Sir Clive Granger (born September 4, 1934) is a Welsh-born economist, and Professor Emeritus at the University of California at San Diego, USA. Along with Robert Engle of New York University he shared the 2003 Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel. Jump to: navigation, search September 4 is the 247th day of the year (248th in leap years). ... Jump to: navigation, search 1934 was a common year starting on Monday (link will take you to calendar). ... An economist is someone who studies Economics. ... Jump to: navigation, search The University of California, San Diego (popularly known as UCSD) is a public, coeducational university located in La Jolla, California. ... Robert F. Engle (born 1942) received the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 2003, sharing the award with Clive Granger, for methods of analyzing economic time series with time-varying volatility (ARCH). He got his Ph. ... Jump to: navigation, search New York University (NYU) is a major research university in New York City. ... Jump to: navigation, search 2003 (MMIII) is a common year starting on Wednesday of the Gregorian calendar. ... Jump to: navigation, search The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel (in Swedish Sveriges Riksbanks pris i ekonomisk vetenskap till Alfred Nobels minne), is a prize awarded each year for outstanding intellectual contributions in the field of economics. ...

He was born in Swansea, Wales, and educated at the University of Nottingham, England where he was a undergraduate and postgraduate student, and subsequently became a full professor. In all, he spent 22 years at the University before leaving for UCSD in 1974. In 2005, the building that houses the Economics and Geography Departments at the University of Nottingham was renamed the Sir Clive Granger Building in honour of his Nobel achievement. Sir Clive Granger is married with three children. The youngest, Claire was married in England in 2005. Swansea (Welsh: Abertawe, mouth of the Tawe) is a city and county in South Wales, situated on the coast immediately to the east of the Gower peninsula. ... Jump to: navigation, search National motto: Cymru am byth (Welsh: Wales for ever) Waless location within the UK Official languages English, Welsh Capital Cardiff Largest city Cardiff First Minister Rhodri Morgan Area  - Total Ranked 3rd UK 20,779 km² Population  - Total (2001)  - Density Ranked 3rd UK 2,903,085... The University of Nottingham is a leading research and teaching university in the city of Nottingham, in the East Midlands of England. ... Jump to: navigation, search Royal motto (French): Dieu et mon droit (Translated: God and my right) Englands location within the UK Official language English de facto Capital London de facto Largest city London Area - Total Ranked 1st UK 130,395 km² Population - Total (mid-2004) - Density Ranked 1st UK...

Clive Granger’s great breakthroughs concerned the relationships between different financial or economic variables over time. He showed that traditional statistical methods could be misleading if applied to variables that tend to wander over time without returning to some long-run resting point. He also demonstrated that many variables display similar long-run patterns that can be exploited in statistical analysis. Combining several of these variables can create a joint variable that returns to a resting point, allowing traditional methods to be used. For example, economic forces such as uneven technological progress cause consumption and income to grow over time, but other economic forces, such as constraints on budgets, make them follow similar paths (“Cointegration”). This discovery not only led to significant breakthroughs in statistics and macroeconomic forecasting, but also to an important reconciliation between macroeconomic theory and data. Clive Granger also developed a formal statistical notion of causality based on which variables help to predict other variables. His discovery is widely used and is commonly known as “Granger Causality.” While at USD he was famously photographed astride a powerful motorbike with the photo eventually captioned "Rebel without a causal model".

He received his Nobel Prize "for methods of analyzing economic time series with common trends (cointegration)". In statistics and signal processing, a time series is a sequence of data points, measured typically at successive times, spaced apart at uniform time intervals. ... Cointegration is an econometric technique for testing the correlation between non-stationary time series variables. ...

He has said that the Norwegian economy is the best in the world. He was knighted in the 2005 New Year's Honours. Jump to: navigation, search Source: Central Bureau of Statistics, Norway Although sensitive to global business cycles, the economy of Norway has shown robust growth since the start of the industrial era. ...

He teaches for 2 months a year at the University of Melbourne, Australia. Jump to: navigation, search The University of Melbourne   The Old Quad Building, formerly Old Law The University of Melbourne, located in Melbourne, in Victoria, is the second oldest university in Australia, behind the University of Sydney, and is one of the countrys most prestigious universities. ...

Selected Works

Co-integration and Error Correction: Representation, Estimation and Testing (with Robert Engle), Econometrica 55 (1987): 251-276.