Brookings Now

The 17 Nobel Economists Who Have Written for the Brookings Papers on Economic Activity

Fred Dews

When Yale economist Robert J. Shiller, of the S&P/Case-Shiller Home Price Indices, won the Nobel Prize in Economics Sciences (formally called The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2013) earlier this year, we checked to see how many papers in the Brookings Papers on Economic Activity he authored or co-authored. The answer is seven:

What Have They Been Thinking? Homebuyer Behavior in Hot and Cold Markets, 2012 (with Karl Case [the “Case” in the index above] and Anne Thompson)
Low Interest Rates and High Asset Prices: An Interpretation in Terms of Changing Popular Economic Models, 2007
Is There a Bubble in the Housing Market?, 2003 (with Karl Case)
Public Resistance to Indexation: A Puzzle, 1997
Hunting for Homo Sovieticus: Situational versus Attitudinal Factors in Economic Behavior, 1992 (with Maxim Boycko and Vladimir Korobov)
Stock Prices and Social Dynamics, 1984
Forward Rates and Future Policy: Interpreting the Term Structure of Interest Rates, 1983 (with John Campbell and Kermit Schoenholtz)

Sixteen (*) other economics Nobel winners have been authors or discussants on BPEA papers since the journal’s inception in 1970:

Winner, Year BPEA paper authored (or as discussant)
Thomas J. Sargent, 2011

Rational Expectations, the Real Rate of Interest, and the Natural Rate of Unemployment, 1973

Policy Evaluation in Uncertain Economic Environments, 2003 (discussant)

Christopher A. Sims, 2011

Monetary Policy Models, 2007
The Role of Models and Probabilities in the Monetary Policy Process, 2002
What Does Monetary Policy Do?, 1996 (with Eric Leeper and Tao Zha)
Policy Analysis with Econometric Models, 1982
Output and Labor Input in Manufacturing, 1974

Disentangling the Channels of the 2007-2009 Recession, 2012 (discussant)
How Useful Are Estimated DSGE Model Forecasts for Central Bankers?, 2010 (discussant)
See all papers on which Sims was a discussant »

Christopher Pissarides, 2010  Is the Greek debt crisis one of supply or demand?, 2015 (with Yannis Ioannides)
Peter A. Diamond, 2010 Macroeconomic Aspects of Social Security Reform, 1997
The Cyclical Behavior of the Gross Flows of U.S. Workers, 1990 (with Olivier Blanchard)
The Beveridge Curve, 1989 (with Olivier Blanchard)
Oliver E. Williamson, 2009 Vertical Intergration and Market Foreclosure, 1990 (discussant)
Paul R. Krugman, 2008

Trade and Wages, Reconsidered, 2008
Asset Returns and Economic Growth, 2005 (with Dean Baker and J. Bradford DeLong)
It’s Baaack: Japan’s Slump and the Return of the Liquidity Trap, 1998
Growing World Trade: Causes and Consequences, 1995
The Persistence of the U.S. Trade Deficit, 1987 (with Richard Baldwin)
The U.S. Response to Foreign Industrial Targeting, 1984
Flexible Exchange Rates in the Short Run, 1976 (with Rudiger Dornbusch)

Imports in Japan: Closed Markets or Minds?, 1987 (discussant)
Floating Exchange Rates: Experience and Prospects, 1985 (discussant)
Latin American Debt: I Don’t Think We are in Kansas Anymore, 1984 (discussant)

Edmund S. Phelps, 2006

Roots of the Recent Recoveries: Labor Reforms or Private Sector Forces?, 2000 (with David Jestaz, Gylfi Zoega and Jean-Paul Fitoussi)
Causes of the 1980s Slump in Europe, 1986 (with Jean-Paul Fitoussi)

The Medium Run, 1997 (discussant)
The Growth of Nations, 1995 (discussant)
See all papers on which Phelps was a discussant »

George A. Akerlof, 2001

Unfinished Business in the Macroeconomics of Low Inflation: A Tribute to George and Bill by Bill and George, 2007 (with William Dickens)
Near-Rational Wage and Price Setting and the Long-Run Phillips Curve, 2000 (with George Perry and William Dickens)
The Macroeconomics of Low Inflation, 1996 (with George Perry and William Dickens)
Looting: The Economic Underworld of Bankruptcy for Profit, 1993 (with Paul M. Romer)
East Germany in from the Cold: The Economic Aftermath of Currency Union, 1991 (with Andrew Rose, Helga Hessenius and Janet L. Yellen)
Job Switching and Job Satisfaction in the U.S. Labor Market, 1988 (with Andrew Rose and Janet Yellen)



Fred Dews

Managing Editor, New Digital Products

Democratic Change in the Arab World, Past and Present, 2012 (discussant)
Why Doesn’t Capitalism Flow to Poor Countries?, 2009 (discussant)
See all papers on which Akerlof was a discussant »

Joseph E. Stiglitz, 2001

Economic Crises: Evidence and Insights from East Asia, 1998 (with Barry Bosworth, Jason Furman and Steven Radelet)
Examining Alternative Macroeconomic Theories, 1988 (with Bruce Greenwald)
Technological Change, Sunk Costs, and Competition, 1987

Daniel L. McFadden, 2000 Technological Change, Sunk Costs, and Competition, 1987 (discussant)
Gary S. Becker, 1992 Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox, 2008 (discussant)
Robert M. Solow, 1987 Manufacturing Wage Dispersion: An End Game Interpretation, 1985 (discussant)
U.S. Labor Markets: Imbalance, Wage Growth, and Productivity in the 1970s, 1983 (discussant)
See all papers on which Solow was a discussant »
Franco Modigliani, 1985

Is a Tax Rebate an Effective Tool for Stabilization Policy?, 1977 (with Charles Steindel)
Targets for Monetary Policy in the Coming Year, 1975 (with Lucas Papademos)

The Output Cost of Disinflation in Traditional and Vector Autoregressive Models, 1982 (discussant)
The Central Role of Credit Crunches in Recent Financial History, 1980 (discussant)
See papers on which Modigliani was a discussant »

George J. Stigler, 1982 Do Entry Conditions Vary across Markets?, 1988 (discussant)
James Tobin, 1981

William John Fellner 1905-1983, 1983
Stabilization Policy Ten Years After, 1980
Macroeconomic Effects of Selective Public Employment and Wage Subsidies, 1977 (with Martin Neil Baily)
Monetary Policy in 1974 and Beyond, 1974

A Price Target for U.S. Monetary Policy? Lessons from the Experience with Money Growth Targets, 1996 (discussant)
Was This Recession Different? Are They All Different?, 1993 (discussant)
See papers on which Tobin was a discussant »

Lawrence R. Klein, 1980

Capacity Utilization: Concept, Measurement, and Recent Estimates, 1973 (with Virginia Long)

Mortgage Credit Availability and Residential Construction, 1979 (discussant)

* This post has been updated as of 9/10/15, with the addition of a new paper by Christopher Pissarides (co-authored with Yannis Ioannides) on the Greek debt crisis. Pissarides shared the Nobel Prize in 2010 with Peter Diamond and Dale Mortensen.