Evsey Domar

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Evsey Domar
Born(1914-04-16)April 16, 1914
John A. Hobson
ContributionsHarrod–Domar model

Evsey David Domar (Russian: Евсей Давидович Домашевицкий, Domashevitsky; April 16, 1914 – April 1, 1997) was a Russian-American economist, famous as developer of the Harrod–Domar model.

Life

Evsey Domar was born on April 16, 1914, in the

Russian Manchuria in the Russian Far East, then emigrated to the United States
in 1936.

He received a Bachelor of Arts from

UCLA in 1939, a Master of Science from the University of Michigan in 1940, a Master of Science from Harvard University
in 1943, and a doctorate from Harvard in 1947.

In 1946 Evsey Domar married Carola Rosenthal. The couple had two daughters.

He was a professor at the

from 1957 until the end of his career.

Evsey Domar was president of the Association for Comparative Economics and a member of several other academic organizations including the American Academy of Arts and Sciences, the Econometric Society, and the Center for Advanced Study in the Behavioral Sciences. He was on the executive committee of the American Economic Association from 1962 until 1965, and became the organization's vice president in 1970. In 1965, he was the first recipient of the John R. Commons Award, given by the economics honor society Omicron Delta Epsilon.[2]

He worked for the

Institute for Defense Analysis
.

Evsey Domar died on April 1, 1997, in the Emerson Hospital in Concord, Massachusetts 15 days before his 83rd birthday.

Work

Evsey Domar was a

comparative economics and economic growth. In 1946 he advanced the idea that economic growth served to lighten the deficit and the national debt. During the Cold War
he was also an expert on Soviet economics.

He is most known for developing, independently of British economist

Roy Forbes Harrod, what has become to be known as the Harrod–Domar model of economic growth. This model was the precursor to the neoclassical model of economic growth, differing mainly in its restrictive assumption that the Leontief production function applied, which meant there would be fixed proportions of capital and labor in production, not substitution between them.[3] In the model, economic growth was unstable. The Solow–Swan model that followed several years later borrowed heavily from the Harrod-Domar model and used a variable proportions Cobb–Douglas production function.[4]

Domar's 1961 paper is cited as the source of Domar aggregation, a set of rules and processes for combining industry growth data together to get aggregate industry sector or national growth.

Among his students was the economic historian

Nobel Memorial Prize in Economics
in 1993.

Papers

References

  1. ^ Inflation in Yugoslavia, 1962-1972; an empirical analysis.
  2. ^ "Omicron Delta Epsilon - the International Economics Honor Society".
  3. JSTOR 2228485
    .
  4. .

Further reading

External links