Lawrence Klein
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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.
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Person · Open Library
- Born
- 1949
- Died
- 2013-10-20
- Works
- 4
Top works
- Characteristics of men, manners, opinions, times
- Comic books
- Chiropractic
- La Economia de La Oferta y La Demanda (Economia Contemporanea)
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Article
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.
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1920 births2013 deaths20th-century American economists21st-century American economistsAmerican econometriciansAmerican macroeconomistsAmerican Nobel laureatesAmerican people of German-Jewish descentDistinguished fellows of the American Economic AssociationEconomists from NebraskaFellows of the Econometric SocietyForeign members of the Russian Academy of Sciences