Lawrence Robert Klein (born the September 14th 1920) is an American economist.

Klein was born with Omaha in the Nebraska. It is originating in an Jewish family. For its data-processing models, used to evaluate the economic tendencies, like for its econometric work carried out with the University of Pennsylvania, it was rewarded for the " Nobel Prize of économie" in 1980. The jury of the royal Bank of Sweden, rewarded in priority his work on the economic models, as their application to the analysis of the fluctuations and the economic policies. In 1959 it also received the Medal John Packsaddlled Clark

Course and contributions to the economy

Klein is graduate Los Angeles City College. It develops then data-processing models with the Université of Berkeley in California. Thereafter, it off obtains the rank of PhD to the Massachusetts Institute Technology in 1944.

It integrates the Cowles Commission for Research in Economics, at the time, attached to the Université of Chicago. It is at this time that it builds a model of the economy of the United States which makes it possible to envisage the development of the economic fluctuations and to study the effects of the governmental economic policies. After the Second world war, Klein uses this model to correctly predict the recession which makes following the end of the war of Korea.

With the University of Michigan, Klein develops macro-economic models, in particular the famous Klein-Goldberger model with Arthur Goldberger.

Klein goes then in England in 1954. This departure is explained by the policy anticommunist of the senator Joseph McCarthy. However, Klein was member of the Communist party of the United States of America in 1946 and 1944. He will regard later this engagement as a mistake of youth.

In England, Klein develops a model of the economy of the the United Kingdom with the Université of Oxford. Then, it goes back to the United States in 1958 where it joined the Department of economy of the University of Pennsylvania. With the beginning of the year 1960, Klein becomes the leader of the " project; Brookings-SSRC" , the purpose of which is to build a detailed econometric model making it possible to envisage the development of the US economy to short-term.

At the end of the Sixties, it builds the " Wharton Econometric Forecasting Model". This model, considerably smaller than the Brooking model, confers to him very a good reputation in the analyzes of the economic fluctuations. It integrates parameters as varied as the rough National product, exports, the investments, consumption, and makes it possible to study the effects which occur when modifications affect taxation, the oil price, etc

In 1976, Klein was adviser near Jimmy Carter before the presidential elections. But he preferred not to join the Carter administration. He was also president of the Econometric Society and the American Economic Association

Publications

• Year essay one the theory off economic prediction (with Jaime Mark????) ISBN 0841020051

• Economic Fluctuations in the United States , 1921-41 (1950)
• Year Econometric Model off the United States , 1929-52 (with ACE Goldberger, 1955)
• The Keynesian Revolution , 1946 ISBN 0333081315
• The Wharton Econometric Forecasting Model (with MK Evans, 1967)
• has off Textbook Econometrics , 1973 ISBN 0139128328
• The Brookings Model (With Gary Fromm., 1975)
• Econometric Model Performance (1976)
• An Introduction to Econometric Forecasting and Forecasting Models , 1980 ISBN 0669028967
• Econometric Models Ace Guides for Decision Making , 1982 ISBN 0029174309
• The Economics off Supply and Demand , 1983
• Economics, Econometrics and The LINK (with Mr. Dutta, 1995) ISBN 0444817875