Profile Major Works Resources

Otto Eckstein, 1927-1984

 

German-born Harvard economist and developer of  large-scale macroeconometric models (for which he founded a forecasting corporation, Data Resources Inc. (DRI)).  Eckstein introduced the concept of "core" inflation (i.e. general price inflation minus the price movements of particularly volatile commodities (e.g. oil) and foodstuffs).  He was on the Council of Economic Advisors  from 1964 to 1966.   

 

  


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Major Works of Otto Eckstein

  • Water and Resource Development, 1958
  • "Inflation, the Wage-Price Spiral and Economic Grwoth", 1958, in Relationship of Prices to Economic Stability and Growth
  • Staff Report on Employment, Growth and Price Levels, 1959.
  • "A Simulation of the U.S. Economy in Recession", with J.S. Duesenberry and G. Fromm, 1960, Econometrica
  • "The Determination of Money Wages in American Industry", with T. Wilson, 1962, QJE
  • "The Price Equation", with G. Fromm, 1968, AER
  • "The Inflation Process in the United States", with R. Brinner, 1972, 
  • "Industry Price Equations", with D. Wyss, 1972, in Eckstein, editor, Econometrics of Price Determination
  • "The Data Resources Model: Uses, structure, and the analysis of the US economy", with E.W. Green and A. Sinai, 1974, in Klein and Burmeister, editors, Econometric Model Performance
  • "Econometric Models and the Formation of Business Expectations", 1976,  Challenge
  • "National Economic Information Systems for Developed Countries", 1977, in Perlman, editor, Organization and Retrieval of Economic Knowledge
  • The Great Recession, 1978
  • :Long-Term Properties of the Price-Wage Mechanism in the United States, 1891 to 1977", with J. Girola, 1978, REStat
  • Public Finance, 1979.
  • Core Inflation, 1981.
  • "Econometric Models for Forecasting and Policy Analysis: The present state of the art", 1981, in Kmenta, editor Large-Scale Macroeconometric Models
  • The DRI Model of the US Economy, 1983.
  • "The Mechanisms of the Business Cycle in the Postwar Era", with A. Sinai, 1986, in R.J. Gordon, editor,  American Business Cycle

HET

 

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Resources on Otto Eckstein

 

 
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