Lee Ohanian

Senior Fellow
Biography: 

Lee E. Ohanian is a senior fellow at the Hoover Institution and a professor of economics and director of the Ettinger Family Program in Macroeconomic Research at the University of California, Los Angeles (UCLA).

He is associate director of the Center for the Advanced Study in Economic Efficiency at Arizona State University and a research associate at the National Bureau of Economic Research, where he codirects the research initiative Macroeconomics across Time and Space. He is also a fellow in the Society for the Advancement of Economic Theory.

His research focuses on economic crises, economic growth, and the impact of public policy on the economy. Ohanian is coeditor of Government Policies and Delayed Economic Recovery (Hoover Institution Press, 2012). He is an adviser to the Federal Reserve Banks of Minneapolis and St. Louis, has previously advised other Federal Reserve banks, foreign central banks, and the National Science Foundation, and has testified to national and state legislative committees on economic policy. He is on the editorial boards of Econometrica and Macroeconomic Dynamics. He is a frequent media commentator and writes for the Wall Street Journal, Forbes, and Investor’s Business Daily. He has won numerous teaching awards at UCLA and the University of Rochester.

He previously served on the faculties of the Universities of Minnesota and Pennsylvania and as vice president at Security Pacific Bank. He received his undergraduate degree in economics from the University of California, Santa Barbara, and his PhD in economics from the University of Rochester.

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Recent Commentary

Ohanian: Green New Deal Is Unrealistic, Socialistic

interview with Lee Ohanianvia Hoover Daily Report
Friday, February 15, 2019

Senior Fellow Lee Ohanian of the Hoover Institution says the Green New Deal cannot be paid for and represents a huge step toward a socialistic, command-driven economy in the United States that would reduce freedom for all individuals.

Interviews

Lee Ohanian: Climate Change, The Green New Deal And ‘Socialism’

interview with Lee Ohanianvia KCRW
Thursday, February 14, 2019

Hoover Institution fellow Lee Ohanian discusses the Green New Deal, which includes universal health care, a national minimum wage, increased business taxes, etc.

In the News

How The US Actually Financed The Second World War

quoting Lee Ohanianvia Financial Times Alphaville
Wednesday, February 13, 2019

[Subscription Required] In March of 1951, a year into the Korean War, the US Treasury offered long-term notes at 2 3/4 per cent in exchange for short-term notes at 2 1/2 per cent. According to a narrative written half a century later by the Richmond Fed, the Federal Reserve supported the price of the long-term notes, but: only up to a limited volume it had agreed on with the Treasury.

BusinessFeatured

California’s “Big Brother” Labor Regulations Will Harm Those Whom It Intends To Help

by Lee Ohanianvia California on Your Mind
Tuesday, February 12, 2019

According to employment law attorneys, California has the strictest regulations regarding women’s earnings and employment in the country. Unfortunately, recently enacted and proposed legislation that is intended to advance women’s earnings and opportunities have significant, unintended negative effects that will indirectly hurt women, particularly those from minority groups or with fewer skills. Men will also be affected negatively, as extreme and expensive regulations will drive even more businesses from the state and reduce opportunities for all workers.

HousingAnalysis and Commentary

California’s Governor Should Declare War On Regulations —Not Cities—For State’s Housing Crisis

by Lee Ohanianvia California on Your Mind
Tuesday, February 5, 2019

Last month, newly elected California governor Gavin Newsom advised the state attorney general to file a lawsuit against the city of Huntington Beach, a California community that is about 35 miles south of Los Angeles and home to about 200,000 residents. Huntington Beach was once a sleepy beach community made famous in the 1960s by the Beach Boys for its remarkable surfing locations, but the city is now being sued by Newsom for not building enough housing. 

Featured

How To Improve California’s Education, Housing Affordability

by Lee Ohanian, John B. Taylor mentioning Eric Hanushek, Hoover Institutionvia San Francisco Chronicle
Monday, February 4, 2019

Gov. Gavin Newsom’s first budget comes when California is the most challenging state in the country for low- and middle-income households: California has the highest poverty rate of any of the 50 states. California also ranks 49th in both housing affordability and cost of living. It ranks 50th in homelessness, 40th in the overall tax burden and 42nd in how well it is educating its kindergarten through high school-age young people.

EconomyFeatured

Presidential Candidate Kamala Harris’s Minimum Wage And Education Policies Will Reduce Economic Opportunities

by Lee Ohanianvia California on Your Mind
Tuesday, January 29, 2019

US senator Kamala Harris, who announced her candidacy for president last week, immediately moves to the top of the Democratic party’s list for the 2020 election.

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Better Pay for Better Teachers

by Lee Ohanianvia Hoover Digest
Friday, January 25, 2019

Who really stands in the way of higher pay for teachers? Teachers’ unions.

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It’s Real Growth— Not a Sugar High

by Edward Prescott, Lee Ohanianvia Hoover Digest
Friday, January 25, 2019

The economic gains of recent years are real, and smart policies deserve the credit. What would help even more? Slashing the barriers to trade.

EnvironmentFeatured

A Market For Water Would Solve Many Of California’s Water Woes

by Lee Ohanianvia California on Your Mind
Tuesday, January 22, 2019

Last week’s column described how California has not provided reliable and reasonably priced water supplies to Californians. It also described how failure to maintain existing water infrastructure and invest in new water infrastructure has played an important role in California’s chronic water shortages. 

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