Essay on Christina Romer

Submitted By precioustwhite
Words: 1281
Pages: 6
Open Document
Christina Romer and Economics

Married to economist David Romer, and supporting three children, many people may ask who Christina Romer is. Christina Romer is an amazing woman who is mostly known for her role as a former Chairwoman of the council of economic adviser serving under President Obama. She is known mainly known for being a professor as well as for her research and investigations that she found through taking a deep look at the Great Depression. She is also known for her attempt of strategy by creating an original and logical idea of making the country a better place through economic means. She is an overall amazing woman that has attempted to create a better for place for the citizens of this country. This woman really is amazing for what she has done and has tried to accomplish. Throughout this essay I will explain why she is so great although many people have yet to believe different. Christina Romer was born in December 25, 1958 in Alton, Illinois, United States. She graduated in 1977 from Glen Oak High School which is located in Canton, Ohio, United States. She then attended The College of William& Mary in 1981 where she ended up receiving her Bachelor’s degree in economics. In 1985, she received her Ph.D. from Massachusetts Institute of Technology. After her accomplishments and her completion involving academics, she started working as an assistant professor at Princeton University. After teaching at Princeton, she moved to the University of California Berkeley which is where she received her promotion as a full time professor in 1993. Handpicked by our current President Barack Obama in his first term of presidency, Christina Romer became the chairwoman of the White House Council of Economic Advisers in the Obama Administration in 2008. Contributions to economics in Romer’s life seem to have sequencing regarding ways to rise our economy; Christina Romer is known for her high research in the causes and effects of Great Depression, as well as her involvement regarding fiscal and monetary policy from the Great Depression. She also focused a lot on the comparisons of macroeconomic volatility before and after World War I, and she used strategies to attempt to fix the crisis in our economy. She came up with many logical ideas as well as how she researched and studied a lot of documents regarding the economic problems that were applied before and after the Great Depression which is known as the “New Deal”. She predicted that fiscal policy, which has to do with taxes, didn’t really play much importance to the economic crisis. Because of her research, she found and was more convinced that economic policies that were applied to the Great Depression was what helped America fade away from that tragic event in history; however not a lot of people predicted or are convinced to believe that the study of that prediction was true. She came to conclusion that all the economic factors of the Great Depression are similar to the economic factors of the present day life. The greatest challenge, she believed, was to lower the percentage of unemployment rate as well as incrementing the rate of production with the involvement of firm and strong policies. Another contribution while she was held in this position was that Christina Romer along with her husband, David Romer predicted that when the tax policies are under the influence of exogenous causes, the budget of the government starts to deflate which leads to the growth of the economy to go down. Romer is also a modern economist that prefers the usage of macroeconomics only when it is necessary; this means that Romer thinks that the economy of one country has independent forces that permits that country to accomplish balance--only when it is necessary, the government is supposed to apply forces and politics regarding microeconomics only whenever these forces end up becoming unbalanced. Another idea that Romer thought of
Show More

Related Documents: Essay on Christina Romer

Gilded Age And The Great Depression

The Great Depression is remembered as one of the worst economic collapses in the history of modern economics. The interwar period, between the World Wars, proved to continue the theme of destruction during the first half of the 19th Century. The effects of the Great Depression were felt on nearly every continent, excluding Africa and Australia. We have not looked into the data for those regions. The 1920’s, in America, were known as the roaring twenties because of consumerism and utilization of lines…

Words 271 - Pages 2

Great Depression Causes

Causes of The Great Depression Fundamental cause – contraction in spending i.e. aggregate demand. Decline in production as inventory level at manufacturers and merchandisers increased. Transmitted to rest of the world mainly through the gold standard. Variety of other factors also fuelled the downturn in various countries. Major causes are discussed here. Stock Market Crash Decline in output occurred in the U.S. during the summer of 1929. Stemmed from tight U.S. monetary policy aimed at…

Words 676 - Pages 3

Essay on the burder f america's debt

The nation’s debt is difficult to fix when Americans have to worry about their own debts. As more Americans lose and are troubled to find jobs, unemployment keeps rising. Though what is exactly the cause of an increase of unemployment? Christine Romer from The New York Times states in her article, “About 11 million families are underwater on their mortgages, which means they owe more than their homes are currently worth. This could make it harder for them to sell their homes and move to jobs in…

Words 2361 - Pages 10

The Resolution to the Rise of the Unemployment Rate in the United states Essay example

The Resolution to Raising the Unemployment Rate in the United States Precious Johnson CM 104-04 Professor Johnson 8/24/2010 The Resolution to Raising the Unemployment Rate in the United States There are a lot of things in life that are not guaranteed or secure, therefore people should live their life to the best of their ability. Everyone wants the feeling of job security, but the reality is there is none. The rising unemployment rate amongst the United States citizens…

Words 1258 - Pages 6

Essay about Economic Crisis

banks would simply collect the insurance money from those loans. It was basically a no risk decision. This caused a lot of people to be in debt and foreclose their homes which eventually led to the stock market freezing up. One economist named Christina Romer said: House price movements have obviously played a key role in this recession. The rapid rise of house prices led to an incredible boom in homebuilding, and a large increase in household debt. When house prices began to fall in 2007, this put…

Words 3586 - Pages 15

The Federal Reserve System

http://www.federalreserve.gov/faqs/about_12594.htm What is the purpose of the Federal Reserve System? The Federal Reserve System, often referred to as the Federal Reserve or simply "the Fed," is the central bank of the United States. It was created by the Congress to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Federal Reserve was created on December 23, 1913, when President Woodrow Wilson signed the Federal Reserve Act into law. Today, the…

Words 6763 - Pages 28