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Christopher Udry
Christopher R. Udry is an economist who currently serves as King Professor of Economics at Northwestern University. Udry is the co-founder (with Dean Karlan) and current co-director of thGlobal Poverty Research Labat the Kellogg School of Management. Udry's research focuses mostly on development economics, in particular rural development in Sub-Saharan Africa, to which he owes his position as one of the world's most prominent agricultural economists. Biography After earning a B.A. in economics from Swarthmore College in 1981, Udry taught for two years as a secondary school teacher in Tamale, Ghana. Thereafter, he went on to earn a Ph.D. from Yale University in 1991, for which he studied rural credit in northern Nigeria, being a visiting research scholar at the Ahmadu Bello University in 1988-89. Following his graduation, Udry worked first as an assistant professor (1990–96) and then as an associate professor (1996–98) of economics at Northwestern University, and as visit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economist
An economist is a professional and practitioner in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this field there are many sub-fields, ranging from the broad philosophical theories to the focused study of minutiae within specific markets, macroeconomic analysis, microeconomic analysis or financial statement analysis, involving analytical methods and tools such as econometrics, statistics, economics computational models, financial economics, mathematical finance and mathematical economics. Professions Economists work in many fields including academia, government and in the private sector, where they may also "study data and statistics in order to spot trends in economic activity, economic confidence levels, and consumer attitudes. They assess this information using advanced methods in statistical analysis, mathematics, computer programming nd ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
National Bureau Of Economic Research
The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community". The NBER is well known for providing start and end dates for recessions in the United States. Many chairpersons of the Council of Economic Advisers were previously NBER Research Associates, including the former NBER president and Harvard Professor, Martin Feldstein. The NBER's president and CEO is James M. Poterba of MIT. History The NBER was founded in 1920. Its first staff economist, director of research, and one of its founders was American economist Wesley Clair Mitchell. He was succeeded by Malcolm C. Rorty in 1922. The Russian American economist Simon Kuznets, a student of Mitchell, was working at the NBER when the U.S. government recruited him to oversee the production of the first official estimates of national i ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Burkina Faso
Burkina Faso (, ; , ff, 𞤄𞤵𞤪𞤳𞤭𞤲𞤢 𞤊𞤢𞤧𞤮, italic=no) is a landlocked country in West Africa with an area of , bordered by Mali to the northwest, Niger to the northeast, Benin to the southeast, Togo and Ghana to the south, and the Ivory Coast to the southwest. It has a population of 20,321,378. Previously called Republic of Upper Volta (1958–1984), it was renamed Burkina Faso by President Thomas Sankara. Its citizens are known as ''Burkinabè'' ( ), and its capital and largest city is Ouagadougou. The largest ethnic group in Burkina Faso is the Mossi people, who settled the area in the 11th and 13th centuries. They established powerful kingdoms such as the Ouagadougou, Tenkodogo, and Yatenga. In 1896, it was colonized by the French as part of French West Africa; in 1958, Upper Volta became a self-governing colony within the French Community. In 1960, it gained full independence with Maurice Yaméogo as president. Throughout the decad ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Marcel Fafchamps
Marcel Fafchamps (born in 1955) is a Belgian economist and senior fellow at the Freeman Spogli Institute for International Studies (Stanford University). He belongs to the leading economists in the field of rural development. Biography A native of Belgium, Marcel Fafchamps earned undergraduate degrees in law and economics from the Catholic University of Louvain in 1978 and 1980, respectively. After his studies and military service, between 1981 and 1985, he worked for the International Labour Organization on rural development, being based in Addis Ababa. Pursuing an interest in research, Fafchamps then earned a Ph.D. in agricultural economics from the University of California at Berkeley with an award-earning thesis in 1989, including a stay at ICRISAT in India. Thereafter, Fafchamps took up a position as assistant professor at Stanford University, first as part of the Food Research Institute and then - from 1996 on - within its Department of Economics. In 1999, Fafchamps then m ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Consumption Smoothing
Consumption smoothing is an economic concept for the practice of optimizing a person's standard of living through an appropriate balance between savings and consumption over time. An optimal consumption rate should be relatively similar at each stage of a person's life rather than fluctuate wildly. Luxurious consumption at an old age does not compensate for an impoverished existence at other stages in one's life. Since income tends to be hump-shaped across an individual's life, economic theory suggests that individuals should on average have low or negative savings rate at early stages in their life, high in middle age, and negative during retirement. Although many popular books on personal finance advocate that individuals should at all stages of their life set aside money in savings, economist James Choi states that this deviates from the advice of economists. Expected utility model The graph below illustrates the expected utility model, in which U(c) is increasing in and con ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Adverse Selection
In economics, insurance, and risk management, adverse selection is a market situation where buyers and sellers have different information. The result is that participants with key information might participate selectively in trades at the expense of other parties who do not have the same information. In an ideal world, buyers should pay a price which reflects their willingness to pay and the value to them of the product or service, and sellers should sell at a price which reflects the quality of their goods and services. For example, a poor quality product should be inexpensive and a high quality product should have a high price. However, when one party holds information that the other party does not have, they have the opportunity to damage the other party by maximising self-utility, concealing relevant information, and perhaps even lying. Taking advantage of undisclosed information in an economic contract or trade of possession is known as adverse selection. This opportunity ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Moral Hazard
