The New Palgrave Dictionary of Economics

2018 Edition
| Editors: Macmillan Publishers Ltd

Metzler, Lloyd Appleton (1913–1980)

  • George Horwich
  • John Pomery
Reference work entry


Metzler was born in Lost Springs, Kansas and took AB and MBA degrees at the University of Kansas. He was one of a long line of brilliant students that John Ise sent to Harvard, where Metzler arrived in 1937. He served as an instructor and tutor, receiving his Ph.D. in 1942. From 1943 to 1946 he held a number of positions with government agencies in wartime Washington, including the Office of Strategic Services, several economic policy and planning commissions, and, from 1944 to 1946, with the research staff of the Board of Governors of the Federal Reserve System. From 1946 to 1947 he was a member of the economics department of Yale University. In 1947 he joined the department at the University of Chicago, where he remained until his death. His health declined in the early 1950s; removal of a brain tumour in 1952 left him with a markedly reduced energy level. He continued to teach and produced an occasional paper for the next 20 years.


Dynamic stability Flexible exchange rates Gross substitutes Income determination Inventory cycles Inventory investment Laursen–Metzler effect Matrix theory Metzler matrix Metzler paradox Metzler, L. A. Optimal tariffs Perfect stability Propensity to consume Purchasing power parity Real balances Stability Tariffs Terms of trade Transfer problem Wealth effect 

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Copyright information

© Macmillan Publishers Ltd. 2018

Authors and Affiliations

  • George Horwich
    • 1
  • John Pomery
    • 1
  1. 1.