Ben Bernanke's Childhood Education
Childhood
According to wikipedia.com Ben Bernanke was born in Augusta, Georgia, and then raised in Dillon, South Carolina. His father was a pharmacist and part-time theater manager, and his mother was an elementary schoolteacher. He has two younger siblings. The Bernankes were the one of the few Jewish families in the area. As a child, Bernanke learned Hebrew from his maternal grandfather Harold Friedman, who was a Hebrew teacher. His grandfather Jonas was born in Boryslav, Austria–Hungary (today part of Ukraine), and immigrated to the United States from Przemyśl, Poland. He arrived at Ellis Island in 1921, with his wife Pauline. They moved to Dillon, South Carolina, from New York in the 1940s were they opened a drugstore, which …show more content…
V. Martin Junior High, and Dillon High School. Bernanke got his undergraduate degree in economics summa cum laude in 1975 from Harvard University. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1979.
Career
From 1979 to 1985 Ben Bernanke taught at the Stanford Graduate School of Business, but also was a visiting professor at New York University and at Princeton University in the Department of Economics. He chaired that department from 1996 until September 2002, when he went on public service leave. He resigned his position at Princeton in 2005.
Dr. Bernanke served as a member of the Board of Governors of the Federal Reserve System (2002 to 2005), and was Chairman of the President's Council of Economic Advisers (June 2005 to January 2006). He also was a visiting scholar at the Federal Reserve Banks of Philadelphia (1987-89), Boston (1989-90), and New York (1990-91, 1994-96); and a member of the Academic Advisory Panel at the Federal Reserve Bank of New York …show more content…
He was the Director of the Monetary Economics Program of the National Bureau of Economic Research and the editor of the American Economic Review. He is among the 50 most published economists in the world according to IDEAS/RePEc.
Bernanke is particularly interested in the economic and political causes of the Great Depression, on which wrote several publications. Bernanke focused less on the role of the Federal Reserve, and more on the role of private banks and financial institutions. Bernanke found that the financial disruptions of 1930-33 reduced the efficiency of the credit allocation process; and that the resulting higher cost and reduced availability of credit acted to depress aggregate demand, identifying an effect he called the financial accelerator. When faced with a mild downturn, banks are likely to significantly cut back lending and other risky ventures. This further hurts the economy, creating a vicious cycle and potentially turning a mild recession into a major
According to wikipedia.com Ben Bernanke was born in Augusta, Georgia, and then raised in Dillon, South Carolina. His father was a pharmacist and part-time theater manager, and his mother was an elementary schoolteacher. He has two younger siblings. The Bernankes were the one of the few Jewish families in the area. As a child, Bernanke learned Hebrew from his maternal grandfather Harold Friedman, who was a Hebrew teacher. His grandfather Jonas was born in Boryslav, Austria–Hungary (today part of Ukraine), and immigrated to the United States from Przemyśl, Poland. He arrived at Ellis Island in 1921, with his wife Pauline. They moved to Dillon, South Carolina, from New York in the 1940s were they opened a drugstore, which …show more content…
V. Martin Junior High, and Dillon High School. Bernanke got his undergraduate degree in economics summa cum laude in 1975 from Harvard University. He received his Ph.D. in economics from the Massachusetts Institute of Technology in 1979.
Career
From 1979 to 1985 Ben Bernanke taught at the Stanford Graduate School of Business, but also was a visiting professor at New York University and at Princeton University in the Department of Economics. He chaired that department from 1996 until September 2002, when he went on public service leave. He resigned his position at Princeton in 2005.
Dr. Bernanke served as a member of the Board of Governors of the Federal Reserve System (2002 to 2005), and was Chairman of the President's Council of Economic Advisers (June 2005 to January 2006). He also was a visiting scholar at the Federal Reserve Banks of Philadelphia (1987-89), Boston (1989-90), and New York (1990-91, 1994-96); and a member of the Academic Advisory Panel at the Federal Reserve Bank of New York …show more content…
He was the Director of the Monetary Economics Program of the National Bureau of Economic Research and the editor of the American Economic Review. He is among the 50 most published economists in the world according to IDEAS/RePEc.
Bernanke is particularly interested in the economic and political causes of the Great Depression, on which wrote several publications. Bernanke focused less on the role of the Federal Reserve, and more on the role of private banks and financial institutions. Bernanke found that the financial disruptions of 1930-33 reduced the efficiency of the credit allocation process; and that the resulting higher cost and reduced availability of credit acted to depress aggregate demand, identifying an effect he called the financial accelerator. When faced with a mild downturn, banks are likely to significantly cut back lending and other risky ventures. This further hurts the economy, creating a vicious cycle and potentially turning a mild recession into a major