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Richard Clarida

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Nationality  American
Fields  Macroeconomics
Role  Economist
Name  Richard Clarida
Institution  Columbia University

Richard Clarida httpsuploadwikimediaorgwikipediacommonsthu
Born  May 18, 1957 (age 58) (1957-05-18)
Alma mater  Harvard University University of Illinois
Books  G3 Exchange Rate Relationships: A Recap of the Record and a Review of Proposals for Change
Education  University of Illinois at Urbana–Champaign, Harvard University

Copy of LIVE: Fed Vice Chair Richard Clarida at the Peterson Institute - Oct. 25, 2018

Richard Clarida (born May 18, 1957) is an American economist, C. Lowell Harriss Professor of Economics and International Affairs at the School of International and Public Affairs at Columbia University and Global Strategic Advisor for PIMCO. He is notable for his contributions to dynamic stochastic general equilibrium models. He is a former Assistant Secretary of the Treasury for Economic Policy and is a recipient of the Treasury Medal.


Academic career and research contributions

Since 1988, Clarida has instructed students in Economics and International Affairs at Columbia University, where he is the C. Lowell Harriss Professor of Economics. From 1997 until 2001, Clarida served as chairman of the Department of Economics at Columbia University. Earlier in his career, he had been a member of the Cowles Foundation at Yale University.

Clarida's research centers on dynamic stochastic general equilibrium modeling, a branch of applied general equilibrium theory that is influential in contemporary macroeconomics optimal monetary policy, especially through the lens of time series analysis. His studies with Jordi GalĂ­ and Mark Gertler suggest that monetary policy in many countries today resembles a forward looking Taylor rule, whereas the policy makers of the 1970s failed to follow such a forward looking Taylor rule.

Clarida has published numerous frequently cited articles in leading academic journals on monetary policy, exchange rates, interest rates, and international capital flows. He is frequently invited to present his research to the world's leading central banks, including the Federal Reserve, the ECB, the Bank of England, and the Bank of Japan. Recently, he has written on the monetary policy implications of the low-inflation period created by the 2008 financial crisis.

Other professional achievements

Clarida served as the Assistant Secretary of the United States Treasury for Economic Policy, a position that required confirmation by the US Senate. In that position, he served as chief economic advisor to two Treasury Secretaries, Paul O'Neill and John W. Snow, advising them on economic policy issues, including the U.S. and global economic prospects, international capital flows, corporate governance, and the maturity structure of U.S. debt. In May 2003, Treasury Secretary John W. Snow awarded Clarida The Treasury Medal in recognition for his record of outstanding service to the Treasury Department.

Clarida has served as a consultant to several prominent financial firms, including the Global Foreign Exchange Group at Credit Suisse First Boston and Grossman Asset Management. Since 2006, he has been Global Strategic Advisor with PIMCO. He is a member of the Council on Foreign Relations and the National Bureau of Economic Research. Clarida was director of the NBER Project on and Editor of G7 Current Account Imbalances: Sustainability and Adjustment. Since 2004, he has served as co-editor of the NBER International Macroeconomics Annual and since 2009 as Co-Managing Editor of the Journal of Applied Financial Economics.

Clarida appears frequently on Bloomberg media, often as a guest of Tom Keene. He most recently appeared on Bloomberg TV's GOP Debate Coverage, live from Dartmouth College, where he discussed economic policy with Keene and Austan Goolsbee.

Personal life

Clarida received his BS from the University of Illinois and his MA and PhD from Harvard University. He resides in Connecticut with his wife and two sons.


Richard Clarida Wikipedia