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Econometric modelling in Italy: From economic planning to academic research
Journal Title: HISTORY OF ECONOMIC THOUGHT AND POLICY 
Author/s: Antonella Rancan 
Year:  2021 Issue: Language: English 
Pages:  20 Pg. 63-82 FullText PDF:  271 KB
DOI:  10.3280/SPE2021-001003
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The paper deals with the introduction and acceptance of econometric model-ling as a tool to conduct economic policy analysis in Italy in the Post War. A re-search practice first applied in public and private institutions other than universi-ties. It is argued that economic planning and policymakers’ needs of empirical es-timations, simulations and forecasts played an important role in supporting quan-titative research, at the time when economics was still conceived as a theoretical discipline. Sylos Labini’s (1967) econometric model, the Modellaccio (1970-75), the University of Bologna model (1976) were the first examples of econometric modelling activities within academia. Only since the late 1980s, also due to a gen-erational change, econometrics is fully accepted and introduced in economics cur-ricula with the discipline that aligned to international standards.
Keywords: economic planning, postwar macroeconometric modelling, Modellac-cio, University of Bologna model, Bank of Italy macroeconometric model
Jel Code: B22, B23, N14

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Antonella Rancan, in "HISTORY OF ECONOMIC THOUGHT AND POLICY" 1/2021, pp. 63-82, DOI:10.3280/SPE2021-001003

   

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