Frederick Macaulay

Frederick Robertson Macaulay ( Frederic Macaulay, born August 12, 1882 in Montreal, † March 1970 in Great Neck on Long Iceland, New York) was a Canadian economist who in 1938 along with John Richard Hicks worked essential knowledge and concepts of financial theory. Thus, the measure of sensitivity goes duration back to his research.

Life

Frederick Macaulay was born in Montreal, the son of Thomas Bassett and Henrietta Macaulay. His father was chief accountant and the grandfather Robertson Macaulay, President of the insurer Sun Life Assurance Company of Canada. He had a younger brother, Douglas.

Frederick graduated from the University of Colorado at Boulder and reached there in 1909 a bachelor's degree and 1920 to a master. A law degree ( LL.B. ), he obtained 1911. Pending the award of the Ph.D. by Columbia University in 1924, he was employed at the University of Washington and the University of California. At the latter he accompanied from 1916 to 1920 the position of an assistant professor in the field of economics and statistics.

He worked at the National Bureau of Economic Research in the years between 1921 and 1938. Besides this activity Macaulay taught from 1921 to 1926 at the New School of Social Research in New York City. In 1938 Macaulay was appointed Research Director of the " Twentieth Century Fund ".

Macaulay appeared in 1921 as a lawyer in Berkeley. Together with Allen M. Bernstein, he founded in 1934 in New York, "Bernstein - Macaulay Inc.". This investment advisory company he stood up in 1961 as Vice President.

Works

• The Movements of Interest Rates. Bond Yields and Stock Prices in the United States since 1856, New York: National Bureau of Economic Research, 1938.
• Zs with D. Durand: Short selling on the New York Stock Exchange, New York: Twentieth Century Fund, 1951.