Subject: Re: M-TH:NZ 
Date: Sat, 25 Oct 97 17:57:58 -0000
From: Bill Cochrane <wrc1961-AT-midland.co.nz>


Jerry,
     >I'd be interested in hearing some more about your empirical 
methodology
>and how it compares to others (e.g. Shaikh/Tonak, Cockshott/Cottrell,
>Webber/Rigby, etc.).
What I'm using is very similar to the methodology used by Moseley in his 
'The Falling Rate of Profit in the Post War United States Economy". I 
chose this particular approach as the under lying conception of value 
theory used by Moseley is close to that of Foleywho I have tended to 
follow in the past. Unfortunately NZ statistics are appauling by US 
standards and I feel that this alone will prevent me  from approaching 
the standards of accuracy achieved by Moseley.A guy called Bruce Cronin 
is engaged in a similar project using Shaikh/Tonaks methodology at 
auckland university so I'm looking forward to comparing our results.
>btw, in _what sense_ do you mean that Marxian categories are (or can be
>used as) "econometric variables"?  Also, btw, what econometric methods are
>you using?
In the very shallow sense that in the FROP, presented as a formal 
mathmatical model of  a capitalist economy, marxian categories appear as 
variables. Any econometric methodology wont go much beyond simple time 
series stuff and a bit of regression. I'm moderately hostile to using 
complex econometric methods and prefer to use simple discriptive 
techniques in a largely narrative framework.

Bill Cochrane
4 King St 
Ngaruawahia
New Zealand

Ph (07)8247722



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