At Chicago, I was in the midst of a veritable galaxy of sta… - Lawrence Klein

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At Chicago, I was in the midst of a veritable galaxy of stars: Trygve Haavelmo, Tjalling Koopmans, Theodore Anderson, Leonid Hurwicz, Herman Rubin, Kenneth Arrow, , , and Herbert Simon, among others. I completed my first of a series of macroeconometric models, solidified my understanding of econometrics, learned (through endless discussion) about the functioning of the economy, and got started on several theoretical paths such as aggregation, demand systems, and prediction.

Lawrence Klein

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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.

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Native Name: Lawrence Robert Klein

Alternative Names: Lawrence R. Klein

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Paul Krugman Robert Barro James Tobin Paul Samuelson Robert J. Gordon

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.

At the beginning of a decade it is tempting to look ahead for the next ten years.

You can lead a horse to water, but you cannot make him drink. Or monetary policy is pulling on a string when the economy is strong. That works. But when the economy is weak and you are cutting interest rates, it can be like pushing on a string. It does not work as well.

At Chicago, I was in the midst of a veritable galaxy of stars: Trygve Haavelmo, Tjalling Koopmans, Theodore Anderson, Leonid Hurwicz, Herman Rubin, K… - Lawrence Klein

About Lawrence Klein

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