About the Author
Professor Bernanke received his B.A. in economics from Harvard University in 1975 and his Ph.D. in economics from MIT in 1979. He taught at the Stanford Graduate School of Business from 1979 to 1985 and moved to Princeton University in 1985, where he was named the Howard Harrison and Gabrielle Snyder Beck Professor of Economics and Public Affairs and where he served as chair of the Economics Department. Professor Bernanke is currently a Distinguished Fellow in Residence with the Economic Studies Program at the Brookings Institution.Professor Bernanke was sworn in on February 1, 2006, as chair and a member of the Board of Governors of the Federal Reserve System; his second term expired January 31, 2014. Professor Bernanke also served as chair of the Federal Open Market Committee, the Feds principal monetary policymaking body. Professor Bernanke was also chair of the Presidents Council of Economic Advisers from June 2005 to January 2006.Professor Bernankes intermediate textbook, with Andrew Abel and Dean Croushore, Macroeconomics, Ninth Edition (Addison-Wesley, 2017), is a best seller in its field. He has authored numerous scholarly publications in macroeconomics, macroeconomic history, and finance. He has done significant research on the causes of the Great Depression, the role of financial markets and institutions in the business cycle, and measurement of the effects of monetary policy on the economy.Professor Bernanke has held a Guggenheim Fellowship and a Sloan Fellowship, and he is a Fellow of the Econometric Society and of the American Academy of Arts and Sciences. He served as the director of the Monetary Economics Program of the National Bureau of Economic Research (NBER) and as a member of the NBERs Business Cycle Dating Committee. From 2001 to 2004 he served as editor of the American Economic Review, and as president of the American Economic Association in 2019. Professor Bernankes work with civic and professional groups includes having served two terms as a member of the Montgomery Township (New Jersey) Board of Education.
Associate Professor Olekalns received his B.Ec. with Honours in economics from the University of Adelaide in 1982 and completed an M.Ec. at the Australian National University in 1984. He was awarded his Ph.D. in economics in 1993 from LaTrobe University. He began teaching in the Department of Economics at the University of Melbourne in 1994 where, for the last six years, he has lectured to first year students in Macroeconomics. He has been a visiting scholar at the International Monetary Fund, a guest lecturer at the Monetary Authority of Singapore and an invited lecturer for the Australian and New Zealand School of Government. Associate Professor Olekalns has published on a variety of macroeconomic topics including fiscal and monetary policies, exchange rates, output and inflation volatility, and interest rates. He has also written articles on applied microeconomics including an analysis of the impact of anti-smoking policies in Australia that was awarded the Economic Society of Australias prize for the best paper published in the Economic Record in 2000. His papers have appeared in The Journal of Political Economy, The Review of Economics and Statistics, The Journal of Macroeconomics, The Journal of International Money and Finance, the Southern Economic Journal, The Economic Record, as well as many other international journals. He has also received numerous awards for his teaching including the inaugural Edward Wood Prize for Teaching Excellence. He is also currently the Director of the Centre for Macroeconomics at the University of Melbourne.
Robert H. Frank received his M.A. in statistics from the University of California at Berkeley in 1971, and his Ph.D. in economics in 1972, also from U.C. Berkeley. He is the Goldwin Smith Professor of Economics at Cornell University, where he has taught since 1972 and where he currently holds a joint appointment in the department of economics and the Johnson Graduate School of Management. He has published on a variety of subjects, including price and wage discrimination, public utility pricing, the measurement of unemployment spell lengths, and the distributional consequences of direct foreign investment. For the past several years, his research has focused on rivalry and cooperation in economic and social behaviour.
