Christina Romer American economist Date of Birth: 25.12.1958 Country: USA

1. Christina Romer: American Economist and Public Servant
2. Education and Early Career
3. Research Contributions
4. Contributions to Public Service
5. Personal Life

Christina Romer: American Economist and Public Servant

Christina Romer, born on December 25, 1958, is an American economist and professor of economics at the University of California, Berkeley. She is best known for her role as the chair of the Council of Economic Advisers during the presidency of Barack Obama.

Education and Early Career

Christina Romer grew up in Alton, Illinois and completed her high school education in Canton, Ohio. She then attended The College of William & Mary, where she graduated in 1981 with a bachelor's degree in economics. She continued her studies at the Massachusetts Institute of Technology, earning a doctorate in economics. Following her doctoral studies, Romer joined Princeton University as an assistant professor before eventually moving to the University of California, where she became a full professor.

Research Contributions

Romer's early research focused on macroeconomic volatility before and after World War II. She demonstrated that many downturns were a result of more accurate economic data collection and that crises occurred less frequently over time. Her attention then turned to the history of the Great Depression and its subsequent recovery period. Romer showed that the Depression had a harsher impact in the United States compared to Europe, and that its causes were fundamentally different. Her studies also revealed that fiscal policy had minimal impact on the post-Depression recovery, as tax revenue increased proportionally to the expenses incurred during the New Deal. Monetary policy, particularly the devaluation of the dollar against gold in the 1930s and the influx of capital from Europe during the war, played a more significant role.

Romer extensively researched tax and monetary policies from the Depression era to the present day. She utilized data from the Federal Open Market Committee (FOMC) in her work. Her findings highlighted the Federal Reserve's effective actions in promoting stable economic growth in the 1950s, while the decision-making of FOMC agents was not always successful. Romer advocated for greater reliance on advice from Federal Reserve officials.

Contributions to Public Service

Apart from her academic career, Christina Romer made significant contributions to public service. Prior to her appointment as chair of the Council of Economic Advisers, she worked on a plan to revive the economy after the 2008 financial crisis. Romer collaborated with economist Jared Bernstein on this project. She held the position of chair until September 3, 2010 when she transitioned to becoming a member of the President's Economic Recovery Advisory Board. Romer's expertise and research findings greatly influenced economic policy decisions during the Obama administration.

Personal Life

Christina Romer is married to David Romer, her fellow student from the Massachusetts Institute of Technology and colleague at the University of California.