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Anna Jacobson Schwartz Edit Profile

Economist

Anna Jacobson SCHWARTZ, economist in the field of Economic Fluctuations; Stabilisation and Inflation; Domestic Monetary and Financial Theory and Institutions; Balance of Payments; International Finance. Phi Beta Kappa; Murray Fellow, Barnard College, 1934-1935; Member, Shadow Open Market Committee, since 1973.

Background

SCHWARTZ, Anna Jacobson was born in 1915 in New York City, New York, United States of America.

Education

Bachelor, Barnard College, 1934. Master of Arts, Columbia University, 1935. Doctor of Philosophy, Columbia University, 1964.

Doctor of Letters (honorary), University Florida, 1987. Doctor of Letters (honorary), Emory University, 2000. Doctor of Arts (honorary), Stonehill College, 1989.

Doctor of Laws (honorary), Iona College, 1992. Doctor of Laws (honorary), Rutgers University, 1998. Doctor of Humane Letters (honorary), City University of New York, 2000.

Doctor of Laws (honorary), Williams College, 2002. Doctor of Humane Letters (honorary), Loyola University, Chicago, 2003. Doctor of Science (honorary), City University, London, 2006.

Career

Research Association, Columbia University, United States Social Science Research Council, United Kingdom or United States of America, 1936-1941. Instructor, Brooklyn College, 1952. Instructor, Baruch College, New York, 1959-1960.

Adjunct Professor, Graduate Division, Hunter College, New York,

9. Adjunct Professor, New York University, NYC, New York, USA Graduate School Arts and Science, 1969-1970. Staff Director, United States Gold Commission, 1981-1982.

Research Association, National Bureau of Economie Research, New York, New York, United States of America, New York, since 1941. Editorial Boards, American Economic Review,

8, Journal of Money, Credit and Banking, 1974-1975, since 1984. Journal of Monetary Economics, since 1975.

Achievements

  • Phi Beta Kappa; Murray Fellow, Barnard College, 1934-1935. Member, Shadow Open Market Committee, since 1973. Honorary Visiting Professor, City University Business School, London, since 1984.

    President, Western Economic Association, USA, since 1987.

Works

  • book

  • Other Work

    • Co author: (with Milton Friedman) Monetary History of the United States, 1897-1960, Monetary Statistics of the United States: Estimates, Sources, Methods, 1970, (with Arthus Gayer and Walt Whitman Rostow) Growth and Fluctuations in the British Economy, 1790-1850: An Historical, Statistical and Theoretical Study of Britain's Economic Development, 1953, (with Michael D. ordo & Milton Friedman) Money in Historical Perspective, 1987. Member editorial board American Economic Review, 1972-1978, Journal Money, Credit and Banking, 1974-1975, 84—, Journal Monetary Economics, since 1975, Journal Finance Services Research, since 1993. Contributor articles to professional journals.

Views

The research project I was first associated with, the growth and fluctuation of the British economy, 1790-1850, was a wideranging historical study that provided experience in careful data collection and anlysis of cyclical developments based on National Bureau of Economie Research, New York, New York, United States of America statistical measures, but deficient in what I later came to regard as significant: the role assigned to monetary policy, the interpretation of the behaviour of interest rates, and price level rather than relative price changes. Emphasis on these economic factors I owe to the influence of Milton Friedman on my intellectual development. He was the central figure, I hardly need say, in inspiring the post-World War II revival of professional interest in money demand and supply and their interaction with nominal and real variables.

The findings of our research supported the conclusion that changes in the quantity of money have important and broadly predictable economic effects among which the following may be noted: (1) changes in the growth rate of money affect the growth rate of nominal income. (2) instability in the growth rate of money is associated with instability in the growth of nominal income. (3) long-run changes in the growth rate of money relative to growth in output determine the long-run behaviour of prices, while short-run

changes in the growth rate of money are an important element in the ordinary business cycle.

(4) a sustained change in the growth rate of money tends to be followed by a change in the inflation rate in the same direction after a lag of several years. (5) short-run changes in the growth rate of money tend to be followed by changes in the same direction of real output after a lag of several quarters. And (6) substantial contractions in the growth rate of money over short periods have been a major factor in producing severe economic contractions.

Membership

Fellow American Academy Arts & Sciences. Member Western Economic Association (president 1987-1988).

Connections

Married; 4 children.