Master of Science (Social Sciences) Uppsala University, 1953. Doctor of Philosophy University Stockholm, 1963.
Swedish Treasury Department,
6. Visiting Assistant Professor, University Michigan, 1958. Lector, Reader, University Stockholm,
Professor, Stockholm School Economics, 1964-1971. Wesley Clair Mitchell Research Professor, Columbia University, 9. Ford Rotating Research Professor, University California, 1969.
Visiting Fellow, National University Canberra, 1970. Irving Fisher Visiting Professor, Yale University, 1976-1977. Visiting Scholar, Simon Fraser University, 1981.
Chairman, Nobel Prize Committee Economics. Expert Consultant Swedish Government, Sveriges Riksbank, Organisation for Economic Co-operation and Development, World Bank, United Nations Conference on Trade and Development, UNIDO. Professor, Director, Institute, Institution International Economics Studies, University Stockholm, Sweden, since 1971.
Editorial Board, J. Economics Systems, 1977-1981, Journal of International Economics, since 1971, Ekonomisk Debatt, 1973.
Development and empirical application on Swedish data of methods to analyse direct (impact) effects on aggregate demand of discretionary and automatic fiscal policies without using complete econometric model — a simplified version (with unweighted effects) being estimates of ‘full employment budget surpluses’ (1956). Early demonstration, in A Study in Monetary Analysis, of how demand functions in terms of relative prices are transformed into a Keynesiantype aggregate demand function in terms of disposable income if income is constrained by involuntary unemployment. Explanation of credit rationing as the consequence of the attitudes of lenders towards risk as there is risk associated not only with the principal of a loan but also with the interest.
Demonstration that changes in initial wealth holdings exert a weaker influence on demand for products than do changes in income (both with the same capital value) if preferences between consumption and wealth are endogenous in the sense that the marginal evaluation of wealth relative to consumption rises by higher initial wealth holdings. Analysis of the effects of alternative mixes of monetaryfiscal policy in two-period models, emphasising the distinction between temporary and permanent changes in various parameters and variables. Treatment of economic systems as a multidimensional phenomenon, and within that framework an analysis of changes over time in the functioning of the Western economic system, as well as of the political economy of the New Left.
Economic problems of the national State in a strongly internationalised world economy. Study of theories and problems of Swedish economic development and policy, in particular after World War II. Attempts to endogenise the behaviour of economic policy (‘endogenous politicians’) in the context of stabilisation policy (‘political business cycles’) and distribution policy. Currently working on wage formation, involuntary unemployment, macroeconomic deficits and welfare-state problems.