Robert Barro
Robert J. Barro ( born September 28, 1944) is an American economist and professor at Harvard University. He is considered one of the most influential economists of modern times. He is known among other things, the theoretical analysis and development of Ricardian equivalence and economic growth theory.
Professional career and research
Barro completed his Ph.D. in 1970 at Harvard University, where he is Professor of Economics since 1986. Since 1980 he is a Fellow of the Econometric Society. His articles are among the most frequently cited in the peer-reviewed economics journals. Therefore, it is also true for some time as the favorite for the Nobel Prize in Economics. Barro is commonly considered one of the representatives of the supply-side macroeconomics.
Although initially a supporter walras'scher and Keynesian concepts, he turned too early in his academic career, the new classical school and became one of the greatest exponents of the theory of rational expectations. In 1974 he published his first paper on Ricardian equivalence analysis of the hypothesis, which has since been called Barro - Ricardo equivalence hypothesis, and one of the most cited work is economic. In his 1976 paper published in Rational Expectations and the Role of Monetary Policy Barro argues, building on the work of Friedman, Sargent and Lucas ', that monetary policy has no effect on the other variables ( in particular, output, unemployment and interest) of an economy (one of the core propositions of monetarism ).
In his works of the 1980s, he is increasingly about the role of central banks. He argues that the central bank could be forced by political pressure to neglect their inflation targets over a short term lower unemployment ( the Phillips curve ). He therefore calls for an independent central bank that exclusively pursues monetary policy objectives, such as the European Central Bank or the German Bundesbank. He also significantly shaped the Real Business Cycle Theory and since the 1990s the theory of economic growth.
Private
His son Josh Barro is a journalist at Business Insider. 2012, this was voted " 30 Brightest Stars Under 30" by Forbes Magazine as one of the.
Works (selection)
- Are Government Bonds Net Wealth? (1974 ), Journal of Political Economy.
- Rational Expectations and the Role of Monetary Policy (1976). Monetary Economy 2:1-32.
- Rules, Discretion and Reputation in a Model of Monetary Policy with DB Gordon, 1983, Journal of Monetary Economics
- A Positive Theory of Monetary Policy in a Natural Rate Model, with DB Gordon, 1983, Journal of Political Economy
- Economic growth, with Xavier Sala -i - Martín, 1998 ( German edition ), Oldenbourg, ISBN 3-486-23535-4
- Macroeconomics: A Modern Approach 2008, South Western College Publishing, ISBN 978-0324545678