Robert B. Barro is an acclaimed American macroeconomist and a devoted follower of the classical economic philosophies of David Ricardo. His academic work is highly sought after, by universities, businesses and policy think tanks alike.
Born in Brooklyn, New York on September 28, 1944, Robert Barro earned his bachelors and masters degrees in economics from Harvard University. After completing his doctoral studies at Harvard, Barro went on to be a professor at the University of Chicago and then at the Harvard Business School.
Barros interest in economics began early in life when he encountered his namesake, David Ricardo, one of the fathers of modern economics. During his studies in college, Barro looked at Ricardos work and built upon it in new and interesting ways. His major contributions to economics include his work on optimum taxation, the political economy of growth, the rational expectations theory, New Keynesian economics and the Ricardian equivalence theorem.
One of the major themes of Barros work has been the idea of intertemporal substitutability. This idea looks at how people will substitute one good for another in the future if certain conditions are met. In other words, how willing are people to trade future goods for current goods. Barro has developed ways to measure this propensity and has used it to analyze the optimum levels of taxation and income redistribution.
Barros contributions to the field of economics have resulted in him being awarded with numerous honors, including a 2007 Nobel Prize in Economics. He has since become a much sought after lecturer and advisor, giving talks in numerous forums around the world.
Today, Robert Barro continues to be a leader in the world of macroeconomics. He is often cited in articles, books and newspapers on the subject of economics and is considered one of the preeminent voices in the debate over economic policies. From his many years of work he has created an influential platform from which other economists can gain insight, knowledge and wisdom.
Barros work has had an undeniable impact on the economic policies of the United States. He was an advisor to President Ronald Reagan, which helped shape Reagans economic policies. He has also served as an economic consultant for the Federal Reserve, the School of International and Public Affairs at Columbia, and the Bank of England, among others.
Robert Barros influence on economics is undeniable. His legacy is one of innovation, creativity and insight. His research and writings have guided scholars and practitioners alike down the path of economic growth and prosperity, while inspiring many others to do the same. For all of these accomplishments, Barro has earned a place of distinction in the annals of macroeconomic thought and continues to be an admired and respected figure in the world of economics.
