IDEAS home Printed from https://ideas.repec.org/a/rjr/romjef/vy2014i1p5-14.html
   My bibliography  Save this article

Lawrence R. Klein and the Economic Forecasting – A Survey

Author

Listed:
  • Hall, Stephen George

    (Department of Economics, Leicester University, UK)

  • Roudoi, Andrei

    (IHS Global Insight, USA)

  • Albu, Lucian Liviu

    (Institute for Economic Forecasting, Romanian Academy)

  • Lupu, Radu

    (Institute for Economic Forecasting, Romanian Academy)

  • Calin, Adrian Cantemir

    (Institute for Economic Forecasting, Romanian Academy)

Abstract

Lawrence Robert Klein played a fundamental role in the genesis and development of econometric applications and forecasting. The work dedicated to forecasting earned him the 1980 Nobel Prize in Economic Sciences "for the creation of econometric models and their application to the analysis of economic fluctuations and economic policies”. His pioneering initiatives and his research that spanned over almost 70 years make L. R. Klein one of the key figures in macroeconomics and econometrics.

Suggested Citation

  • Hall, Stephen George & Roudoi, Andrei & Albu, Lucian Liviu & Lupu, Radu & Calin, Adrian Cantemir, 2014. "Lawrence R. Klein and the Economic Forecasting – A Survey," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(1), pages 5-14, March.
    • Handle: RePEc:rjr:romjef:v::y:2014:i:1:p:5-14
    as

