Mankiw to Chair CEA
NBER Research Associate N. Gregory Mankiw, Director of the National Bureau's Program of Research on Monetary Economics, has been nominated by President Bush to become Chairman of the Council of Economic Advisers. His appointment requires Senate confirmation. Mankiw replaces NBER Research Associate R. Glenn Hubbard, who will be returning to Columbia University.
Mankiw is the Allie S. Freed Professor of Economics at Harvard University. He received his A.B. from Princeton University and his Ph.D. from MIT. His NBER affiliation began in 1985, and he has twice served as Director of the NBER's Monetary Economics Program. Mankiw also edited the NBER volume Monetary Policy, which was published by the University of Chicago Press in 1994.
Four of the recent Chairs of the President's Council of Economic Advisers were also NBER Research Associates at the time of their nominations: Martin Feldstein, appointed by Ronald Reagan; Michael Boskin, under President George H.W. Bush; Joseph Stiglitz, President William J. Clinton; and R. Glenn Hubbard, President George W. Bush.
Romers To Direct NBER's Monetary Economics Program
NBER Research Associates Christina D. Romer and David H. Romer will succeed N. Gregory Mankiw as co-directors of the NBER's Program on Monetary Economics. Mankiw has been nominated by President George W. Bush to chair the Council of Economic Advisers.
Christina Romer is currently the Class of 1957 Professor of Economics at the University of California at Berkeley. She is a specialist in monetary economics and economic history, and has studied changes in American business cycles over time and the causes of the Great Depression. David Romer is the Herman Royer Professor in Political Economy at the University of California at Berkeley. He is a specialist in monetary economics and macroeconomic theory. He has conducted research on New Keynesian microeconomic foundations, inflation, and the determinants of cross-country income differences. Together the Romers have conducted a number of studies on the effects and determinants of American monetary policy. They are co-editors of the NBER volume Reducing Inflation: Motivation and Strategy.
Christina Romer received her B.A. from the College of William and Mary in 1981 and her Ph.D in Economics from MIT in 1985. She has received the NSF Presidential Young Investigator Award and fellowships from the Sloan Foundation and the Guggenheim Foundation. David Romer received his A.B. from Princeton University in 1980 and his Ph.D. from MIT in 1985. He is the author of the leading graduate textbook in macroeconomics, Advanced Macroeconomics. Both taught at Princeton from 1985-8 before joining the Berkeley economics faculty.
They are married and have 3 children.
Holtz-Eakin to Head CBO
Douglas J. Holtz-Eakin, who has been affiliated with the NBER since 1985, has been chosen to head the Congressional Budget Office. On leave as a professor of economics at Syracuse University, he most recently had been Chief Economist of the President's Council of Economic Advisers (CEA).
In the past, Holtz-Eakin held academic appointments at Columbia University and Princeton University. He also served as Senior Staff Economist of the CEA in 1989-90.
Holtz-Eakin's long-standing interest is in the economics of public policy. His most recent NBER Working Paper No. 8261, analyzed the distortion resulting from income versus estate taxation; in Working Paper No. 7980 he discussed personal income taxes and the growth of small firms.
Ruth P. Mack Dies at Age 99
Ruth Prince Mack, a member of the NBER's research staff in New York City from the 1940s through the 1960s, died in early March. She was 99 years old.
Mack was the author of a Technical Paper in 1954 titled Factors Influencing Consumption: An Experimental Analysis of Shoe Buying. Her other work at the NBER was the two Studies in Business Cycles that she wrote and which were published in 1956 and 1967, respectively: Consumption and Business Fluctuations: A Case Study of the Shoe, Leather, Hide Sequence and Information, Expectations, and Inventory Fluctuations: A Study of Materials Stock on Hand and on Order.