Trygve Haavelmo

Wicksell on the Currency Theory vs. the Banking Principle

In his search for a positive theory of the value of money Wicksell found the Quantity Theory and, even more so, the Banking Principle, quite inadequate. It is argued in this paper that Wicksell may have underestimated the theoretical value of the Banking Principle and that this principle is not incompatible with Wicksell’s own “Positive Solution”.

THE NATURE AND LOGIC OF ECONOMETRIC INFERENCE: THE 1942 HILLSIDE LECTURE

This paper by Trygve Haavelmo was never submitted to a journal. The paper has been transcribed from Haavelmos handwritten notes for a seminar given in 1942. The notes were kept by Haavelmo and were not known to exist by anyone else until Haavelmo died in 1999 and left his scientific remains to the Department of Economics, University of Oslo. The paper was retrieved from these personal archives by Olav Bjerkholt, who transcribed it from the original handwritten manuscript and submitted it to Econometric Theory.

The Probability Approach in Econometrics

MODELS AND REALITY