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I am the Robert M. Beren Professor of Economics at Harvard University.
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History of Econ Summer Camp

2026-01-23 05:08:00



Graduate students with an interest in the history of economic thought should consider this summer program

Statement on the Federal Reserve

2026-01-12 23:17:00

 Here is the link. I paste a copy below.

The Federal Reserve’s independence and the public’s perception of that independence are critical for economic performance, including achieving the goals Congress has set for the Federal Reserve of stable prices, maximum employment, and moderate long-term interest rates. The reported criminal inquiry into Federal Reserve Chair Jay Powell is an unprecedented attempt to use prosecutorial attacks to undermine that independence. This is how monetary policy is made in emerging markets with weak institutions, with highly negative consequences for inflation and the functioning of their economies more broadly. It has no place in the United States whose greatest strength is the rule of law, which is at the foundation of our economic success.

SIGNATORIES

Ben S. Bernanke served two terms as Chair of the Board of Governors of the Fed, as well as Chair of the Council of Economic Advisers under President George W. Bush.

Jared Bernstein served as Chair of the Council of Economic Advisers under President Joe Biden.

Jason Furman served as Chair of the Council of Economic Advisers under President Barack Obama.

Timothy F. Geithner served as the 75th Secretary of the Treasury under President Barack Obama, as well as President and Chief Executive Officer of the Federal Reserve Bank of New York.

Phil Gramm served as Chairman of the Senate Banking Committee.

Alan Greenspan served five terms as Chair of the Board of Governors of the Fed, first appointed by President Ronald Reagan and then reappointed by Presidents George H.W. Bush, Bill Clinton, and George W. Bush. He also was Chair of the Council of Economic Advisers under President Gerald Ford.

Glenn Hubbard served as Chair of the Council of Economic Advisers under President George W. Bush.

Jacob J. Lew served as the 76th Secretary of the Treasury under President Barack Obama.

N. Gregory Mankiw served as Chair of the Council of Economic Advisers under President George W. Bush.

Henry M. Paulson served as the 74th Secretary of the Treasury under President George W. Bush.

Kenneth Rogoff is the Maurits C. Boas Professor of International Economics at Harvard University and former chief economist of the International Monetary Fund.

Christina Romer served as Chair of the Council of Economic Advisers under President Barack Obama.

Robert E. Rubin served as the 70th Secretary of the Treasury under President Bill Clinton, after serving as the first director of the White House National Economic Council.

Janet Yellen served as the 78th Secretary of the Treasury under President Joe Biden, Chair and Vice Chair of the Board of Governors of the Fed, Chair of the Council of Economic Advisers under President Bill Clinton, and President and CEO of the Federal Reserve Bank of San Francisco.

Principles of Economics, 11e

2025-12-12 06:22:00


The new edition of my favorite textbook will be available on January 9, ready for spring semester classes.

News from Yoram

2025-12-09 23:18:00

My friend Yoram Bauman (known for, among other things, his Ten Principles parody) has some news:

I only lost half my shirt on the stage-play version of Seize The Initiative! (a romantic comedy about democracy, climate action, and sandwiches) so now I’m looking to bet the other half on a movie adaptation. (Alternative title: Carbon Taxes: The Movie!)....Consider attending a table reading on T Dec 16 in person or on Zoom from 6-8pm MT (5-7pm PT, 8-10pm ET). Everyone is welcome to join (see the flyer here), please just sign up on this Google form. You can also read the latest version of the script at the world’s best URL: Yoram-Com.com. Please share this invite with others, especially if you know Woody Harrelson and want to help get him an Oscar for Best Supporting Actor!