Greg Mankiw (Harvard Econ Prof) on New Keynesian Macro, Growth and Econ Policy

The Capitalism and Freedom in the Twenty-First Century Podcast

Greg and Jon discuss Greg’s career and main contributions to economics. This includes the development and limitations of New Keynesian models in the 1980s and 1990s as a tool for central banks to understand how the macroeconomy works. Jon and Greg also discuss economic growth, growth accounting and the Solow model. They conclude by talking about Greg’s time in government, including his time leading the White House Council of Economic Advisors under President George W. Bush as well as Greg’s advocacy for carbon taxes.

ABOUT THE SPEAKERS:

Gregory Mankiw is the Robert M. Beren Professor of Economics at Harvard University. As a student, he studied economics at Princeton University and MIT. As a teacher, he has taught macroeconomics, microeconomics, statistics, and principles of economics. He even spent one summer long ago as a sailing instructor on Long Beach Island.

Professor Mankiw is a prolific writer and a regular participant in academic and policy debates. His research includes work on price adjustment, consumer behavior, financial markets, monetary and fiscal policy, and economic growth. His published articles have appeared in academic journals, such as the American Economic Review, Journal of Political Economy, and Quarterly Journal of Economics, and in more widely accessible forums, such as The New York Times, The Washington Post, and The Wall Street Journal.

He has written two popular textbooks—the intermediate-level textbook Macroeconomics (Worth Publishers) and the introductory textbook Principles of Economics (Cengage Learning). Principles of Economics has sold over two million copies and has been translated into twenty languages.

In addition to his teaching, research, and writing, Professor Mankiw has been a research associate of the National Bureau of Economic Research, an adviser to the Congressional Budget Office and the Federal Reserve Banks of Boston and New York, and a member of the ETS test development committee for the advanced placement exam in economics. From 2003 to 2005 he served as Chairman of the President's Council of Economic Advisers.

Professor Mankiw lives in Boston with his wife, Deborah. They have three adult children.

Jon Hartley is a Research Associate at the Hoover Institution and an PhD candidate in economics at Stanford University, where he specializes in finance, labor economics, and macroeconomics. He is also currently a research fellow at the Foundation for Research on Equal Opportunity and a senior fellow at the Macdonald-Laurier Institute. Jon is also a member of the Canadian Group of Economists and serves as chair of the Economic Club of Miami.

Jon has previously worked at Goldman Sachs Asset Management as well as in various policy roles at the World Bank, the International Monetaty Fund, the Committee on Capital Markets Regulation, the US Congress Joint Economic Committee, the Federal Reserve Bank of New York, the Federal Reserve Bank of Chicago, and the Bank of Canada.

Jon has also been a regular economics contributor for National Review Online, Forbes, and the Huffington Post and has contributed to the Wall Street Journal, the New York Times, USA Today, the Globe and Mail, the National Post, and the Toronto Star among other outlets. Jon has also appeared on CNBC, Fox Business, Fox News, Bloomberg, and NBC and was named to the 2017 Forbes 30 under 30 Law & Policy list and the 2017 Wharton 40 under 40 list, and was previously a World Economic Forum Global Shaper.