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Clive Granger

Picture of Clive Granger

Date of Birth: 09/04/1934

Age: 74

Place of birth: Swansea

Citizenship: United Kingdom

Background

In 2003, the year Granger was awarded in economics Nobel Prize. He shared the award with his colleague Robert F. Engle (Robert F. Engle) for `developing methods for analyzing economic time series with common trendami` that is radically different from that practiced by economists in the analysis of financial and economic data.

Clive William John Granger (Clive William John Granger) was born September 4, 1934-th in Swansea, South Weale bc (Swansea, Wales), and was the son of Edward John Granger (Edward John Granger) and Granger Evelyn (Evelyn Granger). The following year, his parents moved to Lincoln (Lincoln).

During the Second World War, Granger moved with his mother to Cambridge (Cambridge), which went to the local primary school. Then he went to high school in Cambridge, but the education at this level continued to receive in Nottingham (Nottingham), where the family moved after the war. In school, Clive showed his talents in mathematics, having developed a great interest in the field of applied mathematics.

After high school, he enrolled at the University of Nottingham (University of Nottingham), selecting the very beginning as the majors economics and mathematics, then in the last year of study to fully concentrate on mathematics.

In 1955, Granger received a bachelor`s degree and decided to stay at the university to become a PhD in statistics. He was preparing a doctoral thesis under the direction of Harry Pitt (Harry Pitt).

In 1956, when Clive was only 21 years old, he was appointed as a junior lecturer at Nottingham University statistics. Since he was more interested in applied statistics and economics, Granger chose as the theme `svoeydissertatsii ryadov` analysis of time, an area in which, he feels, is not enough at the time it was done.

In 1959 he defended his thesis on `testing nestatsionarnost`.

Next academic year, 1959-1960, he spent in the United States, at Princeton University (Princeton University) on the program fellows `The Harkness Fellowships` Commonwealth Fund (Commonwealth Fund). Clive was invited to Princeton Oskar Morgenstern (Oskar Morgenstern), with whom he participated in the development of econometric research project. In Granger University also worked with Michio Hatanaka (Michio Hatanaka) as assistants John Tukey (John Tukey) in its project on the use of harmonic analysis in economic data.

At the end of the academic year in Princeton Granger married, then I went on a honeymoon to the United States.

In 1964 he Hatanaka published their findings in a book on spectral analysis of economic series. A year before the publication of the book by Clive wrote an article entitled `A typical spectral shape of the economic peremennoy` (` The typical spectral shape of an economic variable`), which appeared in 1966 in the academic journal `Econometrica`. Both labor had a strong influence on the adoption of new techniques.

Granger made a permanent contract with the University of Nottingham. In 1969 he also presented in the journal `Econometrica` his concept of` causality Grendzheru`. British economist and was interested in predicting. So, over the next few years, he has explored the issue with his student, post-doctoral student Paul Newbold (Paul Newbold), and wrote him a book that has become a benchmark in forecasting time series. The book was published in 1977.

Using modeling, Newbold and Granger also wrote a famous work of 1974 on false regression. This work has led to a reassessment of previous empirical research in economics and econometric methodology.

Overall, Granger held at Nottingham University for 22 years. After he received the Nobel Prize, in 2005 the Faculty of Economics and Geography have been renamed, one of them was called the House of Sir Clive Granger.

In 1974, Granger moved to the US, where he began working at the University of California at San Diego.

In 1975 he participated in the activities of the US Census Bureau (The United States Census Bureau), becoming one of the members of the commission, headed by Arnold Zellner (Arnold Zellner). Specifically, Granger worked seasonally adjusted. The new university, he continued his studies of time series, working closely with Nobel laureate Robert Engle, Rosalyn Zhoye (Roselyn Joyeux), Timo Terasvirta (Timo Ter & # 228; svirta) and others.

Cooperating with Engle, Granger developed the concept of cointegration, which in 1987 was recorded in the journal `Econometrica`. For this work, Clive won the Nobel Prize in 2003, the year.

In subsequent years, Granger also used the methods of time-series data analysis beyond the economy. Thus, he worked on a project related to the tropical forests of the Amazon, and built a model to predict deforestation. The results were published in 2002 in his book. Granger left the University of California in 2003 in the post of honorary professor.

As a guest of Professor Granger visited the University of Melbourne (University of Melbourne) and the University of Canterbury (Canterbury University).

Clive was married to Patricia Granger (Patricia Granger) from 1960 until his death. He is survived by his son Mark, William John (Mark William John), and daughter Amanda Jane Claire (Claire Amanda Jane).

Granger died May 27, 2009 th, Scripps Memorial Hospital in La Jolla, California (Scripps Memorial Hospital, La Jolla, California).

He was a member of the Econometric Society (Econometric Society) since 1972 and a corresponding member of the British Academy (British Academy) from 2002 year. In 2004, a survey Granger got into the list of `100 Welsh geroev`.

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