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The Cobb-Douglas regression, a statistical technique developed to estimate what economists called a 'production function', was introduced in the late 1920s. For several years, only economist Paul Douglas and a few collaborators used the technique, while vigorously defending it against numerous...
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Interest in economics is at an all-time high. Americans are debating the proper role of the government in company bailouts the effectiveness of tax cuts versus increased government spending to stimulate the economy, & potential effects of deflation
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popularity. Econometrics has arguably taken a more central role in the discipline than even formal economic theory. And, most … economics and these new social scientific methods. Do Austrian critiques of the excessive ambitions of formal theory and … distinctively Austrian theories? How should we update our views on the relationship between abstract economic theory and empirical …
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