PERRY G. MEHRLING
pgm10@columbia.edu
pmehrling@mediaone.net
Addresses:
Economics Department
Barnard
3009 Broadway
New York
212-854-4369
Academic Training:
PhD Economics,
Dissertation:
"Studies in the Credit Theory of Money"
MSc Econometrics and
Mathematical Economics, with distinction, London School of Economics, 1983
AB Social Studies, magna
cum laude, Harvard College, 1981
Boston Latin School, valedictorian, 1977
Professional Experience:
Professor,
Department Chair, Economics Department,
Associate Professor (with tenure),
Assistant Professor,
Senior Research Fellow, Center for Industrial
Competitiveness, University of Massachusetts-Lowell,
1994-95
Summer Research Assistant, Board of Governors of the
Federal Reserve System,
Academic and Professional Honors:
Dissertation Research Fellow, Brookings Institution,
Washington DC, 1986-87
Allyn Young Teaching Prize, 1986
Young Scientist, Institute for Applied Systems
Analysis,
Harry G. Johnson Studentship, 1981-83
Knox Memorial Fellowship, 1981-82
Phi Beta Kappa
Harvard National Scholar, 1977-1981
National Merit Scholar
Current Membership in Professional Societies:
American Economics Association
Eastern Economics Association
History of Economics Society
European Society for the History of Economic Thought
Courses Taught: (date)
Lecture
Courses
Monetary Theory and Policy [Graduate] (S99; S00;
S01)
Financial Markets (F89; F91; S94; S96; S97)
Economics of Money and Banking (F96; F98; F00)
Introduction to Economics (Macro) (F87; S88; F88; F88; S92; F93; F95)
Intermediate Macroeconomic Theory(S89; S90; S92;
S93; S94; F95)
Theoretical Foundations of Political Economy(S88;
S89; S90; F91; F96)
Seminars
Topics in Economic Theory
"Monetary Theory" (F87)
"Money, Banking, and Finance" (F93)
"Money and Banking in Historical
Perspective" (S96)
Senior Seminar
"Financing Democracy: The Crisis in Social Security, Health and
Education Finance" (S99)
First Year Seminar
"The Legacy of Liberalism" (F89)
Tutorials
Senior Essay Supervision
(87-88; 88-89; 89-90; 91-92; 92-93; 93-94; 95-96;
96-97; 98-99; 99-00; 00-01)
Examiner
of Doctoral Candidates
Andres Velasco, PhD Economics,
"Deficits, Interest Rates and Credibility: Essays
in Open Economy Macroeconomics"
Song Li, PhD Business,
"On the Term Structure of Interest Rates"
Marcel Cassard, PhD Economics,
"The Choice of an Exchange Rate Regime under
Wage Stickiness"
Duan Wang, PhD Economics,
"Three Essays in Irreversible Investment"
Terence Christopher Canavan, PhD Economics,
"Essays on Inflation and Exchange Rates"
Gwanghoon Lee, PhD Economics,
"Three Essays on Growth and Trade"
Carlotta Berti Ceroni, PhD Economics,
"Distribution, Redistribution and Growth"
Xin Zhang, PhD Business,
"Essays in Financial Stability"
Jimmy Kyung-Soo Liew, PhD Business,
"Essays in Investment Strategies"
Douglas Smith, PhD Economics,
"Essays on Macroeconomics and the Distribution
of Income"
Sally Davidson, PhD Economics,
"Speculation, Inflation and Stabilization: Issues in
Salimullah Khan, PhD Economics, New School
University 2000
"Theories of Central Banking in
Rodney Ramcharan, PhD Economics, Columbia University
2000
"Understanding the Roles of Education in
Economic Development"
Brian Cunningham, PhD Economics, Columbia University
2000
"Essays in Macroeconomics"
Alessandra Baldi, PhD Economics, Columbia University
2000
"Asymmetric Discounting across Asset Markets
and Magnified Asset Depreciation from Liquidity Costs in a Neoclassical Model
of Saving and Portfolio Choice"
Marcelo Salomon, PhD Economics, Columbia University
2001
"Essays on Regime Switching, Inflation and
Fiscal Policy in
Publications:
Books
The Price of Risk:
Fischer Black and the Revolution in Modern Finance (in process). Book proposal, six draft chapters.
