New Books: Annotated Listing
HARVEY, A. C. The econometric analysis of time se-
ries. Second edition. LSE Handbooks in Econom-
ics. Cambridge, Mass.: MIT Press, 1990. Pp. xiii,
387. ISBN 0-262-08189-X, JEL 90-1209
Afinalyear undergraduate or graduate level text-
book on the econometric analysis of time series.
This edition includes new material and revised sec-
tions. Emphasizes the understanding of the main
ideas and concepts in econometrics, rather than
rigorous proofs. Assumes the reader has had an
introductory course in matrix algebra and is famil-
iar with the basic ideas of statistical inference
and with regression. Certain key topics, such as
matrix differentiation, are dealt with in the intro-
duction and appendix. Covers regression; the
method of maximum likelihood; numerical optimi-
zation; test procedures and model selection; regres-
sion models with serially correlated disturbances;
dynamic models; and simultaneous equation
models. Includes exercises at the end of chapters.
Harvey is Professor of Econometrics at the Lon-
don School of Economics. Subject and author in-
dexes.
HENNERKES, WILHELM A. MAXDATA: A time series
database system. Berlin; New York; London and
Tokyo: Springer, 1990. Pp. xiii, 150. $35.00, paper.
ISBN 0-387-52209-3. JEL 90-1210
This handbook gives a detailed introduction to
the time series database system, MAXDATA,
which offers simple and convenient handling of vo-
luminous numerical databases on an IBM-compat-
ible personal computer. MAXDATA handles data-
base creation, management, documentation, data
export and import, database research, report,
graphics, statistics, calculation, creation of indica-
tor models, multiple regression, ex-ante and ex-
post forecasts, etc. Describes the philosophy be-
hind MAXDATA and the system itself. Provides
a summary of the MAXDATA options for the pre-
sentation of the centrally-stored data in different
viewing modes. Explains MAXDATA's central da-
tabase system and describes how MAXDATA is
installed, started, and operated. Covers the MAX-
DATA main menu, some principal MAXDATA in-
quiries and characteristics, and the various MAX-
DATA command options. Discusses possible
program errors and their causes and correction.
A demonstration diskette is available. Hennerkes
is with DSI Data Service and Information, Bhein-
berg. West Cermany. No index.
HuA, Loo-KENG AND WANG, YUAN. Popularizing
mathematical methods in the People s Republic of
China: Some personal experiences. Revised and
edited by J. C. C. HEIJMANS. Mathematical Model-
ing series, no. 2. Boston; Basel and Bedin: Birk-
1805
hauser, 1989. Pp. xxii, 209. ISBN 0-8176-3372-
3. JEL 90-1211
Based on the report Some Personal Experiences
in Popularizing Mathematical Methods in the Peo-
ple's Republic of China," presented by Hua Loo-
keng at both the Fourth International Conference
on Mathematical Methods and at Bell Laboratories
in 1980. Hua introduces some methods he helped
popularize in China for use in industrial produc-
tion—these methods are elaborated on in subse-
quent chapters, written with the participation of
Wang Yuan. Compares various methods for calcu-
lating mineral reserves and hillside areas. Dis-
cusses the solution to a meshing gear-pair problem
raised by a Chinese worker. Describes optimum
seeking methods for single- and two-variable prob-
lems. Explores the connection between numerical
integration and the golden number. Introduces
various overall planning methods that have been
successfully popularized in China: the critical path
method, the program evaluation and review tech-
nique, a method for machine scheduling, and the
graphical and simplex methods for transportation
problems. Discusses methods for solving the post-
man problem of how to determine a shortest route.
The late Hua Loo-keng was Director ofthe Mathe-
matical Institute of the Academia Sinica, Beijing,
from 1952 to 1984, and was succeeded by Wang.
No index.
MoRCAN, MARY S. The history of econometric ideas. J'-i -t
Historical Perspectives on Modern Economics. ^ T T
Cambridge; New York and Melbourne: Cambridge
University Press, 1990. Pp. xv, 296. $44.50. ISBN
0-521-37398-0. JEL 90-1212
Surveys the fundamental concepts and notions
ofthe econometric approach that were thought out
prior to 1950. ReRects the importance of applied
work in the development of econometric ideas,
where applications formed the catalyst for econo-
metricians both to recognize difficulties and to
search for solutions. Traces the evolution of econo-
metrics through the practical work on business cy-
cles, considering Jevons's sunspot and Moore's Ve-
nus theories of the business cycle; Juglar's credit
cycle, Mitchell's statistical approach, and Persons's
business barometers; the entrance of random
shocks into business cycle theory; and Tinbergen
and macrodynamic models. Discusses the evolu-
tion of market demand analysis, focusing on the
narrowing of the data—theory gap in demand analy-
sis and the evolution of identification questions.
