Teaching and Research Interests:
- The history of U.S. monetary policy, size of government, macroeconomics, international financial reform. Founder and chairman of the Shadow Open Market Committee. Has served as a consultant on economic policy for the Congress, U.S. Treasury, Federal Reserve, the World Bank and the U.S. and foreign governments. Chairman, International Financial Institution Advisory Commission, U.S. Congress, 1999-2000.
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Published Papers:
- Blueprint for an International Lender of Last Resort
Journal of Monetary Economics 50, 2003. (with: Adam Lerrick)
- Grants: A Better to Deliver Aid
Joint Economic Committee of the U.S. Congress, 2002. (with: Adam Lerrick)
- Report of the International Financial Institution Advisory Commission.
Publications:
- A History of the Federal Reserve, Volume 2, 1951-1986, University of Chicago Press, (2010).
- A History of the Federal Reserve, Volume 1, 1913-1951, University of Chicago Press, (2002).
- Money and Income: Issues in Monetary Analysis, Cambridge University Press, (1992).
(with: K. Brunner)
- Political Economy, Oxford University Press, (1991).
(with: A. Cukierman, S. Richard)
- "Money Supply Theory"
in B. Friedman and F. Hahn (ed.) Handbook of Monetary Economics, North Holland, (1991). (with: K. Brunner)
- Keynes's Monetary Theory: A Different Interpretation, Cambridge University Press, (1988).
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Awards:
- Distinguished Fellow, American Economic Association - 2002
- Fellow, National Association of Business Economists
- Lifetime Achievement, Money Marketeers, NYU - 1997
- Man of the Year in Finance, Pittsburgh - 1995
- Distinguished Professional Achievement, UCLA - 1983
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Boards:
- Stillhalter Vision AG
- Sarah Scaife Foundation
- President's Council of Economic Advisors, 1988-1989
- Honorary Advisor, Bank of Japan, 1986-2002
- Cooper Tire & Rubber Company, 1980-98
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Consulting:
- The World Bank
- Various Central Banks
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Other Professional Activities:
- Economic Advisory to Federal Reserve Bank, New York 2009
- Economic Advisory Panel to the Congressional Budget Office 1995-2009
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Courses Taught:
- Capitalism (45854)
(Masters Program)
- Capitalism (45911)
(Masters Program)
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