Peter J. Klenow

Peter J. Klenow is the Landau Professor of Economics at Stanford University and a Gordon and Betty Moore Fellow at the Stanford Institute for Economic Policy Research (SIEPR). He serves as a Research Associate at the National Bureau of Economic Research (NBER) where he co-directs the Economic Fluctuations and Growth program, and acts as a consultant to the Federal Reserve Bank of Minneapolis.

Professor Klenow specializes in macroeconomics with particular emphasis on productivity measurement, economic growth, and price dynamics. His groundbreaking research focuses on creative destruction and how innovation-driven firm turnover contributes to economic growth that traditional measurement methods often miss. He has extensively studied resource allocation across firms, the impact of new product introduction on productivity measurement, and the relationship between business dynamism and economic growth.

His recent publications analyze how imputation methods affect Total Factor Productivity (TFP) measurement and investigate the relationship between R&D misallocation and growth. Professor Klenow's work demonstrates that declining business dynamism in the United States has contributed significantly to slower productivity growth.

• Member of the American Academy of Arts and Sciences
• Fellow of the Econometric Society
• Gordon and Betty Moore Fellow

Professor Klenow currently serves as co-Editor of Econometrica, one of the most prestigious journals in economics, having previously served as co-Editor for American Economic Review: Insights. His research is supported through his NBER affiliation and Stanford position, with significant influence on how economists measure and understand economic growth dynamics. While not leading a specific named research lab, his work through the NBER's Economic Fluctuations and Growth program coordinates a substantial research agenda involving numerous economists studying innovation, productivity, and growth.