Kenneth L. Judd

Paul H. Bauer Senior Fellow
Research Team: 

Kenneth L. Judd, the Paul H. Bauer Senior Fellow at the Hoover Institution, is an expert in the economics of taxation, imperfect competition, and mathematical economics.

His current research focuses on developing computational methods for economic modeling and applying them to tax policy, antitrust issues, macroeconomics, and policies related to climate change. He currently is a co–principal investigator at the Center for Robust Decision Making on Climate and Energy Policy, the director of the Initiative for Computational Economics at the University of Chicago, and a member of the National Academies Board on Mathematical Sciences and Applications.

He was coeditor of the RAND Journal of Economics (1988–95) and the Journal of Economic Dynamics and Control (2002–6). He was an associate editor of the Journal of Public Economics (1988–97).

His work has also been published in the Journal of Economic Dynamics and Control, Journal of Public Economics, Journal of Political Economy, RAND Journal, Journal of Finance, Journal of Economic Theory, Brookings Papers of Economic Activity, American Economic Review, and Econometrica.

His book Numerical Methods in Economics was published by MIT Press in 1998.

Judd has also contributed to collected volumes including the chapter "The Impact of Tax Reform in Modern Dynamic Economies" in Transition Costs of Fundamental Tax Reform (Washington, DC: AEI Press, 2001).

He is a fellow of the Econometric Society and served as a member of the Economics Panel of the National Science Foundation (1986–88).

Before joining the Hoover Institution as a senior fellow in 1988, Judd was a visiting professor of business economics at the University of Chicago. From 1986 to 1987 he was a national fellow at the Hoover Institution.

Judd was a postdoctoral teaching fellow at the University of Chicago, Department of Economics, 1980–81. From 1981 to 1983, he was an assistant professor of managerial economics at the Kellogg Graduate School of Management, Northwestern University, and from 1984 to 1986 he was an associate professor at Kellogg.

He graduated Phi Beta Kappa from the University of Wisconsin (1975) with undergraduate degrees in mathematics and computer sciences. Judd received an MA in mathematics in 1977, an MA in economics in 1980, and a PhD in economics in 1981, all from the University of Wisconsin.

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Recent Commentary

Analysis and Commentary

Congress Investigates DSGE Models: One Witness Says Big Problem Is The Lack Of Brain Power

by Kenneth L. Juddvia Show Me the Math
Friday, May 13, 2022

You may have guessed that I enjoy poking the ruling elite in economics.

Analysis and Commentary

Why Can’t The Fed Be As Good As The Bank Of Canada?

by Kenneth L. Juddvia Show Me the Math
Thursday, May 12, 2022

I am at John Taylor’s annual macroeconomic conference on monetary policy. The first panel included comments from Richard Clarida and Larry Summers. Time for questions ran out so I put mine here.

Vladimir Putin
Analysis and Commentary

Is Putin Crazy? Maybe, But He Is Certainly Surprised

by Kenneth L. Juddvia Show Me the Math
Monday, March 7, 2022

In the past two weeks, I have heard people argue that Putin has lost his mind, that his Covid isolation has warped his mind and that perhaps he is dying and wants to leave with a bang. While these conjectures may be true, I prefer to first analyze this from a “rational actor” point of view. This is natural for me for two reasons: I am an economist and I was a colleague of Bruce Bueno de Mesquita for many years. 

In the News

Vaccines For Developing Countries: The Costs And Benefits Of Waiving Patents

quoting Kenneth L. Juddvia LSE Business Review
Thursday, May 20, 2021

There is much debate about whether the patents on COVID-19 vaccines should be waived to allow low-income countries to produce doses for themselves. The Initiative on Global Markets Forum’s survey asked European and US experts to express their views on this issue and the broader challenges of vaccinating the world. Romesh Vaitilingam sums up the results of the survey.


Why The U.S. Government Needs A New Corporate Bailout Structure—One That Doesn’t Rely On Loans

by Kenneth L. Judd, Karl Schmeddersvia Fortune
Thursday, April 16, 2020

The good news from Washington is that despite partisan divides, Congress and President Donald Trump moved swiftly to enact the CARES Act in response to the COVID-19 crisis.

In the News

Should Governments Offer Subsidies To Attract Businesses?

quoting Caroline M. Hoxby, Kenneth L. Juddvia Chicago Booth Review
Thursday, February 28, 2019

When Amazon announced in 2017 that it was shopping for a location for a second North American headquarters, cities across the United States, Mexico, and Canada, offered up sweeteners. An economic development company sent the online retailer a 21-foot saguaro cactus to try to entice Amazon to Tucson, Arizona. Hundreds of other cities offered tax breaks, infrastructure improvements, and other temptations.

In the News

What’s The Best Policy For Combating Climate Change?

quoting Kenneth L. Juddvia Chicago Booth Review
Tuesday, February 12, 2019

One of the difficulties of mitigating climate change is that when people or companies send carbon dioxide into the atmosphere—thereby contributing to a process that is raising global temperatures—they don’t pay the full environmental cost of that action.

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The Economy According to Taylor and Judd

by Peter M. Robinsonwith Kenneth L. Judd, John B. Taylorvia Uncommon Knowledge
Monday, February 11, 2008

Are we, in fact, in a recession? If not, is one still headed our way? Economists John Taylor and Ken Judd discuss not only the state of the current economic slowdown, but how the definition of recession is evolving. (30:58) Video transcript

Analysis and Commentary

Repeal the Bush Tax Increase

by Kenneth L. Juddvia Hoover Daily Report
Wednesday, August 31, 2005

President Bush has appointed a commission to study tax reform and said that he wants to make his tax cuts permanent. However, no major tax reform will occur soon.