When and where was Lawrence Klein born?
Lawrence Robert Klein entered the world on the 14th of September 1920 in Omaha, Nebraska.
Questions about Lawrence Klein
Short answers, pulled from the story.
What major economic model did Lawrence Klein create at the University of Pennsylvania?
Lawrence Klein constructed the Wharton Econometric Forecasting Model during the late 1960s to analyze business conditions including national product exports investments and consumption. He also founded Wharton Econometric Forecasting Associates or WEFA now Global Insight in 1969 which launched the econometric forecasting industry in the United States.
Why was Lawrence Klein denied tenure at the University of Michigan?
Lawrence Klein was denied tenure at the University of Michigan because his brief membership in the Communist Party became public knowledge during the McCarthy era. This political climate forced him away from American academia temporarily but he continued his modeling efforts elsewhere.
How did Lawrence Klein contribute to global economics through the LINK project?
Lawrence Klein initiated and led the LINK project as a consortium of model builders from many countries to produce the world's first global economic model linking models of many countries together. Changes in the economy of one country were reflected in others through this system until Project LINK ended operations in 2020.