Brad DeLong's Short Biography

Berkeley

J. Bradford DeLong: Department of Economics, U.C. Berkeley #3880, Berkeley, CA 94720-3880; 925 708 0467; delong@econ.berkeley.edu

J. Bradford DeLong is a professor of economics and an associate director of the Blum Center at U.C. Berkeley, which he jointed as an associate professor in 1993; and a weblogger at the Washington Center for Equitable Growth. Professor DeLong was also a deputy assistant secretary of the U.S. Treasury for Economic Policy from 1993 to 1995, where he worked on the gamut of Clinton Administration policies—the 1993 budget, on the Uruguay Round of the General Agreement on Tariffs and Trade, on the North American Free Trade Agreement, on macroeconomic policy, and on the unsuccessful health care reform effort.

At the moment, Google says he is best known for:

"Noise Trader Risk in Financial Markets"—how Milton Friedman's claim that irrational investors must in equilibrium have no impact on market prices is simply, well, wrong
"Fiscal Policy in a Depressed Economy"—how when inflation is as quiescent and interest rates as low as they have been since 2001, bond- and money-financed expansions of government purchases are, when properly hedged, truly a win-win free lunch that competent governments would pursue
"Did J.P. Morgan's Men Add Value?"—a vignette about reputation, managerial competence, oversight, and the benefits to society of long-term greedy plutocratic investment banks
"The 'New Economy': Background, Historical Perspectives, Questions, and Speculations"—how the "Smithian" image of the economy that we economists have held in the forefront of our minds since 1776 is obsolete
Plus: "America's Peacetime Inflation: the 1970s", "Globalization and Convergence", "The U.S. Equity Return Premium: Past, Present, and Future", "Sustaining U.S. Economic Growth", "Asset Returns and Economic Growth", and "Cornucopia: The Pace of Economic Growth in the 20th Century"

J. Bradford DeLong is:

The Department of Economics at U.C. Berkeley, where he works;
The Blum Center, where he is chief economist;
The Washington Center for Equitable Growth, where he is a weblogger.

J. Bradford DeLong was (during the Clinton administration) a deputy assistant secretary for economic policy at the U.S. Treasury.

His best work extends from business cycle dynamics through economic growth, behavioral finance, political economy, economic history, international finance to the history of economic thought and other topics, including:

“Aftathoughts on NAFTA” (2006),

“America’s Peacetime Inflation: the 1970s” (book chapter, 1997),

"American Fiscal Policy in the Shadow of the Great Depression",

"Asset Returns and Economic Growth".“Did JP Morgan’s Men Add Value?” (book chapter, 1991),

“The Case for Mexico’s Rescue” (1996),

"Equipment Investment and Economic Growth",

“Fiscal Policy in a Depressed Economy” (BPEA, 2012),

“Have Productivity Levels Converged? Productivity Growth, Convergence, and Welfare in the Very Long Run” (AER, 1989),

“Is Increased Price Flexibility Stabilizing?” (AER, 1986),

"Keynesianism, Pennsylvania-Avenue Style",

“Meltdown to Moral Hazard: the International Monetary and Financial Policies of the Clinton Administration” (book chapter, 2001),

“The Melting-Away of North Atlantic Social Democracy”,