Emi Nakamura

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Emi Nakamura
PhD)
SpouseJón Steinsson
AwardsJohn Bates Clark Medal, 2019
Ariel Pakes
Websitehttps://eml.berkeley.edu/~enakamura/

Emi Nakamura is a Canadian-American economist. She is the Chancellor's Professor of Economics at University of California, Berkeley.[2] Nakamura is a research associate and co-director of the Monetary Economics Program of the National Bureau of Economic Research,[3] and a co-editor of the American Economic Review.[4][5]

Education

Nakamura graduated summa cum laude from

Michael Woodford.[6] Nakamura then went on to pursue graduate studies in economics at Harvard University, receiving a Ph.D. in economics in 2007 after completing her doctoral dissertation, titled "Price Adjustment, Pass-through and Monetary Policy", under the supervision of Robert Barro and Ariel Pakes.[7]

Research

Nakamura's research focuses on empirical issues in

price stickiness, the impact of fiscal shocks, and measurement errors in official statistics. Her citation for the John Bates Clark Medal from the American Economic Association states that Nakamura has "greatly increased our understanding of price-setting by firms and the effects of monetary and fiscal policies", and cited her "creativity in suggesting new sources of data to address long-standing questions".[8] Nakamura is a prominent figure in the field of new Keynesian economics, which incorporates microeconomic theories and ideas and places them into macroeconomic theories. Nakamura demonstrates this in her work, “Five facts about prices”, by including microdata from the Bureau of Labor Statistics to prove macroeconomic ideas.[8]

In her most cited work, "Five facts about prices", Nakamura and Jón Steinsson showed that many measured price changes are due to temporary sales, scheduled far in advance, rather than happening as dynamic responses to economic conditions. This suggested that even though economic data features frequent price changes, this can be compatible with macroeconomic models featuring substantial price rigidity.[9] In another highly cited work, "Fiscal stimulus in a monetary union", she and Jón Steinsson use variation in United States government military spending across states to estimate the open-economy government spending multiplier, finding values substantially higher than one. This confirms the prediction of Keynesian macroeconomic models that fiscal stimulus can have substantial effects on output, particularly at the zero lower bound.[9]

Recognition

She was awarded the

Fellow of the Econometric Society.[16]

Personal life

Nakamura is married to fellow economist and frequent co-author Jón Steinsson, with whom she has two children.[17] She is the granddaughter of economist Guy Orcutt, and the daughter of economists Alice Nakamura and Masao Nakamura.[18][19]

Selected works

Inflation and price dispersion

  • Nakamura, Emi; Steinsson, Jón (2008). "Five facts about prices: A reevaluation of menu cost models". The Quarterly Journal of Economics. 123 (4): 1415–1464.
    S2CID 1576112
    .
  • Nakamura, Emi; Steinsson, Jón; Sun, Patrick; Villar, Daniel (2018). "The Elusive Costs of Inflation: Price Dispersion during the U.S. Great Inflation" (PDF). Quarterly Journal of Economics. 133 (4): 1933–1908.
    S2CID 14408509
    .

Monetary policy

Fiscal policy

Economic crises

References

  1. ^ https://eml.berkeley.edu/~enakamura/cvenweb.pdf [bare URL PDF]
  2. ^ "Emi Nakamura". Department of Economics. Retrieved May 13, 2020.
  3. ^ "Emi Nakamura". www.nber.org. Retrieved May 13, 2020.
  4. ^ "Editors of the American Economic Review". American Economic Association. Retrieved August 28, 2018.
  5. ^ "Meet our new faculty: Emi Nakamura, economics". Berkeley News. November 14, 2018. Retrieved April 18, 2019.
  6. ^ Nakamura, Emi. Woodford, Michael; Princeton University. Department of Economics (eds.). "An Economy with Monetary Business Cycles". {{cite journal}}: Cite journal requires |journal= (help)
  7. ^ "Emi Nakamura - CV" (PDF).
  8. ^ a b c "Emi Nakamura, Clark Medalist 2019". American Economic Association. Retrieved May 1, 2019.
  9. ^ a b "Interview: Emi Nakamura" (PDF). Econ Focus--A publication of the Richmond Federal Reserve Bank. 2015.
  10. ISSN 0895-3309
    .
  11. ^ "Emi Nakamura". American Academy of Arts & Sciences. Retrieved January 7, 2021.
  12. ^ Emi Nakamura Recipient of the 2014 Elaine Bennett Research Prize. American Economic Association. aeaweb.org
  13. ^ "Emi Nakamura Receives AEA's Elaine Bennett Research Prize | Columbia University - Economics". econ.columbia.edu. Archived from the original on December 23, 2017. Retrieved August 7, 2017.
  14. ^ "NBER Reporter 2015 Number 1: Research Summary". www.nber.org. Retrieved August 7, 2017.
  15. ISSN 0013-0613
    . Retrieved October 29, 2020.
  16. ^ "Congratulations to our 2021 Fellows". The Econometric Society. September 22, 2021. Retrieved October 29, 2021.
  17. ISSN 0362-4331
    . Retrieved August 7, 2017.
  18. ^ "An Interview with Emi Nakamura". CSWEP News. 2015.
  19. ^ CSWEP Talks. aeaweb.org
Awards
Preceded by Recipient of the John Bates Clark Medal
2019 		Most recent
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