Lawrence Klein, the University of Pennsylvania economist who won the 1980 Nobel Prize for his computer-based models that help governments forecast the future and act accordingly, died Sunday at his ...

Spatial econometrics addresses the challenges posed by spatially correlated data, enabling researchers to understand and quantify how economic phenomena in one location can influence those in ...

Conventional tests for composite hypotheses in minimum distance models can be unreliable when the relationship between the structural and reduced-form parameters is highly nonlinear. Such nonlinearity ...

This article appears in the April 2023 issue of The American Prospect magazine. Subscribe here. Economics is commonly described as the science of scarcity. We have limited resources, and we have to ...

Eureka moments are rare in all fields, not least in economics.1 One such moment came to me when I was an undergraduate at the London School of Economics in the 1960s. I was talking to a friend who was ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Erika Rasure is globally-recognized as a leading consumer economics subject matter expert, ...

Lawrence Klein appeared on scene just as statistical and mathematical methods were first being introduced in economics and he quickly became a leading figure in econometrics. Having witnessed the ...

Recent advances in empirical finance have shown that the adoption of network theory is critical in order to understand contagion and systemic vulnerabilities. While interdependencies among financial ...