Past,present and future of econometrics |
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| Institution: | 1. Hamburg Business School, University of Hamburg, Moorweidenstr. 18, 20148 Hamburg, Germany;2. Munich Center for the Economics of Aging, Max Planck Society, Amalienstr. 33, Munich 80799, Germany;1. Department of Irrigation & Reclamation Engineering, Faculty of Agricultural Engineering & Technology, College of Agriculture & Natural Resources, University of Tehran, Karaj, Tehran, Iran;2. Department of Irrigation & Reclamation Engineering, Faculty of Agricultural Engineering & Technology, College of Agriculture & Natural Resources, University of Tehran, Karaj, Tehran, Iran;3. Department of Geography, University of California, Santa Barbara, CA, United States;1. Faculty of Engineering, Department of Biomedical Engineering, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul 49417-93451, Iran;2. Faculty of Engineering, Department of Electrical Engineering, Aliabad Katoul Branch, Islamic Azad University, Aliabad Katoul 49417-93451, Iran |
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| Abstract: | In this article salient aspects of the past, present and future of econometrics are considered. These include a resumé of past key developments in econometric modeling, inference and uses of econometrics. Further, some comments are made relating to various statistical inference procedures, techniques of model formulation and the relations of theory and application. It is concluded that a stronger interaction between theory and application will do much to promote further progress in econometrics in the future. |
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