"Nobel Prize in Economics" Lawrence Klein Signed FDC Dated 1965 Todd Mueller COA

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Seller: historicsellsmemorabilia ✉️ (6,894) 99.5%, Location: Fort Lauderdale, Florida, US, Ships to: US & many other countries, Item: 154209803201 "Nobel Prize in Economics" Lawrence Klein Signed FDC Dated 1965 Todd Mueller COA. Up for auction the "Nobel Prize in Economics" Lawrence Klein Hand Signed First Day Cover Dated 1965. This item is certified authentic by Todd Mueller Autographs and comes with their Certificate of Authenticity.

  ES - 5574E

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.  Klein was born in Omaha, Nebraska , the son of Blanche (née Monheit) and Leo Byron Klein. He went on to graduate from Los Angeles City College , where he learned calculus ; the University of California, Berkeley , where he began his computer modeling  and earned a B.A.  in Economics in 1942; he earned his Ph.D.  in Economics at the Massachusetts Institute of Technology  (MIT) in 1944, where he was Paul Samuelson 's first doctoral student.  Klein then moved to the Cowles Commission for Research in Economics , which was then at the University of Chicago , now the Cowles Foundation . There he built a model of the United States economy  to forecast the development of business fluctuations and to study the effects of government economic-political policy. After World War II  Klein used his model to correctly predict, against the prevailing expectation, that there would be an economic upturn rather than a depression  due to increasing consumer demand from returning servicemen. Similarly, he correctly predicted a mild recession  at the end of the Korean War .Klein briefly joined the Communist Party  during the 1940s, which led to trouble years later. At the University of Michigan , Klein developed enhanced macroeconomic models , in particular the famous Klein–Goldberger model  with Arthur Goldberger , which was based on foundations laid by Jan Tinbergen  of the Netherlands , later winner of the first economics prize in 1969. Klein differed from Tinbergen in using an alternative economic theory  and a different statistical  technique. 

  • Condition: Used
  • Industry: Historical
  • Signed: Yes
  • Original/Reproduction: Original

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