EconPapers    
Economics at your fingertips  
 

Henri Theil’s Contributions to Demand Analysis

Kenneth Clements, E. A. Selvanathan and Saroja Selvanathan

Chapter 5 in Contributions to Consumer Demand and Econometrics, 1992, pp 74-104 from Palgrave Macmillan

Abstract: Abstract Henri Theil has made numerous, influential contributions to economics and econometrics. These include the theory of economic policy, information theory, forecasting, econometric methodology and demand analysis, to name just a few areas of major contributions. There is no question that Theil’s work has a style all of its own: it is characterized by insight, ingenuity, elegance and an almost unique combination of theory and measurement. Most (if not all) of his research in econometric methodology, for instance, has applications centrally in mind. A good example is the 2SLS estimator. The early work of the Cowles Commission on the estimation of simultaneous equation systems represented a major watershed in econometrics. However, the estimation methods they proposed were demanding to the point of being almost impractical given the state of computing techniques at that time. Theil solved this problem in his usual style by devising the 2SLS estimator which involves simply running two LS regressions.

Keywords: Real Income; Demand System; Demand Equation; European Economic Review; Economic Letter (search for similar items in EconPapers)
Date: 1992
References: Add references at CitEc
Citations:

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

Related works:
Working Paper: Henri Theil's Contributions to Demand Analysis (1989) Downloads
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:palchp:978-1-349-12221-9_5

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349122219

DOI: 10.1007/978-1-349-12221-9_5

Access Statistics for this chapter

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

 
Page updated 2025-03-31
Handle: RePEc:pal:palchp:978-1-349-12221-9_5