Charles Engel is an American economist and the Hester professor in the economics department at the

University of Wisconsin-Madison A university () is an institution of tertiary education and research which awards academic degrees in several academic disciplines. ''University'' is derived from the Latin phrase , which roughly means "community of teachers and scholars". Uni ...

. He does research on

nominal Nominal may refer to: Linguistics and grammar * Nominal (linguistics), one of the parts of speech * Nominal, the adjectival form of "noun", as in "nominal agreement" (= "noun agreement") * Nominal sentence, a sentence without a finite verb * Nou ...

real exchange rate In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of ...

movements.

Career

Engel received a B.A. from

University of North Carolina at Chapel Hill The University of North Carolina at Chapel Hill (UNC, UNC–Chapel Hill, or simply Carolina) is a public university, public research university in Chapel Hill, North Carolina, United States. Chartered in 1789, the university first began enrolli ...

in 1977. After receiving his doctorate in economics from

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 t ...

in 1983, he held faculty positions at the

University of Virginia The University of Virginia (UVA) is a Public university#United States, public research university in Charlottesville, Virginia, United States. It was founded in 1819 by Thomas Jefferson and contains his The Lawn, Academical Village, a World H ...

and the

University of Washington The University of Washington (UW and informally U-Dub or U Dub) is a public research university in Seattle, Washington, United States. Founded in 1861, the University of Washington is one of the oldest universities on the West Coast of the Uni ...

before moving to University of Wisconsin-Madison. He has since 1989 been a research associate at The

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 co ...

. He has since 2001 been an editor of the

Journal of International Economics The ''Journal of International Economics'' is a peer-reviewed academic journal in the field of economics. The journal publishes articles on both theoretical and empirical aspects of international economics. Various topics covered include trade pa ...

, which is a top field journal in

international economics International economics is concerned with the effects upon economic activity from international differences in productive resources and consumer preferences and the international institutions that affect them. It seeks to explain the patterns an ...

. He has served on the Board of Editors for

American Economic Review The ''American Economic Review'' is a monthly peer-reviewed academic journal first published by the American Economic Association in 1911. The current editor-in-chief is Erzo FP Luttmer, a professor of economics at Dartmouth College. The journal is ...

(April 2002 – March 2008). He has since 2008 been a senior fellow at the Globalization and Monetary Policy Institute at the

Federal Reserve Bank of Dallas The Federal Reserve Bank of Dallas (informally referred to as the Dallas Fed) is one of 12 regional Federal Reserve Banks that, along with the Federal Reserve Board of Governors in Washington, D.C., make up the Federal Reserve System, the centra ...

Contributions

His paper coauthored wit
John Rogers
"How Wide is the Border?", empirically studies price dispersion across cities in different countries and finds that the extent of international failures of the law of one price is large. This paper initiated a long line of economic research investigating "the border effect" on international price dispersion. According to the

Social Sciences Citation Index The Social Sciences Citation Index (SSCI) is a commercial citation index product of Clarivate Analytics. It was originally developed by the Institute for Scientific Information from the Science Citation Index. The Social Sciences Citation Index is ...

, the paper is in the top percentile of papers published in the top tier of economics journals. In Engel (1999), he finds that the vast majority of U.S.

movements came from fluctuations in tradable good prices, contradicting the conventional views at that time that real exchange rate movements are mainly due to fluctuations in non-tradable good prices, and thus posing another empirical puzzle in the literature regarding the law of one price. In Engel and West (2005), Engel and

West West is one of the four cardinal directions or points of the compass. It is the opposite direction from east and is the direction in which the Sun sets on the Earth. Etymology The word "west" is a Germanic word passed into some Romance langu ...

propose a theorem explaining unpredictability of nominal exchange rate movements. This theorem is one of the first theoretical approaches in international economics to explaining why there are no solid regressors in the data for predicting nominal exchange rate movements in the short run.

References

External links

Charles Engel
at the University of Wisconsin-Madison

{{DEFAULTSORT:Engel, Charles M. University of Wisconsin–Madison faculty 21st-century American economists Living people American macroeconomists New Keynesian economists Year of birth missing (living people)