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An economist is a practitioner in the social science discipline of economics.
George Arthur Akerlof is an American economist who is a university professor at the McCourt School of Public Policy at Georgetown University and Koshland Professor of Economics Emeritus at the University of California, Berkeley. He won the 2001 Nobel Memorial Prize in Economic Sciences.
Robert Merton Solow, GCIH, is an American economist whose work on the theory of economic growth culminated in the exogenous growth model named after him. He is currently Emeritus Institute Professor of Economics at the Massachusetts Institute of Technology, where he has been a professor since 1949. He was awarded the John Bates Clark Medal in 1961, the Nobel Memorial Prize in Economic Sciences in 1987, and the Presidential Medal of Freedom in 2014. Four of his PhD students, George Akerlof, Joseph Stiglitz, Peter Diamond and William Nordhaus later received Nobel Memorial Prizes in Economic Sciences in their own right.
Janet Louise Yellen is an American economist serving as the United States secretary of the treasury since January 26, 2021. A member of the Democratic Party, she previously served as the 15th chair of the Federal Reserve from 2014 to 2018. She is the first woman to hold either role. She is also a professor emerita at Haas School of Business at the University of California, Berkeley, and formerly a distinguished fellow in residence at the Brookings Institution.
Stanley Fischer is an Israeli American economist and former vice chairman of the Federal Reserve. Born in Northern Rhodesia, he holds dual citizenship in Israel and the United States. He served as governor of the Bank of Israel from 2005 to 2013. He previously served as chief economist at the World Bank. On January 10, 2014, United States President Barack Obama nominated Fischer to be Vice-Chairman of the US Federal Reserve Board of Governors. On September 6, 2017, Stanley Fischer announced that he was resigning as Vice-Chairman for personal reasons effective October 13, 2017.
In economics, a menu cost is the cost to a firm resulting from changing its prices. The name stems from the cost of restaurants literally printing new menus, but economists use it to refer to the costs of changing nominal prices in general. In this broader definition, menu costs might include updating computer systems, re-tagging items, and hiring consultants to develop new pricing strategies as well as the literal costs of printing menus. More generally, the menu cost can be thought of as resulting from costs of information, decision and implementation resulting in bounded rationality. Because of this expense, firms sometimes do not always change their prices with every change in supply and demand, leading to nominal rigidity. Generally, the effect on the firm of small shifts in price is relatively minor compared to the costs of notifying the public of this new information. Therefore, the firm would rather exist in slight disequilibrium than incur the menu costs.
The American Economic Association (AEA) is a learned society in the field of economics. Its aim is to stimulate high-quality economic research and debate via its own specialist journals, acknowledged in industry, business and academia. There are some 23,000 members.
Avinash Kamalakar Dixit is an Indian-American economist. He is the John J. F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University, and has been Distinguished Adjunct Professor of Economics at Lingnan University, senior research fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford.
Peter Arthur Diamond is an American economist known for his analysis of U.S. Social Security policy and his work as an advisor to the Advisory Council on Social Security in the late 1980s and 1990s. He was awarded the Nobel Memorial Prize in Economic Sciences in 2010, along with Dale T. Mortensen and Christopher A. Pissarides. He is an Institute Professor at the Massachusetts Institute of Technology. On June 6, 2011, he withdrew his nomination to serve on the Federal Reserve's board of governors, citing intractable Republican opposition for 14 months.
Douglas William Elmendorf is an American economist who is the dean and Don K. Price Professor of Public Policy at Harvard Kennedy School. He previously served as the Director of the Congressional Budget Office (CBO) from 2009 to 2015. He was a Brookings Institution senior fellow from 2007 to 2009, and briefly in 2015 following his time at the CBO, and was a director of the Hamilton Project at Brookings.
Harry Joseph Holzer is an American economist, educator and public policy analyst.
Sarah Bloom Raskin is an American attorney and regulator, who was formerly a member of the Board of Governors of the Federal Reserve System and a former United States Deputy Secretary of the Treasury. Previously, she served as Maryland Commissioner of Financial Regulation and as a Managing Director at the Promontory Financial Group. She is a Rubenstein Fellow at Duke University.
Rachel E. Kranton is an American economist and James B. Duke Professor of Economics at Duke University. She is a Fellow of the Econometric Society and 2010 recipient of the Blaise Pascal Chair. She was elected to serve on the Executive Committee of the American Economic Association from 2015-2018. Kranton's research focuses on how social institutions affect economic outcomes, and has applications in a variety of fields within economics, such as economic development, international economics, and industrial organization.
The Institute for New Economic Thinking (INET) is a New York City–based nonprofit think tank. It was founded in October 2009 as a result of the 2007–2012 global financial crisis, and runs a variety of affiliated programs at major universities such as the Cambridge-INET Institute at the University of Cambridge.
Susan Marie Dynarski is a professor of public policy, education and economics at the University of Michigan, where she is a University Professor of Diversity and Social Transformation. She is co-director of the University's Education Policy Initiative.
Hilary Hoynes is an economist and Haas Distinguished Chair in Economic Disparities at the Richard and Rhoda Goldman School of Public Policy at the University of California at Berkeley. She studies the impact of tax and transfer programs on low-income families, particularly single parent families. She was the 2014 winner of the Carolyn Shaw Bell Award from the Committee on the Status of Women in the Economics Profession. She has been a co-editor of the American Economic Review, co-editor of American Economic Journal:Economic Policy, Associate editor of Journal of Public Economics and Journal of Economic Perspectives.
Andrew Metrick is an American economist, currently the Janet L. Yellen Professor of Finance and Management at Yale School of Management. His research has touched on topics including game theory, venture capital and private equity, and most recently on financial stability. He is also the director of the Yale Program on Financial Stability.
The gift-exchange game is a game that has been introduced by Akerlof and Yellen to model labor relations. Two players are at least involved in such game – an employee and an employer. The employer has to decide first, whether to award a higher salary. Then, the decision of the employee about putting extra effort follows. Like trust games, gift-exchange games are used to study reciprocity for human subject research in social psychology and economics. If the employer pays extra salary and the employee puts extra effort, then both players are better off than otherwise. The relationship between an investor and an investee has been investigated as the same type of a game.
The Economists’ Statement on Carbon Dividends is a joint statement signed by over 3,500 U.S. economists promoting a carbon dividends framework for U.S. climate policy. The statement was originally published on January 16, 2019 in The Wall Street Journal with signatures from 45 Nobel Prize winning economists, former chairs of the Federal Reserve, former chairs of the CEA, and former secretaries of the Treasury Department.
References
- ↑ "Who Is Robert Akerlof Married To? 10 Facts On Janet Yellen's Son". Wiki Project. 2021-01-20. Retrieved 2021-01-30.
- ↑ "Institute for New Economic Thinking". Institute for New Economic Thinking. Retrieved 2021-01-30.
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