Word: solow
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Dates: during 1990-1999
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Harvard alumni on the team include Fisher, James Tobin '39, now at Yale, and Robert M. Solow...
...arguments still apply today," says James Tobin, a Yale Nobel laureate and a prominent member of the group. "Fifty billion dollars is 1% of gross domestic product," Tobin adds, noting that it would not be an excessive stimulus. "One could argue that $50 billion is not enough." But Robert Solow, an M.I.T. Nobel laureate who also backed the plan, provides a note of caution. Says he: "The stimulus idea still applies now, but who can tell what conditions are going to be like at the end of January...
...Solow, institute professor at MIT, won a NobelPrize in 1987 for his work on the impact oftechnology on economic growth...
...Solow made a "pioneering contribution" oneconomic growth that still stands as essentialscholarship in the field, according to Elmendorf...
...teacher, he was a really crucial personin training a generation of economists who didtheir Ph.Ds at MIT," said Elmendorf, who also saidthat Solow is "a very good writer, which is notuniversal among economists...