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Lawrence Klein
Sign in to saveAlso known as Lawrence Robert Klein, Lawrence R. Klein
American economist (1920-2013)
Lawrence Klein was an American economist who pioneered the development of large-scale mathematical models to forecast economic activity and understand how different parts of the economy interact. His work helped establish econometrics—the use of statistical methods to test economic theories—as a central tool for policymakers and researchers trying to predict and manage economic trends.
AI-generated from the Wikipedia summary — may contain errors.
Key facts
- Born
- ( 1920-09-14 ) September 14, 1920, Omaha, Nebraska , U.S.
- Died
- October 20, 2013 (2013-10-20) (aged 93), Gladwyne, Pennsylvania , U.S.
- Alma mater
- Massachusetts Institute of Technology ( PhD ), University of California, Berkeley ( BA ), Los Angeles City College ( AA )
- Doctoral advisor
- Paul Samuelson
- Influences
- Jan Tinbergen
- Discipline
- Macroeconomics , Econometrics
- School or tradition
- Neo-Keynesian economics
- Institutions
- University of Pennsylvania , University of Oxford , University of Michigan , NBER , Cowles Commission , University of Chicago
- Doctoral students
- Arthur Goldberger , Bennett Harrison , Ignazio Visco , E. Roy Weintraub , Vishwanath Pandit
- Notable ideas
- Macroeconometric forecasting models
- Awards
- John Bates Clark Medal (1959), Nobel Memorial Prize in Economic Sciences (1980)
- Website
- Information at IDEAS / RePEc
via Wikipedia infobox
Nobel Prize
- The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel1980
“for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies”
Wikidata facts
- Instance of
- human
- Given name
- Robert
- Family name
- Klein
- Gender
- male
- Citizenship
- United States
- Place of birth
- Omaha
- Place of death
- Gladwyne
- Occupation
- university teacher
- Position held
- president
- Employer
- University of Oxford
- Languages spoken
- English language
- Academic degree
- Doctor of Philosophy
- Doctoral advisor
- Paul Samuelson
- Student of
- Paul Samuelson
- Field of work
- econometrics
- Image
- Lawrence Robert Klein.jpg
Show 9 more facts
- date of birth
- 1920-09-14
- date of death
- 2013-10-20
- member of
- Econometric Society
- place of burial
- Philadelphia
- influenced by
- Michał Kalecki
- name in native language
- Lawrence Robert Klein
- Commons category
- Lawrence Klein
- maintained by WikiProject
- WikiProject Mathematics
- interested in
- economics
Sources (15)
via Wikidata · CC0
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Encyclopedic overview
Lawrence Robert Klein (September 14, 1920 – October 20, 2013) was an American economist. For his work in creating computer models to forecast economic trends in the field of econometrics in the Department of Economics at the University of Pennsylvania, he was awarded the Nobel Memorial Prize in Economic Sciences in 1980 specifically "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies." Due to his efforts, such models have become widespread among economists. Harvard University professor Martin Feldstein told the Wall Street Journal that Klein "was the first to create the statistical models that embodied Keynesian economics," tools still used by the Federal Reserve Bank and other central banks.
Life and career
Excerpted from Wikipedia’s “Lawrence Klein” article, available under the CC BY-SA 4.0 licence.