Robbins on Economic Generalizations and Reality in the Light of Modern Econometrics

C-Tier
Journal: Economica
Year: 2009
Volume: 76
Issue: s1
Pages: 873-890

Authors (2)

ROGER E. BACKHOUSE (University of Birmingham) STEVEN N. DURLAUF (not in RePEc)

Score contribution per author:

0.503 = (α=2.01 / 2 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

This paper examines Lionel Robbins' critical attitude towards formal empirical work from the standpoint of modern econometrics. It argues that his attitude towards empirical work rested on indefensible assumptions and that he failed to realise that the role he saw for empirical work undermined his belief in the primacy of economic theory. This matters because Robbins' attitudes are echoed in modern economics, best exemplified by the calibration methodology of Kydland and Prescott, which is vulnerable to similar criticisms.

Technical Details

RePEc Handle
repec:bla:econom:v:76:y:2009:i:s1:p:873-890
Journal Field
General
Author Count
2
Added to Database
2026-01-24