In economics, a moral hazard is a situation where an economic actor has an incentive to increase its exposure to risk because it does not bear the full costs of that risk. For example, when a corporation is insured, it may take on higher risk knowing that its insurance will pay the associated costs. A moral hazard may occur where the actions of the risk-taking party change to the detriment of the cost-bearing party after a financial transaction has taken place. Moral hazard can occur under a type of information asymmetry where the risk-taking party to a transaction knows more about its intentions than the party paying the consequences of the risk and has a tendency or incentive to take on too much risk from the perspective of the party with less information. One example is a principal–agent problem, where one party, called an agent, acts on behalf of another party, called the principal. If the agent has more information about his or her actions or intentions than the princi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
IDEAS/RePEc
Research Papers in Economics (RePEc) is a collaborative effort of hundreds of volunteers in many countries to enhance the dissemination of research in economics. The heart of the project is a decentralized database of working papers, preprints, journal articles, and software components. The project started in 1997. Its precursor NetEc dates back to 1993. Overview Sponsored by the Research Division of the Federal Reserve Bank of St. Louis and using its IDEAS database, RePEc provides links to over 1,200,000 full-text articles. Most contributions are freely downloadable, but copyright remains with the author or copyright holder. It is among the largest internet repositories of academic material in the world. Materials to RePEc can be added through a department or institutional archive or, if no institutional archive is available, through the Munich Personal RePEc Archive. Institutions are welcome to join and contribute their materials by establishing and maintaining their own Re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Academy Of Arts And Sciences
The American Academy of Arts and Sciences (abbreviation: AAA&S) is one of the oldest learned societies in the United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bowdoin, Andrew Oliver, and other Founding Fathers of the United States. It is headquartered in Cambridge, Massachusetts. Membership in the academy is achieved through a thorough petition, review, and election process. The academy's quarterly journal, ''Dædalus'', is published by MIT Press on behalf of the academy. The academy also conducts multidisciplinary public policy research. History The Academy was established by the Massachusetts legislature on May 4, 1780, charted in order "to cultivate every art and science which may tend to advance the interest, honor, dignity, and happiness of a free, independent, and virtuous people." The sixty-two incorporating fellows represented varying interests and high standing in the political, professional, and commercial s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Econometric Society
The Econometric Society is an international society of academic economists interested in applying statistical tools to their field. It is an independent organization with no connections to societies of professional mathematicians or statisticians. It was founded on December 29, 1930, at the Statler Hotel in Cleveland, Ohio. Its first president was Irving Fisher. As of 2014, there are about 700 Elected Fellows of the Econometric Society, making it one of the most prevalent research affiliations. New fellows are elected each year by the current fellows. The sixteen founding members were Ragnar Frisch, Charles F. Roos, Joseph A. Schumpeter, Harold Hotelling, Henry Schultz, Karl Menger, Edwin B. Wilson, Frederick C. Mills, William F. Ogburn, J. Harvey Rogers, Malcolm C. Rorty, Carl Snyder, Walter A. Shewhart, Øystein Ore, Ingvar Wedervang and Norbert Wiener. The first president was Irving Fisher. The Econometric Society sponsors the Economics academic journal An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Journal Of Economic Perspectives
The ''Journal of Economic Perspectives'' (JEP) is an economic journal published by the American Economic Association. The journal was established in 1987. It is very broad in its scope. According to its editors its purpose is: #to synthesize and integrate lessons learned from active lines of economic research; #to provide economic analysis of public policy issues; to encourage cross-fertilization of ideas among the fields of thinking; #to offer readers an accessible source for state-of-the-art economic thinking; #to suggest directions for future research; #to provide insights and readings for classroom use; #and to address issues relating to the economics profession.'' Its current editor is Heidi Williams, and its managing editor A managing editor (ME) is a senior member of a publication's management team. Typically, the managing editor reports directly to the editor-in-chief and oversees all aspects of the publication. United States In the United States, a managing edit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Economic Review
The ''American Economic Review'' is a monthly peer-reviewed academic journal published by the American Economic Association. First published in 1911, it is considered one of the most prestigious and highly distinguished journals in the field of economics. The current editor-in-chief is Esther Duflo, an economic professor at the Massachusetts Institute of Technology. The journal is based in Pittsburgh. In 2004, the ''American Economic Review'' began requiring "data and code sufficient to permit replication" of a paper's results, which is then posted on the journal's website. Exceptions are made for proprietary data. Until 2017, the May issue of the ''American Economic Review'', titled the ''Papers and Proceedings'' issue, featured the papers presented at the American Economic Association's annual meeting that January. After being selected for presentation, the papers in the ''Papers and Proceedings'' issue did not undergo a formal process of peer review. Starting in 2018, papers ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
