Ray Clarence Fair (born October 4, 1942) is the John M. Musser Professor of

Economics Economics () is the social science that studies the production, distribution, and consumption of goods and services. Economics focuses on the behaviour and interactions of economic agents and how economies work. Microeconomics analyzes ...

Yale University Yale University is a Private university, private research university in New Haven, Connecticut. Established in 1701 as the Collegiate School, it is the List of Colonial Colleges, third-oldest institution of higher education in the United Sta ...

. Fair received his B.A. from Fresno State College in 1964 and his Ph.D. from

MIT The Massachusetts Institute of Technology (MIT) is a private land-grant research university in Cambridge, Massachusetts. Established in 1861, MIT has played a key role in the development of modern technology and science, and is one of the m ...

in 1968. He spent several years at

Princeton University Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the ...

before moving to Yale. He is now a professor within the

Cowles Foundation The Cowles Foundation for Research in Economics is an economic research institute at Yale University. It was created as the Cowles Commission for Research in Economics at Colorado Springs in 1932 by businessman and economist Alfred Cowles. In 193 ...

and the International Center for Finance. Fair's teaching and research interests include

macroeconomic theory Macroeconomics (from the Greek prefix ''makro-'' meaning "large" + ''economics'') is a branch of economics dealing with performance, structure, behavior, and decision-making of an economy as a whole. For example, using interest rates, taxes, and ...

econometrics Econometrics is the application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics," '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8 ...

, and macroeconometric modeling. He is the author, along with Karl Case of Wellesley College, of the economics textbook ''Principles of Economics''. He has also authored several books pertaining to modeling, including ''Testing Macroeconometric Models'' (1994) and ''Estimating How the Macroeconomy Works'' (2004). He is noted for his methods for predicting the outcome of U.S. presidential elections, for which his work has been frequently cited. He published ''Predicting Presidential Elections and Other Things'' on this subject in 2002. Ray Fair maintains a macroeconomic model, data, software and forecasts on his home page and that are also available for free downloading for use on a personal computer. The Fair Model macroeconomic model forecasts for the United States and 38 other countries. His model predicted a Romney victory in 2012 and Trump in 2016.Vox - Why Donald Trump Won
/ref> Fair lives in

New Haven New Haven is a city in the U.S. state of Connecticut. It is located on New Haven Harbor on the northern shore of Long Island Sound in New Haven County, Connecticut and is part of the New York City metropolitan area. With a population of 134,023 ...

Connecticut Connecticut () is the southernmost state in the New England region of the Northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, New York to the west, and Long Island Sound to the south. Its capita ...

. He was married to Sharon Oster, a professor at the

Yale School of Management The Yale School of Management (also known as Yale SOM) is the graduate business school of Yale University, a private research university in New Haven, Connecticut. The school awards the Master of Business Administration (MBA), MBA for Executiv ...

, until her death in 2022. He is the father of

Emily Oster Emily Fair Oster (born February 14, 1980) is an American economist and author. She is currently the JJE Goldman Sachs University Professor of Economics and International and Public Affairs at Brown University, where she has taught since 2015. He ...

, an economist at Brown University.

References

External links

Ray C. Fair Home Page (Yale)
{{DEFAULTSORT:Fair, Ray 1942 births Living people Economists from California Yale University faculty California State University, Fresno alumni Massachusetts Institute of Technology alumni Fellows of the Econometric Society 21st-century American economists