Otto Eckstein

Otto Eckstein (August 1, 1927 – March 22, 1984) was a German-American economist. He was a key developer and proponent of the theory of core inflation (Eckstein 1981), which proposed that in determining accurate metrics of long run inflation, the transitory price changes of items subject to volatile pricing, such as food and energy, are to be excluded from computation.

Life and career

Eckstein was born in

business family. In 1938, when he was 11 years old, he and several other family members fled the

Eckstein was married and had three children. He died of cancer in 1984, at the age of 56.[1]

Bibliography

• "Water and Resource Development," 1958
• "Inflation, the Wage-Price Spiral and Economic Growth", 1958, in Relationship of Prices to Economic Stability and Growth
• "Staff Report on Employment, Growth and Price Levels," 1959.
• "A Simulation of the U.S. Economy in Recession", with J. S. Duesenberry and G. Fromm, 1960, Econometrica
• "The Determination of Money Wages in American Industry", with T. Wilson, 1962, QJE
• "The Price Equation", with G. Fromm, 1968, AER
• "The Inflation Process in the United States", with R. Brinner, 1972,
• "Industry Price Equations", with D. Wyss, 1972, in Eckstein, editor, Econometrics of Price Determination
• "The Data Resources Model: Uses, structure, and the analysis of the US economy", with E.W. Green and A. Sinai, 1974, in Klein and Burmeister, editors, Econometric Model Performance
• "Econometric Models and the Formation of Business Expectations", 1976, Challenge
• "National Economic Information Systems for Developed Countries", 1977, in Perlman, editor, Organization and Retrieval of Economic Knowledge
• "The Great Recession," 1978
• "Long-Term Properties of the Price-Wage Mechanism in the United States, 1891 to 1977", with J. Girola, 1978, REStat
• "Public Finance," 1979.
• Eckstein, Otto (1981), Core inflation
• "Econometric Models for Forecasting and Policy Analysis: The present state of the art", 1981, in Kmenta, editor "Large-Scale Macroeconometric Models"
• Eckstein, Otto (1983), The DRI Model of the U.S. Economy
• Eckstein, Otto; Allen Sinai (1990), "1. The Mechanisms of the Business Cycle in the Postwar Period", in Robert J. Gordon (ed.), The American Business Cycle: Continuity and Change, University of Chicago Press,
  ISBN 978-0-226-30453-3

References

External links

• Otto Eckstein, 1927-1984 profile at the
  New School
• NBER tribute by Allen Sinai