Lars Hansen

Lars Hansen is a renowned American economist and the David Rockefeller Distinguished Service Professor in Economics at the University of Chicago. He is known for his work in Econometrics and Macroeconomics, and has made significant contributions to the field, including the development of the Generalized Method of Moments (GMM) estimator. Hansen's research has been influenced by prominent economists such as Trygve Haavelmo, Leonid Hurwicz, and Kenneth Arrow. His work has also been recognized by prestigious institutions, including the National Bureau of Economic Research and the Econometric Society.

● Early Life and Education

Lars Hansen was born in 1952 in the United States. He received his Bachelor's degree in Mathematics and Economics from the University of Minnesota in 1974, and his Ph.D. in Economics from the same institution in 1978. During his time at the University of Minnesota, Hansen was influenced by notable economists such as Leonid Hurwicz and Edward Prescott. He also had the opportunity to interact with other prominent economists, including Christopher Sims and Thomas Sargent, who would later become his colleagues at the University of Chicago.

● Career

Hansen began his academic career as an assistant professor at Carnegie Mellon University in 1978, where he worked alongside economists such as Robert Lucas and Edward Prescott. In 1981, he joined the faculty at the University of Chicago, where he has remained ever since. At the University of Chicago, Hansen has held various positions, including director of the Center for Research in Security Prices and co-director of the Fama-Miller Center for Research in Finance. He has also been a visiting scholar at institutions such as the Federal Reserve Bank of Minneapolis and the Bank of England.

● Research and Contributions

Hansen's research has focused on the development of new econometric methods, particularly the Generalized Method of Moments (GMM) estimator. He has also made significant contributions to the field of Macroeconomics, including work on the Lucas Critique and the Rational Expectations hypothesis. Hansen's research has been published in top-tier journals such as the Journal of Political Economy, the American Economic Review, and the Econometrica. He has also collaborated with other prominent economists, including Thomas Sargent, Christopher Sims, and Robert Shiller. Hansen's work has been recognized by institutions such as the National Science Foundation and the Alfred P. Sloan Foundation.

● Awards and Honors

Hansen has received numerous awards and honors for his contributions to economics. In 2013, he was awarded the Nobel Memorial Prize in Economic Sciences for his work on the Generalized Method of Moments (GMM) estimator. He has also received the Erwin Plein Nemmers Prize in Economics from Northwestern University and the CME Group-MSRI Prize in Innovative Quantitative Applications. Hansen is a fellow of the Econometric Society, the American Academy of Arts and Sciences, and the National Academy of Sciences. He has also been recognized by institutions such as the University of Chicago Booth School of Business and the Federal Reserve Bank of Chicago.

● Personal Life

Hansen is married to Grace Tsiang, a former economist at the University of Chicago. He has two children, Peter Hansen and Karen Hansen, who are both involved in the field of economics. Hansen is known for his love of classical music and hiking. He has also been involved in various philanthropic activities, including supporting the University of Chicago's Economics Department and the Chicago Symphony Orchestra. Hansen's work has been recognized by institutions such as the MacArthur Foundation and the John D. and Catherine T. MacArthur Foundation. Category:Economists