Changing Economics: Irving Fisher, the Cowles Commission, and the Econometric Society

Robert Dimand

Chapter Chapter 9 in Irving Fisher, 2019, pp 201-221 from Palgrave Macmillan

Abstract: Abstract Changing Economics: Fisher, the Cowles Commission, and the Econometric Society: From his simulation model of general equilibrium in the 1890s through his subsequent use of correlation analysis, distributed lags (the Fisher lag with arithmetically decreasing weights), the Fisher relation between real and nominal interest, the Fisher two-period optimal consumption diagram, and index number theory, Fisher’s approach to economics contrasted with the textbooks and journal articles of his mainstream contemporaries (and even more with another alternative to the mainstream, the institutionalist economics of Thorstein Veblen, with whom Fisher shared a dissertation adviser) but later economics came to look increasingly like Fisher’s economics. Two organizations that Fisher helped create, the Cowles Commission for Research in Economics and the Econometric Society (with its journal Econometrica), figured prominently in this transformation of economics.

Date: 2019
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:gtechp:978-3-030-05177-8_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9783030051778

DOI: 10.1007/978-3-030-05177-8_9

Access Statistics for this chapter

More chapters in Great Thinkers in Economics from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().