Conference at Tepper School of Business Honors
Research of Lars Hansen and Ken Singleton
Conference Recognizes 25th Anniversary of Seminal
Work in Modern Dynamic Empirical Analysis
PITTSBURGH — The Tepper School of Business at Carnegie Mellon University will host "Advances in Theory-Based Estimation: A Conference in Honor of Lars Hansen and Ken Singleton," Sept. 28-29. The conference recognizes the 25th anniversary of Hansen and Singleton's seminal paper, "Generalized Instrumental Variables Estimation of Nonlinear Rational Expectations Models," published in the September 1982 edition of the prestigious journal, Econometrica. The paper was written when Hansen, the Homer J. Livingston Distinguished Service Professor at the University of Chicago, and Singleton, the Adams Distinguished Professor of Management at Stanford University, were faculty members at the Tepper School.
The research has been cited 1,331 times, according to Google Scholar, and established the first general methodology to estimate and test nonlinear dynamic models. These models are the centerpiece of modern dynamic analysis in business and economics, and Hansen and Singleton's joint work is widely considered to be one of the most important milestones in empirical economic analysis. Moreover, their work had important influences on modern finance practices.
"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