Curriculum Vitae Lars Peter Hansen
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A Monetary History of the United States, 1867-1960’
JOURNALOF Monetary ECONOMICS ELSEVIER Journal of Monetary Economics 34 (I 994) 5- 16 Review of Milton Friedman and Anna J. Schwartz’s ‘A monetary history of the United States, 1867-1960’ Robert E. Lucas, Jr. Department qf Economics, University of Chicago, Chicago, IL 60637, USA (Received October 1993; final version received December 1993) Key words: Monetary history; Monetary policy JEL classijcation: E5; B22 A contribution to monetary economics reviewed again after 30 years - quite an occasion! Keynes’s General Theory has certainly had reappraisals on many anniversaries, and perhaps Patinkin’s Money, Interest and Prices. I cannot think of any others. Milton Friedman and Anna Schwartz’s A Monetary History qf the United States has become a classic. People are even beginning to quote from it out of context in support of views entirely different from any advanced in the book, echoing the compliment - if that is what it is - so often paid to Keynes. Why do people still read and cite A Monetary History? One reason, certainly, is its beautiful time series on the money supply and its components, extended back to 1867, painstakingly documented and conveniently presented. Such a gift to the profession merits a long life, perhaps even immortality. But I think it is clear that A Monetary History is much more than a collection of useful time series. The book played an important - perhaps even decisive - role in the 1960s’ debates over stabilization policy between Keynesians and monetarists. It organ- ized nearly a century of U.S. macroeconomic evidence in a way that has had great influence on subsequent statistical and theoretical research. -
The Influence of Jan Tinbergen on Dutch Economic Policy
De Economist https://doi.org/10.1007/s10645-019-09333-1 The Infuence of Jan Tinbergen on Dutch Economic Policy F. J. H. Don1 © The Author(s) 2019 Abstract From the mid-1920s to the early 1960s, Jan Tinbergen was actively engaged in discussions about Dutch economic policy. He was the frst director of the Central Planning Bureau, from 1945 to 1955. It took quite some time and efort to fnd an efective role for this Bureau vis-à-vis the political decision makers in the REA, a subgroup of the Council of Ministers. Partly as a result of that, Tinbergen’s direct infuence on Dutch (macro)economic policy appears to have been rather small until 1950. In that year two new advisory bodies were established, the Social and Eco- nomic Council (SER) and the Central Economic Committee. Tinbergen was an infuential member of both, which efectively raised his impact on economic pol- icy. In the early ffties he played an important role in shaping the Dutch consen- sus economy. In addition, his indirect infuence has been substantial, as the methods and tools that he developed gained widespread acceptance in the Netherlands and in many other countries. Keywords Consensus economy · Macroeconomic policy · Planning · Policy advice · Tinbergen JEL Classifcation E600 · E610 · N140 The author is a former director of the CPB (1994–2006). He is grateful to Peter van den Berg, André de Jong, Kees van Paridon, Jarig van Sinderen and Bas ter Weel for their comments on earlier drafts. André de Jong also kindly granted access to several documents from his private archive, largely stemming from CPB sources. -
Sylvia Mcnair Has Roots in Indiana ...Imagine That!
