Els premis Nobel d'Economia 2003: importància de les contribucions de Robert Engle i Clive Granger

Authors

  • Màxim Borrell Vidal

Abstract

Clive Grangers main contribution has been statistical co-integration, a process for analysing the relationship between two economic variables. He has also developed Grangers Causality Test to determine which of two variables influences the other, establishing their relation of dynamic dependence. Robert Engle has worked alongside Granger and the Nobel Academy emphasised his development of useful methods for analysing time series whose characteristics vary over time. Even when techniques are useful, however, their drawbacks should be kept in mind because ethical concerns should always prevail.Without an ethical structure, a technique has no objective.

Published

2012-03-20

Issue

Section

Part II: Les conferències de la Societat Catalana d'Economia