George Akerlof

George Akerlof News

  • Yellen Adds Disadvantaged to Full-Employment Definition

    The year was 1999, the unemployment rate was 4.3 percent, and President Bill Clinton’s top economic adviser had a message for economists gathered at Yale University: Tight labor markets are beneficial for blacks, Hispanics and male high-school dropouts.

  • Yellen Spouse Akerlof Resigns From UBS-Funded Center in Zurich

    George Akerlof, a Nobel Prize- winning economist and the spouse of Federal Reserve Chair Janet Yellen, resigned an unpaid advisory position with a University of Zurich center funded by UBS AG, saying he wants to avoid an appearance of conflict of interest.

  • Bernanke Seeking Animal Spirits Channels Yellen Spouse Akerlof

    Federal Reserve Chairman Ben S. Bernanke can review John Maynard Keynes on reviving “animal spirits” after an economic slump. Or he can read the more contemporary work of Janet Yellen’s husband.

  • Governments Using Swaps Emulate Subprime Victims of Wall Street

    Ask a Nobel Prize-winning economist what’s the difference between the mayor of Baltimore losing taxpayer money with derivatives sold by Wall Street and millions of Americans defaulting on subprime loans and he’ll say there isn’t any: State and local governments are victims of opaque financing they don’t understand, the same way individuals go broke on borrowing at rates too good to be true.

  • An Economics Masterpiece You Should Be Reading Now

    The most valuable new book I’ve read this year is Justin Yifu Lin’s “The Quest for Prosperity.” George Akerlof, a Nobel laureate in economics and a man not given to reckless overstatement, calls it “a masterpiece.” I’d say that’s right.

  • Yellen Fighting for Job Growth Doesn’t Give Ground on Inflation

    In the contest between competing schools of economics, Federal Reserve Vice Chairman Janet Yellen has woven her own path.

  • No Signs U.S. Catching Up With Growth Trend, Stiglitz Says

    The U.S. economy is showing no signs of catching up with its past growth trend and advanced economies are at risk of “Japanese-style malaise,” Columbia University Professor and Nobel laureate Joseph Stiglitz said.

  • Logic of Finance Can Banish Corruption (Part 4): Robert Shiller

    The economic power that some in the financial community attain bothers many people deeply. It offends our ideal of a society that aspires to respect, appreciate and support everyone. The pursuit of power that often drives financial capitalism seems contrary to the concept that finance should be about the stewardship of society’s assets.

  • Why I’m Very Happy About Janet Yellen

    President Barack Obama plans to nominate Janet Yellen as the next chairman of the Federal Reserve Board. In doing so, he will promote the pre-eminent policy economist of her generation to the role of the most powerful central banker in the world.

  • Fama, Shiller, Hansen Win Nobel Prize for Asset-Price Work

    Eugene F. Fama, Robert J. Shiller and Lars Peter Hansen shared the 2013 Nobel Prize in Economic Sciences for at times conflicting research on how financial markets work and assets such as stocks are priced.

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