Chapter 45 Econometrics: the Keynes–Tinbergen controversy
The controversy between Keynes and Tinbergen was about the applicability of regression analysis to economic material. According to Keynes, a necessary requirement was that the economic material is homogeneous, in time and place, and that therefore Tinbergen should test his material for this condition. Tinbergen never addressed this problem, because he assumed that economic material was like the material studied in natural science, namely, homogeneous. He therefore could not understand Keynes’s criticisms, and so assumed that Keynes did not understand his method.
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Reference & Dictionaries
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Show ItemsFront Matter
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Show ItemsPART I: Life and Work
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Show ItemsPART II: Influences
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Show ItemsPART III: Major Work
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PART IV: Economic Analysis
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Show ItemsPART V: Critics And Contemporaries
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Show ItemsPART VI: Associates
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Show ItemsPART VII: Legacy And Impact
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Show ItemsPART VIII: Keynesianism In Various Countries
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