Kmenta received 24 academic honors, awards, and prizes during his career, beginning with being made a fellow of the American Statistical Association in and a fellow of the Econometric Society in , and stretching through when he received the NEURON Award for Lifetime Achievement in Economics. He edited two books with James B. A wide-ranging econometrician, his papers analyze topics as disparate as small sample properties of estimators, missing observations, estimation of production function parameters, and ridge regression among many others. As a result, his work is referenced in publications in medicine, political science, insurance underwriting, antitrust litigation, and energy issues, to list but a few. Oberhofer formally established conditions for validity of the iterative estimation method most widely used in econometrics today, while his simplified estimation of the constant elasticity of substitution constant elasticity of substitution production function both gave "the nascent field of industrial organization a new set of powerful tools for studying firm efficiency"  and has been used to analyze the cost of network infrastructure,  among many other applications.
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Users have included undergraduate and graduate students of economics and business, and students and researchers in political science, sociology, and other fields where regression models and their extensions are relevant. The book has also served as a handy reference in the "real world" for people who need a clear and accurate explanation of techniques that are used in empirical research.
Throughout the book the emphasis is on simplification whenever possible, assuming the readers know college algebra and basic calculus. Jan Kmenta explains all methods within the simplest framework, and generalizations are presented as logical extensions of simple cases.
And while a relatively high degree of rigor is preserved, every conflict between rigor and clarity is resolved in favor of the latter. The book consists of two parts, which could be considered jointly or separately.
Part one covers the basic elements of the theory of statistics and provides readers with a good understanding of the process of scientific generalization from incomplete information. Part two contains a thorough exposition of all basic econometric methods and includes some of the more recent developments in several areas.
Researchers in the social sciences will find it an invaluable reference tool. A solutions manual is also available for teachers who adopt the text for coursework.
Elements of econometrics
If you originally registered with a username please use that to sign in. Keep things as simple as possible. Receive exclusive offers and updates from Oxford Academic. You could not be signed in. PragueCzech Republic. But the employment officer in Sydney would not allow an emigrant to have a job like that and instead sent him to a metal-stamping plant in Balmain. As econometrics matured from a collection of clever solutions for specific problems into its own major field of research, econometricians worked to integrate what was known into a systematic whole greater than the sum of its parts.