Distributed Control of Econometric Data Bases and Models
A remarkable development is now taking place in the field of econometrics because of the rapid progress of personal computers. The price of a personal computer which has enough capacity to carry out full-scale econometric research is now much lower than that of a small car. Many econometricians are now doing without large-scale computers and are free from the burden of obtaining large computing budgets. The fact that any research worker can own and run in his office or at home a personal computer of much the same capacity as a large-scale computer, will surely have a profound effect on the evolution of econometrics. Even theoretical economists have began to utilise personal computers to prove their theorems.
KeywordsEndogenous Variable Econometric Model National Income Block Model Post Office
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