Andrew Hughes Hallett | |
---|---|
Council of Economic Advisers (Scotland) | |
In office 2007–2014 | |
Scottish Fiscal Commission | |
In office 2014–2016 | |
Scottish Growth Commission | |
In office 2016–2019 | |
Adviser for Economic and Monetary Affairs (European Parliament) | |
In office 2015–2019 | |
Personal details | |
Born | London,United Kingdom | 1 November 1947
Died | 31 December 2019 72) | (aged
Education | University of Warwick (BA) London School of Economics (MSc) Nuffield College,Oxford (DPhil) |
Known for | Economic policy and coordination |
Andrew Jonathan Hughes Hallett FRSE (1 November 1947 [1] –31 December 2019 [2] ) was a British economist. He was University Professor of Economics and Public Policy at George Mason University,Senior Research Fellow at Kings College (University of London) and Honorary Professor of Economics at the University of St Andrews [3] [4] [5] He was also a member of the Scottish Growth Commission.
Andrew Hughes Hallett was educated at Radley College. [6] He graduated with a BA (Hons) in economics from the University of Warwick in 1969 and a MSc (Econ) from the London School of Economics in 1971. He was awarded a DPhil in economics by University of Oxford in 1976. [7] [8]
He was a lecturer in economics at the University of Bristol from 1973 to 1977,associate professor of economics at Erasmus University Rotterdam from 1977 to 1985,and David Dale Professor of Economics at Newcastle University from 1985 to 1989. [9] [10] [11] In 1989,Hughes Hallett was appointed Jean Monnet Professor of Economics at the University of Strathclyde in Scotland,a post he held until 2002,when he became Professor of Economics at Vanderbilt University in Tennessee. He was appointed to professorships in Economics and Public Policy at George Mason University and at the University of St Andrews in 2007. In 2016,he became Senior Research Fellow in Economics at Kings College (University of London) and Professor of Economics at the Copenhagen Business School in Denmark. Professor Hughes Hallett was also a visiting professor at Princeton University,Harvard University,Cardiff University,Free University of Berlin,and the Universities of Rome (Sapienza University of Rome),Paris and Milan.
Theory of Economic Policy,Political Economy,Monetary Integration,Sustainable Fiscal Policies,Demographic Change,Fiscal Rules,Monetary Policy,Inter-institutional and Inter-country Policy Coordination;Dynamic Games and Bargaining Models,Regionalism and Federalism,Time Varying Cyclical Decompositions,Numerical Methods in Econometrics.
Scottish Council of Economic Advisers
Andrew Hughes Hallett served as a member from its inauguration in 2007 until after the 2014 Independence Referendum.
Commissioner,Scottish Fiscal Commission
The Fiscal Commission is responsible for scrutinizing and evaluating the government's forecasts for the revenues from devolved taxes,GDP,the implications for public debt and deficits,and to a limited degree recommending improvements if sustainability would be threatened.
Scottish Growth Commission
Charged with designing an economic framework for an independent or financially autonomous Scotland,and policy arrangements to support it.. This includes a system of fiscal rules,debt control,currency choice,a financial regulation system to meet Scotland's needs,trading arrangements under Brexit,growth policies,diversification,a sovereign wealth fund.
Adviser for Economic and Monetary Affairs
Quarterly reports on selected questions in monetary policy,macro-prudential regulation and policy coordination in the Euro-zone economies. Published by the European Parliament's Economics Committee.
An economic and monetary union (EMU) is a type of trade bloc that features a combination of a common market,customs union,and monetary union. Established via a trade pact,an EMU constitutes the sixth of seven stages in the process of economic integration. An EMU agreement usually combines a customs union with a common market. A typical EMU establishes free trade and a common external tariff throughout its jurisdiction. It is also designed to protect freedom in the movement of goods,services,and people. This arrangement is distinct from a monetary union,which does not usually involve a common market. As with the economic and monetary union established among the 27 member states of the European Union (EU),an EMU may affect different parts of its jurisdiction in different ways. Some areas are subject to separate customs regulations from other areas subject to the EMU. These various arrangements may be established in a formal agreement,or they may exist on a de facto basis. For example,not all EU member states use the Euro established by its currency union,and not all EU member states are part of the Schengen Area. Some EU members participate in both unions,and some in neither.
