Richard F. Engle

Richard F. Engle was an influential American statistician known for his work in forecasting and time series analysis. He invented the "Engle's ARCH (Autoregressive Conditional Heteroskedasticity)" model, which helps economists and financial analysts predict and understand changing variances in data, such as stock market volatility. His methods improve risk management and financial modeling by capturing periods of high and low volatility more accurately. Engle’s contributions have had a lasting impact on economics, finance, and econometrics, earning him the Nobel Prize in Economic Sciences in 2003.