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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Recent Commentary

Analysis and Commentary

No Tapering Soon if the Fed Looks at Labor

by Edward Paul Lazearvia Wall Street Journal
Monday, September 30, 2013

The Federal Reserve's Sept. 18 decision to stay the course on its asset purchases surprised and confused many market participants, who felt the central bank had sent contradictory signals about its intentions.

Analysis and Commentary

High Unemployment Makes Productivity A Job Destroyer

by Edward Paul Lazearvia Investor's Business Daily
Thursday, September 19, 2013

New research shows, workers have suffered because high unemployment has turned productivity increases into a substitute for job growth rather than a complement to it.

Analysis and Commentary

Bush Ended Financial Crisis Before Obama Took Office -- Three Important Truths About 2008

by Edward Paul Lazear, Keith Hennesseyvia FoxNews.com
Monday, September 16, 2013

It was President Bush’s task to stop the financial panic that was occurring in the autumn of 2008. He and his administration succeeded.

Analysis and Commentary

Who Really Fixed The Financial Crisis?

by Edward Paul Lazear, Keith Hennesseyvia Politico
Sunday, September 15, 2013

This weekend marks the fifth anniversary of the collapse of Lehman Brothers, providing an opportunity to recount the history of the financial crisis, look back at what really caused it, and consider policy ramifications that remain relevant today. Even five years later, a host of misconceptions about the crisis — ranging from why it began to...

Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover I

Lazear discusses Observations on the Financial Crisis on the Santelli Exchange on CNBC

by Edward Paul Lazearvia CNBC
Thursday, September 12, 2013

Hoover senior fellow Edward P. Lazear discusses his recent book Observations on the Financial Crisis on CNBC. Topics in the interview include distinguishing between the crisis and the recession, contagion versus systemic failure in the financial industry, and the formulation and evaluation of President Bush’s response.

Observations on the Financial Crisis by Keith Hennessey and Edward Lazear

The financial crisis: five years later

by Keith Hennessey, Edward Paul Lazearvia Hoover Podcasts
Tuesday, September 10, 2013

Former George W. Bush economic advisers Keith Hennessey and Edward Lazear look back on the lessons of the 2008 financial crisis, presenting their thoughts, developed through discussions with colleagues and students, as well as correcting common misperceptions. Topics include the preceding financial panic, deregulation, the Troubled Asset Relief Program, the auto bailout, and the stimulus.

Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover I

Lazear reflects on financial crisis

by Edward Paul Lazearvia Kudlow Report (CNBC)
Thursday, September 5, 2013

Edward Paul Lazear, a senior fellow at the Hoover Institution, discusses the economy on CNBC’s Kudlow Report (0:46). Topics include recent job reports and forecasts, economic growth trajectories, and rising long-term interest rates.

Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover I

Lazear discusses GDP as an indicator of the future on CNBC’s Squawk on the Street

by Edward Paul Lazearvia CNBC - Squawk on the Street
Wednesday, August 7, 2013

Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insights into the GDP and why the market is a better indicator of the future than the GDP. Lazear notes that the market is not a perfect indicator but is the best unbiased predictor of the future.

Analysis and Commentary

The Stock Market Beats GDP as an Economic Bellwether

by Edward Paul Lazearvia Wall Street Journal
Wednesday, July 31, 2013

On Wednesday, the Bureau of Economic Analysis releases its estimates of U.S. gross domestic product for the second quarter of the year. The BEA bureau cautions that its numbers are estimates and are subject to significant revision.


Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover I

Lazear discusses the Senate’s immigration bill on Bloomberg TV

by Edward Paul Lazearvia Bloomberg Television
Thursday, July 18, 2013

Edward Lazear, the Morris Arnold and Nona Jean Cox Senior Fellow at the Hoover Institution and former chairman of the President's Council of Economic Advisers, offers insights into the Immigration bill before Congress, notes that it is a step in the right direction but needs strengthening in the area of the merit-based immigration.

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