Christina Romer

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Christina Romer

Christina Duckworth Romer (born Duckworth; born December 25, 1958 in Alton , Illinois ) is an American professor of economics at the University of California, Berkeley and was chair of the Council of Economic Advisers of US President Barack Obama . She resigned from this position on September 3, 2010 to return to Berkeley as a lecturer.

After her nomination and before Obama took office as president, Romer was tasked with drawing up the government's plan to get out of the 2008 recession , which she tackled with economist Jared Bernstein . In a video presentation in January 2009, she explained details of the labor market program that the Obama cabinet presented to Congress .

Education and academic career

She completed her education at Glen Oak High School in Canton, Ohio in 1977. She received a BA in Economics from the College of William & Mary in 1981. Her Ph.D. received it from the Massachusetts Institute of Technology (MIT) in 1985. She then worked as an assistant professor at Princeton University . In 1988 she moved to the University of California at Berkeley , where she was given a full professorship in 1993. In 1989 she received a research grant from the Alfred P. Sloan Foundation ( Sloan Research Fellowship ).

family

She is married to David Romer , who was her fellow student at MIT and is now her colleague in the Department of Economics at the University of California. Their offices are adjacent, and much of their research is done together. You have three children. They are not related to the well-known growth economist Paul Romer .

research

Romer first compared macroeconomic volatility before and after World War II . It showed that much of what had been viewed as a decrease in volatility was in fact due to improved data collection, although recessions became less frequent.

She also did research on the Great Depression in the United States and how the United States recovered from it. Their work showed that the Great Depression hit the US harder than Europe and did not have the same causes there. Romer showed that fiscal policy played a comparatively small role in recovering from the crisis in the US, as taxes rose almost as quickly as government spending during the New Deal . Monetary policy played a major role, first through the devaluation of the dollar compared to the gold standard in 1933–1934, later, when the war in Europe became apparent, through capital flight from Europe to the relatively stable USA.

In her more recent work with husband David Romer, she focuses on the effects of tax policy on US government spending and overall economic growth between 1945 and 2007, not examining any “endogenous” tax changes that have been made to combat recessions or offset the cost of new government spending. They come to the view that “exogenous” tax increases, made for example to reduce a budget deficit resulting from the past, reduce economic growth, albeit to a lesser extent after 1980 than before. Romer and Romer find “no evidence to support the hypothesis that tax cuts limit government spending; Tax cuts can even increase government spending. The results indicate that the main effect of tax cuts on the state budget is to generate subsequent tax increases. "

Career

She was Vice President of the American Economic Association , received the John Simon Guggenheim Memorial Foundation Fellowship , has been a member of the American Academy of Arts and Sciences since 2004, and won the Berkeley Distinguished Teaching Award at the University of California, Berkeley . Professor Romer is co-director of the National Bureau of Economic Research's (NBER) monetary policy program , and was a member of the NBER's Business Cycle Data Collection Committee until she resigned in November 2008.

In 2008 Romer should take a chair at Harvard University , while her husband should get a position at the Kennedy School of Government at Harvard University. However, after Harvard President Drew Gilpin Faust vetoed their appointment, they stayed in Berkeley. The decision led to discussions both in the professional world and in the press. The reasons for Faust's decision to block Romer's appointment remain unclear. There was speculation about resistance from neoclassical economists to their New Keynesian tendencies or a reluctance to employ MIT-trained professors at Harvard.

Works

  • Romer, Christina and Romer, David: Monetary Policy and the Well-being of the Poor. Working Paper Ser. / National Bureau of Economic Research. 1998.

Individual evidence

  1. ↑ Malte Fischer: Christina Romer says goodbye to Barack Obama. In: Wirtschaftswoche. August 7, 2010
  2. ↑ The Job Impact of the American Recovery and Reinvestment Plan (PDF; 721 kB)
  3. ↑ ChangeDotGov: Christina Romer explains a new report about job creation on YouTube , January 10, 2009.
  4. ^ Past Fellows. Alfred P. Sloan Foundation, accessed July 30, 2019 .
  5. ↑ http://www.dailycal.org/article/7706/faculty_couples_keep_love_alive_at_work (link not available)
  6. ↑ Berkeley Couple Tackle Top Fiscal Issues of the Day . Archived from the original on February 15, 2009. Retrieved on December 18, 2010.
  7. ^ Changes in Business Cycles: Evidence and Explanations. Retrieved August 18, 2018 .
  8. ↑ Christina Romer: Lessons from the Great Depression for Economic Recovery in 2009. (PDF; 67 kB) Retrieved on August 18, 2018 .
  9. ↑ Christina Romer, David Romer: The Macroeconomic Effects of Tax Changes: Estimates Based on a New Measure of Fiscal Shocks. (PDF; 1.8 MB) Retrieved August 18, 2018 .
  10. ↑ Christina Romer, David Romer: Do Tax Cuts Starve the Beast? The Effect of Tax Changes on Government Spending. (PDF; 974 MB) Retrieved August 18, 2018 .
  11. ^ The NBER Monetary Economics Program
  12. ↑ Business Cycle Dating Committee, National Bureau of Economic Research (PDF; 48 kB) Accessed August 18, 2018.
  13. ↑ Shan Wang: Faust Vetoes Tenure Decision. In: The Harvard Crimson. Retrieved August 18, 2018 .
  14. ↑ David Warsh: Old Embers, New Flames . In: economicprincipals.com . June 15, 2008. Retrieved April 30, 2009.

Web links

Commons : Christina Romer  - Collection of images, videos and audio files
personal data
SURNAME Romer, Christina
ALTERNATIVE NAMES Romer, Christina Duckworth (full name); Duckworth, Christina (birth name)
BRIEF DESCRIPTION American economist and university professor
DATE OF BIRTH December 25, 1958
PLACE OF BIRTH Alton , Illinois