    Download full text from publisher

    File URL: http://www.ipe.ro/rjef/rjef1_14/rjef1_2014p5-14.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Klein, Lawrence R. & Özmucur, Süleyman, 2010. "The use of consumer and business surveys in forecasting," Economic Modelling, Elsevier, vol. 27(6), pages 1453-1462, November.
    2. Michel De Vroey & Pierre Malgrange, 2012. "From The Keynesian Revolution to the Klein-Goldberger model: Klein and the dynamization of Keynesian theory," History of Economic Ideas, Fabrizio Serra Editore, Pisa - Roma, vol. 20(2), pages 113-136.
    3. Kanta Marwah & Lawrence Klein, 1995. "What Are some Prospects for India's Joining the Asian Growth Process?," Carleton Economic Papers 95-04, Carleton University, Department of Economics, revised 1996.
    4. Lawrence R. Klein, 1951. "Studies in Investment Behavior," NBER Chapters, in: Conference on Business Cycles, pages 233-318, National Bureau of Economic Research, Inc.
    5. Klein, L. R., 2004. "China and India: Two Asian Economic Giants, Two Different Systems," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(1).
    6. Klein, Lawrence R., 1998. "Money and financial markets in Asian economies: A challenge to Asian Industrialization," Journal of Asian Economics, Elsevier, vol. 9(1), pages 1-11.
    7. Klein, Lawrence R., 2009. "Measurement of a shift in the world's center of economic gravity," Journal of Policy Modeling, Elsevier, vol. 31(4), pages 489-492, July.
    8. Lawrence R. Klein & T. Palanivel, 2000. "Economic Reforms and Growth Prospects in India," ASARC Working Papers 2000-03, The Australian National University, Australia South Asia Research Centre.
    9. Lawrence Klein, 2003. "Some Potential Linkages for Input-Output Analysis with Flow-of-Funds," Economic Systems Research, Taylor & Francis Journals, vol. 15(3), pages 269-277.
    10. Lawrence R. Klein, 1947. "Theories of Effective Demand and Employment," Journal of Political Economy, University of Chicago Press, vol. 55(2), pages 108-108.
    11. Lawrence R. Klein, 1964. "A Postwar Quarterly Model: Description and Applications," NBER Chapters, in: Models of Income Determination, pages 11-57, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. De Vroey Michel & Duarte Pedro Garcia, 2013. "In search of lost time: the neoclassical synthesis," The B.E. Journal of Macroeconomics, De Gruyter, vol. 13(1), pages 965-995, January.
    2. Erich Pinzón Fuchs, 2014. "Econometrics as a Pluralistic Scientific Tool for Economic Planning: On Lawrence R. Klein's Econometrics," Documents de travail du Centre d'Economie de la Sorbonne 14080, Université Panthéon-Sorbonne (Paris 1), Centre d'Economie de la Sorbonne.
    3. Michel De Vroey & Pierre Malgrange, 2012. "Klein et l’émergence de la modélisation macroéconomique," Économie et Statistique, Programme National Persée, vol. 451(1), pages 21-30.
    4. Felipe, Jesus & Laviña, Editha & Fan, Emma Xiaoqin, 2008. "The Diverging Patterns of Profitability, Investment and Growth of China and India During 1980-2003," World Development, Elsevier, vol. 36(5), pages 741-774, May.
    5. Ignazio Visco, 2005. "From theory to practice in macroeconomic models: post-Keynesian eclecticism," Banca Nazionale del Lavoro Quarterly Review, Banca Nazionale del Lavoro, vol. 58(233-234), pages 67-90.
    6. Ignazio Visco, 2005. "From theory to practice in macroeconomic models: post-Keynesian eclecticism," BNL Quarterly Review, Banca Nazionale del Lavoro, vol. 58(233-234), pages 67-90.
    7. Pulido San Román, Antonio & Pérez García, Julián, 2006. "Lawrence R. Klein and Applied Economics/Lawrence R. Klein y la economía aplicada," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 24, pages 43-94, Abril.
    8. Kanta Marwah & Akbar Tavakoli, 2004. "The Effect of Foreign Capital and Imports on Economic Growth: Further Evidence from Four Asian Countries," Carleton Economic Papers 04-02, Carleton University, Department of Economics.
    9. Gossé, Jean-Baptiste & Guillaumin, Cyriac, 2013. "L’apport de la représentation VAR de Christopher A. Sims à la science économique," L'Actualité Economique, Société Canadienne de Science Economique, vol. 89(4), pages 309-319, Décembre.
    10. Chaitanya, K., 2004. "Indian Economy in the Next Five Years: Key Issues and Challenges, 2005-2009," Applied Econometrics and International Development, Euro-American Association of Economic Development, vol. 4(4).
    11. Zhang, Yan & Zheng, Hongmei & Yang, Zhifeng & Su, Meirong & Liu, Gengyuan & Li, Yanxian, 2015. "Multi-regional input–output model and ecological network analysis for regional embodied energy accounting in China," Energy Policy, Elsevier, vol. 86(C), pages 651-663.
    12. Krishna Chaitanya, & Emilia Vazquez Rozas, 2008. "Are Emerging Economies Fdi Inflows Cointegrated With Fdi Inflows Of China? ??? An Empirical Investigation," William Davidson Institute Working Papers Series wp904, William Davidson Institute at the University of Michigan.
    13. Oscar Claveria & Enric Monte & Salvador Torra, 2017. "A new approach for the quantification of qualitative measures of economic expectations," Quality & Quantity: International Journal of Methodology, Springer, vol. 51(6), pages 2685-2706, November.
    14. Heinz König, 1971. "Makroökonometrische Modelle: Ansätze, Ziele, Probleme," Swiss Journal of Economics and Statistics (SJES), Swiss Society of Economics and Statistics (SSES), vol. 107(III), pages 546-578, September.
    15. Aurélien Goutsmedt & Erich Pinzon-Fuchs & Matthieu Renault & Francesco Sergi, 2015. "Criticizing the Lucas Critique: Macroeconometricians' Response to Robert Lucas," Post-Print halshs-01179114, HAL.
    16. Mauro Boianovsky, 2002. "Patinkin, the Cowles Commission, and the theory of unemployment and aggregate supply," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 9(2), pages 226-259.
    17. Dutta, M., 2003. "China's economic presence: Asian economic community," Journal of Asian Economics, Elsevier, vol. 14(4), pages 581-592, August.
    18. Manop Udomkerdmongkol & Sra Chuenchoksan & Nutthikarn Vorasa-ngasil, 2010. "Investment in Thailand: How to unleash the new investment cycle?," Working Papers 2010-05, Monetary Policy Group, Bank of Thailand.
    19. Kaufmann, Daniel & Scheufele, Rolf, 2017. "Business tendency surveys and macroeconomic fluctuations," International Journal of Forecasting, Elsevier, vol. 33(4), pages 878-893.
    20. Guisan, Maria-Carmen & Exposito, Pilar, 2004. "The Impact of Industry and Foreign Trade on Economic Growth in China. An Inter-Sectoral Econometric Model, 1976-2002," Economic Development 76, University of Santiago de Compostela. Faculty of Economics and Business. Econometrics..

    More about this item

    Keywords

    Lawrence R. Klein; econometric model building;

    JEL classification:

    • B30 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals - - - General
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:rjr:romjef:v::y:2014:i:1:p:5-14. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Corina Saman (email available below). General contact details of provider: https://edirc.repec.org/data/ipacaro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.