Abstract
7.1 Slutzky’s modelling of the ‘summation of random causes’, introduced in §§5.11–5.16, and the ‘ordinary regression equations’ (6.10) and (6.13) of Yule and Walker were to become the basic models of time series analysis. One of the reasons why they have been such enduring features, apart from their obvious usefulness, may be because of their renaming as moving averages and linear autoregressions, respectively, by Herman Wold (1938, page 2), as these are terms that convey their structure with great clarity and effectiveness.1
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© 2011 Terence C. Mills
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Mills, T.C. (2011). The Formal Modelling of Stationary Time Series: Wold and the Russians. In: The Foundations of Modern Time Series Analysis. Palgrave Advanced Texts in Econometrics series. Palgrave Macmillan, London. https://doi.org/10.1057/9780230305021_7
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DOI: https://doi.org/10.1057/9780230305021_7
Publisher Name: Palgrave Macmillan, London
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