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Lawrence R. Klein's Mug Shot Nobel Laureate in Economic Sciences 1980
Professor Emeritus of Economics and Finance - University of Pennsylvania, USA
Director & President of Economic Policy Committee, USA

co-reason for the prize:

for the creation of econometric models and the application to the analysis of economic fluctuations and economic policies


Main Topics: econometrics; macroeconomics; international trade; payments and global economic activity through econometrics

Professional Profile: Lawrence R. Klein has served on the faculties of the University of Chicago, University of Michigan, Oxford University, and the University of Pennsylvania. He was the Benjamin Franklin Professor of Economics and Finance at Pennsylvania, where he taught for 33 years, and is now Benjamin Franklin Professor Emeritus.
Professor Klein is an econometrician and constructed several statistical models of the United States and various other countries. At Pennsylvania he founded Wharton Econometric Forecasting Associates and was a principal investigator of Project LINK which combined models from countries throughout the world for studying international trade, payments, and global economic activity. He has served as President of many learned societies, edited scholarly journals, and advised governments in matters of economic policy.
In 1976 he coordinated Jimmy Carter's economic task force in a successful campaign for Presidency of the United States. He had lectured in many universities and research centers over the world and has been awarded more than 25 honorary degrees.
He is a member of the American Academy of Arts and Sciences, the American Philosophal Society and the National Academy of Sciences. In 1980 he was the Nobel Laureate in Economics for "the creation of econometric models and the application to the analysis of economic fluctuations and economic policies".
Since 1984 he has been Director and Chairman of the Economic Policy Committee of W.P. Carey & Co.


  • B.A., University of California, Berkeley
  • Ph.D., Massachusetts Institute of Technology (MIT)



Selected Works:
  • L. Klein, K. Marwah eds, Selected Papers of Lawrence R. Klein: Theoretical Reflections and Econometric Applications, World Scientific Publishing Company, 1997
  • L. R. Klein, The Economics of Supply and Demand, 1983
  • L. R. Klein, An Introduction to Econometric Forecasting Models, with R.M. Young, 1980
  • L. R. Klein, The Brookings Model, with Gary Fromm, 1975
  • L. R. Klein, The Keynesian revolution, (2nd edition) 1966
  • L. R. Klein, Econometric Model of the United States, 1929-52, with Arthur S. Goldberger, 1955
  • L. R. Klein, Economic Fluctuations in the United States, 1921-1941, 1950