Econometrics Quotes

• The first and most optimistic response was complete rational expectations econometrics. A rational expectations equilibrium is a likelihood function. Maximize it.

  Thomas J. Sargent

  Optimistic, Expectations, Firsts

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• Econometrics may be defined as the quantitative analysis of actual economic phenomena based on the concurrent development of theory and observation, related by appropriate methods of inference.

  Paul Samuelson

  Analysis, Development, May

  "Report of the evaluative committee for Econometrica". Paper by Paul Samuelson, Tjalling Koopmans, and Richard Stone. Econometrica - journal of the Econometric Society, pp. 141-146, 1954.

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• I work on the boundary between economics and statistics in this field called econometrics. Part of my interest is understanding how you use statistics in productive ways to analyze dynamic economic models.

  Lars Peter Hansen

  Economic Models, Understanding, Use

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• Economic development is something much wider and deeper than economics, let alone econometrics. Its roots lie outside the economic sphere, in education, organisation, discipline and, beyond that, in political independence and a national consciousness of self-reliance.

  E. F. Schumacher

  Lying, Self, Roots

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• [The 1975 Chase Econometrics] showed that for every one dollar spent on Apollo, 14 came back into the U.S. economy.

  Brian Cox

  Motivation, Inspiration, Dollars

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• To reduce the interpretation of the causality of all kinds of climate changes and of global warming to one variable, CO2, or to a small proportion of one variable - human-induced CO2 - is impossible to accept. Elementary rationality and my decades-long experience with econometric modelling and statistical testing of scientific hypotheses tell me that it is impossible to make strong conclusions based on mere correlation of two (or more) time series.

  Vaclav Klaus

  Strong, Two, Long

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• During the early 1960s, I decided to supplement research support for quantitative economic studies at Pennsylvania by selling econometric forecasts to private and public sector buyers.

  Lawrence Klein

  Support, Pennsylvania, Research

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