meaning that I would supervise

three or four students at a time.

It is unquestionably true that I

had the privilege of supervising a

majority of ¬rst-rate dissertations,

by students who remained active

in research and have acquired

notoriety. When I retired from

teaching in 1989, 19 out of these

20 Louvain Ph.D.™s were active

in research. Many, but by no

means all of them worked in areas

where I had made a research in-

vestment myself. Some of them

introduced me to areas new to

me: general equilibrium theory

with Jean Gabszewicz in the mid-

sixties, or disequilibrium econo-

metrics with Henri Sneessens in

the late seventies. In all cases, I

learned a lot from them, and I

remain most grateful. In 1989,

I made the mistake of giving up

Figure 13.7 With another kind Ph.D. supervision, a mistake that

of big ¬sh, April 1995: underway I regret to this date. I mention

from Panama to Galapagos during

this for the bene¬t of other early

circumnavigation under sail with wife

retirees. There is no doubt that

Monique.

my work in Bayesian econometrics

or in empirical estimation of

macroeconomic models with rationing, for instance, was substantially

extended by my students, and enriched through interaction with them. A

majority of these Ph.D. students had taken courses from me here, so the

transition to a thesis topic was natural. I would not describe it as “tech-

nological,” but it illustrates the virtue of including in taught courses

some visions of the research frontier. Remembering your student days

and looking at both your careers, I feel grati¬ed!

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