Mark Gertler (economist)
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Mark Lionel Gertler (born March 31, 1951) is an American economist and Henry and Lucy Moses Professor of Economics at New York University. A specialist in business cycles and monetary policy, he has been an associate and collaborator of Federal Reserve Chairman Ben Bernanke for more than 30 years. He is among the 10 leading economists in the world based on to IDEAS/RePEc, a collaborative database effort which provides statistical analysis of the professional publications and citation records of leading economists.
Gertler completed his B.A. in May, 1973 from the University of Wisconsin-Madison and his Ph.D. in June, 1978 from Stanford University. He worked on the faculty of Cornell University and the University of Wisconsin-Madison before joining the faculty at NYU.
"Should Central Banks Respond to Movements in Asset Prices?" is the title of a paper that Gertler published in 2001, together with Ben Bernanke, in the American Economic Review. Bernanke went on, a few years later, to become Chairman of the Federal Reserve Board of Gorverners, replacing Alan Greenspan. Although the paper deals retrospectively with the stock market bubble of the Internet years, it has become one of the most widely cited policy papers in economics, outside the field as well as within. Bernanke and Gertler argue that the practice of targeting inflation and price stability, as the Federal Reserve has done since the 1980s, should be continued, while the more aggressive approach of managing "asset price bubbles" that some economics have advocated, would be ineffective or counterproductive.
[edit] References
- Ben Bernanke and Mark L. Gertler. "Should Central Banks Respond to Movements in Asset Prices?" American Economic Review 91:2 (2001), 253-257.
- Remarks by Governor Ben S. Bernanke (2002)
- CV of Mark L. Gertler
- Details about Mark Gertler
