I have always believed that people have misjudged the accuracy of economic forecasting... During the 1980s and 1990s, I researched and applied method… - Lawrence Klein

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I have always believed that people have misjudged the accuracy of economic forecasting... During the 1980s and 1990s, I researched and applied methods of high frequency economic forecasting, to be used by themselves, and for objective establishment of initial conditions for longer range forecasts from structural dynamic models that carry forward the pioneering contributions of Jan Tinbergen.

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About Lawrence Klein

Lawrence Robert Klein (4 September 1920 – 20 October 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.

Also Known As

Native Name: Lawrence Robert Klein
Alternative Names: Lawrence R. Klein
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Additional quotes by Lawrence Klein

In the past few years there has grown up a large group of young economists who have accepted the theoretical doctrines of the Keynesian Revolution and who have come into national prominence through their support of an economic policy of full employment.
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