Edward Paul Lazear

Morris Arnold and Nona Jean Cox Senior Fellow
Research Team: 
Awards and Honors:
American Academy of Arts and Sciences
Econometric Society (elected fellow)
American Association for the Advancement of Sciences
Society of Labor Economists
Biography: 

Edward P. Lazear is the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and the Davies Family Professor of Economics at Stanford University's Graduate School of Business. Lazear served at the White House from 2006 to 2009, where he was chairman of the President's Council of Economic Advisers. Before coming to Stanford, he taught at the University of Chicago.

Lazear has received numerous honors and prizes: among them, the 1998 Leo Melamed Biennial Prize for the best research by a business school professor, the 2004 Prize for Outstanding Contributions to Labor Economics from the Institute for the Study of Labor, and the 2006 Jacob Mincer Prize for lifetime achievement in the field of labor economics. He holds four honorary degrees, the most recent from the Copenhagen Business School (2013).

Founding editor of the Journal of Labor Economics and founder of the Society of Labor Economists, he is also an elected fellow of the American Academy of Arts and Sciences, the American Association for the Advancement of Science, the Econometric Society, and the Society of Labor Economists. He is a research associate of the National Bureau of Economic Research and was a member of the National Academy of Sciences Board on Testing and Assessment. Lazear was the first vice-president and then president of the Society of Labor Economists.

Lazear has written or edited a dozen books including Personnel Economics (MIT Press, 1995), which expands on his 1993 Wicksell Lectures. He has published more than one hundred papers in leading professional journals.

He received the Distinguished Teaching Award from Stanford University's Graduate School of Business in 1994 and the Distinguished Service Award from Stanford University in 2002.

Lazear holds AB and AM degrees from the University of California, Los Angeles, and a PhD from Harvard University.

Lazear's vitae and papers can be accessed through his personal webpage at http://faculty-gsb.stanford.edu/lazear/.

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Blank Section (Placeholder)PoliticsFeatured

Water Policy Reform: Economic Policy Challenges Facing California’s Next Governor

by Edward Paul Lazearvia Hoover Institution
Monday, October 29, 2018

California is a drought-prone state. Since 1960, the population of California has more than doubled. This suggests that the problem is that population growth in the state has made it difficult to supply enough water to accommodate the larger population. Although true to some extent, this is a minor cause of our water difficulties.

Featured

America’s Economy Isn’t Overheating

by Edward Paul Lazearvia The Wall Street Journal
Tuesday, October 9, 2018

[Subscription Required] The U.S. unemployment rate declined to 3.7%, a rate unseen in almost half a century, the Bureau of Labor Statistics reported Friday. Given the booming labor market, the Federal Reserve has reason to worry that the economy may be overheating.

Featured

Keep Your Tariffs Off My Harley

by Edward Paul Lazearvia The Wall Street Journal
Monday, August 27, 2018
The problem is the tariffs, not Harley-Davidson’s response.
Featured

Send Us Your Young, Your Educated

by Edward Paul Lazearvia The Wall Street Journal
Tuesday, July 31, 2018

[Subscription Required] The U.S. is in the enviable position of having an excess supply of potential immigrants. Only about 1 in 5 who apply for green cards in any year are awarded resident status. This means that America can, to a large extent, choose which immigrants it wants. Whom should it choose?

Click here to see What's Behind the Numbers?.

Examining America's Exceptional EconomyFeatured

America’s Exceptional Labor Force

by Edward Paul Lazearvia PolicyEd
Friday, July 13, 2018

America’s economy benefits from its mobile society and dynamic labor force. American rates of mobility are much higher than in other developed countries. And immigrants in America come to work. In fact, workforce participation by immigrants is higher than that of native-born Americans.

Examining America's Exceptional EconomyFeatured

Sustaining America’s Exceptional Economy

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

There are many reasons to be optimistic about America’s future. Our nation’s success has propelled us into global prominence, but to remain successful we need to maintain our exceptional economic position. If we lose it, we will be losing more than the right to claim that we are the land of opportunity.

Examining America's Exceptional EconomyFeatured

America’s Exceptional Work Ethic

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

American workers have always been industrious, leading to long-term growth and prosperity. The American spirit is one of self-reliance and individual drive to improve our financial situation, and it hasn’t wavered much even after centuries of increasing our standard of living. Long-term investments in education and a willingness to move for economic opportunities helped America succeed.

Examining America's Exceptional EconomyFeatured

Examining America's Exceptional Economy

by Edward Paul Lazearvia PolicyEd
Monday, July 9, 2018

America’s history is marked by exceptional economic development and growth. Compared to other countries, the labor market has always been dynamic and robust. Moreover, America’s long history of immigration and assimilation has helped it grow for over two centuries

Featured

Government Spending Discourages Work

by Edward Paul Lazearvia Wall Street Journal
Monday, February 26, 2018

The French and Italians pay higher taxes and put in 30% fewer hours per person than Americans. Statistical backup is available here.

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The Incredible Shrinking Workforce

by Edward Paul Lazearvia Wall Street Journal
Thursday, December 7, 2017

[Subscription Required]  When the latest jobs report comes out Friday, look beyond the top-line number. For months now economists have suggested that the low unemployment rate—4.1% as of last month’s report—implies that America is at or near full employment. Yet the labor market is still below its pre-recession peak, with about two million jobs missing. Many of those workers have joined the disability rolls. Others have simply dropped out of the workforce in favor of leisure time.

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