Carl E. Walsh

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Carl E. Walsh is a Professor of Economics (1987-) and Vice Provost of the Silicon Valley Initiatives (2005-) at the University of California, Santa Cruz as well as Economist at the Federal Reserve Bank of San Francisco (1985-).

Contents 1 Academic Life 2 Federal Reserve 3 Educational Background 4 Walsh Contract 5 Selected Publications 6 External links 7 See also 8 References

[edit] Academic Life

He is a Professor of Economics at UCSC. He joined the faculty in 1987, having been an Assistant Professor at Princeton University as well as a Visiting Professor at Stanford University and UC Berkeley. He is also Vice Provost of the Silicon Valley Initiatives at UCSC (2005-).^{[1] [2][3]}

[edit] Federal Reserve

He is a Visiting Scholar (1987-) and was previously a Senior Economist (1985-1987) at the Federal Reserve Bank of San Francisco. He was also a Visiting Senior Economist at the Federal Reserve Bank of Philadelphia from 1984 to 1985, a Visiting Scholar in the International Finance Division of the Federal Reserve Board in July, 1984, and a Visiting Scholar at the Federal Reserve Bank of Kansas City from 1982 to 1983.

[edit] Educational Background

He received his Ph.D. in Economics in 1976 and A.B. in Mathematics and Economics in 1971 from the University of California, Berkeley. He has written two textbooks and has authored or coauthored numerous articles and chapters, mostly scientific.

[edit] Walsh Contract

Carl Walsh is best known for his monetary policy theory commonly known as the "Walsh Contract." His theory became widely publicized through the publication of his paper "Optimal Contracts for Central Bankers" in the American Economic Review.^[4] The subject has been debated by numerous economists including current Chairman of the Federal Reserve Ben S. Bernanke.^[5] His theory has also been questioned by Francisco Candel-Sánchez and Juan Cristóbal Campoy-Miñarroy.^[6] In addition, Haizhou Huang and A. Jorge Padilla have commented on the concept.^[7]

[edit] Selected Publications

• "Optimal Contracts for Central Bankers," March, 1995, Vol. 85, No. 1, pp. 150-167. American Economic Review. Origins of the "Walsh Contract."
• Monetary Theory and Policy, 2nd edition, with Joseph E. Stiglitz, 2003. MIT Press. ISBN 0262232316. Standard graduate-level textbook.
• Economics, 4th edition, with Joseph E. Stiglitz, 2006. W. W. Norton. ISBN 0393926222. Modern introductory economics textbook.

[edit] External links

• Prof. Walsh's Home Page
• Prof. Walsh's Selected Recent Publications
• UC Santa Cruz
• UC Santa Cruz Department of Economics

[edit] See also

• Macroeconomics
• Monetary Policy
• Monetary Theory
• International finance
• Inflation

[edit] References

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