Clive Granger
Clive Granger
Sir Clive William John Grangerwas a British economist, who taught in Britain at the University of Nottingham and in the United States at the University of California, San Diego. In 2003, Granger was awarded the Nobel Memorial Prize in Economic Sciences, in recognition that he and his co-winner, Robert F. Engle, had made contributions to the analysis of time series data that had changed fundamentally the way in which economists analyse financial and macroeconomic data...
NationalityBritish
ProfessionEconomist
Date of Birth4 September 1934
On completing my degree, I started a Ph.D. in statistics, although I knew very little about the topic. My supervisor was Professor Harry Pitt, who was an excellent pure mathematician and probabilist.
As far as I could tell, I was the first person anywhere in my family tree to go to university.
I preferred to use mathematics in some practical fashion and thought that meteorology sounded promising.
I think it is true to say that I am not the first Nobel Prize winner in economics to have little formal training in economics.
Rob Engle and I are concerned with extracting useful implications from economic data, and so the properties of the data are of particular importance.
A potentially useful property of forecasts based on cointegration is that when extended some way ahead, the forecasts of the two series will form a constant ratio, as is expected by some asymptotic economic theory.
In 1973, I was offered a professorship at the University of California, San Diego. Although I was certainly not unhappy at Nottingham, I had been there over twenty years from starting undergraduate studies to Professor of Applied Statistics and Econometrics, and I thought that a change of scene was worth considering.