1 JET LINX MEMBERS!- BENEFIT 31 f THE KID-FRIENDLY SKIES '••••• YEAH, IT'S ALMOST THAT GOOD. Traveling with children should be awe-filled, not awful. Come experience for yourself the benefits of having your own locally based fleet of private jets. Call us today. 800-522-2296 www.jetlinx.com JETLINX YOUR PERSONAL JET COMPANY L A message from the Executive Director Ten years ago, a dear friend celebrated my 40''1 birthday by giving me Dr. Seuss's Oh the Places You Will Go. WOW! I can't think of anything more apropos for our company at this juncture in our history than the message contained therein Cor>Qra£u/a£ionS f Today is your day. You re off to threat P/aces! You re off and auiay! You /na/e Arains in your- fy&ad. You /ha/e. feet in your shoes. You casi *5£&er yours&/f a/y direction you d/iooSe. We are so excited to realize a dream that will be embodied in the Frank and Katrina Basile Opera Center. During 2009, Indianapolis Opera will bring together all of its operations in the site of the former Holy Trinity Greek Orthodox Church at 40th and Pennsylvania (the location of the famous Greek Fest) Indiana's only fully professional opera company will begin a thrilling transformation. iOith oas>ner •fliy>-~flap>f>inQ> once /y/ore. you // ride /hiah! £?eady -for a/yt/iina under the sfay. We have dreams for our young professional artists' program, for school children, for opera lovers, for the cultural community and for central Indiana that can now be realized as we work our way into this extraordinary site. -
2018 Annual Report
Annual Report 2018 Dear Friends, welcome anyone, whether they have worked in performing arts and In 2018, The Actors Fund entertainment or not, who may need our world-class short-stay helped 17,352 people Thanks to your generous support, The Actors Fund is here for rehabilitation therapies (physical, occupational and speech)—all with everyone in performing arts and entertainment throughout their the goal of a safe return home after a hospital stay (p. 14). nationally. lives and careers, and especially at times of great distress. Thanks to your generous support, The Actors Fund continues, Our programs and services Last year overall we provided $1,970,360 in emergency financial stronger than ever and is here for those who need us most. Our offer social and health services, work would not be possible without an engaged Board as well as ANNUAL REPORT assistance for crucial needs such as preventing evictions and employment and training the efforts of our top notch staff and volunteers. paying for essential medications. We were devastated to see programs, emergency financial the destruction and loss of life caused by last year’s wildfires in assistance, affordable housing, 2018 California—the most deadly in history, and nearly $134,000 went In addition, Broadway Cares/Equity Fights AIDS continues to be our and more. to those in our community affected by the fires and other natural steadfast partner, assuring help is there in these uncertain times. disasters (p. 7). Your support is part of a grand tradition of caring for our entertainment and performing arts community. Thank you Mission As a national organization, we’re building awareness of how our CENTS OF for helping to assure that the show will go on, and on. -
Jan Tinbergen
Jan Tinbergen NOBEL LAUREATE JAN TINBERGEN was born in 1903 in The Hague, the Netherlands. He received his doctorate in physics from the University of Leiden in 1929, and since then has been honored with twenty other degrees in economics and the social sciences. He received the Erasmus Prize of the European Cultural Foundation in 1967, and he shared the first Nobel Memorial Prize in Economic Science in 1969. He was Professor of Development Planning, Erasmus University, Rot- terdam (previously Netherlands School of Economics), part time in 1933- 55, and full time in 1955-73; Director of the Central Planning Bureau, The Hague, 1945-55; and Professor of International Economic Coopera- tion, University of Leiden, 1973-75. Utilizing his early contributions to econometrics, he laid the founda- tions for modern short-term economic policies and emphasized empirical macroeconomics while Director of the Central Planning Bureau. Since the mid-1950s, Tinbergen bas concentrated on the methods and practice of planning for long-term development. His early work on development was published as The Design of