Examines the development of forrtial models in
econometrics, especially errors-in-variables and er-
rors-in-equations models and Haavelmo's probabil-
ity model. An outgrowth of the author's doctoral
dissertation at the London School of Economics
 1806 Journal of Economic Literature
(1984). Morgan is a Lecturer in the Department
of Economic History at the London School of Eco-
nomics. Index.
TuRVEY, RALPH. Consumer price indices: An ILO
manual. With contributions by D. J. SELLWOOD
ET AL. Ceneva: International Labour Office, 1989.
Pp. xii, 186. $19.25, paper. ISBN 92-2-106436-
0- JEL 90-1213
A manual for practicing statisticians who have
to construct or revise a consumer price index. Re-
flects the standards adopted by the Fourteenth In-
ternational Conference of Labour Statisticians in
the resolution concerning consumer price indices,
but goes beyond this document in detail. Reviews
the purposes and nature of consumer price indices.
Examines the major choices made in designing an
index that depend on the purposes of the index.
Discusses the choice and weighting of elementary
aggregates, and sampling within elementary aggre-
gates. Examines the calculation of the elementary
price indices using the sample price data. Dis-
cusses computation of the index; sources of error;
and publication of the index. Appendices contain
the resolution concerning consumer prices indices
adopted by the Fourteenth International Confer-
ence of Labour Statisticians and seven articles (one
in French with an English summary) reprinted
from the ILO Bulletin of Labour Statistics that
discuss the measurement of liability insurance pre-
mium trends and their inclusion in the French
consumer price index; adjusting the consumer
price index for indirect taxes; reduction of errors
in a consumer price index; the treatment of finance-
related commodities in a consumer price index;
the pricing of new vehicles in the Australian Con-
sumer price index; price indices below the basic
aggregation level; and the treatment of seasonal
fresh fruit and vegetables in the consuemr price
index. Turvey is Director of the Labour Informa-
tion and Statistics Department ofthe International
Labour Organisation. Index.
VERHULST, FERDINAND. Nonlinear differential equa-
tions and dynamical systems. Translation. New
York; Berlin; London and Tokyo: Springer, 1990.
Pp. ix, 277. $22.00, paper. ISBN 0-387-50628-4.
JEL 90-1214
A textbook on both the qualitative and quantita-
tive aspects of nonlinear differential equations and
dynamical systems written to bridge the gap be-
tween elementary courses and the modern re-
search literature in this field. Originally published
in Dutch in 1985 under the title Nietlineaire Differ-
entiaalvergelijkingen en Dynamische Systemen.
The English version contains a number of correc-
tions and some extensions. Discusses autonomous
equations; critical points; periodic solutions; the
theory of stability; linear equations; stability by
linearization; stability analysis by the direct
method; perturbation theory; the Poincar6-Lind-
stedt method; the method of averaging; relaxation
oscillations; bifurcation theory; chaos; and Hamilto-
nian systems. Includes examples and exercises.
Verhulst is with the Department of Mathematics,
University of Utrecht, the Netherlands. Index.
See also: Book numbers JEL 90-1080, 90-1313
220 ECONOMIC AND SOCIAL STATISTICAL DATA
AND ANALYSIS
CHAUDHURI, PRAMIT. Economic theory of growth.
Ames: Iowa State University Press, 1989. Pp. viii,
181. $19.95. ISBN 0-813&-0627-5.
JEL 90-1215
Explains, at an elementary level, how economic
theory can be used to gain understanding of the
process of growth and change. Material is kept as
nonmathematical and nontechnical as possible.
Concerned with the following questions: is growth
proportional; is economic growth stable or unsta-
ble; is growth terminal; and who benefits from eco-
nomic growth? Reviews the contributions to
growth theory made by Adam Smith, David Ri-
cardo, Karl Marx, Roy Harrod, and Joseph Schum-
peter. Discusses some of the assumptions and im-
plications of the neoclassical view of the process
of economic growth. Explores aspects of economic
growth that different theories have addressed, cov-
ering linkages that may exist between sectors of
the economy and their implications for growth;
technical progress; the impact of foreign trade on
growth; and the relationship between growth and
income distribution. Chaudhuri is Reader in Eco-
nomics at the School of African and Asian Studies,
University of Sussex. Bibliography; author and sub-
ject indexes. . ^
DAVIDSON, PAUL AND KREGEL, JAN, eds. Macroeco- Ini
nomic problems and policies of income distribu- ' ^
tion: Functional, personal, international. Aider-
shot, U.K.: Elgar; Brookfield, Vt.: Cower, 1989.
Pp. 292. $47.95. ISBN 1-85278-206-4.
JEL 90-1216
Eighteen papers discuss the current problems
of income distribution in various nations around
the world. Papers explore the implications of
macrodistribution of personal income; the effects
of monetary policy on income distribution; Keynes,
income distribution, and income policy; public
debt and the size distribution of income; increasing
inequality in the United States; poverty, affiuence,
and the income cost of children; macroeconomic
conditions and the size distribution of income in
the United Kingdom; the welfare state in a program