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Lives of the LaureatesTwenty-three Nobel Economists$
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Roger W. Spencer and David A. Macpherson

Print publication date: 2014

Print ISBN-13: 9780262027960

Published to MIT Press Scholarship Online: May 2015

DOI: 10.7551/mitpress/9780262027960.001.0001

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Lawrence R. Klein

Lawrence R. Klein

(p.1) Lawrence R. Klein
Lives of the Laureates

Roger W. Spencer

David A. Macpherson

The MIT Press

This chapter recounts Lawrence R. Klein's story. Klien received the Nobel Prize in 1980. Klien was born in 1920, studied in Berkeley, and was a scholar at MIT. He worked with Paul Samuelson; and he pushed for the greater acceptance of macroeconomics in the academic world. He also worked on researching methodologies using the mathematical method. In Ottawa, he put together the first model of the Canadian economy. Back in the U.S, he worked on the Klein-Goldberger model using computers for estimation. His other work involved the Oxford model which was focused on numerical presentations and on the creation of a model of the American economy improving upon the earlier Klien-Goldberger model. Among the books he wrote or collaborated on include An Econometric Model of the United States and Econometric Models as Guides for Decision Making.

Keywords:   Lawrence R. Klein, Klein-Goldberger model, Paul Samuelson, mathematical method, Oxford model

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