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Economists


Photo of Dave Altig David E. Altig
Executive Vice President and Director of Research

Research Department
Federal Reserve Bank of Atlanta
1000 Peachtree Street N.E.
Atlanta, Georgia 30309-4470
404-498-8824
Dave.Altig@atl.frb.org

To interview economists, press should contact Public Affairs at 404-498-8748.


  • Biography
  • Research
  • Curriculum Vitae

Biography

Dr. David E. Altig is executive vice president and director of research at the Federal Reserve Bank of Atlanta. In addition to advising the Bank president on monetary policy and related matters, Dr. Altig oversees the Bank's regional executives and the Bank's research department. He also serves as a member of the Bank's management and discount committees. He leads the Atlanta Fed's macroblog, which provides commentary on economic topics, including monetary policy, macroeconomic developments, and the Southeast economy.

Dr. Altig also serves as an adjunct professor of economics in the graduate school of business at the University of Chicago.

Prior to joining the Atlanta Fed, Dr. Altig served as vice president and associate director of research at the Federal Reserve Bank of Cleveland. He joined the Cleveland Fed in 1991 as an economist before being promoted in 1997. Before joining the Cleveland Fed, Dr. Altig was a faculty member in the department of business economics and public policy at Indiana University. He also has lectured at Ohio State University, Brown University, Case Western Reserve University, Cleveland State University, Duke University, John Carroll University, Kent State University, and the University of Iowa, and in the Chinese Executive MBA program sponsored by the University of Minnesota and Lingnan College of Sun Yat-Sen University.

Dr. Altig's research is primarily focused on monetary and fiscal policy issues. His articles have appeared in a variety of journals, and he has served as editor for several conference volumes on a wide range of macroeconomic and monetary-economic topics.

Dr. Altig was born in Springfield, Ill., Aug. 10, 1956. He graduated from the University of Iowa with a bachelor's degree in business administration. He earned his master's and doctoral degrees in economics from Brown University.

He and his wife Pam have four children and six grandchildren.

Research

Cleveland Fed Working Papers

"Firm-Specific Capital, Nominal Rigidities, and the Business Cycle," Federal Reserve Bank of Cleveland Working Paper 04-16, December 2004 (with Lawrence Christiano, Martin Eichenbaum, and Jesper Linde).

"Sources of Business Cycles in Korea and the United States," Federal Reserve Bank of Cleveland Working Paper No. 9822, January 1998 (with Alan C. Stockman).

"Simulating U.S. Tax Reform," Federal Reserve Bank of Cleveland Working Paper No. 9712, August 1997 (with Jan Walliser, Kent Smetters, Laurence J. Kotlikoff, and Alan J. Auerbach).

"The Efficiency and Welfare Effects of Tax Reform: Are Fewer Tax Brackets Better Than More?" Federal Reserve Bank of Minneapolis, Institute for Empirical Macroeconomics, Discussion Paper No. 78, December 1992.

"Social Security Privatization: A Simple Proposal," Federal Reserve Bank of Cleveland Working Paper No. 9703, April 1997 (with Jagadeesh Gokhale).

"Marginal Tax Rates and Income Inequality in a Life-Cycle Model," Federal Reserve Bank of Cleveland Working Paper No. 9621, December 1996 (with Charles T. Carlstrom).

"Marginal Tax Rates and Income Inequality: A Quantitative-Theoretic Analysis," Federal Reserve Bank of Cleveland Working Paper No. 9508, August 1995 (with Charles T. Carlstrom).

"Computable General-Equilibrium Models and Monetary Policy Advice," Federal Reserve Bank of Cleveland Working Paper No. 9503, May 1995 (with Charles T. Carlstrom and Kevin J Lansing).

"The Efficiency and Welfare Effects of Tax Reform: Are Fewer Tax Brackets Better Than More?," Federal Reserve Bank of Cleveland Working Paper No. 9212, November 1992 (with Charles T. Carlstrom).

"Inflation, Personal Taxes, and Real Output: A Dynamic Analysis," Federal Reserve Bank of Cleveland Working Paper No. 9102, February 1991 (with Charles T. Carlstrom).

"Bracket Creep in the Age of Indexing: Have We Solved the Problem?" Federal Reserve Bank of Cleveland Working Paper No. 91-08, 1991 (with Charles T. Carlstrom).

"Inflation and the Personal Tax Code: Assessing Indexation," Federal Reserve Bank of Cleveland Working Paper No. 90-06, 1990 (with Charles T. Carlstrom).

"Altruism, Borrowing Constraints, and Social Security," Federal Reserve Bank of Cleveland Working Paper No. 89-18, 1989 (with Steven J. Davis).

"The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings," Federal Reserve Bank of Cleveland Working Paper No. 89-17, 1989 (with Steven J. Davis).

Other Cleveland Fed Publications

"When Is a Rate Hike Not Tighter Policy?," Federal Reserve Bank of Cleveland, Economic Commentary, August 1, 2004.

"What Is the Right Inflation Rate?," Federal Reserve Bank of Cleveland, Economic Commentary, September 15, 2003.

