Macroeconomist Lance Taylor, whose research focused on the interaction of growth, stability and income and who contributed to the development of modern computable general equilibrium models, has died at the age of 82.
Over the course of his career, he held senior academic appointments at Harvard University and MIT, and since the early 1990s at the Center for Economic Policy Analysis at the New School for Social Research.
At The New School, Taylor was Arnhold Professor of International Cooperation and Development and director of the Center for Economic Policy Analysis, before more recently stepping back into an emeritus professor role.
Taylor is most widely known for his structural approach to macroeconomics, as part of which he examined distributive relationships across productive sectors and social groups. Much of his work focused on government management of resources in developing economies.
In 2015, he was awarded the Leontief Prize from the Global Development And Environment Institute at Tufts University for his work on the long-term economic impacts of rising greenhouse gas emissions.
Taylor in 2010 wrote Maynard’s Revenge: The Collapse of Free Market Macroeconomics, which was published by Harvard University Press.
In a note on Twitter, the Schwartz Center, an economic policy think tank at The New School, said: “We are saddened to learn of Lance Taylor’s passing. His influence, in the field and among his students, will live on, and we are grateful for everything we learned from him.”