Peter A. Diamond

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Peter Diamond (2010)

Peter Arthur Diamond (* 29. April 1940 in New York City ) is a for his research in the fields of labor economics and the search theory known American economist and emeritus professor of economics at the Massachusetts Institute of Technology (MIT). In 2010, together with Dale Mortensen and Christopher Pissarides, he received the Nobel Prize for Economics for “their analysis of markets with search frictions”.

education

Diamond first studied mathematics at Yale University (1960 BA with the top grade summa cum laude ), later economics at the Massachusetts Institute of Technology , which gave him a Ph.D. in 1963. awarded.

Professional background

After receiving his doctorate , Diamond was an assistant professor at the University of California, Berkeley until 1965 . In 1966 he returned to MIT, where he was Associated Professor until 1970, before being promoted to Professor in 1970, before holding the John and Jennie S. MacDonald Professorships (1989–1991) and the Paul A. Samuelson Professorships (1992 -1997) was transferred. In 1997 he accepted the position of professor for economics at MIT, where he worked until his retirement in 2011. Diamond is Ben Bernanke's PhD supervisor .

Guest professorships took him to the Churchill College of the University of Cambridge (1965-66) at the University College Nairobi (1968-69), the Hebrew University of Jerusalem (1969), to the Nuffield College (1969) and Balliol College (1973 / 74) from the University of Oxford , the Harvard School of Public Health at Harvard University (1977/78), the European University Institute (1992) and the University of Siena (2000).

Diamond also works as an editor for the Journal of Public Economics (since 1996) and was previously an editor for the Journal of Economic Theory .

research

Diamond's areas of expertise are labor economics and addiction theory . According to the economic publications database IDEAS , Diamond belongs to the top percent of the most research-intensive economists (63rd place). Also under other criteria, for example “number of papers”, “number of citations” and “number of magazine pages”, Diamond is among the top 5% of the economists recorded in the database. Diamond's most cited article was written in 1980 and entitled Aggregate Demand Management in Search Equilibrium . In this article he examines the equilibrium of a simple barter economy model with identical risk-neutral agents in which trade is coordinated by means of stochastic pairing processes. Diamond shows that with rational expectations there are multiple stationary economic equilibria. This implies that an economy with this type of trade friction cannot have a unique natural unemployment rate .

Other important research contributions by Diamond were on the topics of optimal taxation, unemployment , social security , the Beveridge curve , the contingent valuation method, the determination of equilibrium wages , price adjustments and the comparison of various national social security systems, e.g. the USA, China and Chile.

Personal

Peter A. Diamond has two children with his wife Kate.

Works

Books

  • with Michael Rothschild as editor: Uncertainty in economics. Readings and Exercises. Academic Press, New York 1978, ISBN 0-12-214850-9 ; New edition: Academic Press, San Diego [u. a.] 1989, ISBN 0-12-214851-7 .
  • A search-equilibrium approach to the micro foundations of macroeconomics . MIT Press, Cambridge, Mass. [u. a.] 1984, ISBN 0-262-04076-X
  • as editor: Growth, productivity, unemployment. Essays to celebrate Bob Solow 's birthday . MIT Press, Cambridge, Mass. [u. a.] 1990, ISBN 0-262-04110-3
  • On time. Lectures on models of equilibrium . Cambridge University Press, Cambridge [u. a.] 1994, ISBN 0-521-46289-4
  • with D. Lindeman and H. Young as editors: Social security. What role for the future? The Brookings Inst., Washington DC 1996, ISBN 0-8157-1835-7
  • as editor: Issues in privatizing social security. Report of an expert panel of the National Academy of Social Insurance . MIT Press, Cambridge, Mass. [u. a.] 1999, ISBN 0-262-04177-4
  • Social security reform . Oxford University Press, Oxford [u. a.] 2002, ISBN 0-19-924789-7
  • Taxation, incomplete markets, and social security. The 2000 Munich lectures . MIT Press, Cambridge, Mass. and London, England 2003, ISBN 0-262-04213-4
  • with Peter R. Orszag : Saving social security. A balanced approach . Brookings Institution Press, Washington DC 2004, ISBN 0-8157-1838-1
  • with Hannu Vartiainen and Yrjö Jahnssonin säätiö: Behavioral economics and its applications . Princeton University Press, Princeton, NJ 2007, ISBN 978-0-691-12284-7
  • with Nicholas A. Barr: Reforming pensions. Principles and policy choices . Oxford University Press, Oxford and New York 2008, ISBN 978-0-19-531130-3
  • with Nicholas A. Barr: Pension Reform: A Short Guide . Oxford University Press, New York 2010, ISBN 978-0-19-538772-8 ( partially digitized )