James Joseph Heckman is a Nobel Prize-winning American economist at the University of Chicago,where he is The Henry Schultz Distinguished Service Professor in Economics and the College;Professor at the Harris School of Public Policy;Director of the Center for the Economics of Human Development (CEHD);and Co-Director of Human Capital and Economic Opportunity (HCEO) Global Working Group. He is also Professor of Law at the Law School,a senior research fellow at the American Bar Foundation,and a research associate at the National Bureau of Economic Research. In 2000,Heckman shared the Nobel Memorial Prize in Economic Sciences with Daniel McFadden,for his pioneering work in econometrics and microeconomics. As of December 2020,according to RePEc,he is the second-most influential economist in the world.
In economics and political science,fiscal policy is the use of government revenue collection and expenditure to influence a country's economy. The use of government revenue expenditures to influence macroeconomic variables developed in reaction to the Great Depression of the 1930s,when the previous laissez-faire approach to economic management became unworkable. Fiscal policy is based on the theories of the British economist John Maynard Keynes,whose Keynesian economics theorised that government changes in the levels of taxation and government spending influence aggregate demand and the level of economic activity. Fiscal and monetary policy are the key strategies used by a country's government and central bank to advance its economic objectives. The combination of these policies enables these authorities to target inflation and to increase employment. Additionally,it is designed to try to keep GDP growth at 2%–3% and the unemployment rate near the natural unemployment rate of 4%–5%. This implies that fiscal policy is used to stabilise the economy over the course of the business cycle.
Jan Tinbergen was a Dutch economist who was awarded the first Nobel Memorial Prize in Economic Sciences in 1969,which he shared with Ragnar Frisch for having developed and applied dynamic models for the analysis of economic processes. He is widely considered to be one of the most influential economists of the 20th century and one of the founding fathers of econometrics.
The Lucas critique,named for American economist Robert Lucas's work on macroeconomic policymaking,argues that it is naive to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data,especially highly aggregated historical data. More formally,it states that the decision rules of Keynesian models—such as the consumption function—cannot be considered as structural in the sense of being invariant with respect to changes in government policy variables. The Lucas critique is significant in the history of economic thought as a representative of the paradigm shift that occurred in macroeconomic theory in the 1970s towards attempts at establishing micro-foundations.
David Kenneth Miles is a British economist. Born in Swansea,he has spent his working life in London,in teaching,business and the public sector. He is a professor at Imperial College London,and was Chief UK Economist of Morgan Stanley bank from October 2004 to May 2009. He was appointed to the Bank of England's interest-rate-setting Monetary Policy Committee (MPC) from 1 June 2009 to June 2012 and again from June 2012 to 31 August 2015,before being replaced by Gertjan Vlieghe. According to the Bank of England,"As an economist he has focused on the interaction between financial markets and the wider economy.". In December 2020 he was appointed to the main board of the central Bank of Ireland. He was appointed to the Budget Responsibility Committee of the Office for Budget Responsibility (OBR) in December 2021. He took up that role in January 2022.
Thomas John Sargent is an American economist and the W.R. Berkley Professor of Economics and Business at New York University. He specializes in the fields of macroeconomics,monetary economics,and time series econometrics. As of 2020,he ranks as the 29th most cited economist in the world. He was awarded the Nobel Memorial Prize in Economics in 2011 together with Christopher A. Sims for their "empirical research on cause and effect in the macroeconomy".
