Raymond Eugene Lombra

Background

Lombra, Raymond Eugene was born on February 11, 1946 in New Haven. Son of Eugene Lawrence and Elsie (Pia) Lombra.

Education

Bachelor of Arts in Economics, Providence College, 1967. Master of Arts in Economics, Pennsylvania State University, 1968. Doctor of Philosophy, Pennsylvania State University, 1971.

Career

Instructor economics Pennsylvania State University, University Park, 1969-1971. Senior staff economist Federal Reserve System, Washington, 1971-1977. Associate professor University Düsseldorf.C. Graduate School Business, 1975-1977.

Associate professor economics Pennsylvania State University, University Park, 1977-1981, professor economics, since 1981. Consultant House Banking Committee United States Congress, Federal Reserve System, Congressional Budget Office, Joint Economic Committee, E.F. Hutton, Prudential-Bache, Morgan-Stanley, International Monetary Fund.

Achievements

• National Defense Education Act Fellow, 1967.

Works

• Other Work

  • Author numerous books in economics. Contributor articles to professional journals.

Views

During the preparation of my thesis on Federal Reserve behaviour, it increasingly became obvious that the widespread practice of assuming an exogenous money stock represented a fundamental and potentially serious flaw in received theoretical and empirical work. Accordingly, assessing the sources and consequences of an endogenous money stock (and interest rates) has been a central focus and unifying theme of much of my work. Early work on the effectiveness of monetary and fiscal policy emphasised how the actual conduct of policy influenced causal relationships and the dynamic adjustment of the real and financial sectors of the economy.

Subsequently, more intensive examination of the actual formulation and implementation of policy developed the costs and benefits of alternative policy strategies, the role of international openness in the conduct of policy, and the political economy of policy-making. Most recently, my research has focussed on the effects of financial innovation, deregulation, and changing policy procedures on the causal role of real and nominal interest rates, and the effects of such ongoing changes on the identification and estimation of money supply and money demand functions. The ultimate goal of such research is a better understanding of how policy can contribute to economic stability.

Membership

Served to captain United States Army, 1967-1974. Member American Economic Association, Southern Economic Association, Western Economic Association, Omicron Delta Epsilon.

Connections

Married Roberta Ann Pirk, September 4, 1967. Children: Sherri, Brian and Todd (twins).

Father:

Eugene Lawrence Lombra

Mother:

Elsie (Pia) Lombra

Spouse:

Roberta Ann Pirk

child:

Sherri Lombra

child:

Brian and Todd Lombra (twins)