Lawrence R. Klein and the Economic Forecasting – A Survey

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.