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Topic: Cowles Commission for Research in Economics


  
  THE COWLES COMMISSION
In 1939, the Cowles Commission moved to the University of Chicago under the directorship of Theodore O. Yntema, a student of Henry Schultz's.
Rising hostile opposition to the Cowles Commission by the department of economics at Chicago during the 1950s led Koopmans to convince the Cowles family to move it to Yale University in 1955 (where it was renamed the "Cowles Foundation").
The Cowles Commission approach to econometrics is famous for its concentration on the estimation of large, simultaneous equations models - particularly the economy-scale macroeconometric models enabled by the Keynesian Revolution in economics.
cepa.newschool.edu /het/schools/cowles.htm   (999 words)

  
 University of Chicago: Department of Economics
Chicago research in applied microeconomics has made important contributions to understanding problems in industrial organization, informational economics, human capital and other aspects of labor economics, agricultural economics and economic development, law and economics, including the Coase theorem, the economics of slavery, choice under uncertainty, and many other important issues.
Current research is analyzing returns to education, crime, use of illegal drugs, the value of life, and investments in health, marriage and divorce, including the effects on labor markets, demand for insurance, the structure of industries, and many other topics.
The Cowles Commission was active at Chicago in the 40's and 50's and developed pioneering methodology for the study of causality and simultaneity that is the foundation of modern econometrics.
economics.uchicago.edu /about_research.shtml   (816 words)

  
 History of the Cowles Commission, 1932-1952
He was a research associate of the Cowles Commission and in charge of the study from January, 1943, until it was finished at the end of 1944.
With the recent growth of the Cowles Commission, which was expected to continue, the sheer weight of administrative work involved in its affairs had become so great that the director of research had relatively little time or energy to devote to the research program and to his own research.
The Cowles Commission was granted the right to recommend academic rank in the University for its qualified staff members independently of their status in other departments, and thus begin to build up a faculty of its own.
dido.econ.yale.edu /P/reports/1932-52b.htm   (15837 words)

  
 The Move from Chicago to Yale
The Cowles Commission, which has spearheaded the movement to relate theories of economics to mathematical and statistical studies, was organized at Colorado Springs, Colorado in 1932 with financial support from Alfred.
Cowles moved to Chicago, it was decided to move the headquarters or the commission there, partly because of the difficulty in attracting topflight economists to a location so remote as Colorado.
Lloyd G. Reynolds, Sterling Professor of Economics and Chairman of the Department of Economics at Yale, in commenting on this new move of the Cowles Commission to Yale, said that "in a sense, this very important center for the study of economics is returning home, since Mr.
www.econ.yale.edu /cowles/archive/events/movetoyale.htm   (935 words)

  
 UCLA Anderson School of Management | Marschak Colloquium | In Memoriam
In the 1920s he held positions at a number of universities and economic research institutes in Germany; in addition, from 1924 to 1928 he was a leading writer on economic policy for the Frankfurter Zeitung.
At Chicago he was associated with the Cowles Commission for Research in Economics, where he served as its director from 1943 to 1948.
When the Cowles Commission moved to Yale in 1955, Jascha went with it and remained a professor of economics at Yale until 1960.
www.anderson.ucla.edu /x1094.xml   (954 words)

  
 Cowles Foundation - Wikipedia, the free encyclopedia
The Cowles Commission for Research in Economics is a economic research institute, founded in Colorado Springs by the businessman and economist Alfred Cowles in 1932.
In 1939, the Cowles Commission moved to the University of Chicago under the directorship of Theodore O. Yntema.
Rising hostile opposition to the Cowles Commission by the department of economics at University of Chicago during the 1950s led Koopmans to convince the Cowles family to move it to Yale University in 1955 (where it was renamed the Cowles Foundation).
en.wikipedia.org /wiki/Cowles_Foundation   (326 words)

