Neil Wallace
From Wikipedia, the free encyclopedia
Robert Lucas, Jr.
Neil Wallace | |
|---|---|
| Born | 1939 (age 86–87) New York City, U.S. |
| Academic background | |
| Alma mater | University of Chicago Columbia University |
| Doctoral advisor | Milton Friedman |
| Influences | John Muth Robert Lucas, Jr. |
| Academic work | |
| Discipline | Monetary economics |
| School or tradition | New classical economics |
| Institutions | Penn State University University of Miami University of Minnesota |
| Doctoral students | Robert M. Townsend S. Rao Aiyagari Randall Wright Lars Ljungqvist Per Krusell |
| Website | |
Neil Wallace (born 1939) is an American economist and professor of economics at Penn State University. He is considered one of the main proponents of new classical macroeconomics in the field of economics.[1]
Wallace was born in 1939, in New York City. He attended Columbia University, where he earned a BA in economics in 1960 and his Ph.D in economics from the University of Chicago in 1964, where he studied under Nobel Prize-winning economist Milton Friedman.
Career
In 1969, Wallace was hired as a consultant to the Federal Reserve Bank of Minneapolis. He served as a professor at the University of Minnesota from 1974 until 1994 and as a professor at the University of Miami from 1994 until 1997. In 1997, he was hired as a professor at Penn State.
In 1975, he and Thomas J. Sargent proposed the policy-ineffectiveness proposition, which refuted a basic assumption of Keynesian economics. In 2012, he was elected Distinguished Fellow of the American Economic Association.
