Study week on the econometric approach to development planning

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Monograph

Identifikator:: 1824422792

URN:: urn:nbn:de:zbw-retromon-217476

Document type:: Monograph

Title:: Study week on the econometric approach to development planning

Place of publication:: Amsterdam [u.a.]

Publisher:: North-Holland Publ. Co. [u.a.]

Year of publication:: 1965

Scope:: XLVII, 1259 S.; graph. Darst.

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

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Title:: The analysis of economic systems / Richard Stone, Cambridge University - Cambridge - Great Britain

Collection:: Economics Books

08 PONTIFICIAE ACADEMIAE SCIENTIARVM SCRIPTA VARIA - ; of this they find themselves forced to replace the essentially symbolic concept of traditional economic theory by concrete operational con- cepts referring to directly observable and measurable facts with which a business man, an engineer or a practical economic planner has to reckon in the couse of his every day activities. In some instances we find ourselves seeking collaboration with other disciplines. In describing and analysing processes of pro- duction, an economic model builder must be prepared to speak the language of a production manager and of an engineer; in dealing with the structure and behavior of households, he must be prepared to speak the language and use the concepts of a demographer and a social-psychologist. The time when the economist or the econometrician could limit his efforts to construction of mathematical models — or devising more sophisticated methods of statistical inference — is passing fast. He has to take increasingly active part, not only in the actual use of these models and application of these methods, but in the organization and the direction of the fact gathering activities without which all theory and methodology will continue to be no more than intellectual exercise. VIAHALANOBIS There is one point in Professor WoLD’s observation about which [ am not clear. When he said « forecasting » did he include i targets »? It is possible to take suitable action to attain certain targets which are considered desirable; this is the system, for exam- ple, in central planning in U.S.S.R. It is not forecasting based essen- tially on historical experience or time-series analysis but setting up certain targets which it is desired to achieve over a certain period of time. Would Professor WoLp include setting up of such targets within forecasting? 1] Stone - pag. 96

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