In Memory of Professor
Rolf R. Mantel
Víctor
J. Elías
I met Rolf for the first time in 1964, when he was visiting, together
with Any Martirena and Mario Brodersohn, the Department of Economics
of the University of Chicago. The meeting took place at the elevator
going to the fourth floor of the Social Sciences building. Rolf
and Any were at the last stage of their Ph D graduation at Yale
University.
From since
on I was in close touch with him, in spite of him being in a theoretical
field and I, in an empirical one. Because of this we had an unequal
trade, as he could explain more things in economics than I could
transmit to him. Being a friend of Rolf was having the frontier
of knowledge constantly at one's face, raising our targets in
our daily work and having an understanding of what the meaning
of the utmost academic level is. Everything about his conversation
was informative and with a touch of scientific humor, which forced
you to be extremely alert in order not to lose any detail of his
message.
Rolf dedicated
entirely to his scientific work, and he managed to maintain an excellent
relationship with his colleague and wife Any, and thereafter with
his son Pablo and fiancée. In addition to that, he had an extraordinary
bias toward argentine economists, spending all of his time to make
comments, give help and support to the development of economic departments
throughout Latin America. The impact of his personality had reflected
on his funeral at the British cemetery in Buenos Aires, where a
great deal of argentine economists and his most recent students
were present. It is as if, by having a quick burial without a wake
- his own wish - Rolf would express his desire of gathering all
of us to bear him farewell.
Rolf's interest
for economics awakened in the advanced seminars directed by Professor
Julio H. G. Olivera at the Faculty of Economic Sciences of the University
of Buenos Aires. There, he was part of a group with Any Martirena,
Guillermo Calvo, Héctor Diéguez, Arturo O'Connell, Morris Teubal
among others. He then got his Ph D at the University of Yale in
New Haven, United States. Any, Guillermo Calvo, Elías Salama and
Jorge Sakamoto were also there. His teachers at Yale were Tjalling
Koopmans, Herbert Scarf, Marc Nerlove, James Tobin. Returning to
Argentina, he entered the new Torcuato Di Tella Institute, and kept
tight contact with Miguel Sidrauski and Morris Teubal, who were
already active from Chicago.
In Argentina
Rolf had an active participation in the development of centres of
research and departments of economics in several universities. In
the Centre of Economic Research at the Di Tella Institute he integrated
the group of what we could call the first generation, among whom
were Guido Di Tella, Javier Villanueva, Adolfo Canitrot, Mario Brodersohn,
Alieto Guadagni, José M. Dagnino Pastore, Héctor Diéguez, Eduardo
Zalduendo, Felipe Tami, Federico Herschel, Julio Berlinski, Alberto
Petrecolla, Jorge Sakamoto and Any. At the same time he was teaching
economics at the Argentine Catholic University, where he had helped
shape many fellow students.
He was then
attracted to the Centre for Macroeconomic Research of Argentina
(CEMA) created by Pedro Pou. There he analyzed economic issues with
Carlos Rodríguez, Roque Fernández, Osvaldo Schenone, Víctor Yohai
and Pedro. He was a professor at the Faculty of Economic Sciences
of the University of Buenos Aires in several opportunities. In the
end he was "acquired" by the University of San Andrés, where as
Director of the Departments of Economics and Mathematics he had
a strong leadership and attracted such people as Roberto Cortés
Conde, Osvaldo Schenone, George MacCandless, Victor Yohai, Mariano
Tommasi and others, including several economists teaching in various
fields. There he stimulated the creation of a postgraduate program
after bringing to a prestigious level the Degree in Economics. He
entered the National Academy of Economic Sciences as Full Member
in 1983, replacing Dr. Carlos S. Brignone, where he gave impetus
to its Institute of Economics and attracted a new generation of
argentine economists. He was elected as First Vice-president of
the Academy in 1998. He received tempting new proposals during the
last year.
The academic
life of Rolf was at the highest international level. He was invited
researcher at the Universities of Harvard, Chicago, and Northwestern
and in the Faculty of Mathematical sciences at the Weizman Institute
of Sciences. He presented papers in several advanced workshops in
his fields of work, with the participation of leaders in all those
fields, such as Debreu, Sonnenschein, MacFadden and Mas-Colell,
at the Universities of California in Berkeley and of Massachusetts.
He was guest speaker in the Third World Congress of the Econometric
Society and in several Latin American Regional Meetings of the same
Society. He actively participated in practically every annual meeting
of the Argentine Association of Political Economy since 1964. His
work was published in the leading international journals on economic
theory, as the Journal of Economic Theory, Journal of Mathematical
Economy, International Economic Review, Econometrica, The Review
of Economic Studies. He contributed several articles to the argentine
meetings organized by the Central Bank, the National University
of La Plata, the National University of Tucumán and to those sponsored
by the Central Bank of Uruguay.
