Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/209785 
Year of Publication: 
2000
Series/Report no.: 
Arbeidsnotat No. 2000/12
Publisher: 
Norges Bank, Oslo
Abstract: 
The paper describes the influx of mathematical statistics in economics. It focuses on an approach to macroeconometric modelling which is based on fundamental statistical concepts like the joint distribution function of all observable variables for the whole sample period. The methodology relies on valid conditioning and marginalisation of this function in order to arrive at tractable subsystems, which can be analysed with statistical methods. Two case studies - the modelling of the household sector and the modelling of wages and prices in the Norges Bank RIMINI model - highlight this.
Subjects: 
RIMINI model
Norges Bank
Haavelmo distribution
macroeconometric modelling
role of statistics
sequential conditioning and marginalisation
dynamic modelling
aggregate consumption
wages and prices
testing of rival models
JEL: 
B23
C50
C51
C52
C53
E21
E31
E37
Persistent Identifier of the first edition: 
ISBN: 
82-7553-160-8
Creative Commons License: 
cc-by-nc-nd Logo
Document Type: 
Working Paper
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