description Zvi Griliches Overview
Zvi Griliches was a highly influential Lithuanian-American economist who lived from 1930 to 1999. He spent much of his career at Harvard University, where he served as chair of the economics department and made pioneering contributions to the empirical measurement of technological change and productivity. Griliches is particularly famous for developing and applying hedonic price indexes, which adjust for changes in product quality to provide more accurate inflation measurements. His rigorous econometric methods transformed how economists analyze the returns to research and development.
insights Ranking position
Zvi Griliches ranks #124 of 253 in the Economist ranking, behind Emi Nakamura, ahead of Markus Brunnermeier.
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What was Zvi Griliches's most famous research contribution?
Zvi Griliches made pioneering contributions to the empirical measurement of technological change. His 1957 dissertation on the diffusion of hybrid corn demonstrated how agricultural innovations spread, forming the basis for the economics of innovation.
Where did Zvi Griliches spend his academic career?
He spent much of his prolific career at Harvard University, where he served as the chair of the economics department. Prior to joining Harvard in 1969, he taught at the University of Chicago.
How did Zvi Griliches change the way economists measure inflation?
Griliches developed sophisticated techniques for creating "hedonic price indexes" to adjust for quality changes in goods like automobiles and computers. This allowed economists to separate pure price inflation from price increases driven by product improvements.
When did Zvi Griliches live?
Zvi Griliches was a highly influential Lithuanian-American economist who lived from 1930 to 1999. He survived the Holocaust in Europe before eventually moving to the United States and becoming a U.S. citizen.
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