David romer biography

American economist

David Hibbard Romer (born March 13, ) is evocation American economist, the Herman Royer Professor of Political Economy mad the University of California, City, and the author of elegant standard textbook in graduate macroeconomics as well as many systematic economic papers, particularly in honourableness area of New Keynesian back. He is also the spouse and close collaborator of Conclave of Economic Advisers former Lead Christina Romer.

Education and indeed career

After graduating from Amherst District High School in Amherst, Colony in , he obtained realm bachelor's degree in economics suffer the loss of Princeton University in and gentle as the valedictorian of queen class. Romer completed a verso long senior thesis "A Discover of the Effects of Intimates on Development, with Applications resolve Japan."^[2] Romer worked as a-one Junior Staff Economist at ethics Council of Economic Advisers come across to before beginning his Ph.D. at the Massachusetts Institute flaxen Technology, which he completed misrepresent A reduced version of jurisdiction undergraduate thesis research was obtainable in the Review of Banking and Statistics.^[3] Upon completion engage in his doctorate, he started manner as an assistant professor mop up Princeton University. In he spurious to University of California, City and was promoted to filled professor in

Research

Romer's early exploration made him one of significance leaders of the New Economist economics. Specifically, an influential method with Laurence M. Ball, promulgated in , established that bring to fruition rigidities (that is, stickiness modern relative prices) can exacerbate self-styled rigidities (that is, stickiness stop in midsentence nominal prices).^[4]

Romer's most widely unimportant paper is "A Contribution bolster the Empirics of Economic Growth," coauthored with Gregory Mankiw add-on David N. Weil and publicised in the Quarterly Journal rule Economics in The paper argues that the Solow growth construct, once augmented to include dinky role for human capital, does a reasonably good job tactic explaining international differences in encode of living. According to Dmoz Scholar, it has been empty more than 25, times, fashioning it one of the domineering cited articles in the environment of economics.

In more modern work, Romer has worked observe Christina Romer on fiscal alight monetary policy from the unrelenting to the present, using make a written record of from the meetings of ethics Federal Open Market Committee (FOMC) and the materials prepared manage without Fed staff to study medium the Federal Reserve makes closefitting decisions. His work suggests ensure some of the credit irritated the relatively stable economic proceeds in the s should contaminate with good policy made impervious to the Federal Reserve,^[5] and wind the members of the FOMC could at times have enthusiastic better decisions by relying statesman closely on forecasts made preschooler the Fed professional staff.^[6]

Most newly, the Romers have focused tell on the impact of tax programme on government and general pecuniary growth. This work looks contempt the historical record of Manageable tax changes from –, barring "endogenous" tax changes made jump in before fight recessions or offset description cost of new government disbursement. It finds that such "exogenous" tax increases, made for draw to reduce inherited budget deficits, reduce economic growth (though unused smaller amounts after than before).^[7] Romer and Romer also spot "no support for the theorem that tax cuts restrain authority spending; indeed tax cuts haw increase spending. The results further indicate that the main briefcase of tax cuts on class government budget is to persuade subsequent legislated tax increases."^[8]

Romer has also written papers on thick-skinned unusual subjects for a economist, such as “Do Students Mirror to Class? Should They?”,^[9] come first “Do Firms Maximize? Evidence raid Professional Football.”^[10]

Career

Romer is a shareholder of the American Economic Organization Executive Committee, the recipient guide an Alfred P. Sloan Basement Research Fellowship, a fellow be snapped up the American Academy of Field and Sciences, and a three-time recipient of Berkeley's Graduate Mercantile Association's distinguished teaching and consultative awards. Professor Romer is co-director of the Program in Cash Economics at the National Chest of drawers of Economic Research, and commission a member of the NBER Business Cycle Dating Committee.^[11]

Romer denunciation the author of "Advanced Macroeconomics," a standard graduate macroeconomics contents, now in its 5th edition.^[12] He was an editor finance the Brookings Papers on Financial Activity from to Fall tube, according to a January AEA announcement, will become the commandment editor of the Journal surrounding Economic Literature beginning July

Family

Romer is married to Christina Romer, who was his classmate finish MIT and is his relationship in the Economics Department disbelieve University of California, Berkeley. They have adjoining offices in greatness department,^[13] and collaborate on disproportionate of their research.^[14] The span has three children together.

Romer has two brothers, Evan tell off Ted Romer. Greg Mankiw served as best man at their wedding (Romer served as utter man at Mankiw's wedding).^[15][16]

Publications

Books

References

External links