Professor Sir David F. Hendry appointed Honorary Doctor of Aarhus University

After collaborating for a number of years with one of the world’s most influential living econometricians, Aarhus University appoints Professor Sir David F. Hendry of Oxford University as Honorary Doctor.

Professor Sir David F. Hendry is one of the world’s most influential and respected living econometricians. He has published over 300 journal articles, many of which are widely cited internationally, and he has written a number of seminal books in his field. Hendry’s work is predominantly concerned with the development of a coherent methodological approach to the econometrics of time series. General-to-specific modelling is an important aspect of his influential empirical econometric methodology, which is generally known to economists all over the world as the Hendry/LSE approach.


His research has helped make this approach more widespread and easier to apply, both through publicly available software packages for applying the method to data (such as PcGive and PcGets) and the publication of important empirical case studies.


Hendry’s best-known work concerns the so-called ‘consumption function’, which calculates the amount of total consumption in an economy. Hendry’s description of consumption over time demonstrates that changes in consumption from one period to the next are not only dependent on changes in income, but are also dependent on the relationship (the logarithmic difference) between consumption and income in the previous period – that is to say the previous deviation from equilibrium. As economic series progress, they correct the deviations from equilibrium of previous periods.


Hendry has visited Aarhus University numerous times over the years. He participated in the major conferences organised by the Department of Economics at the Sandbjerg Estate in 1986 in connection with its 50th anniversary and more recently at conferences in 2007 and 2009 organised by CREATES (Center for Research in Econometric Analysis of Time Series) and funded by the Danish National Research Foundation. He has collaborated with researchers from Aarhus in several respects and has co-edited books and a special volume of the Oxford Bulletin of Economics and Statistics including themes like non-linear econometric modelling, model selection and evaluation. Hendry is a highly respected colleague and a good friend of several researchers at the Department of Economics and Business and CREATES.  


During his present stay at Aarhus University and in connection with his appointment as Honorary Doctor, David F. Hendry will give the lecture "Semi-automatic Non-linear Model Selection" at The Department of Economics and Business on Thursday 12 September 14.15-15.15 in room L242 Fuglesangs Allé 4. 


Sir David Forbes Hendry – CURRICULUM VITAE

Professor, Department of Economics, University of Oxford


Education and appointments:

2010 -            Director, Programme in Economic Modelling, Institute for New Economic Thinking

                     at the Oxford Martin School

2008 -            Member, Advisory Panel on Foresight for Chief Scientific Adviser to HM Government

2001 - 2007    Chairman, Economics Department, University of Oxford

1982 -            Professor of Economics and Fellow of Nuffield College, University of Oxford

1970              PhD, London School of Economics

1967              MSc (Distinction) Econometrics, London School of Economics

1966              MA (First Class Honours) Economics, University of Aberdeen

Selected prizes and honours:

2012              Academician of the Academy of Social Sciences

2012              Isaac Kerstenetzky Scholarly Achievement Award

2009              Knight Bachelor, HM The Queen’s Birthday Honours List

2009              Honorary Doctorate, Carlos III University, Madrid

2006              Honorary Doctorate, University of Lund

2003              One of the world’s 200 most cited economists, ISI (

2002              Fellow, Royal Society of Edinburgh

2002              Honorary Doctorate, St. Andrews University

2001              Honorary Doctorates, St. Gallen University and Norwegian University of Science and                                              Technology

2001              Honorary Fellow, International Institute of Forecasters

1998              Honorary Doctorate, Nottingham University

1995              Honorary Vice-President, Royal Economic Society

1994              Foreign Honorary Member, American Academy of Arts and Sciences

1991              Foreign Honorary Member, American Economic Association

1987              Honorary Doctorate, Aberdeen University

1987              Fellow, British Academy

1986              Guy Medal in Bronze, Royal Statistical Society

1975              Fellow, Econometric Society