  
 NHH - History - Influential people
One exception may be the spring semester of 1953, which he spent as a research associate at the Cowles Commission for Research in Economics at the University of Chicago (at that time the leading centre in the world for the application of mathematical and statistical methods in economic research).
During the first years of his 'real' research career he wrote the first of a long series of seminal papers, which were to put him on the map as one of the world's leading scholars in his field.
In this way Borch brought economic theory to bear on insurance problems, thereby opening up the field considerably; and he brought the experience of reinsurance contracts to bear on the interpretation of economic theory, thereby enlivening considerably the interest for that theory.
www.nhh.no /omnhh/history/people/borch.html   (1445 words)

  
 Tjalling Koopmans, Physicist and Economist
It was created to develop methods which combined economic theory, mathematical modeling and statistics and was instrumental in the development of econometrics as a field of study.
After a few years in Colorado Springs the staff of the Cowles Commission moved it to the University of Chicago where it was when Tjalling Koopmans joinedit.
Tjalling Koopmans remained with Yale and the Cowles Foundation the rest of his academic career, serving for a period as the director of the Cowles Foundation.
www.sjsu.edu /faculty/watkins/koopmans.htm   (944 words)

  
 Cowles Foundation Monographs Series
The Cowles Foundation for Research in Economics at Yale University, established as an activity of the Department of Economics in 1955, has as its purpose the conduct and encouragement of research in economics, finance, commerce, industry, and technology, including problems of the organization of these activities.
The professional research staff are, as a rule, faculty members with appointments and teaching responsibilities in the Department of Economics and other departments.
In 1955 the professional research staff of the Commission accepted appointments at Yale and, along with other members of the Yale Department of Economics, formed the research staff of the newly established Cowles Foundation.
yalepress.yale.edu /yupbooks/SeriesPage.asp?series=23   (168 words)

  
 Purpose of the Cowles Foundation   (Site not responding. Last check: 2007-10-11)
The Cowles Foundation for Research in Economics at Yale University has as its purpose the conduct and encouragement of research in economics and related fields.
Members of the Cowles research staff are, as a rule, faculty members with appointments and teaching responsibilities in the Department of Economics and other departments.
The Cowles Foundation continues the work of the Cowles Commission for Research in Economics, founded in 1932 by Alfred Cowles at Colorado Springs.
cowles.econ.yale.edu /about-cf/index.htm   (407 words)

  
 Herbert A. Simon: Artificial Intelligence Pioneer
HERBERT A. This Nobel Laureate in Economics known "for his pioneering research in the decision-making process within economic organizations," was a member of the First Unitarian Church of Pittsburg, PA beginning in 1955.
The research assistantship led to the directorship, from 1939 to 1942, of a research group at the University of California, Berkeley, engaged in the same kinds of studies.
Research on problem solving, using the Tower of Hanoi puzzle as the laboratory task, 1969.
www.harvardsquarelibrary.org /unitarians/simon.html   (1830 words)

  
 The International Center for Finance at the Yale School of Management
Cowles Data - The COWLES COMMISSION FOR RESEARCH IN ECONOMICS is a not-for-profit corporation, founded in 1932 for the purpose of conducting and encouraging investigations into economic problems.
The purpose of Cowles Commission common-stock indexes is to portray the average experience of those investing in these securities in the United States from 1871 to 1938.
New York Stock Exchange Project - The NYSE History Research Project is an on-going research effort by the International Center for Finance to collect price and dividend information on NYSE stocks from the beginning of the exchange to the present, for analysis of long-term trends and performance.
icf.som.yale.edu /financial_data/historicaldsets.shtml   (415 words)

  
 Research Report, 1932-1941
For these reasons, the Commission is deferring its long-range program, directed to the analysis of factors determining rates of investment and ultimately to a consideration of the obstacles to full employment of productive resources, and is devoting its energies, in so far as they can be efficiently used, to a study of war price controls.
At the invitation of the Director of the Financial Research Program of the National Bureau, the Cowles Commission is joining in a survey of the possibilities of determining the suitability of common stocks for investment by insurance companies.
Since the Cowles Commission had moved to Chicago its library and laboratory facilities were no longer available to participants, but a temporary office was opened in Palmer Hall to handle the details of the conference.
www.econ.yale.edu /cowles/reports/rpt32-41/rpt.htm   (3175 words)

