simon_Kuznets" title="Simon Kuznets">Kuznets</a></li> <li><a href="/wiki/Jan_Tinbergen" title="Jan Tinbergen">Tinbergen</a></li> <li><a href="/wiki/Joan_Robinson" title="Joan Robinson">Robinson</a></li> <li><a href="/wiki/John_von_Neumann" title="John von Neumann">von Neumann</a></li> <li><a href="/wiki/John_Hicks" title="John Hicks">Hicks</a></li> <li><a href="/wiki/Oskar_R._Lange" title="Oskar R. Lange">Lange</a></li> <li><a href="/wiki/Wassily_Leontief" title="Wassily Leontief">Leontief</a></li> <li><a href="/wiki/John_Kenneth_Galbraith" title="John Kenneth Galbraith">Galbraith</a></li> <li><a href="/wiki/Tjalling_Koopmans" title="Tjalling Koopmans">Koopmans</a></li> <li><a href="/wiki/E._F._Schumacher" title="E. F. Schumacher">Schumacher</a></li> <li><a href="/wiki/Milton_Friedman" title="Milton Friedman">Friedman</a></li> <li><a href="/wiki/Paul_Samuelson" title="Paul Samuelson">Samuelson</a></li> <li><a href="/wiki/Herbert_A._Simon" title="Herbert A. Simon">Simon</a></li> <li><a href="/wiki/James_M._Buchanan" title="James M. Buchanan">Buchanan</a></li> <li><a href="/wiki/Kenneth_Arrow" title="Kenneth Arrow">Arrow</a></li> <li><a href="/wiki/William_Baumol" title="William Baumol">Baumol</a></li> <li><a href="/wiki/Robert_Solow" title="Robert Solow">Solow</a></li> <li><a href="/wiki/Murray_Rothbard" title="Murray Rothbard">Rothbard</a></li> <li><a href="/wiki/Alan_Greenspan" title="Alan Greenspan">Greenspan</a></li> <li><a href="/wiki/Thomas_Sowell" title="Thomas Sowell">Sowell</a></li> <li><a href="/wiki/Gary_Becker" title="Gary Becker">Becker</a></li> <li><a href="/wiki/Elinor_Ostrom" title="Elinor Ostrom">Ostrom</a></li> <li><a href="/wiki/Amartya_Sen" title="Amartya Sen">Sen</a></li> <li><a href="/wiki/Robert_Lucas_Jr." title="Robert Lucas Jr.">Lucas</a></li> <li><a href="/wiki/Joseph_Stiglitz" title="Joseph Stiglitz">Stiglitz</a></li> <li><a href="/wiki/Richard_Thaler" title="Richard Thaler">Thaler</a></li> <li><a href="/wiki/Hans-Hermann_Hoppe" title="Hans-Hermann Hoppe">Hoppe</a></li> <li><a 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