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Paul Romer
Paul Michael Romer (born November 6, 1955) is an American economist and policy entrepreneur who is a Seidner University Professor in Finance at Boston College. Romer is best known as the former Chief Economist of the World Bank and for co-receiving the 2018 Nobel Memorial Prize in Economic Sciences (shared with William Nordhaus) for his work in endogenous growth theory. He also coined the term " mathiness," which he describes as misuse of mathematics in economic research. Before joining Boston College, Romer was a professor at NYU, the University of Chicago, the University of California, Berkeley, Stanford University's Graduate School of Business, and the University of Rochester. Romer was chief economist and senior vice president of the World Bank until he resigned in January 2018 following a controversy arising from his claim of possible political manipulation of Chile's "ease of doing business" ranking. Romer took leave from his position as professor of economics ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chief Economist Of The World Bank
The chief economist of the World Bank (full title: Senior Vice President for Development Economics and Chief Economist of the World Bank Group) is the senior economist at the World Bank Group, tasked with providing intellectual leadership and direction to the bank's overall international development strategy and economic research agenda, at global, regional and country levels. As a member of the bank's senior management team, the person advises the president and bank's management on economic issues. List of chief economists of the World Bank See also *Chief Economist of the International Monetary Fund References World Bank Chief Economists, * {{Economist-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Robert Lucas Jr
Robert Emerson Lucas Jr. (September 15, 1937 – May 15, 2023) was an American economist at the University of Chicago. Widely regarded as the central figure in the development of the new classical approach to macroeconomics, he received the Nobel Memorial Prize in Economic Sciences in 1995 "for having developed and applied the hypothesis of rational expectations, and thereby having transformed macroeconomic analysis and deepened our understanding of economic policy". N. Gregory Mankiw characterized him as "the most influential macroeconomist of the last quarter of the 20th century". In 2020, he ranked as the 10th most cited economist in the world. Early life and education Lucas was born on September 15, 1937, in Yakima, Washington, as the eldest child of Robert Emerson Lucas and Jane Templeton Lucas. His parents ran an ice creamery in Yakima. After the business failed during the Great Depression, the family moved to Seattle. His mother worked as a fashion designer and his fat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford Graduate School Of Business
The Stanford Graduate School of Business is the Postgraduate education, graduate business school of Stanford University, a Private university, private research university in Stanford, California. For several years it has been the most selective business school in the United States, admitting only about 6% of applicants. Stanford GSB offers a general management Master of Business Administration (MBA) degree, the Sloan Fellows, MSx Program (Master of Science, MS in Management for mid-career executives), Stanford LEAD Online Business Program and a Doctorate of Science, PhD program, along with joint degrees with other schools at Stanford, including Stanford University School of Earth, Energy & Environmental Sciences, Earth Sciences, Stanford University Graduate School of Education, Education, Stanford University School of Engineering, Engineering, Stanford Law School, Law, and Stanford University School of Medicine, Medicine. History The school was founded in 1925 when trustee Herb ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
University Of California, Berkeley
The University of California, Berkeley (UC Berkeley, Berkeley, Cal, or California), is a Public university, public Land-grant university, land-grant research university in Berkeley, California, United States. Founded in 1868 and named after the Anglo-Irish philosopher George Berkeley, it is the state's first land-grant university and is the founding campus of the University of California system. Berkeley has an enrollment of more than 45,000 students. The university is organized around fifteen schools of study on the same campus, including the UC Berkeley College of Chemistry, College of Chemistry, the UC Berkeley College of Engineering, College of Engineering, UC Berkeley College of Letters and Science, College of Letters and Science, and the Haas School of Business. It is Carnegie Classification of Institutions of Higher Education, classified among "R1: Doctoral Universities – Very high research activity". Lawrence Berkeley National Laboratory was originally founded as par ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Mathiness
Mathiness is a term coined by Nobel Prize-winning economist Paul Romer to label a specific misuse of mathematics in economic analyses. An author committed to the norms of science should use mathematical reasoning to clarify their analyses. By contrast, "mathiness" is not intended to clarify, but instead to mislead. According to Romer, some researchers use unrealistic assumptions and strained interpretations of their results in order to push an ideological agenda, and use a smokescreen of fancy mathematics to disguise their intentions. Introduction of the term The first usage of the term was at the annual meeting of the American Economic Association in January 2015. Afterwards Paul Romer published his article ''Mathiness in the Theory of Economic Growth'' in the ''American Economic Review''. The coinage mathiness follows the pattern of truthiness coined by comedian Stephen Colbert. Romer warns that mathiness is distorting economics: He specifically points to some work by Edward ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Nobelprize
The Nobel Prizes ( ; ; ) are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred Nobel's death. The original Nobel Prizes covered five fields: physics, chemistry, physiology or medicine, literature, and peace, specified in Nobel's will. A sixth prize, the Prize in Economic Sciences, was established in 1968 by Sveriges Riksbank (Sweden's central bank) in memory of Alfred Nobel. The Nobel Prizes are widely regarded as the most prestigious awards available in their respective fields. Shalev, p. 8. Except in extraordinary circumstances, such as war, all six prizes are given annually. Each recipient, known as a laureate, receives a green gold medal plated with 24 karat gold, a diploma, and a monetary award. As of 2023, the Nobel Prize monetary award is , equivalent to approximately . The medal shows Nobel in profile with ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Endogenous Growth Theory
