Pawel Ciompa and the meaning of econometrics: a comparison of two concepts

Karl-Friedrich Israel ()
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Karl-Friedrich Israel: UCO - Université Catholique de l'Ouest, GRANEM - Groupe de Recherche Angevin en Economie et Management - UA - Université d'Angers - Institut Agro Rennes Angers - Institut Agro - Institut national d'enseignement supérieur pour l'agriculture, l'alimentation et l'environnement, EGEI - Éthique et Gouvernance de l’Entreprise et des Institutions - UCO - Université Catholique de l'Ouest

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Abstract: Pawel Ciompa's original and forgotten conception of econometrics is compared with Ragnar Frisch's interpretation of the term. Ciompa conceived of econometrics as being entirely descriptive, facilitating the conveyance of information in the field of accounting. In contrast, Frisch regarded it as a quantitative and empirical approach to economic theorising. Arguments against Frisch's conception of econometrics have been brought forward among others by Ciompa's countrymen of the Austrian School. Ciompa's own conception is immune to that criticism. It is concluded that modern econometrics should be confined to the narrower descriptive character that Pawel Ciompa originally attached to the term.

Date: 2023-06-23
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Published in European Journal of the History of Economic Thought, 2023, 30 (4), pp.635-657. ⟨10.1080/09672567.2023.2225862⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05778518

DOI: 10.1080/09672567.2023.2225862

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