Monday , February 17 2020
Home / Amol Agrawal: Mostly Economics / Entangled Economists: Ragnar Frisch and Jan Tinbergen

Entangled Economists: Ragnar Frisch and Jan Tinbergen

Summary:
Interesting new paper on the first nobel laureates in economics: It is 50 years since the first Nobel Prize in economics was awarded to Jan Tinbergen and Ragnar Frisch. This article analyzes, based on their correspondence, the cooperation between these pioneers of econometrics which spanned four decades and various subfields in economics. It is demonstrated that Frisch was responsible for the theoretical breakthroughs, which were then made public and popular by Tinbergen, this is true for the econometric models of the 1930s, the econometric decision-models of the 1950s, as well as the work on utility measurement. This division of labor is analyzed in relation to the goals they pursued in the research and their respective perfectionistic (Frisch) and pragmatic (Tinbergen) approaches to

Topics:
Amol Agrawal considers the following as important: , ,

This could be interesting, too:

Amol Agrawal writes The birds, the bees and the Bank? The birth-rate channel of monetary policy

Amol Agrawal writes Margaret Thatcher on Socialism: 20 of Her Best Quotes

Amol Agrawal writes Why and how Geography matters in nomination at Federal Reserve Board

Amol Agrawal writes A Bank of England perspective on gender diversity: past, present and future

Interesting new paper on the first nobel laureates in economics:

It is 50 years since the first Nobel Prize in economics was awarded to Jan Tinbergen and Ragnar Frisch. This article analyzes, based on their correspondence, the cooperation between these pioneers of econometrics which spanned four decades and various subfields in economics. It is demonstrated that Frisch was responsible for the theoretical breakthroughs, which were then made public and popular by Tinbergen, this is true for the econometric models of the 1930s, the econometric decision-models of the 1950s, as well as the work on utility measurement. This division of labor is analyzed in relation to the goals they pursued in the research and their respective perfectionistic (Frisch) and pragmatic (Tinbergen) approaches to economic science. Both men shared a sense of deep social responsibility, but small differences in personality and approaches to science generated important differences in scientific recognition and political reception of their work. Although they are widely remembered for helping to turn into economics into a quantitative empirical science, it is demonstrated in this article that personal factors were significant in shaping their scientific approaches.

Amol Agrawal
I am currently pursuing my PhD in economics. I have work-ex of nearly 10 years with most of those years spent figuring economic research in Mumbai’s financial sector.

Leave a Reply

Your email address will not be published. Required fields are marked *