x and z are used to denote the conditioning (explaining) variables. The conven- tion in econometrics is to use the character y to denote the variable to be explained, while the characters. What are the roman characters used in econometrics?Įconomists typically denote variables by the italicized roman characters y, x, and/or z. The term “econometrics” is believed to have been crafted by Ragnar Frisch (1895-1973) of Norway, one of the three principal founders of the Econometric Society, first editor of the journal Econometrica, and co-winner of the first Nobel Memorial Prize in Economic Sciences in 1969. Who was the first person to use the term econometrics? Probability and statistics textbooks written by econometricians include Ramanathan (1993), Amemiya (1994), Gallant (1997), and Linton (2017). Frequently Asked Questions Which is the best textbook for econometrics and statistics?įor more advanced statistical theory, I recommend Lehmann and Casella (1998), van der Vaart (1998), Shao (2003), and Lehmann and Romano (2005).
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