Clive Granger facts for kids
Quick facts for kids
Sir Clive Granger
|
|
|---|---|
Clive Granger in 2008
|
|
| Born | 4 September 1934 Swansea, Wales, U.K.
|
| Died | 27 May 2009 (aged 74) San Diego, California, U.S.
|
| Nationality | British |
| Institution | Erasmus University Rotterdam University of California, San Diego University of Nottingham |
| Field | Financial economics Econometrics |
| Alma mater | University of Nottingham |
| Doctoral advisor |
Harry Pitt |
| Doctoral students |
Mark Watson Tim Bollerslev |
| Influences | David Hendry Norbert Wiener John Denis Sargan Alok Bhargava |
| Contributions | Cointegration Granger causality Autoregressive fractionally integrated moving average |
| Awards | Nobel Memorial Prize in Economic Sciences (2003) |
| Information at IDEAS / RePEc | |
Sir Clive William John Granger (born September 4, 1934 – died May 27, 2009) was a smart British scientist. He studied how to understand patterns in data over time, especially in economics. This field is called econometrics. He taught at the University of Nottingham in Britain and the University of California, San Diego in the United States. In 2003, he won the Nobel Memorial Prize in Economic Sciences. He shared it with Robert F. Engle. They won for their important work on understanding data that changes over time. Their ideas really changed how experts look at money and big economic trends.
About Clive Granger
His Early Life
Clive Granger was born in 1934 in Swansea, a town in south Wales, United Kingdom. His parents were Edward John and Evelyn Granger. The next year, his family moved to Lincoln.
During World War II, Clive and his mother moved to Cambridge. His father, Edward, joined the Royal Air Force and went to North Africa. In Cambridge, Clive started school. He once heard a teacher tell his mother that he "would never be successful."
Clive began secondary school in Cambridge. He then continued his schooling in Nottingham, where his family moved after the war. Two teachers there helped him become interested in physics and math. He thought he would finish school at 16 and work in a bank. But his friends and father encouraged him to study more. He spent two more years in sixth-form to get ready for university.
Clive started studying economics and math at the University of Nottingham. But in his second year, he decided to focus only on math. After getting his first degree in 1955, he stayed at the University of Nottingham. He worked on his PhD in statistics with Harry Pitt as his guide.
In 1956, when he was 21, Granger became a junior teacher in statistics at the university. He was very interested in using statistics in real-world problems and economics. He chose to study time series analysis for his PhD. He felt that not much work had been done in this area yet. In 1959, he finished his PhD. His paper was about "Testing for Non-stationarity" in data.
His Academic Career
After his PhD, Granger spent a year (1959–1960) at Princeton University in the United States. He was invited to join a special project on econometrics. There, he worked with Michio Hatanaka and John Tukey. They used a method called Fourier analysis to study economic data.
In 1964, Granger and Hatanaka published a book about their research. It was called Spectral Analysis of Economic Time Series. This book helped many people start using these new ways of looking at data. In 1963, Granger also wrote an important article. It was about "The typical spectral shape of an economic variable." This article was published in a famous journal called Econometrica in 1966.
Granger also became a full professor at the University of Nottingham.
In 1969, he wrote another important paper in Econometrica. In this paper, he introduced his idea of Granger causality. This is a way to see if one event helps predict another.
Later, Granger became interested in forecasting, which means predicting the future. He worked with his student, Paul Newbold, on this topic. They wrote a book together in 1977 that became very important for forecasting. In 1974, they also wrote a famous paper about spurious regression. This paper showed that sometimes, two things might seem related but actually aren't. This changed how economists looked at their past work.
Clive Granger worked at the University of Nottingham for 22 years. In 2005, a building there was named the Sir Clive Granger Building. This was to honor him for winning the Nobel Prize.
In 1974, Granger moved to the University of California, San Diego. He continued his research on time series there. He worked closely with Robert Engle, who later shared the Nobel Prize with him. They developed a key idea called cointegration. This idea helps understand how different economic trends move together over time. They published their work on cointegration in 1987 in Econometrica. This is the work for which he won the Nobel Prize in 2003.
Granger also guided many students who were getting their PhDs. One of them was Mark Watson.
In his later years, Granger used his time series methods for things beyond economics. For example, he worked on a project to predict how much deforestation would happen in the Amazon rainforest. In 2003, Granger retired from UCSD. He continued to visit and teach at other universities. He also supported a group that wanted to make the United Nations more democratic.
Granger was married to Patricia (Lady Granger) from 1960 until he passed away. They had a son, Mark William John, and a daughter, Claire Amanda Jane.
Clive Granger died on May 27, 2009, in La Jolla, California.
Awards and Honors
In 2003, Clive Granger and his friend Robert Engle won the Nobel Memorial Prize in Economic Sciences. This was a huge honor for their work. In 2005, he was made a Knight Bachelor, which means he could use the title "Sir."
Granger was also a member of the Econometric Society since 1972. In 2002, he became a Corresponding Fellow of the British Academy. In 2004, he was chosen as one of the 100 Welsh Heroes.
See also
In Spanish: Clive W. J. Granger para niños
- Gabor–Granger method
- Granger causality