Development (Baltimore, Md.: Johns Hopkins University Press, 1958). Some of his other books, originally published or translated into English, include An Econometric Approach to Business Cycle Problems (Paris: Hermann, 1937); Statistical Testing of Business Cycle Theories, 2 vols. (Geneva: League of Nations, 1939); International Economic Cooperation (Amsterdam: Elsevier Economische Bibliotheek, 1945); Business Cycles in the United Kingdom, 1870-1914 (Amsterdam: North-Holland, 1951); On the Theory of Economic Policy (Amsterdam: North-Holland, 1952); Centralization and Decentralization in Economic Policy (Amsterdam: North-Holland, 1954); Economic Policy: Principles and Design (Amster- dam: North-Holland, 1956); Selected Papers, L. -
Macroeconomic Dynamics at the Cowles Commission from the 1930S to the 1950S
MACROECONOMIC DYNAMICS AT THE COWLES COMMISSION FROM THE 1930S TO THE 1950S By Robert W. Dimand May 2019 COWLES FOUNDATION DISCUSSION PAPER NO. 2195 COWLES FOUNDATION FOR RESEARCH IN ECONOMICS YALE UNIVERSITY Box 208281 New Haven, Connecticut 06520-8281 http://cowles.yale.edu/ Macroeconomic Dynamics at the Cowles Commission from the 1930s to the 1950s Robert W. Dimand Department of Economics Brock University 1812 Sir Isaac Brock Way St. Catharines, Ontario L2S 3A1 Canada Telephone: 1-905-688-5550 x. 3125 Fax: 1-905-688-6388 E-mail: [email protected] Keywords: macroeconomic dynamics, Cowles Commission, business cycles, Lawrence R. Klein, Tjalling C. Koopmans Abstract: This paper explores the development of dynamic modelling of macroeconomic fluctuations at the Cowles Commission from Roos, Dynamic Economics (Cowles Monograph No. 1, 1934) and Davis, Analysis of Economic Time Series (Cowles Monograph No. 6, 1941) to Koopmans, ed., Statistical Inference in Dynamic Economic Models (Cowles Monograph No. 10, 1950) and Klein’s Economic Fluctuations in the United States, 1921-1941 (Cowles Monograph No. 11, 1950), emphasizing the emergence of a distinctive Cowles Commission approach to structural modelling of macroeconomic fluctuations influenced by Cowles Commission work on structural estimation of simulation equations models, as advanced by Haavelmo (“A Probability Approach to Econometrics,” Cowles Commission Paper No. 4, 1944) and in Cowles Monographs Nos. 10 and 14. This paper is part of a larger project, a history of the Cowles Commission and Foundation commissioned by the Cowles Foundation for Research in Economics at Yale University. Presented at the Association Charles Gide workshop “Macroeconomics: Dynamic Histories. When Statics is no longer Enough,” Colmar, May 16-19, 2019. -
2017 Annual Report
Annual 2017 Report Our ongoing investment into increasing services for the senior In 2017, The Actors Fund Dear Friends, members of our creative community has resulted in 1,474 senior and helped 13,571 people in It was a challenging year in many ways for our nation, but thanks retired performing arts and entertainment professionals served in to your generous support, The Actors Fund continues, stronger 2017, and we’re likely to see that number increase in years to come. 48 states nationally. than ever. Our increased activities programming extends to Los Angeles, too. Our programs and services With the support of The Elizabeth Taylor AIDS Foundation, The Actors Whether it’s our quick and compassionate response to disasters offer social and health services, Fund started an activities program at our Palm View residence in West ANNUAL REPORT like the hurricanes and California wildfires, or new beginnings, employment and training like the openings of The Shubert Pavilion at The Actors Fund Hollywood that has helped build community and provide creative outlets for residents and our larger HIV/AIDS caseload. And the programs, emergency financial Home (see cover photo), a facility that provides world class assistance, affordable housing 2017 rehabilitative care, and The Friedman Health Center for the Hollywood Arts Collective, a new affordable housing complex and more. Performing Arts, our brand new primary care facility in the heart aimed at the performing arts community, is of Times Square, The Actors Fund continues to anticipate and in the development phase. provide for our community’s most urgent needs. Mission Our work would not be possible without an engaged Board as well as the efforts of our top notch staff and volunteers. -
