"Haavelmo was the first to recognize the capacity of economic models to guide policies. This paper describes some of the barriers that Haavelmo’s ideas have had (and still have) to overcome, and lays out a logical framework that has evolved from Haavelmo’s insight and matured into a coherent and comprehensive account of the relationships between theory, data and policy questions. The mathematical tools that emerge from this framework now enable investigators to answer complex policy and counterfactual questions using simple routines, some by mere inspection of the model’s structure."
Quote Details
Added by wikiquote-import-bot
Unverified quote
0 likes
Nobel laureates in EconomicsEconomists from NorwayNobel laureates from NorwayMathematicians from Norway
Original Language: English
Available Languages (1)
Sources
Judea Pearl, "Trygve Haavelmo and the emergence of causal calculus." University of California Los Angeles, Computer Science Department, CA. 2012.
https://en.wikiquote.org/wiki/Trygve_Haavelmo
Revision History
No revisions have been submitted for this quote.
Categories
Trygve Haavelmo
Trygve Magnus Haavelmo (13 December 1911 – 28 July 1999) was an influential economist with main research interests centered on the fields of econometrics and economics theory.
2 quotes on TrueQuotesView all quotes by Trygve Haavelmo →
Related Quotes
"What makes a piece of mathematical economics not only mathematics but also economics is, I believe, this: When we set…"
"When I was a boy, I was not a believer at first, not yet, but then I changed my outlook and with it my writing also c…"
"I wrote my first novel when I was 20, I am now 65, so I have been practising this exercise of creation for a very lon…"
"God is three in one, something that is impossible to explain. [...] For a while I attended Quakers: no sacraments, no…"
"... It is true — certainly in mathematics; what I say now will not apply to the School of Historical Studies where pe…"
"I think in some sense much has to do with luck. If you are lucky many times, then you are a genius, of course. You ma…"
"Selberg’s work in automorphic forms and number theory led him naturally to the study of lattices (that is, discrete s…"
"Today, I know better. As I will try to explain, one of the main lessons from working on incentive problems for 25 yea…"
"The United States can't keep a completely open system if the rest of the world is less open. The United States may ha…"
"The euro is the way in which congresses and parliaments can be stripped of all power over monetary and fiscal policy.…"