Article (selection)

  • with Tjalling C. Koopmans and Richard E. Williamson: Stationary Utility and Tune Perspective . In: Econometrica . Volume 32, No. 1/2, 1964, pp. 82-100
  • National Debt in a Neoclassical Growth Model . In: American Economic Review . Vol. 55, No. 1, 1965, pp. 1126-1150
  • The Role of a Stock Market in a General Equilibrium Model with Technological Uncertainty . In: American Economic Review . Volume 57, No. 4, pp. 759-776
  • with James A. Mirrlees : Optimal Taxation and Public Production. I: Production Efficiency . In: American Economic Review . Volume 61, No. 1, 1971, pp. 8-27
  • with James A. Mirrlees: Optimal Taxation and Public Production. II: Tax Rules . In: American Economic Review . Volume 61, No. 3, pp. 261-278
  • A model of price adjustment . In: Journal of Economic Theory . Volume 3, No. 2, 1971, pp. 156-168
  • with Joseph E. Stiglitz : Increases in risk and in risk aversion . In: Journal of Economic Theory . Volume 8, No. 3, 1974, pp. 337-360
  • A framework for social security analysis . In: Journal of Public Economics . Volume 8, No. 3, 1977, pp. 275-298
  • Wage Determination and Efficiency in Search Equilibrium . In: Review of Economic Studies . Volume 49, No. 2, 1982, pp. 217-227
  • Aggregate Demand Management in Search Equilibrium . In: Journal of Political Economy . Volume 90, No. 5, 1982, pp. 881-894
  • with Oliver Jean Blanchard: The Beveridge Curve . In: Brookings Papers on Economic Activity . Vol. 20, No. 1, 1989, pp. 1-76
  • Organizing the Health Insurance Market . In: Econometrica . Vol. 60, No. 6, 1992, pp. 1233-1254
  • with Eldar Shafir and Amos Tversky : Money Illusion . In: The Quarterly Journal of Economics . Volume 112, No. 2, 1997, pp. 341-374
  • Optimal Income Taxation: An Example with a U-Shaped Pattern of Optimal Marginal Tax Rates . In: American Economic Review . Volume 88, No. 1, 1998, pp. 83-95
  • What Stock Market Returns to Expect for the Future? . In: Social Security Bulletin . Volume 63, 2000, pp. 38-52

Awards

Memberships

literature

Web links

Commons : Peter Diamond  - collection of images, videos and audio files

Individual evidence

  1. ↑ Profile of Peter A. Diamonds on the website of the Nobel Prize in Economics (English)
  2. ↑ Stefan Schweiger: Stockholm on the mailbox. Double room No. 42/2010
  3. ↑ Overall ranking of the economic publications database IDEAS (English)
  4. ↑ Author profile Peter A. Diamonds on the IDEAS website
  5. ↑ Article profile on IDEAS (English)
  6. ^ Past and Present Officers. aeaweb.org ( American Economic Association ), accessed February 5, 2018 .
personal data
SURNAME Diamond, Peter A.
ALTERNATIVE NAMES Diamond, Peter Arthur (full name)
BRIEF DESCRIPTION American economist
DATE OF BIRTH April 29, 1940
PLACE OF BIRTH New York City