Olivier Jean Blanchard is a French economist and professor who is a senior fellow at the Peterson Institute for International Economics. He was the chief economist at the International Monetary Fund from September 1,2008,to September 8,2015. Blanchard was appointed to the position under the tenure of Dominique Strauss-Kahn;he was succeeded by Maurice Obstfeld. He is also a Robert M. Solow Professor of Economics emeritus at the Massachusetts Institute of Technology (MIT). According to IDEAS/RePEc,he is one of the most cited economists in the world.
Marian Patricia Bell is a British consultant economist,and was a member of the Bank of England's Monetary Policy Committee from June 2002 to June 2005.
Sir Timothy John Besley,is a British academic economist who is the School Professor of Economics and Political Science and Sir W. Arthur Lewis Professor of Development Economics at the London School of Economics (LSE).
James Harold Stock is an American economist,professor of economics,and vice provost for climate and sustainability at Harvard University. He is co-author of Introduction to Econometrics,a leading undergraduate textbook,and co-editor of the Brookings Papers on Economic Activity. Stock served as a Chair of the Harvard Economics Department from 2007 to 2009 and as a member of President Obama's Council of Economic Advisers from 2013 to 2014.
Sir Vito Antonio Muscatelli is the Principal of the University of Glasgow and one of the United Kingdom's top economists.
Anne Osborn Krueger is an American economist. She was the World Bank Chief Economist from 1982 to 1986,and the first deputy managing director of the International Monetary Fund (IMF) from 2001 to 2006. She is currently the senior research professor of international economics at the Johns Hopkins School of Advanced International Studies in Washington,D.C. She also is a senior fellow of Center for International Development and the Herald L. and Caroline Ritch Emeritus Professor of Sciences and Humanities' Economics Department at Stanford University.
Christina Duckworth Romer is the Class of 1957 Garff B. Wilson Professor of Economics at the University of California,Berkeley and a former chair of the Council of Economic Advisers in the Obama administration. She resigned from her role on the Council of Economic Advisers on September 3,2010.
Robert Wayne Clower was an American economist. He is credited with having largely created the field of stock-flow analysis in economics and with seminal works on the microfoundations of monetary theory and macroeconomics.
Disequilibrium macroeconomics is a tradition of research centered on the role of disequilibrium in economics. This approach is also known as non-Walrasian theory,equilibrium with rationing,the non-market clearing approach,and non-tâtonnement theory. Early work in the area was done by Don Patinkin,Robert W. Clower,and Axel Leijonhufvud. Their work was formalized into general disequilibrium models,which were very influential in the 1970s. American economists had mostly abandoned these models by the late 1970s,but French economists continued work in the tradition and developed fixprice models.
Monika Piazzesi received her PhD in economics at Stanford University. She was a recipient of the Deutsche Studienstiftung ERP (1997-2000). She has been the Joan Kenney Professor of Economics at Stanford University since 2010. She is also a senior fellow at the Stanford Institute for Economic Policy Research. In 2005,when she was an assistant professor at the University of Chicago Business School,she received the Germán Bernácer Prize. She subsequently won the Elaine Bennett Research Prize. Her research focuses on asset pricing and time series econometrics,especially related to bond markets and the term structure of interest rates. She has published papers related to housing issues,asset prices and quantities,bond markets,interest rate and GDP.
Nicola Acocella is an Italian economist and academic,Emeritus Professor of Economic Policy since 2014.
Jürgen von Hagen is a German economist and professor at the University of Bonn,where he currently also serves as director of the Institute for International Economic Policy. He was awarded the Gossen Prize in 1997.
Andrew Chesher,FBA is a British economist and the William Stanley Jevons Professor of Economics and Economic Measurement at the Department of Economics,University College London and Director of the ESRC Centre for Microdata Methods and Practice (CeMMAP) at the Institute for Fiscal Studies. He is a Fellow of the Econometric Society,Foreign Honorary Member of the American Economic Association,and Fellow of the British Academy where he chaired its Economics and Economic History Section from 2009 to 2012. Additionally,Chesher was the President of the Royal Economic Society from 2016-2018 and from 2001 to 2005 he was Chair of the Economic and Social Research Council's Research Grants Board.