"Dollarization: What's in It for US?," Federal Reserve Bank of Cleveland, Economic Commentary, October 15, 2002.

"Why Is Stable Money Such a Big Deal?" Federal Reserve Bank of Cleveland, Economic Commentary, May 1, 2002.

"Why Haven't Long-Term Interest Rates Fallen?" Federal Reserve Bank of Cleveland, Economic Commentary, January 1, 2002 (with Ed Nosal).

"Fiscal Policy and Fickle Fortunes: What's Luck Got to Do With It?" Federal Reserve Bank of Cleveland, Economic Commentary, April 1, 2000.

Dollarization and Monetary Sovereignty: The Case of Argentina," Federal Reserve Bank of Cleveland, Economic Commentary, September 15, 1999 (with Owen F. Humpage).

"Growth and the Internet: Surfing to Prosperity?" Federal Reserve Bank of Cleveland, Economic Commentary, September 1, 1999 (with Peter C. Rupert).

"Fixing Social Security: Is the Surplus the Solution?" Federal Reserve Bank of Cleveland, Economic Commentary, April 1, 1999 (with Jagadeesh Gokhale).

"In Search of the NAIRU," Federal Reserve Bank of Cleveland, Economic Commentary, May 1, 1998 (with Paul Gomme).

"Assessing Fundamental Tax Reform," Federal Reserve Bank of Cleveland, Economic Commentary, January 15, 1998 (with Jan Walliser, Alan J. Auerbach, Lawrence J. Kotlikoff, and Kent Smetters).

"Okun's Law Revisited: Should We Worry about Low Unemployment?" Federal Reserve Bank of Cleveland, Economic Commentary, May 15, 1997 (with Terry J. Fitzgerald and Peter C. Rupert).

"Is Noninflationary Growth an Oxymoron?" Federal Reserve Bank of Cleveland, Economic Commentary, May 1, 1997 (with Peter C. Rupert and Terry J. Fitzgerald).

"A Simple Proposal for Privatizing Social Security," Federal Reserve Bank of Cleveland, Economic Commentary, May 1, 1996 (with Jagadeesh Gokhale).

"Making Sense of the Federal Budget Impasse," Federal Reserve Bank of Cleveland, Economic Commentary, January 15, 1996.

"A Conference on Liquidity, Monetary Policy, and Financial Intermediation," Federal Reserve Bank of Cleveland, Economic Review, Fourth Quarter 1995, pp. 2–9 (with Charles T. Carlstrom).

"Monetary Policy: An Interpretation of 1994, a Challenge for 1995," Federal Reserve Bank of Cleveland, Economic Commentary, February 15, 1995.

"The Efficiency and Welfare Effects of Tax Reform: Are Fewer Tax Brackets Better Than More?" Federal Reserve Bank of Cleveland, Economic Review, vol. 30, no. 4, December 1994, pp. 30–42 (with Charles T. Carlstrom).

"Health Care Reform from a Generational Perspective," Federal Reserve Bank of Cleveland, Economic Commentary, April 15, 1994 (with Jagadeesh Gokhale).

"Back to the Future: Prospective Deficits through the Prism of the Past," Federal Reserve Bank of Cleveland, Economic Commentary, March 15, 1994 (with Jagadeesh Gokhale).

"The Budget Reconciliation Act of 1993: A Summary Report," Federal Reserve Bank of Cleveland, Economic Commentary, October 15, 1993 (with Jagadeesh Gokhale).

"Using Bracket Creep to Raise Revenue: A Bad Idea Whose Time Has Passed," Federal Reserve Bank of Cleveland, Economic Review, vol. 29, no. 2, June 1993, pp. 2–11 (with Charles T. Carlstrom).

"An Overview of the Clinton Budget Plan," Federal Reserve Bank of Cleveland, Economic Commentary, March 1, 1993 (with Jagadeesh Gokhale).

"Some Fiscal Advice for the New Government: Don't Let the Sun Go Down on BEA," Federal Reserve Bank of Cleveland, Economic Commentary, February 1, 1993.

"Federal Credit and Insurance Programs: Beyond the Deficit Diversion," Federal Reserve Bank of Cleveland, Economic Commentary, November 15, 1992.

"Can Conventional Theory Explain the Unconventional Recovery?" Federal Reserve Bank of Cleveland, Economic Commentary, April 15, 1992 (with Michael F. Bryan).

"An Ebbing Tide Lowers All Boats: Monetary Policy, Inflation, and Social Justice," Federal Reserve Bank of Cleveland, Economic Review, Second Quarter 1992, pp. 14–22.

"Is Household Debt Inhibiting the Recovery?" Federal Reserve Bank of Cleveland, Economic Commentary, February 15, 1992 (with Susan M. Byrne and Katherine A. Samolyk).

"Increasing National Saving: Are IRAs the Answer?" Federal Reserve Bank of Cleveland, Economic Commentary, September 1, 1991 (with Katherine A. Samolyk).

