Ta-Chung Liu

Ta-Chung Liu (Chinese: 劉大中; October 27, 1914 – August 14, 1975) was a Chinese American economist and econometrician. He was a professor of economics at Johns Hopkins University and Cornell University.[1] During his time at Cornell, he mentored Robert F. Engle, an econometrician who later won the Nobel Prize in Economics.

Ta-Chung Liu
Born(1914-10-27)October 27, 1914
Peking, China
DiedAugust 14, 1975(1975-08-14) (aged 60)
Ithaca, New York
Alma materCornell University
Scientific career
FieldsEconometrics
InstitutionsJohns Hopkins University
Cornell University
Doctoral advisorDonald English
Doctoral studentsRobert F. Engle

He was also an influential advisor to the Taiwanese government on economic policy. He was awarded the Order of Brilliant Star, second rank, for his contributions to the country's development.[2]

Biography

Born in Peking on October 27, 1914, he earned a degree in civil engineering from the Chiao Tung University (Chinese: 交通大学) in 1936.[3] He initially went to Cornell University to study railway engineering. Influenced by Fritz Machlup, he switched to economics. Liu earned a PhD in 1940 under Donald English.[4] His dissertation was titled A Study in the Theory of Planning by the Individual Firm under Dynamic Conditions.[5]

In 1947 he went back to Peking to work as professor of economics at National Tsing Hua University. He left China again in 1948 to avoid the communist revolution.

He was a lecturer at Johns Hopkins University until 1958.

In the 1950s and 60s, Liu criticized the "Cowles Commission method" of structural equation modelling and advocated reduced form estimation instead,[6] foreshadowing Christopher Sims' VAR method of 1980.[7][8]

Both Liu and his wife died by suicide in 1975.[8] He died at the Tompkins County Hospital in Ithaca, New York on August 14, 1975.[3][9] A book, Quantitative Economics and Development: Essays in Memory of Ta-Chung Liu, was published in his honor by his colleagues.[10]

Taiwanese economics
Further information: Economic history of Taiwan § Modern history

Liu had a close working relationship with the government of Taiwan, consulting high ranking members of politics on economic policy. He served for several years as President Chiang Kai-shek's chief economic adviser in the 1960s.[8] Together with his colleague at Cornell Sho-Chieh Tsiang, he advocated against central planning and for creating an environment that encouraged private enterprises to compete on world markets.

Liu took a leave from Cornell University in the 1969 academic year to serve as chairman of the Commission for Tax Reform for the Taiwanese Government.[11]

He also helped establish the first PhD program in Economics at National Taiwan University.

Works

Books
  • Analysis of stresses in railway track, 1937
  • Manufacturing Production Functions in the United States (with George H. Hildebrand), 1957
  • The Economy of the Chinese Mainland (with Kung Chia Yeh)
  • Economic Trends in Communist China
gollark: Wait, someone used it in a serious context? Oh no.
gollark: And it's really completely arbitrary to say "Machine code has performance. Lambda calculus doesn't". Machine code on its own doesn't. Machine code as implemented by whatever processor does.
gollark: No, C is a language specified on its own which doesn't have to be compiled to machine code.
gollark: C is a mathematical model. The concept of speed doesn't exist for it.
gollark: Rust you, you Golang.

References
  1. Klein, L. R.; Nerlove, M.; Tsiang, S. C. (1977). "Ta-Chung Liu, 1914–1975". Econometrica. 45 (2): 527–529. JSTOR 1911227.
  2. Lamoureux, Jeffrey. "Institute Marks 100th Anniversary of Ta-Chung Liu". University of Chicago. Retrieved 10 December 2018.
  3. "Memorial Statement for Professor Ta-Chung Liu" (PDF). Cornell University. Retrieved 10 December 2018.
  4. The Econometric Practice of Ta-Chung Liu
  5. "Ta-Chung Liu". Mathematics Genealogy Project. Retrieved 10 December 2018.
  6. Liu, Ta-Chung (1960). "Underidentification, Structural Estimation, and Forecasting". Econometrica. 28 (4): 855–865. JSTOR 1907567.
  7. Qin, Duo (1993). The Formation of Econometrics: A Historical Perspective. New York: Oxford University Press. pp. 161–163. ISBN 0-19-828388-1.
  8. Chao, Hsiang-Ke; Huang, Chao-Hsi (2011). "Ta-Chung Liu's Exploratory Econometrics". History of Political Economy. 43 (Suppl 1): 140–165. doi:10.1215/00182702-1158709.
  9. "TA‐CHUNG LIU". New York Times. August 17, 1975. Retrieved July 18, 2020.
  10. L. R. Klein; M. Nerlove; S. C. Tsiang (12 May 2014). Quantitative Economics and Development: Essays in Memory of Ta-Chung Liu. Elsevier Science. ISBN 978-1-4832-7161-3.
  11. "TA‐CHUNG LIU". New York Times. 17 August 1975. Retrieved 10 December 2018.
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