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James Heckman's Contributions to Economics and Econometrics

James Heckman's Contributions to Economics and Econometrics University College, London WC1E 6BT and Institute for Fiscal Studies, London WC1E 7AE, England r.blundell@ucl.ac.uk I. Overview Heckman's contributions to Economics and Econometrics are extensive and span nearly three decades. They continue to proceed apace, stretching the boundary between econometric theory and policy evaluation, between microeconometrics and microeconomics and between statistics and econometrics. The hallmark of Heckman's contributions is a desire to link economic reasoning with the statistical analysis of observed behaviour. Never satis®ed as long as any stone remains unturned, they show a consistency of style and a strong underlying purpose. Heckman's energy and commitment to his work spill over to those he works with and those he supervises, leaving them mentally drained but intellectually stimulated, while producing a recognisable string of brilliant students and renowned joint papers. The ®eld of microeconometrics in particular has been the principal bene®ciary of Heckman's work. His initial research concerned the analysis of household decision-making, especially labour supply and consumption decisions. This work set the scene in much of the ®eld for the next 25 years and still provides the basis from which new models are developed. In these early papers we see the origination of the theoretically consistent empirical neoclassical http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png The Scandinavian Journal of Economics Wiley

James Heckman's Contributions to Economics and Econometrics

The Scandinavian Journal of Economics , Volume 103 (2) – Jun 1, 2001

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Publisher
Wiley
Copyright
The Editors of the Scandinavian Journal of Economics 2001
ISSN
0347-0520
eISSN
1467-9442
DOI
10.1111/1467-9442.00239
Publisher site
See Article on Publisher Site

Abstract

University College, London WC1E 6BT and Institute for Fiscal Studies, London WC1E 7AE, England r.blundell@ucl.ac.uk I. Overview Heckman's contributions to Economics and Econometrics are extensive and span nearly three decades. They continue to proceed apace, stretching the boundary between econometric theory and policy evaluation, between microeconometrics and microeconomics and between statistics and econometrics. The hallmark of Heckman's contributions is a desire to link economic reasoning with the statistical analysis of observed behaviour. Never satis®ed as long as any stone remains unturned, they show a consistency of style and a strong underlying purpose. Heckman's energy and commitment to his work spill over to those he works with and those he supervises, leaving them mentally drained but intellectually stimulated, while producing a recognisable string of brilliant students and renowned joint papers. The ®eld of microeconometrics in particular has been the principal bene®ciary of Heckman's work. His initial research concerned the analysis of household decision-making, especially labour supply and consumption decisions. This work set the scene in much of the ®eld for the next 25 years and still provides the basis from which new models are developed. In these early papers we see the origination of the theoretically consistent empirical neoclassical

Journal

The Scandinavian Journal of EconomicsWiley

Published: Jun 1, 2001

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