A COMPANION TO Theoretical Econometrics

Applications of Test Principles to Econometrics

Compared with statistics, econometrics is a relatively new discipline. Work in econometrics began in the 1920s mainly due to the initiatives of Ragnar Frisch and Jan Tinbergen. One of the first macro-econometric models was that of the Dutch economy built by Tinbergen in the mid-1930s. Possibly the first formal application of statistical tests was carried out by Tinbergen in his book, Statistical

[5] є 'Ає

[6] є 'є.

[7] plim (ZjX/T) = oijП plim (XX/T)

[8] plim (ZjX/T) = oijplim (X;X/T).

[9]

plim X' X = plim SX = XS + Q.

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