Alan Krueger

Alan Krueger
Princeton University · CC BY-SA 4.0 · source
Name	Alan Krueger
Birth date	September 17, 1960
Death date	March 16, 2019
Institution	Princeton University
Field	Labor economics
Alma mater	Harvard University, Princeton University
Influences	Orley Ashenfelter, David Card
Contributions	Wage curve, Minimum wage research

Alan Krueger was a renowned American economist who made significant contributions to the field of labor economics, particularly in the areas of minimum wage and unemployment. His work was heavily influenced by prominent economists such as Orley Ashenfelter and David Card, and he was a leading figure in the development of the wage curve theory. Krueger's research was widely published in esteemed journals, including the Journal of Economic Literature and the Quarterly Journal of Economics, and he was a frequent contributor to The New York Times and The Wall Street Journal. He was also a member of the National Bureau of Economic Research and the American Economic Association.

● Early Life and Education

Alan Krueger was born on September 17, 1960, in Livingston, New Jersey, to a family of Jewish descent. He grew up in a middle-class household with his parents, Eleanor Krueger and David Krueger, and developed an interest in economics at an early age. Krueger attended Livingston High School and later enrolled at Harvard University, where he earned his Bachelor of Arts degree in economics in 1983. He then pursued his graduate studies at Princeton University, earning his Master of Arts degree in 1985 and his Ph.D. in 1987 under the supervision of Orley Ashenfelter and David Card. During his time at Princeton University, Krueger was exposed to the works of prominent economists such as Milton Friedman, Joseph Stiglitz, and Paul Krugman, which shaped his research interests and methodology.

● Career

Krueger began his academic career as an assistant professor at Princeton University in 1987, where he taught courses on labor economics and econometrics. He later became a full professor in 1992 and served as the chair of the Department of Economics from 1996 to 1999. In 2000, Krueger took a leave of absence from Princeton University to serve as the chief economist at the United States Department of Labor under President Bill Clinton. He worked closely with Secretary of Labor Robert Reich and Deputy Secretary of Labor Thomas Perez to develop and implement labor market policies. Krueger also held visiting appointments at Stanford University, University of California, Berkeley, and the London School of Economics, where he collaborated with scholars such as George Akerlof, Daniel Kahneman, and Amartya Sen.

● Research and Publications

Krueger's research focused on various aspects of labor economics, including the minimum wage, unemployment, and income inequality. His seminal work on the wage curve theory, which posits that higher minimum wages can lead to lower unemployment rates, was widely cited and influential. Krueger published numerous papers in top-tier journals, including the Journal of Economic Literature, Quarterly Journal of Economics, and the American Economic Review. He also authored several books, including "Myth and Measurement: The New Economics of the Minimum Wage", co-authored with David Card, which challenged conventional wisdom on the effects of minimum wage increases. Krueger's work was recognized by his peers, and he was awarded the IZA Prize in Labor Economics in 2006, which is considered one of the most prestigious awards in the field of labor economics.

● Policy and Government Service

Krueger's expertise in labor economics led to his appointment as the chair of the Council of Economic Advisers under President Barack Obama in 2011. He played a key role in shaping the administration's economic policies, including the American Recovery and Reinvestment Act and the Affordable Care Act. Krueger worked closely with President Obama, Vice President Joe Biden, and other senior officials, such as Treasury Secretary Timothy Geithner and Federal Reserve Chairman Ben Bernanke, to develop and implement policies aimed at promoting economic growth and reducing unemployment. He also served on the Federal Reserve Bank of New York's Economic Advisory Panel and was a member of the National Academy of Sciences.

● Awards and Legacy

Throughout his career, Krueger received numerous awards and honors for his contributions to economics. In addition to the IZA Prize in Labor Economics, he was awarded the American Economic Association's John Bates Clark Medal in 1994 and the National Academy of Sciences' National Medal of Science in 2010. Krueger was also elected as a fellow of the American Academy of Arts and Sciences and the Econometric Society. His legacy continues to influence research in labor economics, and his work remains widely cited and respected by scholars and policymakers, including Federal Reserve Chairman Jerome Powell and World Bank President David Malpass. Krueger's contributions to the field of economics have had a lasting impact on our understanding of labor markets and economic policy, and his work will continue to shape the field for generations to come. Category:American economists