George A. Akerlof is a renowned American economist and co-recipient of the Nobel Prize for Economics in 2001 with A. Michael Spence and Joseph E. Stiglitz. Akerlof was awarded the Nobel Prize for his contribution to the analysis of markets with asymmetric information.
Personal, career and Academic profiles
George A. Akerlof was born on 17th June, 1940 in New Haven, Connecticut, USA.
1962: George A. Akerlof completed his Bachelor's degree from Yale University
1966: Akerlof was awarded PhD from the Massachusetts of Technology
1966: He was engaged in teaching at the University of California, Berkeley
1966-1970: During this period of time Akerlof worked as an Assistant Professor at University of California, Berkeley
l967-l968: Akerlof worked as the Visiting Professor at Indian Statistical Institute
l969: He was the Summer Research Associate at Harvard University
l970-l977: He served as an Associate Professor at University of California, Berkeley
l973-l974: Akerlof worked as Senior Staff Economist at the Council of Economic Advisors
l977-l978: He was engaged as the Professor of University of California, Berkeley
l977-l978: During this period of time, Akerlof became the Visiting Research Economist in Board of Governors of the Federal Reserve System
1980: George A. Akerlof became the Goldman Professor of Economics
2001: He was awarded the Nobel Prize in Economics
1994: He became the Senior Fellow of The Brookings Institution
Some of the Honors and awards received by George A. Akerlof
Honors
George A. Akerlof became the Vice-President of American Economic Association
He was the Associate Editor of American Economic Review
Akerlof became the Fellow of the Econometric Society and American Academy of Arts and Sciences
Awards
1994: George A. Akerlof was awarded the Best Graduate Advisor
1995: He became the Fisher-Shultz Lecturer at World Congress of the Econometrics Society
George A. Akerlof also imparted the following prestigious lectures:
1998: Henry George Lecture, University of Scranton
1998: Gunnar Myrdal Lecture (Centenary of Birth)
1999: Henry George Lecture, Williams College
1999: Woodward Lectures, University of British Columbia
2000: Honorary Doctorate, University of Zurich
Theories propounded
George A. Akerlof will be remembered for his groundbreaking work in developing the theory of markets with asymmetric information.
Major Works and publications
1967: "Stability, Marginal Products, Putty and Clay"
1969: "Structural Unemployment in a Neoclassical Framework"
1970: "The Market for ‘Lemons’: Quality Uncertainty and the Market Mechanism"
1973: "The Demand for Money: A General-Equilibrium Inventory-Theoretic Approach"
1976: "The Economics of the Rat-Race and Other Woeful Tales"
1976: "Inflationary Tales Told by Static Models"
1978: "The Economics of ‘Tagging’ as Applied to the Optimal Income Tax and Other Things"
1979: "Irving Fisher on His Head: The Consequences of Target-Threshold Monitoring of Bank
Accounts"
1980: "The Implicit Contract Theory of Unemployment Meets the Wage Bill Argument"
1981: "Jobs as Dam Sites," Review of Economic Studies
1982: "The Short-Run Demand for Money: A New Look at an Old Problem"
1983: "Loyalty Filters," American Economic Review
1984: An Economic Theorist’s Book of Tales
1985 (with Janet Yellen): "Unemployment Through the Filter of Memory," Quarterly Journal of Economics
1986 ( with Janet Yellen).: Cambridge University Press
1989: "The Economics of Illusion," Economics and Politics
1990 (with Janet Yellen): "The Fair Wage-Effort Hypothesis and Unemployment"
1991 ( with Janet Yellen): Economic Policy: Essays in Honor of James Tobin
1996 (with Janet Yellen and Michael Katz): "An Analysis of Out-of-Wedlock Childbearing in the United States”
2000 (with Rachel Kranton): "Economics and Identity"