Profile Major Works Resources

Robert E. Hall, 1943-  

Neoclassical macroeconomist at Stanford.

Robert E. Hall received his B.A. from Berkeley and his Ph.D. from M.I.T.  He has been professor at Stanford University since 1978.

Hall has made numerous contributions to macroeconomics.  His most famous contribution is probably his "random walk" in consumption (1978).  Contrary to older consumption theories, Hall posited that consumption is independent of past income patterns and should exhibit a martingale property, that is, that changes in consumption are unpredictable and only respond to unexpected changes in future income.

 

  

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Major Works of Robert E. Hall

  • "Tax Policy and Investment Behavior" with D.W. Jorgensen, 1967, AER [reh]
  • "Consumption Taxes versus Income Taxes: Implications for economic growth", 1968, Proceedings of 61st Tax Conference [reh]
  • "The Dynamic Effects of Fiscal Policy in an Economy with Foresight", 1971, RES [reh]
  • "The Phillips Curve and Macroeconomic Policy", 1976, CROCH [reh]
  • "Investment, Interest Rates and the Effects of Stabilization Policies", 1977, BPEA [reh]
  • "Stochastic Implications of the Life Cycle-Permanent Income Hypothesis: Theory and evidence", 1978, JPE [reh]
  • "Efficient Wage Bargains Under Uncertain Supply and Demand", with D. Lilien, 1979, AER [reh]
  • "Employment Fluctuations and Wage Rigidity", 1980, Brookings PEA [reh]
  • "Labor Supply and Aggregate Fluctuations", 1980, CROCH [reh]
  • "The Sensitivity of Consumption to Transitory Income: Estimates from panel data on households", with F.S. Mishkin, 1982, Econometrica [reh]
  • "Monetary Trends in the United States and the United Kingdom: A review from the perspective of new developments in monetary economics", 1982, JEL [reh]
  • "Is Unemployment a Macroeconomic Problem?", 1982, AER [reh]
  • "Explorations in the Gold Standard and Related Policies for Stabilizing the Dollar", 1982, in R.E. Hall, editor, Inflation: Causes and effects  [reh]
  • "Monetary Policy with an Elastic Price Standard", 1984, in Price Stability and Public Policy [reh]
  • "The Role of Consumption in Economic Fluctuations", 1986, in Gordon, editor, American Business Cycle [reh]
  • "Market Structure and Macroeconomic Fluctuations", 1986, BPEA [reh]
  • "The Relationship between Price and Marginal Cost in US Industry", 1988, JPE [reh]
  • "Intertemporal Substitution in Consumption", 1988, JPE [reh]
  • "Consumption", 1989, in Barro, editor, Modern Business Cycle Theory. [reh]
  • "Survey of Research on the Random Walk of Consumption", 1989
  • The Rational Consumer: Theory and evidence, 1990.
  • "Irving Fisher's Self-Stabilizing Money", 1997, AER [reh]

 
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Resources on Robert E. Hall

 

 
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