Council of Economic Advisers in the context of "Martin Feldstein"

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⭐ Core Definition: Council of Economic Advisers

The Council of Economic Advisers (CEA) is a United States agency within the Executive Office of the President established in 1946, which advises the president of the United States on economic policy. The CEA provides much of the empirical research for the White House and prepares the publicly-available annual Economic Report of the President. The council is made up of its chairperson and generally two to three additional member economists. Its chairperson requires appointment and Senate confirmation, and its other members are appointed by the president.

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👉 Council of Economic Advisers in the context of Martin Feldstein

Martin Stuart Feldstein (/ˈfɛldstn/ FELD-styne; November 25, 1939 – June 11, 2019) was an American economist. He was the George F. Baker Professor of Economics at Harvard University and the president emeritus of the National Bureau of Economic Research. He served as president and chief executive officer of the bureau from 1978 to 2008 (with the exception of 1982 to 1984). From 1982 to 1984, Feldstein served as chairman of the Council of Economic Advisers and as chief economic advisor to President Ronald Reagan (where his deficit hawk views clashed with the Reagan administration's large military expenditure policies). Feldstein was also a member of the Washington-based financial advisory body the Group of Thirty from 2003.

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Council of Economic Advisers in the context of National Bureau of Economic Research

The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic community." The NBER is known for proposing start and end dates for recessions in the United States.

Many chairpersons of the Council of Economic Advisers were previously NBER research associates, including the former NBER president and Harvard professor Martin Feldstein. The NBER's current president and CEO is James M. Poterba of MIT.

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Council of Economic Advisers in the context of Executive Office of the President of the United States

The Executive Office of the President of the United States (EOP) comprises the offices and agencies that support the work of the president at the center of the executive branch of the United States federal government. The office consists of several offices and agencies, such as the White House Office (the staff working closest with the president, including West Wing staff), the National Security Council, Homeland Security Council, Office of Management and Budget, Council of Economic Advisers, and others. The Eisenhower Executive Office Building houses most staff.

The office is also referred to as a "permanent government", since many policy programs, and the people who are charged with implementing them, continue between presidential administrations.

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Council of Economic Advisers in the context of Douglas Irwin

Douglas A. Irwin is the John French Professor of Economics in the Economics Department at Dartmouth College and the author of seven books. He is an expert on both past and present U.S. trade policy, especially policy during the Great Depression. He is frequently sought by media outlets such as The Economist and Wall Street Journal to provide comment and his opinion on current events. He also writes op-eds and articles about trade for mainstream media outlets like The Wall Street Journal, The New York Times, and Financial Times. He is also a nonresident senior fellow at the Peterson Institute for International Economics.

Prior to his appointment to as professor at Dartmouth, Irwin was an associate professor of business economics at the University of Chicago Booth School of Business, an economist for the Board of Governors of the Federal Reserve System, and an economist for the Council of Economic Advisers Executive Office of the president.

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Council of Economic Advisers in the context of James Tobin

James Tobin (March 5, 1918 – March 11, 2002) was an American economist who served on the Council of Economic Advisers and consulted with the Board of Governors of the Federal Reserve System, and taught at Yale University. He contributed to the development of key ideas in the Keynesian economics of his generation and advocated government intervention in particular to stabilize output and avoid recessions. His academic work included pioneering contributions to the study of investment, monetary and fiscal policy and financial markets. He also proposed an econometric model for censored dependent variables, the well-known tobit model.

Along with fellow neo-Keynesian economist James Meade in 1977, Tobin proposed nominal GDP targeting as a monetary policy rule in 1980. Tobin received the Nobel Memorial Prize in Economic Sciences in 1981 for "creative and extensive work on the analysis of financial markets and their relations to expenditure decisions, employment, production and prices."

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