  
 [No title]
The Cowles Commission for Research in Economics was founded in 1932 by Alfred Cowles in collaboration with a group of economists, mathematicians, and statisticians who were concerned with applying quantitative techniques to economics and related social sciences.
of economic theory in its relation to mathematics and statistics." The Cowles Commission was formally chartered as a not-for-profit corporation in Colorado on September 9, 1932.
To celebrate the first fifty years of the Cowles research organization’s contributions, the Cowles Foundation invited four distinguished economists to prepare essays on the various areas in which research at Cowles has been concentrated.
cowles.econ.yale.edu /archive/events/50th/index.htm   (308 words)

  
 Praxeology: The Methodology of Austrian Economics by Murray N. Rothbard
Too large a proportion of recent "mathematical" economics are mere concoctions, as imprecise as the initial assumptions they rest on, which allow the author to lose sight of the complexities and interdependencies of the real world in a maze of pretentious and unhelpful symbols.
To the economic historian, economic law is neither confirmed nor tested by historical facts; instead, the law, where relevant, is applied to help explain the facts.
In our view, pure economics is a perfect example of an objective meaning-complex about subjective meaning-complexes, in other words, of an objective meaning-configuration stipulating the typical and invariant subjective experiences of anyone who acts within an economic framework.
www.lewrockwell.com /rothbard/rothbard38.html   (6451 words)

  
 The Earth Institute at Columbia University   (Site not responding. Last check: 2007-10-11)
He was a Research Associate of the Cowles Commission for Research in Economics (1947-9) and taught at the University of Chicago, Harvard University, and Stanford University, from which he retired in 1991.
His research interests have covered welfare and development economics; the economics of technological change; population, environmental, and resource economics; the theory of games; and the economics of undernutrition.
Palmer's early research (D.Phil Oxford) was in general relativity theory — his academic grandfather was Paul A.M. Dirac — but most of his recent professional research lies in the area of predictability of weather and climate, and has published extensively on both theoretical and practical perspectives.
www.earthinstitute.columbia.edu /about/eab.html   (3241 words)

  
 Nobel Laureate Kenneth Arrow discusses economics of new malarial drugs, Oct. 21
Free and open to the public, the discussion is sponsored by the Undergraduate Economics Association, the Center for Interdisciplinary Studies and Department of Economics in Arts and Sciences.
Arrow conducted research at the Cowles Commission for Research in Economics at Chicago before becoming a professor of economics at Stanford.
Arrow, a longtime professor of economics at Stanford University and influential policy advisor, recently chaired a National Institute of Medicine committee that issued a report on the global war on malaria.
news-info.wustl.edu /news/page/normal/5964.html   (845 words)

  
 About RAND | History | The Nobel Prize and RAND
The research that earned Markowitz the Nobel Prize involved his “portfolio theory,” which sought to prove that a diversified, or “optimal,” portfolio—that is, one that mixes assets so as to maximize return and minimize risk—could be practical.
Recognized for his work on economic growth at Yale's Cowles Foundation in the 1960s, Phelps is best known for introducing in the late '60s an expectations-based microeconomics into the theory of employment determination and price-wage dynamics.
Smith taught and did research at Purdue University (1955–67), Brown University (1967–68), the University of Massachusetts (1968–75), Caltech (1973–75), and the University of Arizona (1975–2001), where he was Regents' Professor of Economics from 1988.
www.rand.org /about/history/nobel   (4641 words)

  
 Renzo Piano - Biography & Achievements
In 1942 he became an instructor in economics and statistics at the Bard College, which was then a residential college of Columbia University.
However he remained in Chicago through the academic year 1949-50 greatly benefiting from the Cowles Commission as this was staffed and visited by many great luminaries including Marschak, Koopmans, Arrow and Simon.
He was one of the pioneers in developing economic theories, which have stood the test of time.
www.ultimateitaly.com /peoples/franco-modigliani.html   (1482 words)

  
 Koopmans biography
Koopmans was appointed as a lecturer at the Netherlands School of Economics, Rotterdam, in 1936 where he spent a couple of years as a colleague of Tinbergen before moving to the League of Nations in Geneva.
In this 1944 work he initiated the topic of operational research called 'activity analysis' for which he received (jointly with Kantorovich) the Nobel Prize in Economics for 1975.
He was appointed as Alfred Cowles Professor of Economics at Yale and held this post until he retired in 1980.
www-groups.dcs.st-and.ac.uk /~history/Biographies/Koopmans.html   (1211 words)

