Two distinguished New Zealanders pioneered some of the foundations of modern econometrics. Alec Aitken, one of the most … decades before their use in economics), and statistical estimation theory leading to the Cramér Rao bound. Rex Bergstrom … 1950s, opened up the field of exact distribution theory, developed cyclical growth models in economic theory, and spent …

Economists, like other scientists, routinely rely on classical statistical inference to form expectations on whether a …