Michael Woodford (economist)

Michael Woodford (* 1955 in Chicopee, Massachusetts) is an American economist. He is regarded as one of the leading theorists on monetary policy. It represents the demand that central banks should act according to clear and publicly known rules, so as to make their actions predictable for market participants. He called it by the European Central Bank and the Fed to follow the example of the central banks of Britain, Sweden or Norway.

Life

Woodford received a Juris Doctor from Yale Law School and a Ph.D. in Economics from the Massachusetts Institute of Technology. As he often came to his law studies with economic issues in contact, he noticed his interest in this subject and applied therefore to the economy. 1984 to 1986 he was a lecturer ( assistant professor ) at the Faculty of Economics at Columbia University. Then Woodford worked until 1989 at the University of Chicago, where he was appointed associate professor (associate professor ) in 1989. His appointment as full professor was 1992. 1995 he left the university and went to Princeton University. He remained there until his return to the University of Columbia in 2004.

Awards

  • National Science Foundation Graduate Fellowship, Economics ( 1980-83 )
  • John D. and Catherine T. MacArthur Foundation Prize Fellowship ( 1981-86 )
  • National Science Foundation Research Grants, Economics ( 1987-89, 1989-92, 1992-95, 1995-98, 1998-2001, 2001-2004, 2004-2007)
  • John Simon Guggenheim Memorial Foundation Fellowship (1998-99 )
  • Association of American Publishers Award for Best Professional / Scholarly Book in Economics ( for Interest and Prices ) (2003 )
  • Honorary Professor of the Mundell International University in Beijing (2005)
  • Named honorary professor at the Capital University of Economics and Business in Beijing (2005)
  • German Bank Prize in Financial Economics (2007)

Works

  • Handbook of Macroeconomics, ed together with JB Taylor, Amsterdam 1999
  • Knowledge, Information and Expectations in Modern Macroeconomics In Honor of Edmund S. Phelps ed. together with P. Aghion, R. Frydman, J. Stiglitz and, Princeton: Princeton University Press, 2002
  • Interest and Prices: Foundations of a Theory of Monetary Policy, Princeton: Princeton University Press, 2003
  • Monitoring the European Central Bank 5: The Monetary Policy Strategy of the ECB Reconsidered, together with J. Gali, S. Gerlach, J. Rotemberg, and H. Uhlig, London: 2004
  • The inflation Targeting Debate, edited together with BS Bernanke, Chicago: University of Chicago Press, 2005

References

Bank of England Sveriges Riksbank Norges Bank Deutsche Bank Prize in Financial Economics Integrated Authority File
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