CHAPTER 2020 Wanting Robustness in Macroeconomics$
CHAPTER 2020 Wanting Robustness in Macroeconomics$ Lars Peter Hansen* and Thomas J. Sargent{ * Department of Economics, University of Chicago, Chicago, Illinois. [email protected] { Department of Economics, New York University and Hoover Institution, Stanford University, Stanford, California. [email protected] Contents 1. Introduction 1098 1.1 Foundations 1098 2. Knight, Savage, Ellsberg, Gilboa-Schmeidler, and Friedman 1100 2.1 Savage and model misspecification 1100 2.2 Savage and rational expectations 1101 2.3 The Ellsberg paradox 1102 2.4 Multiple priors 1103 2.5 Ellsberg and Friedman 1104 3. Formalizing a Taste for Robustness 1105 3.1 Control with a correct model 1105 3.2 Model misspecification 1106 3.3 Types of misspecifications captured 1107 3.4 Gilboa and Schmeidler again 1109 4. Calibrating a Taste for Robustness 1110 4.1 State evolution 1112 4.2 Classical model detection 1113 4.3 Bayesian model detection 1113 4.3.1 Detection probabilities: An example 1114 4.3.2 Reservations and extensions 1117 5. Learning 1117 5.1 Bayesian models 1118 5.2 Experimentation with specification doubts 1119 5.3 Two risk-sensitivity operators 1119 5.3.1 T1 operator 1119 5.3.2 T2 operator 1120 5.4 A Bellman equation for inducing robust decision rules 1121 5.5 Sudden changes in beliefs 1122 5.6 Adaptive models 1123 5.7 State prediction 1125 $ We thank Ignacio Presno, Robert Tetlow, Franc¸ois Velde, Neng Wang, and Michael Woodford for insightful comments on earlier drafts. Handbook of Monetary Economics, Volume 3B # 2011 Elsevier B.V. ISSN 0169-7218, DOI: 10.1016/S0169-7218(11)03026-7 All rights reserved. -
2016 ANNUAL REPORT CLICK HERE on ALL PAGES 2 to RETURN to CONTENTS from the Chair
CFRE International Certifying fundraising executives Setting standards in philanthropy Annual Report 2016 Contents CLICK ON TEXT TO JUMP TO PAGE From the Chair . 3 Credibility 2016 CFRE International Board of Directors . 5 2016 CFRE International Committees & Advisory Groups . 6 2016 Advisory Council . 7 2016 CFRE International Participating Organisations . 9 Accreditation . 14 Validity Validity Tables . 15 Explanation of Terms . 17 Sustainability . 19 CFRE International Consolidated Financial Report . 20 2016 Continuing Education Providers . 21 2016 Certificant Demographics . 27 Current CFREs through 2016 Australia . 28 Bermuda . 28 Canada . 28 France . 33 Germany . 33 Hong Kong . 33 Ireland . 33 Kenya . 33 Lebanon . 33 Malaysia . 33 Mexico . 33 New Zealand . 33 Panama . 33 Saudi Arabia . 33 Singapore . 33 Slovenia . 33 South Korea . 33 Suriname . 34 Thailand . 34 United Arab Emirates . 34 United Kingdom . 34 United States . 34 CFRE International Former Chairpersons . 60 CFRE INTERNATIONAL ■ 2016 ANNUAL REPORT CLICK HERE ON ALL PAGES 2 TO RETURN TO CONTENTS From the Chair Service on the CFRE International Board of Directors, especially in the role of Chair, brings an understanding and involvement at the deepest levels of the CFRE certification programme . No aspect of that work is more important or central to our mission than assuring that the CFRE credentialing process provides a valid and reliable standard for knowledge of best practices in ethical fundraising at the five-year level of professional experience . In January 2016 CFRE International assured the continued reliability of the CFRE credentialing programme with the successful launch of updated eligibility and application Marnie Hill, CFRE requirements for CFRE certification . These changes reflect the CFRE Chair, 2016 maturation of our fundraising profession and the profession’s global nature . -
15 October 1998 PKESS CONFERENCE by NOBEL LAUREATE
15 October 1998 PKESS CONFERENCE BY NOBEL LAUREATE PROFESSOR AMARTYA SEN Professor Amartya Sen, the Indian philosopher and economist who was awarded the Nobel Prize for Economics, yesterday (14 October), said at a Headquarters press conference yesterday afternoon that globalization could be a major force for prosperity if adequately backed by good national policy. The main difficulty with globalization arose from failures in domestic policy, he said. Countries particularly threatened were those where human development had often been very poor. On balance, he said, major gains could be made by globalization. Even with the best scenario, there would be unexpected change, whether it arose from financial mismanagement or sudden changes