Macroeconomist & Monetary Policy Expert; John Bates Clark Professor at Columbia University; Author of "Interest and Prices"; Nobel Prize in Economics Laureate
Michael Woodford Biography
Michael Woodford is a macroeconomist known for his contributions to modern monetary economics. He holds the John Bates Clark Professor of Political Economy position at Columbia University. Woodford earned a Bachelor of Arts from the University of Chicago, a Juris Doctor from Yale Law School, and a doctorate from the Massachusetts Institute of Technology. He previously served as a professor of economics at Princeton University and the University of Chicago.
The Royal Swedish Academy of Sciences recognized Woodford for work connecting household and business decisions to inflation, unemployment, and government policies used to stabilize economies. Alongside Robert Hall of Stanford University, Woodford was honored for research on how households and businesses make decisions on purchases and pricing, forming the foundation of the New Keynesian approach to economics. The award was given for microeconomic foundations of macroeconomic stabilization.
Woodford is known for the book "Interest and Prices: Foundations of a Theory of Monetary Policy," which has become a standard reference for monetary theory and analysis among academic economists and central banks. The Nobel committee highlighted Woodford's construction of a comprehensive macroeconomic model built on microeconomic foundations, introduced in this book. He developed a new generation of dynamic general equilibrium models that allowed monetary policy to influence the economy. Woodford is also co-editor of the "Handbook of Macroeconomics" and has contributed to other major works in the field.
His research addresses the implications of bounded rationality for economic analysis, drawing on cognitive psychology and neuroscience. Woodford focuses on developing macroeconomic approaches that relax the assumption of rational expectations and examines the consequences of boundedly rational expectations for monetary and fiscal policy. He has been recognized for advancing the New Keynesian approach to understanding economic fluctuations in general equilibrium, bridging theory and practice in monetary policy, and incorporating bounded rationality in macroeconomics.
Woodford has been a MacArthur Fellow and a Guggenheim Fellow, and is a Fellow of the American Academy of Arts and Sciences, the Econometric Society, the Society for the Advancement of Economic Theory, and the Society for Economic Measurement. He is also a Research Associate of the National Bureau of Economic Research. In addition to the Nobel Prize, Woodford received the Deutsche Bank Prize, the Erwin Plein Nemmers Prize in Economics, and the BBVA Foundation Frontiers of Knowledge Award in Economics and Finance. His work has provided central banks and governments with theoretical tools for navigating economic crises, establishing him as a significant figure in economics and monetary policy.
Michael Woodford Videos
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Michael Woodford is a keynote speaker and industry expert whose speaking topics include Economy, Finance, Government, Professors -
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Michael Woodford is a keynote speaker and industry expert who speaks on a wide range of topics. The estimated speaking fee range to book Michael Woodford for your event is available upon request. Michael Woodford generally travels from and can be booked for (private) corporate events, personal appearances, keynote speeches, or other performances. Similar motivational celebrity speakers are Robert E. Hall, Mário Centeno, Adriana Kugler, José Manuel Campa and Guido Imbens. Contact All American Speakers for ratings, reviews, videos and information on scheduling Michael Woodford for an upcoming live or virtual event.
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