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Randall HINSHAW

Randall HINSHAW, economist in the field of International Trade Theory; Trade Relations: Commercial Policy; International Economic Integration; Balance of Payments; International Finance. Phi Beta Kappa; Club Fellow, Princeton University, 1940-1941; Visiting Fellow, Council Foreign Relations, New York, 1959-1960.

Background

  • HINSHAW, Randall was born in 1915 in La Grange, Illinois, United States of America.

  • Education

    • Bachelor of Arts, Master of Arts Occidental College, 1937, 1938. Doctor of Philosophy Princeton University, 1944.

    Career

    • Economics, Bureau Foreign Domestic Commerce, United States Department Commerce, 1942. Teaching Fellow Economics, Harvard University, 1942-1943. Economics, Division International Finance, Federal Reserve Board, 1943-1946, 1947-1952.

      Assistant Professor of Economics, Amherst College, 1946-1947. Special Adviser, International Monetary Problems, United States Mission NATO and European Regional Orgs., Paris, 1952-1957. Deputy United States Representative, European Payments Union, Paris, 1952-1953.

      Adviser, United States Delegation United Nations Meetings East-West Payments Problems, Geneva, 1955-1957. Visiting Professor of Economics, Yale University, 1957-1958, Oberlin College, 1958-1959, University S. California, 1963-1964, Johns Hopkins University, Bologna Center, 1965-1968, 1971, University of California, Los Angeles, Calif., United States of America, 1968. Professor of Economics, Claremont Graduate School, 1960-1982.

      Director, Bologna-Claremont-Hamburg Series Biennial Monetary Confs., Claremont Graduate School, Claremont, California, United States of America, since 1982. Editor, BolognaClaremont-Hamburg Series Biennial Monetary Conferences, since 1967.

    Major achievements

    • Phi Beta Kappa; Club Fellow, Princeton University, 1940-1941. Visiting Fellow, Council Foreign Relations, New York, 1959-1960.

    Views

    The first to make an estimate of the average price elasticity of the United States demand for (merchandise) imports. Low figure of -0.5, published in 1945, led to a considerable body of literature on ‘elasticity pessimism’. Have made various contributions to exchange-rate-theory — particularly to the effect of exchange-rate changes on the domestic price level, on the terms of trade, on nominal and real absorption, and on other aspects of international adjustment.

    Like others who first studied economics during the Great Depression, my interests are strongly policy-oriented. My early work was greatly influenced by Frank D. Graham. Other important intellectual influences have been Lloyd Metzler, Gottfried Haberler, Roy Harrod and, more recently, Robert Mundell.

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