With its focus on econometrics, this second volume contains key papers delivered at the Fifth World Congress in 1985.

The Econometric Society holds a World Congress every five years. The programme of these congresses has traditionally included a series of invited symposia, where speakers survey important recent advances in economic theory and econometrics. These two volumes, with their focus on econometrics, and their companion volume on economic theory, contain papers delivered at the Fifth World Congress held in 1985. Designed to make material accessible to a general audience of economists, these papers should be helpful to anyone with training in economics who wishes to follow new ideas and tendencies in the subject. Advances in Econometrics: Fifth World Congress, Volumes I and II, edited by Professor Truman F. Bewley of Yale University, include a wide variety of topics, comprising empirical and policy oriented subjects as well as theoretical and methodological ones.

9. Econometric metaphors Edward E. Leamer
10. Econometric methodology: a personal perspective David F. Hendry
11. Making economics credible Christopher A. Sims
12. The empirical analysis of tax reforms Mervyn A. King
13. Tests for liquidity constraints: a critical survey and some new observations Fumio Hayashi
14. Life-cycle models of consumption: is the evidence consistent with the theory? Angus Deaton
15. A framework for relating microeconomic and macroeconomic evidence on intertemporal substitution Thomas E. MaCurdy
16. The short run behavior of labor supply Stephen J. Nickell
17. Some pitfalls in applied general equilibrium modelling Jean Waelbroeck
18. Operationalising Walras: experience with recent applied general equilibrium tax models John Whalley.