|
Christina Romer
Christina Duckworth Romer (née Duckworth; born December 25, 1958) is the Class of 1957 Garff B. Wilson Professor of Economics at the University of California, Berkeley and a former chair of the Council of Economic Advisers in the Obama administration. She resigned from her role on the Council of Economic Advisers on September 3, 2010. After her nomination and before the Obama administration took office, Romer worked with economist Jared Bernstein to co-author the administration's plan for recovery from the 2008 recession. In a January 2009 video presentation, she discussed details of the job creation program that the Obama administration submitted to Congress. Early life Romer was born in Alton, Illinois. She graduated from GlenOak High School in Canton, Ohio in June 1977. She obtained her bachelor's degree in economics from The College of William & Mary in 1981, and her Ph.D. from the Massachusetts Institute of Technology in 1985. Her doctoral advisors were Rudi Dornbusch a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Council Of Economic Advisers
The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the President of the United States on economic policy. The CEA provides much of the empirical research for the White House and prepares the publicly-available annual Economic Report of the President. Activities Economic Report of the President The report is published by the CEA annually in February, no later than 10 days after the Budget of the US Government is submitted. The president typically writes a letter introducing the report, serving as an executive summary and used for press coverage. The report proceeds with several hundred pages of qualitative and quantitative research by reviewing the impact of economic activity in the previous year, outlining the economic goals for the coming year (based on the President's economic agenda), and making numerical projections of economic performance and outcomes. Public criticism usually ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Job Creation Program
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed). Unemployment can have many sources, such as the following: * new technologies and inventions * the status of the economy, which can be influenced by a recession * competition caused by globalization and international trade * policies of the government * regulation and market Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can influence the availability and cost for money through its monetar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Fed
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and regulating banks, maintaining the stabi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Open Market Committee
The Federal Open Market Committee (FOMC), a committee within the Federal Reserve System (the Fed), is charged under United States law with overseeing the nation's open market operations (e.g., the Fed's buying and selling of United States Treasury securities). This Federal Reserve committee makes key decisions about interest rates and the growth of the United States money supply. Under the terms of the original Federal Reserve Act, each of the Federal Reserve banks was authorized to buy and sell in the open market bonds and short term obligations of the United States Government, bank acceptances, cable transfers, and bills of exchange. Hence, the reserve banks were at times bidding against each other in the open market. In 1922, an informal committee was established to execute purchases and sales. The Banking Act of 1933 formed an official FOMC. The FOMC is the principal organ of United States national monetary policy. The Committee sets monetary policy by specifying the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a Backed currency, monetary system in which the standard economics, economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War II
World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the World War II by country, vast majority of the world's countries—including all of the great powers—forming two opposing military alliances: the Allies of World War II, Allies and the Axis powers. World War II was a total war that directly involved more than 100 million Military personnel, personnel from more than 30 countries. The major participants in the war threw their entire economic, industrial, and scientific capabilities behind the war effort, blurring the distinction between civilian and military resources. Air warfare of World War II, Aircraft played a major role in the conflict, enabling the strategic bombing of population centres and deploying the Atomic bombings of Hiroshima and Nagasaki, only two nuclear weapons ever used in war. World War II was by far the List of wars by death toll, deadliest conflict in hu ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Princeton University
Princeton University is a private research university in Princeton, New Jersey. Founded in 1746 in Elizabeth as the College of New Jersey, Princeton is the fourth-oldest institution of higher education in the United States and one of the nine colonial colleges chartered before the American Revolution. It is one of the highest-ranked universities in the world. The institution moved to Newark in 1747, and then to the current site nine years later. It officially became a university in 1896 and was subsequently renamed Princeton University. It is a member of the Ivy League. The university is governed by the Trustees of Princeton University and has an endowment of $37.7 billion, the largest endowment per student in the United States. Princeton provides undergraduate and graduate instruction in the humanities, social sciences, natural sciences, and engineering to approximately 8,500 students on its main campus. It offers postgraduate degrees through the Princeton Schoo ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Assistant Professor
Assistant Professor is an academic rank just below the rank of an associate professor used in universities or colleges, mainly in the United States and Canada. Overview This position is generally taken after earning a doctoral degree and generally after several years of holding one or more Postdoctoral Researcher positions. It is below the position of Associate Professor at most universities and is equivalent to the rank of Lecturer Lecturer is an List of academic ranks, academic rank within many universities, though the meaning of the term varies somewhat from country to country. It generally denotes an academic expert who is hired to teach on a full- or part-time basis. T ... at most Commonwealth universities. In the United States, Assistant Professor is often the first position held in a tenure track, although it can also be a non-tenure track position. A typical professorship sequence is Assistant Professor, Associate Professor, and Full Professor in order. After 7 ye ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Peter Temin
Peter Temin (; born 17 December 1937) is an economist and economic historian, currently Gray Professor Emeritus of Economics, MIT and former head of the Economics Department. Education Temin graduated from Swarthmore College in 1959 before earning his Ph.D. at MIT in 1964. Beginning in the 1960s and early 1970s he published on American economic history in the 19th century, including ''The Jacksonian Economy'' (1969) and ''Causal Factors in American Economic Growth in the Nineteenth Century'' (1975), as well as ''Reckoning with Slavery'' (1976), which was an examination of the slave economy and its effects. His papers of the 1960s would reflect intense empirical study as part of his working method, including composition of iron and steel products, which would later be part of his analysis of industrial development. He continued his study of 19th century industrialization with ''Engines of Enterprise''. Influence Two of Temin's most cited conclusions in this area are on the relat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Rudi Dornbusch
Rüdiger Dornbusch (June 8, 1942 – July 25, 2002) was a German economist who worked in the United States for most of his career. Early life and education Dornbusch was born in Krefeld in present-day North Rhine-Westphalia. After completing his secondary education at the Gymnasium am Moltkeplatz in Krefeld, he went to study abroad. He received his ''Licence en Sciences Politiques'' from the University of Geneva's Graduate Institute of International Studies in 1966, where he also stayed on for a year as an assistant in economics. He subsequently moved to the United States, where he obtained his Ph.D. in economics from the University of Chicago. Career He briefly worked as a lecturer in the Graduate School of Business at the University of Chicago. For two years he stayed at the University of Rochester as an assistant professor in the Department of Economics, followed by a year as associate professor of International Economics, again in the Graduate School of Business of the Unive ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The College Of William & Mary
The College of William & Mary (officially The College of William and Mary in Virginia, abbreviated as William & Mary, W&M) is a public research university in Williamsburg, Virginia. Founded in 1693 by letters patent issued by King William III and Queen Mary II, it is the second-oldest institution of higher education in the United States and the ninth-oldest in the English-speaking world. Institutional rankings have placed it among the best public universities in the United States. The college educated American presidents Thomas Jefferson, James Monroe, and John Tyler. It also educated other key figures pivotal to the development of the United States, including the first President of the Continental Congress Peyton Randolph, the first U.S. Attorney General Edmund Randolph, the fourth U.S. Supreme Court Chief Justice John Marshall, Speaker of the House of Representatives Henry Clay, Commanding General of the U.S. Army Winfield Scott, sixteen members of the Continental ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
