What Does a Econometrician Do?

Liu Dazhong (1914-1975), a famous econometrician, is the only Chinese scholar whose biography is included in the New Palgrave Dictionary of Economics.

Liu Dazhong

(Famous Econometrician)

Liu Dazhong (1914-1975), a famous econometrician,

1932-3936 Tangshan Institute of Technology, Jiaotong University

In 1941, the 27-year-old Liu Dazhong was in "

"The realistic goal must not be just to stabilize the currency." Although Liu Dazhong is overseas, his best research is statistical analysis of the actual economic situation, coupled with his deep understanding of Chinese nationality, so the supply-demand relationship on the black market is accurately decomposed Into twelve types, and analyze their impact on the real exchange rate between China and the United States. The wartime economy is a special economy, and it is almost impossible to discuss it with mainstream equilibrium analysis methods in textbooks. Liu Dazhong's approach is refreshing. Moreover, Liu Dazhong also tried to provide solutions to the real economic chaos in China, or to provide a roughly stable and reliable alternative to the wartime economy. He pointed out that the realistic goal must not be merely to stabilize the currency, but to take greater overall consideration. This article by Liu Dazhong has aroused great repercussions in the world economics community. From the beginning, Liu Dazhong's academic fate was destined to draw a new economic blueprint on the chaos and even the ruins. ^[1]

The fundamental reason for Taiwan's outstanding economic achievements after the war is that it has relaxed its foreign exchange control and adopted an economic development route for export expansion from the late 1950s to the early 1960s. Behind this are the visions and persistences of several free economists including Jiang Shuojie, Gu Yingchang, Liu Dazhong, Xing Muhuan, Fei Jinghan, and Zou Zhizhuang. ^[2] (Comment by Jiang Shuojie)