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Frisch (Frisch), Ragnar

( Norwegian economist, Nobel Memorial Award in Economics, 1969)

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Biography Frisch (Frisch), Ragnar
March 3, 1895, Mr.. - 31 January 1973
Norwegian economist Ragnar Frisch Anton Kitty was born in Oslo. He was the son of Anton Frisch and Ragna Frederikke (nee Kittilsen) Frisch. Many generations of the family Frisch were jewelers who worked in gold and silver. And Ragnar also been trained in the profession of the famous company 'David Anderson' (Oslo), received a patent goldsmith in 1920,. At the insistence of his mother, he also studied at the University of Oslo, electing as its specialty economy, because, he says, 'it was the shortest and easiest course'. In 1919, Mr.. He received a bachelor's degree the following year moved from Norway to study in graduate school, first to France, then in Germany, Britain, Italy and the United States.
In 1925, Mr.. F. returned to Oslo as an assistant professor of economics at the University of. In 1926, after completion of the dissertation in mathematical statistics (about poluinvariantah and values used in the study of the statistical distribution), he received his doctorate. In 1928, Mr.. he became an associate professor and in 1931. was appointed full (real) professor of social economy and statistics and director of Research Division of the Economic Institute at the University of Oslo.
For training courses F. has been based upon the work of such eminent scientists as David Ricardo, Knut Viksell, Alfred Marshall. While some are attracted to their theories of mathematics, yet they mostly used the most 'literary', not the language of mathematics. Style their logical thinking and evidence F. considered 'a vague and dull'. He himself sought to give the economy 'new start', . bring it closer to the natural sciences through the creation of the theory, . based on the mathematical and axiomatic basis, . and connect it with the empirical research, . relying on the mathematical statistics.,
. F
. sought to bring these new beginnings in the economy is already in his first significant work - was published in 1926. article 'On the problem of pure economic science' ( "Sur un probleme d'economie pure"), in which he gave a new exposition of the theory of consumer demand - the branch of economic science that studies the behavior of the individual. His theory contained a mathematical derivation of a small number of axioms that characterize the behavior of consumers seeking to maximize the value they receive (ie. their ability to satisfy the desires and needs). For example, he suggested that consumers in fact maximize utility, and utility function has some clear mathematical properties. As proposed by O. axioms were simple and clear to understand, they could easily have been subjected to experimental verification: follow economists could build on his work, to improve the theory and look for additional scope of its use.
. With the help of mathematical and axiomatic bases F
. outlined a new theory of production, the behavior of producers and firms. However, many of his ideas in this area could be known only to a limited audience - partly because, . that he had not published many of his major works, . and partly because, . that the originality of his ideas and mathematical style, . in which they were presented, . made them incomprehensible to most economists at that time.,
. Proceedings F
. on the theory of production necessarily include the characteristics of production functions through the use of isoquants, or combinations of cost, bringing equal increments release. In his writings he sought to quantify and statistical verification of their hypotheses, making sure that these statistical methods of analysis based on rigorous economic theory. Some of these ideas on the theory of production, he published in 1935. article 'The principle of substitutability: an example of its use in the manufacture of chocolate' ( "The Principle of Substitution: An Example of Its Application in the Chocolate Industry"). His conception of the theory on the basis of this production has formed the foundation upon which later was built the neoclassical economic theory.
. In its first major study on quantitative analysis - 'Correlation and scatter of statistical variables' ( "Correlation and Scatter in Statistical Variables", 1929), - O
. described the difficulties, . involved in establishing the causal linkages in the economy in the cases, . when the observed trends are determined by the simultaneous action of interdependent variables, . as, . example, . in the case of a problem of supply and demand of goods and services,
. He constantly emphasized the importance of time and changes over time. Addressing an innovator in the creation of dynamic models of analysis, it has influenced subsequent work in this area, particularly in the work of Paul Samuelson 'Foundations of Economic Analysis' ( "Foundations of Economic Analysis", 1947).
. For the original empirical study F
. 'New methods of measuring marginal utility' ( "New Methods of Measuring Marginal Utility"), published in 1932, followed in 1934. his work 'statistical analysis of intersections in the complete regression' ( "Statistical Confluence Analysis by Means of Complete Regression Systems"). In this latest work F. to analyze and refine the problem of interdependence of variables, . he called multicollinearity and which is defined as the tendency of many variables to the joint motion due to their subordination to the general trends, . cycles or other similar characteristics.,
. F
. coined the term 'ekonomentrika' to denote the application of mathematics to economic theory and empirical research. In 1930. He made great efforts to the creation of the Econometric Society - an international association of statisticians and economists who work with mathematical methods. For more than thirty years, he worked as editor of the society 'Econometrics'.
