Lawrence R. Klein
Lawrence R. Klein
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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