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J. TINBERGER

THE HAQUB, 10 November 195^4Sijzenlaan 1+1
Professor Gardner Ackley,
Chairman Department of
Economics»
University of Michigan,
Ann Arljor. Michigan. USA

l^
Dear Professor Ackley,

In reply to yoxir letter of NovemlDer 21+ I am
glad strongly to recommend Dr Lawrence R, Klein
for -a~ professorship in economics. Dr Klein is
one of the most productive and practical econometricians
of the last decade or so. After havin" written his
remarkable thesis "The Keynesian Revolution" he devoted
himself primarily to the construction of econometric
models for the United States since 1921. Several
publications have been devoted "by him to this subject
and his methods have been up to date and imaginative.
One of the features of his book "Economic Fluctuations
in the United States, 1921~19M" was the intimate
integration of theory and statistical method. Another
was that he introduced several improvei.ients as compared with earlier models as e.g. investment equations
in v/hich he introduced capital accumulated as a
new variable. In later attempts he also paid attention
to the role playecL by liquid assets in consumer
expenditure. In recent years he based his models,
which he periodically applies to the coming year,
not only on the usual econometric approach,but at
the same time on information gained from surveys
on consumers' psychology and behavioxir, I think this
integration is another important new element he
brought into econometric model building, adapting
his models to certain justified criticisms forrmilated
by others.
Among his other publications I should like
to mention his"Post-Mortem of Transition Predictions^
in which he analysed the •'"^lue of econometric forecasts of the immediate poat-war period. In a recent
textbook "Econometrics" he succeeded in bringing
together the economic as well as the statistical
elements of econometric research in a well-proportioned
way, clearly explaining and nicely illustrated by
examples. This account of his work is not complete:
his productivity was quite remarkable, but my examples
I take it will be sufficient to support ray warm
recommendation. I only should like to add that also
his human properties are the ones needed for v»'ork
with young^people: stimulating, constructive and
interested.
Yours very sincerely.

/pt

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