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The Friedman rule is a monetary policy rule proposed by Milton Friedman. Essentially, Friedman advocated setting the nominal interest rate at zero. According to the logic of the Friedman rule, the opportunity cost of holding money faced by private agents should equal the social cost of creating additional fiat money. It is assumed that the marginal cost of creating additional money is zero. Therefore, nominal rates of interest should be zero. In practice, this means that the central bank should seek a rate of deflation equal to the real interest rate on government bonds and other safe assets, to make the nominal interest rate zero.
Sir Angus Stewart Deaton is a British-American economist and academic. Deaton is currently a Senior Scholar and the Dwight D. Eisenhower Professor of Economics and International Affairs Emeritus at the Princeton School of Public and International Affairs and the Economics Department at Princeton University. His research focuses primarily on poverty, inequality, health, wellbeing, and economic development.
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The Regional Economics Applications Laboratory (REAL) at the University of Illinois at Urbana-Champaign is a regional science research center for advanced graduate students in the fields of economics, geography, urban and regional planning, computer science and mathematics. Professor Geoffrey J.D. Hewings, one of its founders, served as its director until 2016. Professor Sandy Dall'erba has been its director since 2016.
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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.
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Francine Dee Blau is an American economist and professor of economics as well as Industrial and Labor Relations at Cornell University. In 2010, Blau was the first woman to receive the IZA Prize in Labor Economics for her "seminal contributions to the economic analysis of labor market inequality." She was awarded the 2017 Jacob Mincer Award by the Society of Labor Economists in recognition of lifetime of contributions to the field of labor economics.
Ernest Ludlow Bogart was an American economist. He was a professor of economics at the University of Illinois at Urbana–Champaign from 1909 to 1938. In 1931, he served as President of the American Economic Association.
Mark Daniel Bernhardt is an American-Canadian economist, focusing in industrial organization, finance and political economy, currently the IBE Distinguished Professor of Economics at University of Illinois. Bernhardt is also a Professor at the University of Warwick. Prior to being a professor at the University of Illinois, Bernhardt was a professor at Queen's University in Kingston, Ontario. While at Queen's University he was also the head coach of the wrestling team. Bernhardt graduated from Oberlin College in 1980 with degrees in Mathematics, and Economics. He was also on the school's wrestling team. At Oberlin, Bernhardt was roommates with country singer, Marc Cohn. After leaving Oberlin College, Bernhardt went on to get his PHD in Economics from Carnegie Mellon University in Pittsburgh, Pennsylvania. There, Bernhardt was classmates with current president and chief executive officer of the Federal Reserve Bank of Chicago, Charles L. Evans, and billionaire hedge-fund manager, David Tepper. In 1986, Bernhardt was the recipient of The Alexander Henderson Award for Excellence in Economic Theory. Bernhardt is a registered independent who consistently votes for Democratic candidates, however Bernhardt voted for Gerald Ford in the 1976 United States presidential election, and for Judy Baar Topinka in the 2006 Illinois gubernatorial election, both of whom were Republican candidates. Bernhardt is an outspoken critic of Donald Trump, and the Trump Administration. Bernhardt voted for Hillary Clinton in the 2016 United States presidential election, and then for Joe Biden in the 2020 United States presidential election, however, he originally supported Pete Buttigieg's candidacy in the 2020 Democratic Party primary election. Bernhardt is an opponent of both left and right-wing populism, and has criticized the populist policies of Bernie Sanders, Andrew Yang, and Tulsi Gabbard. Bernhardt didn't support a candidate for Prime Minister in the 2019 United Kingdom general election, however he said that Johnson was the better candidate, citing Corbyn's history of anti-Semitism, and ludacris economic policies as reasons to vote against Corbyn. Bernhardt is a major critic of Brexit. Bernhardt lives with his wife, Margaret, and the two of them have three sons: Robert, Michael, and Brian. Bernhardt is Jewish.
Mary C. Daly is an American economist, who became the 13th President and chief executive officer of the Federal Reserve Bank of San Francisco on October 1, 2018. Accordingly, she serves on the Federal Reserve's rate-setting Federal Open Market Committee on a rotating basis. Previously, Daly was the Executive Vice President and Director of Research of the Federal Reserve Bank of San Francisco, which she joined as an economist in 1996.
References
- ↑ "Firouz Gahvari". illinois.edu. Retrieved May 13, 2017.
- ↑ "Firouz Gahvari". illinois.edu. Retrieved May 13, 2017.
- ↑ "Firouz Gahvari". illinois.edu. Retrieved May 13, 2017.
