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Mark Gertler (economist)
Encyclopedia
Mark Lionel Gertler is an American
economist
and Henry and Lucy Moses Professor of Economics at New York University
. A specialist in business cycles and monetary policy, he has been an associate and collaborator of Federal Reserve Chairman Ben Bernanke
for more than 30 years. He is among the 20 most cited economists in the world.
Gertler completed his B.A.
in May, 1973 from the University of Wisconsin–Madison
and his Ph.D.
in June, 1978 from Stanford University
. He worked at Cornell University
and the University of Wisconsin–Madison before joining the faculty at NYU.
Gertler and Bernanke published "Should Central Banks Respond to Movements in Asset Prices?" in the American Economic Review
in 2001, five years before Bernanke replaced Alan Greenspan
as Chairman of the Federal Reserve Board of Governors. The paper, which deals retrospectively with the stock market bubble of the Internet years, has become a widely cited policy paper in economics, outside the field as well as within. Bernanke and Gertler argue that the practice of targeting inflation and price stability, as the Federal Reserve has done since the 1980s, should be continued, while the more aggressive approach of managing "asset price bubbles" that some economists have advocated, would be ineffective or counterproductive.
Gertler married Cara Lown in 1991 and they have two children, Sarah, born in 1994, and Sam, born in 1997.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
and Henry and Lucy Moses Professor of Economics at New York University
New York University
New York University is a private, nonsectarian research university based in New York City. NYU's main campus is situated in the Greenwich Village section of Manhattan...
. A specialist in business cycles and monetary policy, he has been an associate and collaborator of Federal Reserve Chairman Ben Bernanke
Ben Bernanke
Ben Shalom Bernanke is an American economist, and the current Chairman of the Federal Reserve, the central bank of the United States. During his tenure as Chairman, Bernanke has overseen the response of the Federal Reserve to late-2000s financial crisis....
for more than 30 years. He is among the 20 most cited economists in the world.
Gertler completed his B.A.
Bachelor of Arts
A Bachelor of Arts , from the Latin artium baccalaureus, is a bachelor's degree awarded for an undergraduate course or program in either the liberal arts, the sciences, or both...
in May, 1973 from the University of Wisconsin–Madison
University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
and his Ph.D.
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
in June, 1978 from Stanford University
Stanford University
The Leland Stanford Junior University, commonly referred to as Stanford University or Stanford, is a private research university on an campus located near Palo Alto, California. It is situated in the northwestern Santa Clara Valley on the San Francisco Peninsula, approximately northwest of San...
. He worked at Cornell University
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
and the University of Wisconsin–Madison before joining the faculty at NYU.
Gertler and Bernanke published "Should Central Banks Respond to Movements in Asset Prices?" in the American Economic Review
American Economic Review
The American Economic Review is a peer-reviewed academic journal of economics publishing seven issues annually by the American Economic Association. First published in 1911, it is considered one of the most prestigious journals in the field. The current editor-in-chief is Penny Goldberg . The...
in 2001, five years before Bernanke replaced Alan Greenspan
Alan Greenspan
Alan Greenspan is an American economist who served as Chairman of the Federal Reserve of the United States from 1987 to 2006. He currently works as a private advisor and provides consulting for firms through his company, Greenspan Associates LLC...
as Chairman of the Federal Reserve Board of Governors. The paper, which deals retrospectively with the stock market bubble of the Internet years, has become a widely cited policy paper in economics, outside the field as well as within. Bernanke and Gertler argue that the practice of targeting inflation and price stability, as the Federal Reserve has done since the 1980s, should be continued, while the more aggressive approach of managing "asset price bubbles" that some economists have advocated, would be ineffective or counterproductive.
Gertler married Cara Lown in 1991 and they have two children, Sarah, born in 1994, and Sam, born in 1997.