Quick Facts
Biography
Marc Leon Nerlove (born October 12, 1933) is an American economist specialized in agricultural economics and econometrics. He is currently Professor of Agricultural and Resource Economics at the University of Maryland. In 1964 he was elected as a Fellow of the American Statistical Association. In 1969 he was awarded the John Bates Clark Medal for his contributions to economics. In 2012, he was elected Distinguished Fellow of the American Economic Association.
Nerlove's father, Samuel Henry Nerlove, was the son of Russian immigrants from Vitebsk. Marc Nerlove earned a B.A. with honors in mathematics in 1952 from the University of Chicago. He moved for graduate work to the Johns Hopkins University, earning in 1955 his M.A. and in 1956 his Ph.D. in Economics, with a dissertation on farmers' response to prices. He held teaching positions at the University of Minnesota (1959–60), Stanford University (1960–65), Yale University (1965–69), the University of Chicago (1969–74), Northwestern University (1974–82) and the University of Pennsylvania (1982–93). Since 1993 he is part of the faculty of the University of Maryland.
A wider known contribution by Nerlove in the field of econometrics is the estimator for the random effects model in panel data analysis, which is implemented in most econometric software packages.
Selected publications
- Balestra, Pietro; ——— (1966). "Pooling Cross Section and Time Series Data in the Estimation of a Dynamic Model: The Demand for Natural Gas". Econometrica. 34 (3): 585–612. JSTOR 1909771.
- Nerlove, Marc (1971). "Further evidence on the estimation of dynamic economic relations from a time–series of cross–sections". Econometrica. 39 (2): 359–382. JSTOR 1913350.