The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Haavelmo, Trygve (1911–1999)

  • Agnar Sandmo
Reference work entry


Haavelmo was born in Skedsmo, Norway. He graduated from the University of Oslo in 1933 and joined Ragnar Frisch’s newly created Institute of Economics as a research assistant. He spent the war years working for the Norwegian government in the United States. After a year’s stay at the Cowles Commission at the University of Chicago, he returned to Norway in 1947, becoming professor of economics at the University of Oslo in 1948. He retired from his chair in 1979. In 1989 he was awarded the Nobel Memorial Prize in Economics, the Nobel citation referring to ‘his clarification of the probability theory foundations of econometrics and his analyses of simultaneous economic structures’.


Balanced budget multiplier Capital theory Econometrics Haavelmo, T. Inequality (global) Investment theory Neoclassical theory of capital accumulation Probability 

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© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • Agnar Sandmo
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