Whither Econometrics?

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Abstract
To try to chart the future of development in econometrics during the 1970's, it is useful to review the origins of the subject before World War II and the modern era in which our present body of knowledge flowered, 1940–1970. New developments should be made in computer analysis of large data banks, more complete systems, control systems, and microeconometric applications. It is likely that the future of the subject will be less tied to the United States than in the past few decades. Problem areas where research developments should prove to be fruitful are in the treatment of nonlinearities, serial correlation of error, estimation of prediction reliability, small sample distributions, pooling of diverse samples, lag distributions, and the use of a priori information.

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