Rolf made several
important contributions to the economic science, all of them aiming
at relevance and applicability. Many of them he pursued throughout
his life. In the general equilibrium area he found a constructive
proof on the existence of equilibrium, in the sense that calculation
is feasible. On economic growth he was ahead of time when he showed
the important role of initial conditions under a variable rate of
intertemporal preference in models of optimal growth, making possible
to predict the kind of economic convergence to be expected between
poor, intermediate and rich countries. He demonstrated a theorem
of equilibrium under increasing returns to scale, anticipating models
of endogenous growth of the eighties. He also gave criteria of optimal
economic development useful for welfare analysis. He derived conditions
to define an aggregate excess demand function, useful for comparative
statics purposes, named thereafter the Sonnenschein-Mantel-Debreu
Theorem. He developed general forms of production functions taking
as a starting point the elasticity of substitution.
Any influenced
him to dedicate some of his time to international economics. Hence
they showed that economic integration does not necessarily lead
to a zero tariff, and analyzed the effects of integration on the
income distribution. In other paper they worked out the social measurement
of benefits under integration. They analyzed the advantages of exchange
policies of the "crawling peg" type and its optimal alternatives.
He alone, by inertia, developed the case of an optimum tariff for
small economies and the implications of war of tariffs. In the field
of public finance he also evolved the conditions for a general equilibrium
under taxes and the conditions for optimal taxes.
Living in Argentina
he could not help but thinking about stability, and he analyzed
optimal policies for stabilization and the effects of the interest
rate policies on the firm under inflation. He also analyzed the
interactions between the informal economy and the external indebtedness.
While he was assisting the Ministry of Economics he developed formal
models for economic planning and optimal planning with unknown preferences.
Economic behavior under uncertainty and game theory were also subjects
of his interest from the very beginning of his academic life. He
was attracted to computational questions and developed software
for problem solving. He only failed to generate his own computer
as Guy Orcutt did. He also showed his econometric expertise introducing
methods for estimating systems of demand equations.
Rolf received
many awards in the course of his academic life. In 1976 he was named
Fellow of the Econometric Society for his important theoretical
discoveries in the field of general equilibrium and economic growth,
being the first Latin American to receive such honor. Since then
he maintained a long, very close relationship with this international
society, being the link between the Society and Latin America. Then,
by resolution of the President L. McKenzie, he created, together
with Marc Nerlove, Arnold Harberger and John Chipman the Latin American
chapter. Rolf presided the first Committee and organized the first
Latin American congress in 1980 in Buenos Aires. The next meeting
Nr. 17 will take place in Mexico, being this the main Latin American
meeting on economics. For many years he was member of the Council
of the Society and associated editor of the prestigious journal
Econometrica. He was awarded the Bunge y Born prize in Economics
in 1993, the most important prize in this field in Argentina. He
received a Guggenheim award and the Konex prize in 1996. He was
a Senior Researcher of the Conicet, in its maximum category. He
was President of the Argentine Association of Political Economy.
The National University of Tucumán awarded him with the mention
of Doctor in Honoris Causa for his contributions to economic theory
and continuous support of the academic development of his Faculty
of Economic Sciences.
Rolf was more
a Mathematical Economist than a Mathematician inclined to Economics.
I always remember him saying that the key for discovering a theorem
with economic sense was to investigate at least another two hundred.
He always had a mathematical bias when searching to economize on
sufficient conditions for demonstrating theorems. As Irving Fisher
and John Maynard Keynes he also engaged in financial investments
to prove the soundness of his economic guesses. He made even profits
investing with some colleagues in the seventies. But Rolf loved
uncertainty only in theoretical models, retired early from the market,
and could not obtain higher than normal profit rates.
As a couple
Rolf and Any remind us of the very few couples where both, husband
and wife, are notable scientists. They attained the adequate relationship
as such, as parents and friends and colleagues in scientific activity.
They contributed many co-authored papers keeping themselves to their
preferred fields.
With Rolf's
passing our country and Latin America lose an international reference
difficult to be replaced. His academic stature is more clearly appreciated
after knowing who were his teachers, his mates at the university,
his colleagues and his graduate students. In all these groups first-class
economists emerge. We are all very much obliged to him for all the
work he accomplished in developing an Economic Science in Latin
America with international standards. He laid out truths that will
remain with us forever. His home, with Any and his son, was an amicable
place for all the colleagues. As was rightly asserted at his funeral
by the President of the National Academy of Economic Sciences, Doctor
Julio C. Cueto Rúa, Rolf was the friend of friends and irradiated
a warm feeling of peace, a strange feeling amid arduous academic
disputes.
When Harry Johnson
died, Paul Samuelson said that he was envious of someone leaving
so many works already finished and so many projects in process with
such a creative impulse. The same is applicable to Rolf Mantel.
And for a long time, the feeling that he is still among us will
prevail.
February 19, 1999
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