in the world economy, and some people would suffer. A system of social safety nets would be needed, he said, adding that attention had to paid to that. Lack of social opportunities, such as literacy, good health care and macro-credit should be remedied. Globalization should be placed in a broader context and should be seen in terms of social and economic policies taken together. Professor Sen, who teaches at Trinity College in Cambridge, United Kingdom, was awarded the prize for his work on the causes of famine, on inequality and on measurement of poverty. He learned of the award in New York early Wednesday morning. He had arrived for a memorial lecture he would deliver at the United Nations on Thursday in honour of Mahbub ul Haq, a leading development thinker and creator of the widely acclaimed United Nations development programme Human Development Report. The memorial will be held in the Economic and Social Council chamber at 10:45 a.m. -
Pricing Uncertainty Induced by Climate Change∗
Pricing Uncertainty Induced by Climate Change∗ Michael Barnett William Brock Lars Peter Hansen Arizona State University University of Wisconsin University of Chicago and University of Missouri January 30, 2020 Abstract Geophysicists examine and document the repercussions for the earth’s climate induced by alternative emission scenarios and model specifications. Using simplified approximations, they produce tractable characterizations of the associated uncer- tainty. Meanwhile, economists write highly stylized damage functions to speculate about how climate change alters macroeconomic and growth opportunities. How can we assess both climate and emissions impacts, as well as uncertainty in the broadest sense, in social decision-making? We provide a framework for answering this ques- tion by embracing recent decision theory and tools from asset pricing, and we apply this structure with its interacting components to a revealing quantitative illustration. (JEL D81, E61, G12, G18, Q51, Q54) ∗We thank James Franke, Elisabeth Moyer, and Michael Stein of RDCEP for the help they have given us on this paper. Comments, suggestions and encouragement from Harrison Hong and Jose Scheinkman are most appreciated. We gratefully acknowledge Diana Petrova and Grace Tsiang for their assistance in preparing this manuscript, Erik Chavez for his comments, and Jiaming Wang, John Wilson, Han Xu, and especially Jieyao Wang for computational assistance. More extensive results and python scripts are avail- able at http://github.com/lphansen/Climate. The Financial support for this project was provided by the Alfred P. Sloan Foundation [grant G-2018-11113] and computational support was provided by the Research Computing Center at the University of Chicago. Send correspondence to Lars Peter Hansen, University of Chicago, 1126 E. -
ΒΙΒΛΙΟΓ ΡΑΦΙΑ Bibliography
Τεύχος 53, Οκτώβριος-Δεκέμβριος 2019 | Issue 53, October-December 2019 ΒΙΒΛΙΟΓ ΡΑΦΙΑ Bibliography Βραβείο Νόμπελ στην Οικονομική Επιστήμη Nobel Prize in Economics Τα τεύχη δημοσιεύονται στον ιστοχώρο της All issues are published online at the Bank’s website Τράπεζας: address: https://www.bankofgreece.gr/trapeza/kepoe https://www.bankofgreece.gr/en/the- t/h-vivliothhkh-ths-tte/e-ekdoseis-kai- bank/culture/library/e-publications-and- anakoinwseis announcements Τράπεζα της Ελλάδος. Κέντρο Πολιτισμού, Bank of Greece. Centre for Culture, Research and Έρευνας και Τεκμηρίωσης, Τμήμα Documentation, Library Section Βιβλιοθήκης Ελ. Βενιζέλου 21, 102 50 Αθήνα, 21 El. Venizelos Ave., 102 50 Athens, [email protected] Τηλ. 210-3202446, [email protected], Tel. +30-210-3202446, 3202396, 3203129 3202396, 3203129 Βιβλιογραφία, τεύχος 53, Οκτ.-Δεκ. 2019, Bibliography, issue 53, Oct.-Dec. 2019, Nobel Prize Βραβείο Νόμπελ στην Οικονομική Επιστήμη in Economics Συντελεστές: Α. Ναδάλη, Ε. Σεμερτζάκη, Γ. Contributors: A. Nadali, E. Semertzaki, G. Tsouri Τσούρη Βιβλιογραφία, αρ.53 (Οκτ.-Δεκ. 2019), Βραβείο Nobel στην Οικονομική Επιστήμη 1 Bibliography, no. 53, (Oct.-Dec. 2019), Nobel Prize in Economics Πίνακας περιεχομένων Εισαγωγή / Introduction 6 2019: Abhijit Banerjee, Esther Duflo and Michael Kremer 7 Μονογραφίες / Monographs ................................................................................................... 7 Δοκίμια Εργασίας / Working papers ......................................................................................