Money and Growth:
Selected Essays of Allyn Young (with Roger Sandilands).
The Money Interest and the Public Interest: American Monetary Thought,
1920-1970. Harvard Economic
Studies #162.
Reviewed in: Economic
Journal, European Journal of Political Economy, Eastern Economic
Journal, Journal of Economic Studies,
Debt, Crisis, and Recovery: The 1930s and the 1990s (with Albert G.
Hart).
Journal
Articles
"Economists and
the Fed: Beginnings." Invited submission, under review, Journal
of Economic Perspectives.
"Don Patinkin and the Origins of Postwar Monetary
Orthodoxy." Invited
submission, under review, European Journal of the History of Economic
Thought.
"Interview
with Paul Volcker." Macroeconomic
Dynamics 5 No. 3 (June 2001):
434-460.
"The
State as Financial Intermediary." Journal
of Economic Issues 34 No. 2 (June 2000):
365-68.
"Modern money:
fiat or credit?" Journal of
Post Keynesian Economics 22 No. 3 (Spring 2000): 397-406.
"Minsky and Modern Finance:
The Case of Long Term Capital Management." Journal of Portfolio Management 26 No.
2 (Winter 2000): 81-88.
"The
Vision of Hyman P. Minsky." Journal
of Economic Behavior and Organization 39 No. 2 (June 1999): 129-158.
"Idiosyncratic
Risk, Borrowing Constraints and Asset Prices." Metroeconomica 49 No. 3 (October
1998): 261-283.
"The
Monetary Thought of Allyn Abbott Young." History of Political Economy 28 No. 4
(Winter 1996): 607-632.
"A
Note on the Optimum Quantity of Money." Journal of Mathematical Economics 24
(1995): 249-58.
"A Classical
Model of the Class Struggle: A
Game-Theoretic Approach." Journal
of Political Economy 94 No. 6 (December 1987): 1280-1303.
Chapters
in Books
"Functional
Finance, Past and Present." Forthcoming in Functional Finance, Retrospect and Prospect,
edited by Edward Nell.
"Mr. Goodhart and
the EMU." Forthcoming
in Two Concepts of Money, edited by Edward Nell and Stephanie Bell.
"Love and Death: The Wealth of Irving Fisher." Pages 47-61
in Research in the History of Economic Thought and Methodology,
edited by Warren J. Samuels and Jeff E. Biddle.
"Minsky, modern
finance and the case of Long Term Capital Management." Pages 147-158 in Financial
Keynesianism and Market Instability, The Economic Legacy of Hyman Minsky,
Vol. I, edited by Riccardo Bellofiore and Piero Ferri.
"How Did Schumpeter Do It?" Pages 231-39
in Research in the History of Economic Thought and Methodology, edited
by Warren Samuels and Jeff Biddle.
"The Money Muddle: The Transformation of American Monetary Thought, 1920-1970."
Pages 293-306 in From Interwar Pluralism to Postwar Neoclassicism,
edited by Mary S. Morgan and Malcolm Rutherford. History of Political
Economy 30.
"The Evolution of Macroeconomics: The origins of post Walrasian
macroeconomics." Pages 71-86 in Beyond
Microfoundations: Post Walrasian
Macroeconomics, edited by David Colander.
"The Relevance to
Modern Economics of the
Encyclopedia
Entries
"Hansen, Alvin Harvey." In American National Biography, edited
by John A. Garraty and Mark Carnes.
"Goodwin, Richard Murphey (1913- )." In Business Cycles and Depressions; An
Encyclopedia, edited by David Glasner.
"Duesenberry, James Stemble (1918-
)." In Business Cycles and
Depressions; An Encyclopedia, edited by David Glasner.