  
 01.05.2005 Economics Nobel Prize winner Gerard Debreu dies
Fellow Nobel laureate and Stanford University economics professor Kenneth Arrow said he and Debreu found themselves independently researching similar economic ideas in the early 1950s, which eventually led to a joint paper in 1954 on the existence of equilibrium in an economy.
Debreu became interested in economics in 1945 after reading a book that described the mathematical theory of general economic equilibrium that was founded by Leon Walras from 1874-77.
Debreu joined the UC Berkeley faculty in 1962 at a time when the economics department was pointedly building up its staff to create a powerhouse that would soon be recognized as one of the pre-eminent economic departments in the academic world.
www.berkeley.edu /news/media/releases/2005/01/05_debreu.shtml   (1271 words)

  
 Access: Nobel Laureate to Discuss Relation Between Stock, Bond Markets
In addition, during that time, Cowles himself assisted researchers at the Colorado Foundation for Research in Tuberculosis to apply statistical methods to questions regarding the effects of climate on pulmonary tuberculosis.
In 1939, the commission moved to the University of Chicago; in 1955 it moved again -- to Yale University, where it was renamed the Cowles Foundation for Research in Economics at Yale University.
Although the focus of its research has changed as economic conditions and research methods have changed, the commission continues to investigate economic theory in its relation to mathematics and statistics.
www.coloradocollege.edu /publications/access/oct1997/Nobel.html   (736 words)

  
 Gerard Debreu; Nobel Prize-winning economist; 83 | The San Diego Union-Tribune
Gerard Debreu, winner of the 1983 Nobel Prize in economic sciences for his research on the balance of supply and demand, died Dec. 31 in Paris.
From 1950 to 1960, Dr. Debreu was associated with the Cowles Commission for Research in Economics at the University of Chicago; he was later at Yale University, serving as an associate professor.
He joined the faculty at Berkeley in 1962, where he was a professor of economics and mathematics until his retirement in 1991.
www.signonsandiego.com /uniontrib/20050114/news_1m14debreu.html   (488 words)

  
 UCLA School of Public Policy and Social Research
The commission was charged with making recommendations for balanced conservation and development of the Santa Monica Mountains and adjacent shoreline.
He was also the city's representative to, and the chairman of, the Santa Monica Mountains Comprehensive Planning Commission, created by state legislation to prepare plans and recommendations to the Legislature for future development of the mountains.
He was a research assistant with the Cowles Commission for Research in Economics and an instructor in social science at the University of Chicago.
www.sppsr.ucla.edu /faculty/snr_fell/pages/braude.cfm   (552 words)

  
 California Alumni Association at UC Berkeley   (Site not responding. Last check: 2007-10-11)
Debreu won the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1983 for applying mathematical rigor to the fundamental theory of supply and demand in economics.
Kenneth Arrow, a Stanford University economics professor and fellow Nobel laureate, said they each found themselves independently researching similar economic ideas in the early 1950s, which eventually led to a joint paper in 1954 on the existence of equilibrium in an economy.
He was also an economic adviser to several governments and toured extensively in Europe to lecture on economic theory.
www.alumni.berkeley.edu /Alumni/Cal_Monthly/May_2005/In_Memoriam.asp   (914 words)

  
 RMT 11:4 Quotations   (Site not responding. Last check: 2007-10-11)
Georg Rasch's first visit to Chicago occurred in 1947, as a guest of the Cowles Commission for Research on Economics.
The Commission was launched in 1932 by Alfred Cowles, an investment counsellor concerned about improving the accuracy of stock market forecasting.
They made a comparative study of problems arising from the specification of models: a multivariate model designed for the study of human metabolism; a model designed for the analysis of mental aptitudes; and an econometric model of the type employed by the Cowles Commission in its economic research.
www.rasch.org /rmt/rmt114k.htm   (310 words)

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