Best Macroeconomics

Robert Lucas (1937–2023) was an American economist who won the 1995 Nobel Prize for developing rational expectations theory, which transformed macroeconomics and led to the Lucas critique of policy evaluation.

John Maynard Keynes was a prominent British economist who significantly impacted the study of economics during the 20th century. He developed theories concerning government intervention in economies and the role of aggregate demand. His work remains central to macroeconomics and is particularly rele...

Lars Peter Hansen is an American economist at the University of Chicago who shared the 2013 Nobel Prize for developing the Generalized Method of Moments (GMM), a statistical technique widely used in empirical economics.

Thomas Sargent is an American economist who shared the 2011 Nobel Prize for his empirical research on cause and effect in macroeconomics, particularly applying rational expectations to study monetary policy.

Wassily Leontief was a Russian-born American economist who developed input-output analysis, a quantitative method for representing relationships among industries. He received the 1973 Nobel Memorial Prize in Economic Sciences for developing the method and applying it to important economic problems....

Ragnar Frisch was a Norwegian economist who helped establish econometrics as a distinct field combining economic theory, mathematics, and statistical measurement. He coined the term econometrics and helped found the Econometric Society. Frisch shared the inaugural 1969 Nobel Memorial Prize in Econom...

Jan Tinbergen was a Dutch economist who pioneered the construction and statistical estimation of large-scale economic models. He used econometric models to study business cycles and to evaluate how policy instruments could be assigned to economic objectives. Tinbergen shared the inaugural 1969 Nobel...

Edmund Phelps is an American economist known for research on unemployment, inflation, expectations, and economic growth. He received the 2006 Nobel Memorial Prize in Economic Sciences for analyzing intertemporal tradeoffs in macroeconomic policy. His work on the expectations-augmented Phillips curve...

Olivier Blanchard is a French economist whose work focuses on macroeconomics, including unemployment, fiscal policy, monetary policy, and economic fluctuations. He served as the International Monetary Fund's chief economist from 2008 to 2015, spanning the global financial crisis and its aftermath. H...

Edward C. Prescott was an American economist known for research in macroeconomics and dynamic economic modeling. He shared the 2004 Nobel Memorial Prize in Economic Sciences with Finn Kydland for work on the time consistency of economic policy and the forces driving business cycles. Their real busin...

Paul Samuelson was a pioneering 20th-century American economist renowned for integrating mathematical methods into economic analysis. His work significantly advanced macroeconomics and mathematical economics, shaping classical school thought. As the first U.S. recipient of the Nobel Memorial Prize i...

Finn Kydland is a Norwegian economist known for research that reshaped dynamic macroeconomics. He shared the 2004 Nobel Memorial Prize in Economic Sciences with Edward Prescott for work on the time consistency of economic policy and the forces driving business cycles. Their research showed why discr...

Robert Barro is an American economist associated with Harvard University whose research spans macroeconomics, public finance, and economic growth. He is closely identified with the Ricardian equivalence proposition, which examines whether debt-financed tax cuts alter private spending when households...

Stanley Fischer is an Israeli-American economist born in 1943 who served as Governor of the Bank of Israel and Vice Chair of the U.S. Federal Reserve. He is widely recognized for his contributions to macroeconomic theory and co-authoring a standard graduate textbook with Olivier Blanchard and Rudige...

Lawrence Summers is an American economist whose career has included senior roles in government, academia, and international economic policy. He served as United States secretary of the Treasury from 1999 to 2001, later became president of Harvard University, and directed the National Economic Counci...

Emi Nakamura is an economist at the University of California, Berkeley, known for empirical research in macroeconomics. Her work uses detailed economic data to study price adjustment, monetary policy, fiscal stimulus, and the transmission of economy-wide shocks. She received the 2019 John Bates Clar...

Michał Kalecki was a Polish Marxist economist who lived from 1899 to 1970 and made profound, independent contributions to macroeconomic theory. Working several years before John Maynard Keynes, Kalecki developed a similar theory of effective demand, establishing the mathematical foundations of how a...

Mark Gertler is an American macroeconomist and a professor at New York University. He is recognized for co-developing the financial accelerator model alongside Ben Bernanke and Simon Gilchrist, which demonstrates how imperfections in credit markets can amplify macroeconomic fluctuations. His researc...

Ricardo Caballero is a Chilean economist at the Massachusetts Institute of Technology whose research covers macroeconomics, international finance, financial crises, and aggregate risk. He has analyzed global shortages of safe financial assets, capital flows, and the mechanisms through which financia...

Jon Steinsson is an Icelandic-American economist and professor at the University of California, Berkeley, whose research focuses on macroeconomics. Much of his empirical work examines fiscal multipliers, monetary policy transmission, price adjustment, and the use of regional variation to identify ec...

Summarizing John Maynard Keynes's groundbreaking 1936 macroeconomics treatise, this pamphlet outlines the revolutionary economic theories that justified active government intervention.

N. Gregory Mankiw is an American economist and a professor at Harvard University. He is a New Keynesian macroeconomist, recognized for developing the menu costs theory to explain price stickiness within the broader macroeconomy. Mankiw is also the author of several widely adopted introductory and ma...

N. Gregory Mankiw is an American economist and professor at Harvard University whose research is associated with New Keynesian macroeconomics. His academic work includes influential models of price adjustment, consumer behavior, and economic growth, while his Principles of Economics textbook has bee...

Robert Hall is an American macroeconomist and a senior fellow at the Hoover Institution at Stanford University. He is best known for formulating the random walk hypothesis of consumption, a foundational concept suggesting that changes in aggregate consumption are unpredictable based on past data. Hi...

Christina Romer is an American economist and a professor at the University of California, Berkeley, widely recognized for her extensive research on macroeconomic history. She served as the chair of the Council of Economic Advisers under President Barack Obama from 2009 to 2010, playing a key role in...

David Romer is an American macroeconomist and a professor at the University of California, Berkeley. He is the author of the widely used graduate-level textbook 'Advanced Macroeconomics,' which serves as a fundamental educational resource for students and economists studying modern economic growth a...

Yuriy Gorodnichenko is a Ukrainian-American economist and a professor at the University of California, Berkeley. He is best known for his empirical macroeconomic research, particularly regarding how information frictions and cognitive biases shape firms' and consumers' inflation expectations. His wo...

Lawrence Christiano is an American macroeconomist and a professor at Northwestern University. He is widely recognized for developing the Christiano–Eichenbaum–Evans dynamic stochastic general equilibrium (DSGE) model, a benchmark framework used by central banks to study monetary policy transmission....

Alan Blinder is an American economist who currently serves as the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University. He is a prominent scholar of macroeconomics and monetary policy, known for his advocacy of Keynesian economic principles. Blinder served...