Endogenous growth theory holds that economic growth is primarily the result of endogenous and not external forces. Endogenous growth theory holds that investment in human capital, innovation, and knowledge are significant contributors to economic growth. The theory also focuses on positive externalities and spillover effects of a knowledge-based economy which will lead to economic development. The endogenous growth theory primarily holds that the long run growth rate of an economy depends on policy measures. For example, subsidies for research and development or education increase the growth rate in some endogenous growth models by increasing the incentive for innovation. Models In the mid-1980s, a group of growth theorists became increasingly dissatisfied with common accounts of exogenous factors determining long-run growth, such as the Solow–Swan model. They favored a model that replaced the exogenous growth variable (unexplained technical progress) with a model in whic ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
William Nordhaus
William Dawbney Nordhaus (born May 31, 1941) is an American economist. He was a Sterling Professor of Economics at Yale University, best known for his work in economic modeling and climate change, and a co-recipient of the 2018 Nobel Memorial Prize in Economic Sciences. Nordhaus received the prize "for integrating climate change into long-run macroeconomic analysis". Education and career Nordhaus was born in Albuquerque, New Mexico, the son of Virginia (Riggs) and Robert J. Nordhaus, who co-founded the Sandia Peak Tramway. Robert J. Nordhaus was from a German Jewish family – his father Max Nordhaus (1865–1936) had immigrated from Paderborn in 1883, and became a manager of The Charles Ilfeld Company branch in Albuquerque. Nordhaus graduated from Phillips Academy in Andover and subsequently received his BA and MA from Yale in 1963 and 1972, respectively, where he was a member of Skull and Bones. He also holds a Certificate from the Institut d'Etudes Politiques (1962) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Nobel Memorial Prize Laureates In Economics
The Nobel Memorial Prize in Economic Sciences, officially the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (), commonly referred to as the Nobel Prize in Economics, is an award in the field of Economic Sciences administered by the Nobel Foundation. The first Prize in Economic Sciences was awarded in 1969 to Ragnar Frisch and Jan Tinbergen. Each recipient receives a medal, a diploma and a monetary award that has varied throughout the years. In 1969, Frisch and Tinbergen were given a combined 375,000 SEK, which is equivalent to 2,871,041 SEK in December 2007. The award is presented in Stockholm at an annual ceremony on December 10, the anniversary of Nobel's death. As of the awarding of the 2023 prize, 55 Prizes in Economic Sciences have been given to 93 individuals. As of October 2023, the department of economics with the most affiliated laureates in economic sciences is the University of Chicago, with 16 affiliated laureates. As of 2023, the institutio ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Boston College
Boston College (BC) is a private university, private Catholic Jesuits, Jesuit research university in Chestnut Hill, Massachusetts, United States. Founded in 1863 by the Society of Jesus, a Catholic Religious order (Catholic), religious order, the university has more than 15,000 total students. Boston College was originally located in the South End, Boston, South End of Boston, Massachusetts, Boston before moving most of its campus to Chestnut Hill, Massachusetts, Chestnut Hill in 1907. Its Boston College Main Campus Historic District, main campus is a historic district and features some of the earliest examples of collegiate gothic architecture in North America. The campus is 6 miles west of downtown Boston. It offers bachelor's degrees, master's degrees, and doctoral degrees through its nine colleges and schools. Boston College is classified as a "Research 1: Very High Research Spending and Doctorate Production" university by the Carnegie Classification of Institutions of High ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Professors In The United States
Professors in the United States commonly occupy any of several positions of teaching and research within a college or university. In the U.S., the word "professor" is often used to refer to anyone who teaches at a college of university level at any academic rank. This usage differs from the predominant usage of the word professor in other countries, where the unqualified word "professor" only refers to "full professors" (i.e., the highest rank among regular faculty), nor is it generally used in the United States for secondary education teachers. Other tenure-track faculty positions include assistant professor (entry level) and associate professor (mid-level). Other teaching-focused positions that use the term "professor" include Clinical Professor, Professor of Practice, and Teaching Professor (specific roles and status vary widely among institutions, but usually do not involve tenure). Most faculty with titles of "Lecturer" and "Instructor" in the U.S. are not eligible for ten ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Policy Entrepreneur
Policy entrepreneurs are individuals who exploit opportunities to influence policy outcomes so as to promote their own goals, without having the resources necessary to achieve this alone. They are not satisfied with merely promoting their self-interests within institutions that others have established; rather, they try to create new horizons of opportunity through innovative ideas and strategies. These persistent individuals employ innovative ideas and nontraditional strategies to promote desired policy outcomes. Whether from the private, public or third sector, one of their defining characteristics is a willingness to invest their own resources – time, energy, reputation and sometimes money – in hope of a future return. While policy entrepreneurs may try to block changes proposed by others, entrepreneurial activities usually seek to change the status quo rather than preserve it. It should be stressed, however, that although the literature has focused mainly on entrepreneurs wh ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
