Neil Wallace

Neil Wallace ( born 1939 in New York City ) is an American economist and university professor. His specialty is monetary theory.

Career, teaching and research

Wallace studied at Columbia University before he moved to the University of Chicago after his Bachelor of Arts degree. In 1964 he graduated as a Ph.D. here and followed after an appointment as Assistant Professor at the Economics Faculty of the University of Minnesota. 1969 went up to Associate Professor, the University appointed him in 1974 to full professor. After twenty years in Minnesota, he moved to the University of Miami, which he left in the direction of Pennsylvania State University after three years.

In addition to Thomas Sargent and Robert E. Lucas Wallace is considered one of the most important representatives of the neoclassical theory of money, in particular, is characterized by the inclusion of the theory of rational expectations and, consequently, real economic effects of monetary policy to be minimal, ie limited triggered by surprisingly expansive or restrictive measures, look.