Lawrence Klein

Lawrence Klein
Born	(1920-09-14)September 14, 1920 Omaha, Nebraska, U.S.
Died	October 20, 2013(2013-10-20) (aged 93) Gladwyne, Pennsylvania, U.S.
Academic background
Alma mater	Massachusetts Institute of Technology (PhD) University of California, Berkeley (BA) Los Angeles City College (AA)
Doctoral advisor	Paul Samuelson
Influences	Jan Tinbergen
Academic work
Discipline	Macroeconomics Econometrics
School or tradition	Neo-Keynesian economics
Institutions	University of Pennsylvania University of Oxford University of Michigan NBER Cowles Commission University of Chicago
Doctoral students	Arthur Goldberger Bennett Harrison Ignazio Visco E. Roy Weintraub Vishwanath Pandit
Notable ideas	Macroeconometric forecasting models
Awards	John Bates Clark Medal (1959) Nobel Memorial Prize in Economic Sciences (1980)
Website	Information at IDEAS / RePEc

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Related fields Econometrics Economic statistics Monetary economics Development economics Evolutionary economics International economics
Schools Mainstream Keynesian Neo- New Monetarism New classical Real business-cycle theory Stockholm New neoclassical synthesis Saltwater and freshwater Heterodox Austrian Chartalism Modern monetary theory Ecological Post-Keynesian Circuitism Disequilibrium Marxian Market monetarism Supply-side
People François Quesnay Adam Smith Thomas Robert Malthus Karl Marx Léon Walras Knut Wicksell Irving Fisher Wesley Clair Mitchell John Maynard Keynes Alvin Hansen Michał Kalecki Gunnar Myrdal Simon Kuznets Joan Robinson Friedrich Hayek John Hicks Richard Stone Hyman Minsky Milton Friedman Paul Samuelson Lawrence Klein Edmund Phelps Robert Lucas Jr. Edward C. Prescott Peter Diamond William Nordhaus Joseph Stiglitz Thomas J. Sargent Paul Krugman N. Gregory Mankiw
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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.^[1]