Russell Cooper named Distinguished Professor of Economics

Russell Cooper, Distinguished Professor of Economics. With over 60 publications in refereed journals and more than 11,000 citations to his work, Professor Cooper is among the most creative, influential, and productive researchers of his generation in the field of macroeconomics. In his early work on coordination failures and complementarities has had great impact (his paper with his student, Andrew John, has had over 1,800 citations) and has led to a large literature. This work influenced his subsequent work on non-convexities in capital adjustment. Here he showed, through structural estimation of models with non-convexities, that investment tends to be lumpy and bunched (over time), a very different view from the conventional model of quadratic adjustment costs that previously dominated the literature. This work was important in explaining many puzzles in dynamic macroeconomics. Professor Cooper has also done important work on monetary unions and the difficulties that arise when fiscal policy is set individually by members.  Recently, he has also studied the interaction of household finance and education decisions. Some of this research has utilized Chinese data sets to study how access to finance impacts such choices. He is a fellow of the Econometric Society and a Research Associate of the NBER.