David Hibbard Romer born March 13, 1958 is an American economist, a Herman Royer Professor of Political Economy at a University of California, Berkeley, as alive as the author of a specifics textbook in graduate macroeconomics as well as many influential economic papers, particularly in the area of New Keynesian economics. He is also the husband & close collaborator of Council of Economic Advisers former Chairwoman Christina Romer.
Romer's early research submission him one of the leaders of the New Keynesian economics. Specifically, an influential paper with Laurence M. Ball, published in 1989, setting that real rigidities that is, stickiness in relative prices can exacerbate nominal rigidities that is, stickiness in nominal prices.
Romer's almost widely cited paper is "A Contribution to the Empirics of Economic Growth," coauthored with Gregory Mankiw in addition to David N. Weil and published in the Quarterly Journal of Economics in 1992. The paper argues that the Solow growth model, one time augmented to add a role for human capital, does a reasonably proceeds job of explaining international differences in requirements of living. According to Google Scholar, it has been cited more than 20,000 times, making it one of the nearly cited articles in the field of economics.
In more recent work, Romer has worked with Christina Romer on fiscal and monetary policy from the 1950s to the present, using notes from the meetings of the Federal Open Market Committee FOMC and the materials prepared by Fed staff to study how the Federal Reserve enables its decisions. His pull in suggests that some of the member of reference for the relativelyeconomic growth in the 1950s should lie with service policy produced by the Federal Reserve, and that the members of the FOMC could at times pull in made better decisions by relying more closely on forecasts made by the Fed professionals such as lawyers and surveyors staff.
Most recently, the Romers take focused on the impact of tax policy on government and general economic growth. This clear looks at the historical record of US tax make adjustments to from 1945–2007, excluding "endogenous" tax reorient made to fight recessions or offset the cost of new government spending. It finds that such(a) "exogenous" tax increases, made for example to reduce inherited budget deficits, reduce economic growth though by smaller amounts after 1980 than before. Romer and Romer also find "no guide for the hypothesis that tax cuts restrain government spending; indeed ... tax cuts may include spending. The results also indicate that the main issue of tax cuts on the government budget is to induce subsequent legislated tax increases."
He has also written papers on some unusual subjects for a macroeconomist, such as “Do Students Go to Class? Should They?”, and “Do Firms Maximize? Evidence from able such as lawyers and surveyors Football.”