GROWTH IN THE FACE OF HEADWINDS : WHAT TO DO
Population aging, the end of transformative innovations, and environmental pressures are among the headwinds that, according to many, will sharply curtail the possibilities for future growth and development. How strong are these headwinds? What can we do about them? Can the world's economies grow strongly despite the headwinds?
Panelists and Chair
Professor Steven Davis
The University of Chicago, William H. Abbott Professor of International Business and Economics
Steven Davis studies business dynamics, worker mobility, job loss, labor market institutions, economic fluctuations, public policy and other topics. His research appears in the American Economic Review, Journal of Political Economy, Quarterly Journal of Economics and other leading scholarly journals. He is a former editor of the American Economic Journal: Macroeconomics and an elected fellow of the Society of Labor Economists. He is also a research associate of the National Bureau of Economic Research, senior academic fellow with the Asian Bureau of Finance and Economics Research, advisor to the U.S. Congressional Budget Office, and visiting scholar and consultant, respectively, with the Federal Reserve Banks of Atlanta and Chicago.
Davis is known for his influential work using longitudinal data on firms and establishments to explore job creation and destruction dynamics and to study their relationship to economic performance. He is also a co-creator of the Economic Policy Uncertainty Indices and the DHI Hiring Indicators, and he co-organizes the Asian Monetary Policy Forum, held annually in Singapore. Davis has received research grants from the Alfred P. Sloan Foundation, Ewing Marion Kauffmann Foundation, John D. and Catherine T. MacArthur Foundation, and other organizations, including several grants from the U.S. National Science Foundation. In 2013, he received the Addington Prize in Measurement, awarded by the Fraser Institute for Public Policy, for his research on “Measuring Economic Policy Uncertainty.”
His teaching experience includes Ph.D. courses in macroeconomics and labor economics at the University of Chicago, the Massachusetts Institute of Technology, and the University of Maryland; MBA courses in macroeconomics, money and banking, business strategy, and financial institutions for Chicago Booth; and executive MBA courses in macroeconomics for Chicago Booth in Barcelona, London, and Singapore. Davis has also taught undergraduate courses in microeconomics, econometrics, and money and banking at Brown University and the Massachusetts Institute of Technology.
Davis has written for the Atlantic, Bloomberg View, Financial Times, Forbes, Wall Street Journal and other popular media, and his research has been cited in many prominent newspapers and magazines around the world. He has made television appearances on Channel News Asia, CNBC, CNN, Fox News, NBC Network News, and the U.S. Public Broadcasting System, among others.
The US Presidential Election and Implications for the World Economy
Currently, policymakers around the world are concerned about a slowdown in China and other developed countries that may have ripple effects throughout the world. Central banks have taken a number of measures to offset the risks, but not all are coordinated. All of these developments are further complicated by a changing political structure in the United States that will come about as a result of the impending presidential election. The talk will address these developments the steps can be taken to ensure that the world economy continues to grow.
Professor Edward Lazear
Stanford University, Jack Steele Parker Professor of Human Resources Management
and Economics, Morris Arnold and Nona Jean Cox Senior Fellow, Hoover Institution
Senior Fellow (by courtesy), Stanford Institute for Economic Policy Research
Edward P. Lazear the Morris A. and Nona Jean Cox Senior Fellow at the Hoover Institution since 1985, is also the Jack Steele Parker Professor of Human Resources Management and Economics at Stanford University's Graduate School of Business, where he has taught since 1992. Professor Lazear taught previously at the University of Chicago's Economics Department and Graduate School of Business, where he was the Brown Professor of Urban and Labor Economics.
Lazear served as Chairman of the President's Council of Economic Advisers and served at the White House from 2006 to 2009. In his position as the chief economic advisor to the President, he advised on a broad range of matters that involve both the macroeconomy and microeconomic issues.
Founding Editor of the Journal of Labor Economics, Lazear is a Fellow of the American Academy of Arts and Sciences, the American Association for the Advancement of Sciences, the Econometric Society, and the Society of Labor Economists of which he was president. Lazear is a Visiting Distinguished Fellow of the Becker Friedman Institute at the University of Chicago and is heads the economics initiative at the George W. Bush Institute. He is also a Research Associate of the National Bureau of Economic Research, where he co-chairs the program in personnel economics.
Professor Lazear has written extensively on labor markets and personnel issues; microeconomic theory; issues involving worker compensation and effects on productivity; entrepreneurship; governmental policies on discrimination, affirmative action, and comparable worth; educational policy; unemployment; culture, language, and diversity issues; the doctrine of employment at will; distribution of income within the household; pricing and marketing policies; and other issues involving labor markets and the macroeconomy. He has over 100 published academic articles, he is a frequent contributor to the popular press, and has written or edited twelve books.
Professor Lazear's book Personnel Economics (MIT Press, 1995) expands on his 1993 Wicksell Lectures. In 1998, he received the Melamed Prize, which cited this book as the best research by a business school professor anywhere in the world during the previous two years. He received the Distinguished Teaching Award from Stanford University's Graduate School of Business as well as the PhD Faculty Distinguished Service Award.
Lazear won the IZA Prize in Labor Economics, which is given to the person viewed to have made the most significant contributions to labor economics in the world. This was primarily for his work in personnel economics. In June 2006, Lazear was awarded the Jacob Mincer Prize given by the Society of Labor Economics for lifetime contributions to the field. He holds four honorary doctorates.
In addition to his former duties in Washington, Professor Lazear has been an advisor to the governments of Czechoslovakia, Romania, Russia, Ukraine, and Georgia.
Born in 1948, Professor Lazear grew up in Los Altos, California. He received his AB and AM degrees from the University of California at Los Angeles, and his PhD from Harvard University.