After collaborating for a number of years with one of the world’s most influential living econometricians, Aarhus University appoints Professor Sir David F. Hendry of Oxford University as Honorary Doctor.
Professor Sir David F. Hendry is one of the world’s most influential and respected living econometricians. He has published over 300 journal articles, many of which are widely cited internationally, and he has written a number of seminal books in his field. Hendry’s work is predominantly concerned with the development of a coherent methodological approach to the econometrics of time series. General-to-specific modelling is an important aspect of his influential empirical econometric methodology, which is generally known to economists all over the world as the Hendry/LSE approach.
His research has helped make this approach more widespread and easier to apply, both through publicly available software packages for applying the method to data (such as PcGive and PcGets) and the publication of important empirical case studies.
Hendry’s best-known work concerns the so-called ‘consumption function’, which calculates the amount of total consumption in an economy. Hendry’s description of consumption over time demonstrates that changes in consumption from one period to the next are not only dependent on changes in income, but are also dependent on the relationship (the logarithmic difference) between consumption and income in the previous period – that is to say the previous deviation from equilibrium. As economic series progress, they correct the deviations from equilibrium of previous periods.
Hendry has visited Aarhus University numerous times over the years. He participated in the major conferences organised by the Department of Economics at the Sandbjerg Estate in 1986 in connection with its 50th anniversary and more recently at conferences in 2007 and 2009 organised by CREATES (Center for Research in Econometric Analysis of Time Series) and funded by the Danish National Research Foundation. He has collaborated with researchers from Aarhus in several respects and has co-edited books and a special volume of the Oxford Bulletin of Economics and Statistics including themes like non-linear econometric modelling, model selection and evaluation. Hendry is a highly respected colleague and a good friend of several researchers at the Department of Economics and Business and CREATES.
During his present stay at Aarhus University and in connection with his appointment as Honorary Doctor, David F. Hendry will give the lecture "Semi-automatic Non-linear Model Selection" at The Department of Economics and Business on Thursday 12 September 14.15-15.15 in room L242 Fuglesangs Allé 4.
SIR DAVID FORBES HENDRY – CURRICULUM VITAE
Professor, Department of Economics, University of Oxford
EDUCATION AND APPOINTMENTS
2010 - Director, Programme in Economic Modelling, Institute for New Economic Thinking
at the Oxford Martin School
2008 - Member, Advisory Panel on Foresight for Chief Scientific Adviser to HM Government
2001 - 2007 Chairman, Economics Department, University of Oxford
1982 - Professor of Economics and Fellow of Nuffield College, University of Oxford
1970 PhD, London School of Economics
1967 MSc (Distinction) Econometrics, London School of Economics
1966 MA (First Class Honours) Economics, University of Aberdeen
SELECTED PRIZES AND HONOURS
2012 Academician of the Academy of Social Sciences
2012 Isaac Kerstenetzky Scholarly Achievement Award
2011 Honorary Senior Fellow, Rimini Centre for Economic Analysis
2010 Honorary Member, Argentine Association of Political Economy
2009 Knight Bachelor, HM The Queen’s Birthday Honours List
2009 Honorary Doctorate, Carlos III University, Madrid
2006 Honorary Dr.Phil., University of Lund
2003 One of the world’s 200 most cited economists, ISI (isihighlycited.com)
2001 Honorary Fellow, International Institute of Forecasters
1998 Honorary DSc, Nottingham University
1995 Honorary Vice-President, Royal Economic Society
1994 Foreign Honorary Member, American Academy of Arts and Sciences
1991 Foreign Honorary Member, American Economic Association
1991 Medal of Erasmus University, Rotterdam
1987 Fellow, British Academy
1975 Fellow, Econometric Society