Lawrence Klein
| Lawrence Klein | |
|---|---|
 |
|
| Born |
September 14, 1920 Omaha, Nebraska, U.S. |
| Died | October 20, 2013 (aged 93) Gladwyne, Pennsylvania, U.S. |
| Nationality | United States |
| Institution |
Univ. of Pennsylvania University of Oxford University of Michigan NBER Cowles Commission |
| Field |
Macroeconomics Econometrics |
| School or tradition |
Neo-Keynesian economics |
| Alma mater |
MIT (Ph.D.) UC Berkeley (B.A.) |
| Doctoral advisor |
Paul Samuelson |
| Doctoral students |
Arthur Goldberger E. Roy Weintraub |
| Influences | Jan Tinbergen |
| Contributions | Macroeconometric forecasting models |
| Awards |
John Bates Clark Medal (1959) Nobel Memorial Prize in Economic Sciences (1980) |
| Information at IDEAS / RePEc | |
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.
Klein was born in Omaha, Nebraska, the son of Blanche (née Monheit) and Leo Byron Klein. He went on to graduate from Los Angeles City College, where he learned calculus; the University of California, Berkeley, where he began his computer modeling and earned a B.A. in Economics in 1942; he earned his Ph.D. in Economics at the Massachusetts Institute of Technology (MIT) in 1944, where he was Paul Samuelson's first doctoral student.
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