ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Econometricians Have a Tame Session

(By One of Them) THE SIXTH Indian Econometric Conference, held in Calcutta from December 26 to 28 was a tame affair. Compared to the third and fourth Conferences, where a number of interesting empirical studies with strong grounding in theory were presented, the latest session was dull. Econometricians now do not seem to bother about either the relevance of the conceptual framework they use or the appropriateness of their techniques. They continue not to ask simple questions like "what are we measuring?" "How are we measuring?" and so on. There appears to be a cleavage between those who are raising fundamental methodological questions about the measurement of economic magnitudes and those who carry on the actual empirical work. The sooner this cleavage is bridged the better it would be for the young science of econometrics. Again, curiously enough, a large number of papers presented to the Conference did not use any data; they were confined to methodological refinements much beyond the present state of empirical work. Indeed it is high time that we turn to the more important and meaningful task of confronting our methods with actual empirical information and assessing their usefulness.

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