"Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models," (with L. Hansen), Econometrica 50, September 1982, 1269-1286.
- Center for Entrepreneurial Studies
- Center for Global Business and the Economy
- Center for Leadership Development and Research
- Center for Social Innovation
FOR FURTHER INFORMATION: Helen K. Chang, 650-723-3358, Fax: 650-725-6750
Conference Honors Singleton
For Pathbreaking Financial Economics
September 2007
Ken Singleton, the Adams Distinguished Professor of Management, was honored last September along with a coauthor on the 25th anniversary of the publication of a research paper that proved to be the centerpiece of modern dynamic analysis in business and economics. The paper, “Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models,” published in the September 1982 edition of the prestigious journal Econometrica, has been cited 1,331 times, according to Google Scholar. It established the first general methodology to estimate and test nonlinear dynamic models.
The Tepper School of Business at Carnegie Mellon University honored Singleton and Lars Hansen, a professor at the University of Chicago, by hosting an academic conference in their field. Both economists were at Tepper when their seminal paper was published. Their joint work is widely considered to be one of the most important milestones in empirical economic analysis, and it has had important influences on modern finance practices.
Singleton has studied the measurement and management of market, credit, and liquidity risks as well as debt financing in emerging economies. He joined the Stanford Business School faculty in 1987 and is currently a senior associate dean for academic affairs.
“The path-breaking contributions of Hansen and Singleton provided the foundation for significant advances by themselves and many others in empirical economic and financial research, and in the science of asset pricing,” said Kenneth B. Dunn, dean of the Tepper School of Business.
