"During the early 1960s, I decided to supplement research support for quantitative economic studies at Pennsylvania by selling econometric forecasts to private and public sector buyers"
- Lawrence R. Klein
About this Quote
Lawrence R. Klein was an economist who was active throughout the early 1960s. He was searching for ways to support quantitative financial research studies at Pennsylvania and decided to offer econometric projections to personal and public sector buyers. This was a method to create additional funds for the research he was performing. Econometric forecasts are forecasts of financial patterns based on mathematical designs and statistical analysis. Klein's decision to offer these projections was a way to generate extra funds for his research and to offer a service to personal and public sector buyers. His decision was a successful one, as it permitted him to continue his research and offer a valuable service to those who needed it.
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