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Who stated that Klein "was the first to create the statistical models that embodied Keynesian economics?"
John Maynard Keynes
Martin Feldstein
Richard Thaler
Benoit Mandelbrot
Answer
According to Martin Feldstein, Lawrence Klein "was the first to create the statistical models that embodied Keynesian economics". Klein's work in the field of econometrics helped to develop a more accurate understanding of how the economy works and to create models that can be used to predict economic trends.
Mastering Macro: The Legacy of Lawrence Klein
More Questions
Who still uses Klein's models, according to Martin Feldstein?
Besides becoming widespread among economists, what other impact did Klein's models have?
In which University did Klein conduct his research?
In which economic ideology do Klein's models embody?
What was Klein's method of forecasting economic trends?
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