Robert Solow

Robert Solow
Solow in 2008
Born
Robert Merton Solow

(1924-08-23)August 23, 1924
Brooklyn, New York, U.S.
DiedDecember 21, 2023(2023-12-21) (aged 99)
Lexington, Massachusetts, U.S.
EducationHarvard University (AB, AM, PhD)
Columbia University
Academic career
FieldMacroeconomics
InstitutionMassachusetts Institute of Technology
School or
tradition		Neo-Keynesian economics
Doctoral
advisor		Wassily Leontief
Doctoral
students		George Akerlof[1]
Mario Baldassarri[2]
Francis M. Bator[3]
Charlie Bean[4]
Alan Blinder[5]
Vittorio Corbo
Peter Diamond[6]
Avinash Dixit[7]
Mario Draghi
Alain Enthoven[8]
Ray Fair[9]
Ronald Findlay[10]
Robert J. Gordon[11]
Robert Hall[12]
Michael Intriligator[13]
Katsuhito Iwai[14]
Ronald W. Jones[15]
Arnold Kling
Meir Kohn [cz]
Glenn Loury[16]
Herbert Mohring[17]
William Nordhaus[18]
George Perry[19]
Robert Pindyck
Arjun Kumar Sengupta[20]
Steven Shavell[21]
Eytan Sheshinski [he][22]
Jeremy Siegel[23]
Joseph Stiglitz[24]
Harvey M. Wagner[25]
Martin Weitzman[26]
Halbert White[27]
InfluencesPaul Samuelson
ContributionsSolow–Swan model
AwardsJohn Bates Clark Medal (1961)
Nobel Memorial Prize in Economic Sciences (1987)
National Medal of Science (1999)
Presidential Medal of Freedom (2014)
Information at IDEAS / RePEc

Robert Merton Solow, GCIH (/ˈsoʊloʊ/; August 23, 1924 – December 21, 2023) was an American economist and Nobel laureate whose work on the theory of economic growth culminated in the exogenous growth model named after him.[28][29]

He was Institute Professor Emeritus of Economics at the Massachusetts Institute of Technology, where he was a professor from 1949 on.[30] He was awarded the John Bates Clark Medal in 1961,[31] the Nobel Memorial Prize in Economic Sciences in 1987,[32] and the Presidential Medal of Freedom in 2014.[33] Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond, and William Nordhaus, later received Nobel Memorial Prizes in Economic Sciences in their own right.[34][35][36]

