Whitney Kent Newey (born July 17, 1954) is the Jane Berkowitz Carlton and Dennis William Carlton Professor of

Economics Economics () is the social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and intera ...

at the

Massachusetts Institute of Technology 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 ...

and a well-known

econometrician 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� ...

. He is best known for developing, with

Kenneth D. West Kenneth David West (born 1953) is the John D. MacArthur and Ragnar Frisch Professor of Economics in the Department of Economics at the University of Wisconsin. He is currently co-editor of the ''Journal of Money, Credit and Banking'', and has p ...

, the

Newey–West estimator __NOTOC__ A Newey–West estimator is used in statistics and econometrics to provide an estimate of the covariance matrix of the parameters of a regression-type model where the standard assumptions of regression analysis do not apply. It was devi ...

, which robustly estimates the

covariance matrix In probability theory and statistics, a covariance matrix (also known as auto-covariance matrix, dispersion matrix, variance matrix, or variance–covariance matrix) is a square matrix giving the covariance between each pair of elements of ...

of a regression model when errors are

heteroskedastic In statistics, a sequence (or a vector) of random variables is homoscedastic () if all its random variables have the same finite variance. This is also known as homogeneity of variance. The complementary notion is called heteroscedasticity. The s ...

and autocorrelated.

Education and academic career

Newey received his

B.A. Bachelor of arts (BA or AB; from the Latin ', ', or ') is a bachelor's degree awarded for an undergraduate program in the arts, or, in some cases, other disciplines. A Bachelor of Arts degree course is generally completed in three or four years ...

from

Brigham Young University Brigham Young University (BYU, sometimes referred to colloquially as The Y) is a private research university in Provo, Utah. It was founded in 1875 by religious leader Brigham Young and is sponsored by the Church of Jesus Christ of Latter-day ...

in 1978, and his

Ph.D. A Doctor of Philosophy (PhD, Ph.D., or DPhil; Latin: or ') is the most common degree at the highest academic level awarded following a course of study. PhDs are awarded for programs across the whole breadth of academic fields. Because it is a ...

from the

in 1983, under supervision of

Jerry A. Hausman Jerry Allen Hausman (born May 5, 1946) is the John and Jennie S. MacDonald Professor of Economics at the Massachusetts Institute of Technology and a notable econometrician. He has published numerous influential papers in microeconometrics. Haus ...

. From 1983 to 1988, Newey taught at

Princeton University Princeton University is a private university, private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial Colleges, fourth-oldest ins ...

as an assistant professor. He was then promoted to Associate Professor and taught there for another two year from 1988 to 1990. It is also during these two years, he became a Member of Technical Staff, Bell Communications Research. During his time in Princeton University, he published many papers on econometrics. After 7 years in Princeton, he returned to

as a Professor in the department of Economics in 1990 and has been in the department of Economics since then. From 2011 to 2016, he was also the chair of Economics.

References

External links

Newey's faculty page at MIT
* https://www.flickr.com/photos/97630327@N03/9068809425

Publications

* * * * * * * * * {{DEFAULTSORT:Newey, Whitney K. 21st-century American economists MIT School of Humanities, Arts, and Social Sciences faculty Fellows of the Econometric Society Econometricians Living people Fellows of the American Academy of Arts and Sciences 1954 births Brigham Young University alumni MIT School of Humanities, Arts, and Social Sciences alumni