By Edmond Malinvaud (auth.), Prof. Daniel J. Slottje (eds.)
Articles on econometric method with designated connection with the quantification of poverty and monetary inequality are provided during this e-book. Poverty and inequality size current precise difficulties to the econometrician, and almost all these papers examine how you can assault these problems.
The issues and contributions within the ebook are a superb illustration of Camilo Dagum's miraculous range of pursuits and total eclecticism. a number of of the authors are top pioneers in econometric method. a number of others are pioneers in monetary conception and others are the major utilized economists in source of revenue distribution research on the planet. the subjects effectively mirror Camilo Dagum's breadth of knowing throughout varios monetary sub-fields, all complicated in nature.
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Extra resources for Advances in Econometrics, Income Distribution and Scientific Methodology: Essays in Honor of Camilo Dagum
17Por the early history of MASSAGER, see McCracken (1967) and McCracken and Sonnen (1972). On the history and uses ofMODLER, see Renfro (1996a). We shall return to the MODLER and TROLL comprehensive programs when we discuss briefly in Section 5 developments in the current decade, during which MODLER appears to have assumed a leading role. A comprehensive survey of developments with regard to integrated programs, up to the beginning of the 1980s, may be found in Drud's survey article (1983a). Mention may also be made of two other comprehensive modelling programs developed during the 1970s and 1980s: AREMOS, created and maintained by the WEPA group for use on their series of models of the 1980s and EPS, developed and maintained by DRIlMcGraw-HiII for use on the DR!
This was so because the iteration of the evaluation of single equations was much faster than matrix inversion, which the block solution procedure employed. The well-known methods of Gauss-Seidel iteration15 were thus introduced to econometrics and have been used for decades now, all over the world, in practically every centre faced with the computational problem of solving simultaneous equation systems. Pioneering work in developing solution programs to implement this powerful technique was done by Morris 14See also the discussion in Michael D.
The concluding section presents one or two philosophical thoughts about the nature of computation and whether it should be regarded as only a support activity to model-building. In addition, I hazard some cautious guesses about developments to the new millennium and slightly beyond. S. economy is generally considered to have been Tinbergen's 1939 model, constructed in Geneva for the League of Nations just before the outbreak of World War 11. 3 This model consisted of 31 behavioural equations and 17 identities, at least enumerated in Bodkin, Klein, Marwah (1991).