Age, Biography and Wiki

Greg Mankiw (Nicholas Gregory Mankiw) was born on 3 February, 1958 in Trenton, New Jersey, U.S., is an American economist. Discover Greg Mankiw's Biography, Age, Height, Physical Stats, Dating/Affairs, Family and career updates. Learn How rich is he in this year and how he spends money? Also learn how he earned most of networth at the age of 66 years old?

Popular As Nicholas Gregory Mankiw
Occupation N/A
Age 66 years old
Zodiac Sign Aquarius
Born 3 February, 1958
Birthday 3 February
Birthplace Trenton, New Jersey, U.S.
Nationality United States

We recommend you to check the complete list of Famous People born on 3 February. He is a member of famous economist with the age 66 years old group.

Greg Mankiw Height, Weight & Measurements

At 66 years old, Greg Mankiw height not available right now. We will update Greg Mankiw's Height, weight, Body Measurements, Eye Color, Hair Color, Shoe & Dress size soon as possible.

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Who Is Greg Mankiw's Wife?

His wife is Deb Roloff

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Wife Deb Roloff
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Greg Mankiw Net Worth

His net worth has been growing significantly in 2023-2024. So, how much is Greg Mankiw worth at the age of 66 years old? Greg Mankiw’s income source is mostly from being a successful economist. He is from United States. We have estimated Greg Mankiw's net worth, money, salary, income, and assets.

Net Worth in 2024 $1 Million - $5 Million
Salary in 2024 Under Review
Net Worth in 2023 Pending
Salary in 2023 Under Review
House Not Available
Cars Not Available
Source of Income economist

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Timeline

1945

, the RePEc overall ranking based on academic publications, citations, and related metrics put him as the 45th most influential economist in the world, out of nearly 50,000 registered authors.

1958

Nicholas Gregory Mankiw (born February 3, 1958) is an American macroeconomist who is currently the Robert M. Beren Professor of Economics at Harvard University.

Mankiw is best known in academia for his work on New Keynesian economics.

Mankiw has written widely on economics and economic policy.

1975

In 1975, he studied astrophysics at the Summer Science Program.

1976

He grew up in Cranford, New Jersey, where he worked in Republican politics, and graduated from the Pingry School in 1976.

1980

He graduated from Princeton University summa cum laude in 1980 with a Bachelor of Arts in economics.

Mankiw completed a 72-page long senior thesis titled "Understanding Employment Fluctuation".

At Princeton, Mankiw was classmates with the economist David Romer, who would later become one of his coauthors, and was roommates with the playwright Richard Greenberg.

After college, Mankiw spent a year working on his doctoral degree at the Massachusetts Institute of Technology (MIT) and a subsequent year studying at Harvard Law School.

1982

He worked as a staff economist for the Council of Economic Advisers from 1982 to 1983, which he went on to chair two decades later.

1984

After leaving the council, he earned his PhD in economics from MIT in 1984 under the supervision of Stanley Fischer.

1985

He returned to Harvard Law School for a year, but having completed his PhD and realizing that he was better at economics, he left to teach at MIT for a year, and then became an assistant professor of economics at Harvard University in 1985.

His paper "Small Menu Costs and Large Business Cycles: A Macroeconomic Model of Monopoly", which was published in the Quarterly Journal of Economics in 1985, compared a firm's private incentive to adjust prices because of a shock to nominal aggregate demand to that decision's the social welfare implications.

The paper concluded that expansion in aggregate demand may either increase welfare or reduce it, but the welfare reduction is never greater than the menu cost.

A contraction in aggregate demand, however, reduces welfare, possibly in an amount much larger than the menu cost.

In other words, from a social planner's point of view, prices may be stuck too high but never too low.

The paper was a building block for work by Olivier Blanchard and Nobuhiro Kiyotaki on aggregate-demand externalities and for work by Laurence M. Ball and David Romer on the interaction between real and nominal rigidities.

1987

He was promoted to professor in 1987, at the age of 29.

Mankiw is considered a New Keynesian economist, though at least one financial journalist states that he resists such easy categorisation.

Mankiw did important work on menu costs, which are a source of price stickiness.

2002

In 2002, Mankiw and Ricardo Reis proposed an alternative to the widely-used New Keynesian Phillips curve that is based on the slow diffusion of information among the population of price setters.

Their sticky-information model displays three related properties that are more consistent with accepted views about the effects of monetary policy.

Firstly, disinflations are always contractionary, though announced disinflations are less contractionary than surprise ones.

Secondly, monetary policy shocks have their maximum impact on inflation with a substantial delay.

Thirdly, the change in inflation is positively correlated with the level of economic activity.

2003

From 2003 to 2005, Mankiw was Chairman of the Council of Economic Advisers under President George W. Bush.

A related 2003 article by Mankiw, Reis, and Justin Wolfers analyzed data on inflation expectations and documented substantial disagreement among both consumers and professional economists about expected future inflation.

That disagreement is shown to vary over time and to move with inflation, the absolute value of the change in inflation, and relative price variability.

The paper argues that a satisfactory model of economic dynamics must address those business-cycle moments.

Noting that most macroeconomic models do not endogenously generate disagreement, they show that a sticky-information model broadly matches many of those facts.

The model is also consistent with other observed departures of inflation expectations from full rationality, including autocorrelated forecast errors and insufficient sensitivity to recent macroeconomic news.

Mankiw has also written several papers on the empirical analysis of consumer behavior, often emphasizing the role of heterogeneity.

2006

In 2006, he became an economic adviser to Mitt Romney, and worked with Romney during his presidential campaigns in 2008 and 2012.

2007

In addition, Mankiw is the author of several best-selling textbooks, writes a popular blog, and has since 2007 written approximately monthly for the Sunday business section of The New York Times. According to the Open Syllabus Project, Mankiw is the most frequently cited author on college syllabi for economics courses.

Mankiw is a conservative, and has been an economic adviser to several Republican politicians.

2011

He was the 11th most cited economist and the 9th most productive research economist as measured by the h-index.

2019

In October 2019, he announced that he was no longer a Republican because of his discontent with President Donald Trump and the Republican Party.

Mankiw was born in Trenton, New Jersey.

His grandparents were all Ukrainians.