Michael Woodford (Economist)

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Michael Woodford (* 1955 in Chicopee , Massachusetts ) is an American economist . He is considered one of the world's leading theorists on monetary policy . He argues that central banks should follow clear, publicly known rules in order to make their actions predictable for market participants. He called on the European Central Bank and the FED to follow the example of the central banks of Great Britain , Sweden and Norway . Woodford's work on monetary policy and theory has broadened and deepened our understanding of the role of central banks; the effects of monetary policy in crises were largely based on his research.

Life

Woodford received a Juris Doctor from Yale Law School and a Ph.D. in economics from the Massachusetts Institute of Technology . Since he came into contact with economic topics during his law studies, he noticed his interest in this topic and therefore turned to economics. 1984 to 1986 he was a lecturer ( assistant professor ) at the business faculty at Columbia University . Then Woodford was on until 1989 University of Chicago , where he associate professor (1989 associate professor ) was appointed. He was appointed full professor in 1992. In 1995 he left the university and went to Princeton University . He stayed there until his return to the University of Columbia in 2004.

Awards

  • National Science Foundation Graduate Fellowship, Economics (1980–83)
  • John D. and Catherine T. MacArthur Foundation Prize Fellowship (1981–86)
  • National Science Foundation Research Grants, Economics (1987–89, 1989–92, 1992–95, 1995–98, 1998–2001, 2001–2004, 2004–2007)
  • John Simon Guggenheim Memorial Foundation Fellowship (1998–99)
  • Association of American Publishers Award for Best Professional / Scholarly Book in Economics (for Interest and Prices ) (2003)
  • Member of the American Academy of Arts and Sciences (2004)
  • Appointment as honorary professor at Mundell International University in Beijing (2005)
  • Appointment as honorary professor at the Capital University of Economics and Business in Beijing (2005)
  • Deutsche Bank Prize in Financial Economics (2007)

Works

  • Handbook of Macroeconomics , Ed. Together with JB Taylor, Amsterdam 1999
  • Knowledge, Information and Expectations in Modern Macroeconomics In Honor of Edmund S. Phelps Eds. Together with P. Aghion, R. Frydman, and J. Stiglitz, Princeton: Princeton University Press, 2002
  • Interest and Prices: Foundations of a Theory of Monetary Policy , Princeton: Princeton University Press, 2003
  • Monitoring the European Central Bank 5: The Monetary Policy Strategy of the ECB Reconsidered , together with J. Gali, S. Gerlach, J. Rotemberg, and H. Uhlig, London: 2004
  • The Inflation Targeting Debate , edited with BS Bernanke, Chicago: University of Chicago Press, 2005

literature

  • Mark Blaug (Ed.): Who's who in economics. 3rd edition, Elgar, Cheltenham [u. a.] 1999, ISBN 1-85898-886-1 , pp. 1193-1194

Web links

Individual evidence

  1. ↑ Center for Financial Studies, News 1/07 - Michael Woodford awarded generously endowed Deutsche Bank Prize in Financial Economics (PDF; 409 kB), accessed on Oct. 6, 2008
  2. ↑ Who will be the winner of the Nobel Prize in Economics? FAZ, October 5, 2018, archived copy ( memento of the original from October 6, 2018 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.faz.net
  3. ^ Columbia.edu, Michael Woodford , accessed Oct. 6, 2008
  4. ↑ Columbia University, Interview with Michael Parki , May 2002 ( MS Word ; 40 kB), published in Parkin, Economics , 6th edition, 2002
personal data
SURNAME Woodford, Michael
BRIEF DESCRIPTION American economist
DATE OF BIRTH 1955
PLACE OF BIRTH Chicopee , Massachusetts