George A. Akerlof

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. [br]

Personal, career and Academic profiles

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. [br]

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 [br]

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”

Books by George A. Akerlof

• Animal Spirits: How Human Psychology Drives the Economy, and Why It Matters for Global Capitalism (New Edition)
• An Economic Theorist’s Book of Tales
• Identity Economics: How Our Identities Shape Our Work, Wages, and Well-Being
• Efficiency Wage Models of the Labor Market
• Explorations in Pragmatic Economics

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