A Nobel Prize-winning economist who developed methods to analyze economic data and forecast future trends, particularly in the fields of econometrics and time series analysis.
Clive Granger, a renowned British econometrician, is best known for his groundbreaking contributions to nonlinear time series analysis, earning him the Nobel Memorial Prize in Economic Sciences in 2003. Granger's work, in collaboration with Robert F. Engle, revolutionized the way economists analyze financial and macroeconomic data, leaving an indelible mark on the field of econometrics.
Born on September 4, 1934, in Swansea, south Wales, to Edward John Granger and Evelyn Granger, Clive's early life was marked by resilience and determination. During World War II, he and his mother moved to Cambridge, where he began school. Despite a primary school teacher's doubts about his future success, Clive's interest in physics and applied mathematics flourished under the guidance of two supportive teachers in Nottingham.
Granger pursued a joint degree in economics and mathematics at the University of Nottingham, switching to full mathematics in his second year. He received his BA in 1955 and remained at the University of Nottingham to earn a PhD in statistics under the supervision of Harry Pitt.
Granger's academic career spanned several decades, with teaching appointments in Britain at the University of Nottingham and in the United States at the University of California, San Diego. His research focus on time series analysis led to the development of several influential models, including the Autoregressive Integrated Moving Average (ARIMA) model and the concept of cointegration.
Granger's most notable work, co-authored with Robert F. Engle, introduced the concept of cointegration, which revolutionized the analysis of economic time series data. This work was recognized with the Nobel Memorial Prize in Economic Sciences in 2003.
Granger's contributions to econometrics have far-reaching implications for modern society. His work has improved forecasting and policy-making in fields such as finance, economics, and environmental science. The applications of his research are diverse, ranging from optimizing portfolio management to predicting climate patterns.
Granger's achievements have been recognized with several prestigious awards, including:
Granger's personal life was marked by a strong sense of family and academia. He married Norma Graves in 1960, and they had two children, Mark and Claire. Granger's passion for teaching and research led him to dedicate his life to academia, inspiring generations of students and researchers.
Clive Granger's pioneering work in nonlinear time series analysis has created a lasting legacy in the field of econometrics. His contributions have not only improved our understanding of economic systems but have also inspired new generations of researchers and policymakers. Granger's impact will continue to be felt for years to come, as his work remains a cornerstone of modern econometrics.
Born in 1912
A Nobel Prize-winning economist who championed free market capitalism and limited government intervention, known for his advocacy of laissez-faire economics and influential writings on monetary policy.
Born in 1883
A pioneering economist who revolutionized modern economic theory with his groundbreaking ideas on government intervention and fiscal policy, shaping global economic policies.
98 Years Old
Former Chairman of the Federal Reserve, guiding the US economy through periods of growth and crisis, and known for his influence on monetary policy.
70 Years Old
The Chairman of the Federal Reserve during the 2008 financial crisis, credited with implementing unconventional monetary policies to stabilize the economy. Known for his calm and decisive leadership during tumultuous times.
71 Years Old
A Nobel Prize-winning economist and academic who has made significant contributions to the field of international trade and economic geography, and is also a prominent columnist and author.
81 Years Old
A Nobel Prize-winning economist and academic who has made significant contributions to the field of economics, particularly in the areas of information economics and globalization.
90 Years Old
A renowned economist and philosopher who has made significant contributions to welfare economics, social choice theory, and development economics, and is known for his work on poverty, famine, and human development.
93 Years Old
A pioneer in applying economic theory to social issues, he's most known for his work on human capital, crime and punishment, and the economics of the family.
