Michael Woodford (economist)

Michael Woodford (Economist)

Economist Less

Michael Woodford (economist)

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Michael Dean Woodford (born 1955, in Chicopee, Massachusetts) is an American macroeconomist and monetary theorist who currently teaches at Columbia University.

Academic career

Woodford holds an undergraduate degree from the University of Chicago and a law degree from Yale, and completed his economics doctorate at MIT in 1983.Woodford, Michael Dean (1983), Essays in Intertemporal Economics. Ph.D. dissertation, Massachusetts Institute of Technology. He began his teaching career at Columbia, and then taught at Chicago and Princeton before returning to Columbia to accept the John Bates Clark chair in 2004. He is one of relatively few economists to have been awarded the John D. and Catherine T. MacArthur Foundation Prize Fellowship, which financed his research from 1981 to 1986. In 2007, he was awarded the Deutsche Bank Prize.

Theoretical contributions

Woodford's early research topics included sunspot equilibriaWoodford, Michael (1984), 'Learning to believe in sunspots'. Econometrica 58 (2), pp. 287-307. and imperfect competition.Rotemberg, Julio, and Michael Woodford (1995), 'Dynamic general equilibrium models with imperfectly competitive product markets'. Ch. 9 of Thomas Cooley, ed., Frontiers of Business Cycle Research, Princeton University Press, ISBN 069104323X. Thereafter he began to work on macroeconomic models with sticky prices; together with Julio Rotemberg he developed...
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