April 20, 2014

Janet Yellen Fact Sheet

Janet YellenBerkeley-Haas

  • Current Title: Eugene E. and Catherine M. Trefethen Professor Emeritus of Business Administration, UC Berkeley, Haas School of Business
  • Academic Group: Haas Economic Analysis and Policy Group
  • 1980-2006

See Janet Yellen’s faculty biography.

Positions held:

2010 - present, Vice Chair, Federal Reserve Board of Governors
1985 - 2006, Professor, Haas School of Business, UC Berkeley
2004 - 2010, President and CEO, Federal Reserve Bank of San Francisco
1997 - 1999, Chair, President's Council of Economic Advisors
1994 - 1997, Member, Board of Governors of the Federal Reserve System
1982 - 1985, Associate Professor, Haas School of Business, UC Berkeley
1980 - 1982, Assistant Professor, Haas School of Business, UC Berkeley
1978 - 1980, Lecturer, London School of Economics and Political Science
1977 - 1978, Economist, Division of International Finance, Trade and Financial Studies Section, Board of Governors of the Federal Reserve System
1971 - 1976, Assistant Professor, Department of Economics, Harvard University
1974, Research Fellow, Massachusetts Institute of Technology

Areas of research:

  • Unemployment and labor markets
  • Monetary and fiscal policies
  • International trade and investment policy
  • See published research, below.

See Yellen's research in the American Economic Review. 
The American Economic Association named Yellen 2012 Distinguished Fellow. 

Teaching:

From 1980-2004, Yellen taught thousands of Berkeley-Haas students in the undergraduate, full-time MBA, and Evening & Weekend MBA programs. She taught the required macroeconomics course at the MBA level for 11 semesters.

Undergraduate courses:
o    Macroeconomics (required course)
o    Introduction to International Business
o    Business Fluctuations and Forecasting

MBA courses:
o    Macroeconomics (required course)
o    Introduction to International Business
o    Applied International Economics
o    Survey of International Business
o    Theory and Institutions of International Trade

Teaching Awards:

Yellen won the Earl F. Cheit Award for Excellence in Teaching in the full-time MBA program in 1985 and in the Evening and Weekend MBA program in 1988.

Berkeley-Haas Dean Emeritus Earl “Budd” Cheit on Janet Yellen:  “I hired her and have been pleased ever since. At the Haas School, her colleagues and students admired her scholarship and her teaching.  As a dean, I especially admired her willingness to be an institution builder. To me, her defining characteristic is quiet competence.”

For the News Media:

Berkeley-Haas Media Relations Manager | Pamela Tom, ptom@haas.berkeley.edu

Former students of Yellen’s are available upon request. Faculty experts available to speak to the media:

Andrew Rose is a professor of international business and trade at the Haas School of Business and teaches global macroeconomics. Rose has conducted research with Yellen, whom he says may be the most experienced candidate ever for the Federal Reserve job.
Contact Andrew Rose: (510) 642-6609 or arose@haas.berkeley.edu

Carl Shapiro is an economist and another example of Berkeley-Haas professors’ commitment to public service. Shapiro served as a member of the President’s Council of Economic Advisers (2011-2012) and as Deputy Assistant Attorney General for Economics, Antitrust Division, U.S. Department of Justice (2009-2011 and 1995-1996). He is a longtime colleague of Janet Yellen. Contact Carl Shapiro (510) 642-5905 or shapiro@haas.berkeley.edu

James Wilcox has been a professor of economics at the Haas School of Business throughout Yellen’s tenure there, and served as a senior economist on the Council of Economic Advisers. His work looks at banking and business conditions. He says Yellen has the knowledge, temperament and experience to be a great Fed chief. He also notes that while with the Fed in other roles she has earned the respect of central bankers, economists, policy analysts, business and legislators in the United States and internationally. Contact James Wilcox: (510) 642-2455 or jwilcox@haas.berkeley.edu

Ulrike Malmendier is a professor of economics whose research focuses on corporate and behavioral finance, and the economics of organizations. She has written about how those who lived through the Great Depression feel about money and financial matters, and the impacts of overconfident chief executive officers in corporations.
Contact Ulrike Malmendier: (510) 642-3364 or ulrike@haas.berkeley.edu
 

Laura Tyson is a professor of business administration and economics at the Haas School of Business and a former member of Obama’s Economic Recovery Advisory Board who chaired the Council of Economic Advisers in the Clinton administration and the National Economic Council.  Her research focuses on U.S. trade policy, emerging markets and the global economy. 
Contact Laura Tyson: (510) 642-1230 or tyson@haas.berkeley.edu

Multimedia Resources:

Credit: UC Berkeley’s Haas School of Business

VideoJanet Yellen speaking at the International House, UC Berkeley, November 13, 2012

Clip 1  (Runs :18)
“James Tobin and Milton Friedman, both Nobel Laureates, disagreed on almost every aspect of monetary policy but they were united in arguing that transparency regarding central bank decisions is vital in a democracy to lend legitimacy to them.”

Clip 2  (Runs :22)
“The impact of monetary policy on the economy today depends not only or even primarily on the FOMC’s current target for the federal funds rate or the quantity of assets on its balance sheet but rather on how the public expects the Federal Reserve to set the paths of these variables in the future.”

Photos:
Click this link for photos of Janet Yellen. 

Print:
Berkeley-Haas magazine article on Janet Yellen (November 2012)
Janet Yellen won the Berkeley-Haas 2012  Business Leader of the Year Award. In this feature article she talks about how she became interested in economics, her years at Berkeley-Haas and her career at the Fed.

Wikipedia

Janet Yellen Published Research:

  • The Fabulous Decade: Macroeconomic Lessons from the 1990s, with Alan Binder. New York: The Century Foundation Press, 2001.
  • "Trends in Income Inequality and Policy Responses." Looking Ahead (October 1997).
  • "The Inequality Paradox: Growth of Income Disparity." National Policy Association (1998).
  • "The Continuing Importance of Trade Liberalization." Business Economics (1998).
  • "Monetary Policy: Goals and Strategy." Business Economics (July 1996).
  • "An Analysis of Out-of-Wedlock Childbearing in the United States," with George Akerlof and Michael Katz. Journal of Economics (May 1996).
  • "East Germany In From the Cold: The Economic Aftermath of Currency Union," with George Akerlof, Andrew Rose, and Helga Hessenius. Brookings Papers on Economic Activity 1991:1.
  • "How Large Are the Losses from Rule of Thumb Behavior in Models of the Business Cycle?" with George Akerlof, in Money, Macroeconomics and Economic Policy: Essays in Honor of James Tobin, edited by Willima Brainard, William Nordhaus, and Harold Watts, Cambridge, Mass.: MIT Press, 1991.

 

 

Topics:    Faculty News