During the Great Depression of the 30-ies. focus F. gave a wide range of issues that affect the economy of the States. These his new study were published in the received interpretation of the classic article 'Problems of distribution and impulse problems in dynamic economics' ( "Propagation Problems and Impulse Problems in Dynamic Economics"), . published in 1933,
. It contained several new provisions, . have contributed to the further development of the analysis of the economic cycle, . including the first use of the terms 'microeconomics' (to describe the scope of the behavior of individual economic actors) and 'macroeconomics' (to describe the scope of activities under a single national economy),
. Article V. also contained one of the first systems of national income accounts, . which was subsequently developed them further in rotaprintnom publication of an article entitled 'The system of concepts, . describing the economic cycle and the production process' ( "A System of Concepts Destribing the Economic Circulation and Production Process"), . which was published in 1948,
. In two articles published in 1933 and 1936
. under the same heading, 'On the concept of equilibrium and disequilibrium' ( "On the Notion of Equilibrium and Disequilibrium"), F. fundamentally new way revealed the essence of economic cycles (business cycles). He described them in the acceleration principle, explaining how changes in investment and income levels may be self-reinforcing, ie. lead to increased investment at a higher level of income. His dynamic macroeconomic model showed, . as economic fluctuations (business cycle) may be caused by unexpected events or the so-called random shocks, . such, . as war, . panic on the stock exchange or a large increase in prices for imported raw materials,
. The duration of such fluctuations in his model was different and correlated with the difference between short and long cycles in the real world.
During the Depression, F. was among those who first introduced a new approach to macroeconomics, which is associated with the name of the Swedish economist Erik Lindahl and other members of the Stockholm School and the work of British economist John Maynard Keynes. In 1933. F. published a booklet 'Savings and planning for traffic' ( "Sparing og Cirkulasjonsregulering"), . anticipated many of the provisions of Keynes about the importance of state intervention in the economy to end the prolonged economic depression.,
. F
. also took up the problem of restoring production to areas of depression economics, . in which the lack of demand does not interest the individual entrepreneurs in investing in the production of goods for fear of, . that they can not sell these products,
. Although his recondite mathematical language limited while the circle of his followers, the significance of his theory of savings for the study of the scope of macroeconomics was timeless. Moreover, it has already found a place many of the elements of the modern theory of planning, associated with the name Wassily Leontief, Tyalinga Koopmans and Leonid Kantorovich.
After coming to power in Norway in 1936. Labor Government F. became more concerned with matters of economic planning. They interested him, by the way, before the Second World War and after the. He developed a complex linear and nonlinear models. In general, he was not interested in political issues, but nevertheless, during the Nazi occupation of Norway was in custody and as a prominent opponent of Nazism, and as a Jew. He was in the same cell with Norwegian chemist Odd Hassell.
After the war, F. was engaged as a consultant to many governments and in Norway, and the rest of the world (India, Egypt). He developed a model of economic decision-making to help economic planners to determine the effectiveness of alternative economic policies and its impact on national income and its distribution, . as well as for constructing the preference when choosing between economic alternatives,
. Many of the works of F. on this subject have remained unpublished. Nevertheless, the very activity of his, including teaching, has had a considerable impact on the economic development of the school in Oslo to continue his work. Two representatives of this school have received international acclaim: it Trygve Hovelmo and Leif Johansen.
After retiring in 1965. retired from the University of Oslo, he continued his research in the field of economic theory and practice. Throughout his life F. fond of climbing and other sports in the open air, as well as professional life studying bees. More than sixty years he gave for the sake of genetic research to improve the breed of bees. These pursuits, he once described not only as a 'pleasant pastime', but as 'mania, from which escape is impossible'.
In 1969. F. and Jan Tinbergen were the first economists winners have just established the Nobel memorial prize in economics 'for the creation and application of dynamic models to the analysis of economic processes'. In his speech at the presentation of Erik Lundberg, a member of the Royal Swedish Academy of Sciences, noted that "Professor F. in his pioneering work ... implemented dynamic expression of the theory of cycles'. Continuing, he said that F. 'ahead of his time building mathematical models, in any way had many followers. The same is true with respect to its contribution to the development of methods for testing hypotheses'.
Because of illness F. unable to participate in the ceremony of the Nobel Prize, but the June 17, 1970, Mr.. He made his Nobel lecture at the University of Oslo on the theme 'From utopian theory to practical application: the case of econometrics'.
In 1920, Mr.. F. married Marie Smedal, they had one daughter. His first wife died in 1952, and the following year he married Astrid Johannessen. F. died in Oslo in 1973
In addition to the Nobel Prize, F. won Schumpeter of Harvard University (1955) and the Antonio Feltrinelli Prize, National Academy of Sciences of Italy (1961). He was a member of the Royal Statistical Society in London, American Economic Association and the American Academy of Arts and Sciences.

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