This paper examines the experiment in macroeconometrics, the different forms it has taken and the rules that have been proposed for its proper conduct. Here an 'experiment' means putting a question to a model and getting an answer. Different types of experiment are distinguished and the...

In 1951 R. A. Fisher described what had been achieved in the 20th century so far: "we have learnt (i) To conserve in its statistical reduction the scientific information latent in any body of observations. (ii) To conduct experimental and observational inquiries so as to maximise the information...