Lawrence Klein Quotes

Lawrence Robert Klein 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. Wikipedia  

✵ 14. September 1920 – 20. October 2013
Lawrence Klein: 15   quotes 0   likes

Famous Lawrence Klein Quotes

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

"Some Economic Scenarios for the 1980's," 1980

“I believe that monetary policy has a chronic defect. It is asymmetric—it works better in restraining an economy than in stimulating an economy.”

"Keynsianism Again: Interview with Lawrence Klein", Challenge (May-June 2001)

Lawrence Klein Quotes

“From Keynes' point of view the economic system, before the war failed in its solution of the unemployment problem”

The Keynesian Revolution. Vol. 19. New York: Macmillan, 1947/66. p. 166

“There are many reasons there was higher inflation in the 1970s. But that is a complicated story that deals with much more than tax policies.”

"Keynsianism Again: Interview with Lawrence Klein", Challenge (May-June 2001)

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