  1. ^ Akerlof, George A. (1966). Wages and capital (PDF) (Ph.D.). Massachusetts Institute of Technology. Archived (PDF) from the original on August 19, 2017. Retrieved June 28, 2017.
  2. ^ Baldassarri, Mario (1978). Government investment, inflation and growth in a mixed economy : theoretical aspects and empirical evidence of the experience of Italian government corporation investments (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/99791.
  3. ^ Bator, Francis M. (1956). Capital, Growth and Welfare—Theories of Allocation (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/97306.
  4. ^ Bean, Charles Richard (1982). Essays in unemployment and economic activity (Ph.D.). Massachusetts Institute of Technology. Archived from the original on May 26, 2020. Retrieved June 30, 2017.
  5. ^ Blinder, Alan S. (1971). Towards an Economic Theory of Income Distribution (Ph.D.). Massachusetts Institute of Technology. Retrieved July 1, 2017.
  6. ^ Peter A. Diamond – Autobiography – Nobelprize.org Archived April 1, 2012, at the Wayback Machine, PDF page 2
  7. ^ Dixit, Avinash K. (1968). Development Planning in a Dual Economy (Ph.D.). Massachusetts Institute of Technology. Retrieved July 1, 2017.
  8. ^ Enthoven, Alain C. (1956). Studies in the theory of inflation (Ph.D.). Massachusetts Institute of Technology. Retrieved June 30, 2017.
  9. ^ Fair, Ray C. (1968). The Short Run Demand for Employment (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/80461.
  10. ^ Findlay, Ronald Edsel (1960). Essays on Some Theoretical Aspects of Economic Growth (Ph.D.). Massachusetts Institute of Technology. Retrieved June 30, 2017.
  11. ^ Gordon, Robert J. (1967). Problems in the measurement of real investment in the U.S. private economy (Ph.D.). MIT. hdl:1721.1/105586.
  12. ^ Hall, Robert E. (1967). Essays on the Theory of Wealth (Ph.D.). Massachusetts Institute of Technology. Retrieved July 5, 2017.
  13. ^ Intriligator, Michael D. (1963). Essays on productivity and savings (PhD thesis). MIT. OCLC 33811859.
  14. ^ Iwai, Katsuhito (1972). Essays on Dynamic Economic Theory – Fisherian Theory of Optimal Capital Accumulation and Keynesian Short-run Disequilibrium Dynamics (Ph.D.). Massachusetts Institute of Technology. Retrieved July 5, 2017.
  15. ^ Jones, Ronald Winthrop (1956). Essays in the Theory of International Trade and the Balance of Payments (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/106042.
  16. ^ Loury, Glenn Cartman (1976). Essays in the Theory of the Distribution of Income (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/27456.
  17. ^ Mohring, Herbert D. (1959). The life insurance industry: a study of price policy and its determinants (Ph.D.). Massachusetts Institute of Technology. hdl:1721.1/11790.
  18. ^ Nordhaus, William Dawbney. (1967). A Theory of Endogenous Technological Change (Ph.D.). Massachusetts Institute of Technology. Retrieved July 1, 2017. 18. Turgay Özkan|Turkish| date 1979| thesis: Rational Expectations- A game theoretic approach
  19. ^ Perry, George (1961). Aggregate wage determination and the problem of inflation (Ph.D.). Massachusetts Institute of Technology. Retrieved July 4, 2017.
  20. ^ Sengupta, Arjun Kumar (1963). A study in the constant-elasticity-of-substitution production function (Ph.D.). Massachusetts Institute of Technology. Retrieved July 4, 2017.
  21. ^ Shavell, Steven Mark (1973). Essays in Economic Theory (Ph.D.). Massachusetts Institute of Technology. Retrieved July 5, 2017.
  22. ^ Sheshinski, Eytan (1966). Essays on the theory of production and technical progress (PDF) (Ph.D.). MIT. Archived (PDF) from the original on August 6, 2020. Retrieved May 26, 2018.
  23. ^ Siegel, Jeremy J. (1971). Stability of a Monetary Economy with Inflationary Expectations (PDF) (Ph.D.). Massachusetts Institute of Technology. Archived (PDF) from the original on August 20, 2017. Retrieved July 5, 2017.
  24. ^ Stiglitz, Joseph E. (1966). Studies in the Theory of Economic Growth and Income Distribution (PDF) (Ph.D.). MIT. p. 4. Archived (PDF) from the original on August 19, 2017. Retrieved June 29, 2017.
  25. ^ Wagner, Harvey M. (1962). Statistical Management of Inventory Systems (Ph.D.). Massachusetts Institute of Technology. Retrieved June 30, 2017.
  26. ^ Weitzman, Martin (1967). Toward a theory of iterative economic planning (Ph.D.). MIT. Retrieved May 26, 2018.
  27. ^ Hausman, Jerry (2013), "Hal White: Time at MIT and Early Life Days of Research", in Chen, Xiaohong; Swanson, Norman R. (eds.), Recent Advances and Future Directions in Causality, Prediction, and Specification Analysis, New York: Springer, pp. 209–218, ISBN 978-1-4614-1652-4.
  28. ^ "Robert M. Solow | American economist". Encyclopedia Britannica. Archived from the original on August 1, 2017. Retrieved June 8, 2017.
  29. ^ "Prospects for growth: An interview with Robert Solow". McKinsey & Company. September 2014. Archived from the original on June 22, 2017. Retrieved June 8, 2017.
  30. ^ "MIT Economics Faculty". Massachusetts Institute of Technology. Archived from the original on August 17, 2017. Retrieved August 27, 2017.
  31. ^ "American Economic Association". www.aeaweb.org. Archived from the original on August 1, 2017. Retrieved June 8, 2017.
  32. ^ Solow, Robert M. "Robert M. Solow – Biographical". www.nobelprize.org. Archived from the original on December 12, 2017. Retrieved June 8, 2017.
  33. ^ Schulman, Kori (November 10, 2014). "President Obama Announces the Presidential Medal of Freedom Recipients". whitehouse.gov. Archived from the original on January 21, 2017. Retrieved June 8, 2017.
  34. ^ Dieterle, David A (2017). Economics: The Definitive Encyclopedia from Theory to Practice. Vol. 4. Greenwood. p. 376. ISBN 978-0313397073.
  35. ^ "MIT Libraries' catalog – Barton – Full Catalog – Full Record". library.mit.edu. Archived from the original on December 21, 2023. Retrieved October 10, 2018.
  36. ^ Ivana Kottasová. "Nobel Prize in economics awarded to William Nordhaus and Paul Romer". CNN. Archived from the original on October 9, 2018. Retrieved October 10, 2018.