Lawrence R. Klein
Lawrence R. Klein
Lawrence Robert Kleinwas 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...
NationalityAmerican
ProfessionEconomist
Date of Birth14 September 1920
CountryUnited States of America
Lawrence R. Klein quotes about
Although I was not aware of it at the time, the experience of growing up during the Great Depression was to have a profound impact on my intellectual and professional career.
It came as a surprise to find that a professional society and journal (Econometrica) were flourishing, and I entered this area of study with great enthusiasm.
The completion of my undergraduate training at the University of California (Berkeley) provided just the needed touches of rigor at advanced levels in both economics and mathematics.
The funds from the sale were put into research and general teaching budgets at the university. Wharton Econometric Forecasting Associates, Inc., is now a growing enterprise with many model and other econometric facilities.