"Banking and Finance." In Dictionary of American History,
Supplement.
Book
Reviews
Review of Money and Banking: Theory and Debate (1900-1940), by
Riccardo Realfonzo. Economic Journal
110 No. 464 (June 2000): F521-23.
Review of The Evolving Rationality of Rational
Expectations: An Assessment of Thomas Sargent's Achievements, by
Esther-Mirjam Sent. Journal of the
History of Economic Thought 22 No. 1 (March 2000): 106-108.
Review of The
Struggle over the Soul of Economics; Institutionalist and Neoclassical
Economists in
Review of The
Origins of American Public Finance; Debates over Money, Debt, and Taxes in the
Constitutional Era, 1776-1836, by Donald R. Stabile. History of Political Economy 32 No. 1
(Spring 2000): 171-2.
Review of Plenty of Nothing; The
Downsizing of the American Dream and the Case for Structural Keynesianism,
by Thomas I. Palley. Eastern Economic
Journal 26 No. 1 (Winter 2000):
109-111.
Review of Monetary Standards and Exchange Rates,
edited by Maria Cristina Marcuzzo,
Review of The
Macroeconomics of Saving, Finance, and Investment, edited by Robert
Pollin. Journal of Economic
Literature 37 No. 1 (March 1999): 194-96.
Review of Rapid
Growth and Relative Decline; Modeling Macroeconomic Dynamics with Hysteresis,
by Mark Setterfield. Journal of Economic Literature 36 No. 2 (June 1998):
954-955.
Review of The Coming of Keynesianism to America,
edited by David Colander and Harry Landreth.
Economic Journal 108 (May 1998):
920-921.
Review of Keynes's
Principle of Effective Demand, by Edward Amadeo. Journal of Economic Literature 29
(March 1991): 83-4.
Other Work
"Rational
Exuberance: Economics of a 'New Era'
Bubble" (with Giulio Pontecorvo). Mimeo, 15
pp., (May 2001).
"Understanding
Fischer Black." Mimeo, 37 pp., (August
2000).
"What is Monetary Economics About?" Mimeo, 16 pp. + figures, (January 2000).
"The Distribution of Corporate Liquidity: Trends and Fluctuations, 1954-91." Mimeo, 11 pp. + tables and charts, (March
1995). Supersedes WP #94-03, Barnard
Economics.
"Allyn Young and the
"Mr. Bewley vs. The Optimum Quantity of
Money: A Review." WP #93-08, Barnard Economics, 28 pp.,
(January 1993).
"Stochastic
Equilibrium in a Finite Economy." Mimeo, 28
pp., (May 1991).
Reports
"Comprehensive Self Study: [Barnard] Economics Department." Mimeo,
21 pp. + charts, tables, appendices, (December 2, 1999).
"Spending
Policies for Foundations: The Case for
Increased Grants Payout." 13 pp. National
Network of Grantmakers, 1999.
"The Social Mutual Fund: A Proposal for Social Security
Reform." Mimeo, 14 pp., (March 26,
1998).
"The Future of Social Security: The Social Mutual Fund." Mimeo, 19 pp. + charts and tables, (May
1997).
Presentations:
"What Was Monetary Walrasianism?" Patinkin 2001 Conference,
"From Fisher to Black: A Century of American
Finance." History of Economics
Society,
"Understanding
Fischer Black."
"Understanding
Fischer Black." Austrian Economics
Colloquium,
"The Wealth of
Irving Fisher." European Society for the
History of Economic Thought,
"Spending
Policies for Foundations." Endowments
and Foundations
"The State as
Financial Intermediary." Association
for Evolutionary Economics,
"Arbitrage and
Money." Symposium
on High Performance Investing,
"Fischer Black:
Intellectual Formation."
History of Economics Society,
"Fischer Black
and the
"Instability and
the Distribution of Corporate Debt." Levy
Institute,
"Against Privatization: Social Security as a Social Mutual
Fund."
"Minsky and Modern Finance."
"Money in a
Theory of Finance."