"The Case of the Missing Interest Deductions: Will Tax Reform Increase U.S. Saving Rates?" Federal Reserve Bank of Cleveland, Economic Review, vol. 26, no. 4, December 1990, pp. 22–34.

"Making Sense of the Moynihan Gambit: A Perspective on the Social Security Debate," Federal Reserve Bank of Cleveland, Economic Commentary, June 1, 1990.

Proceedings

Comment on "Taking Intermediation Seriously," Journal of Money, Credit, and Banking, Part 2, December 2003, vol. 35, no. 6, pp. 1367–77.

"Recent Developments in Monetary Economics; A Conference Sponsored by the Federal Reserve Bank of Cleveland, November 6–8, 2002," Journal of Money, Credit, and Banking, vol. 35, no. 6, part 2, December 2003.

Journal Articles

"Simulating Fundamental Tax Reform in the United States," American Economic Review, vol. 91, no. 3, June 2001, pp. 574–95 (with Alan J. Auerbach, Lawrence J. Kotlikoff, Kent Smetters, and Jan Walliser).

"Marginal Tax Rates and Income Inequality in a Life-Cycle Model," American Economic Review, vol. 89, no. 5, December 1999, pp. 1197–1215 (with Charles T. Carlstrom).

Introduction to conference volume on the role of central banks in money and payments systems, Journal of Money, Credit, and Banking, vol. 31, no. 3, part 2, August 1999, pp. 435–42.

Introduction to conference volume: "Dynamic Effects of Monetary Policy," Journal of Money, Credit, and Banking, vol. 29, no. 4, part 2, pp. 561–67 (with Lawrence Christiano and Martin Eichenbaum).

"Social Security Privatization: A Simple Proposal," The Cato Project on Social Security Privatization, May 29, 1997 (with Jagadeesh Gokhale).

"Computable General Equilibrium Models and Monetary Policy Advice," Journal of Money Credit and Banking, November 1995, vol. 27, no. 4, part 2, pp. 1472–1505 (with Charles T. Carlstrom and Kevin J. Lansing).

Introduction to conference volume: "Liquidity, Monetary Policy, and Financial Intermediation," Journal of Money, Credit, and Banking, vol. 27, no. 4, part 2, November 1995, pp. 1199–1208 (with Charles T. Carlstrom).

"Borrowing Constraints and Two-Sided Altruism with an Application to Social Security," Journal of Economic Dynamics and Control, May 1993, vol. 17, no. 3, pp. 467–94 (with Steven J. Davis).

"The Timing of Intergenerational Transfers, Tax Policy, and Aggregate Savings," American Economic Review, vol. 82, no. 5, December 1992, pp. 1199–1220 (with Steven J. Davis).

"Inflation, Personal Taxes, and Real Output: A Dynamic Analysis," Journal of Money, Credit, and Banking, vol. 27, no. 4, part 2, August, 1991, pp. 547–71 (with Charles T. Carlstrom).

"Government Debt, Redistributive Fiscal Policies, and the Interaction between Borrowing Constraints and Intergenerational Altruism," Journal of Monetary Economics, vol. 24, no. 1, July 1989, pp. 3–29 (with Steven J. Davis).

"Econometric Analysis of Consumption Behavior and Fiscal Policy: A Review Essay," Journal of Monetary Economics, vol. 22, no. 1, July 1988, pp. 155–64.

Article in Book

"Sources of Business Cycles in Korea and the United States," in The Implications of Globalization of World Financial Markets, Bank of Korea, December 1998 (with Alan C. Stockman).

Other Working Papers

"Simulating U.S. Tax Reform." 1997. National Bureau of Economic Research, Working Paper No. 6248 (with Jan Walliser, Kent Smetters, Lawrence J. Kotlikoff, and Alan J. Auerbach).

"Altruism, Borrowing Constraints, and Social Security." 1989. Stanford Hoover Institute, Working Paper in Economics No. E-89-16 (with Steven J. Davis).

Curriculum Vitae

Academic Affiliations

    Current
  • Adjunct Associate Professor in Business Economics, Graduate School of Business, University of Chicago.
  • Lecturer, Department of Economics, Cleveland State University. Lecturer, College of Business, Kent State University.

  • Previous
  • Visiting Professor of Economics, Henry B. Tippie School of Business, University of Iowa. (January–May 2000).
  • Lecturer, Weatherhead School of Management, Case Western Reserve University.
  • Lecturer, Department of Economics and Finance, John Carroll University.
  • Assistant Professor of Business Economics and Public Policy, Indiana University (August 1986–May 1991).
Editorial Activities
  • Special Issue Editor, "The Role of Central Banks in Money and Payment Systems," Journal of Money, Credit, and Banking, August 1999, part 2.
  • Special Issue Editor, "Dynamic Effects of Monetary Policy," Journal of Money, Credit, and Banking, November 1997, part 2.
  • Special Editor, "Liquidity, Monetary Policy, and Financial Intermediation," Journal of Money, Credit, and Banking, November 1995.
Bank Activities
  • Efficiency Recommendation Team, 1995
  • Quality Council, 1996–97
  • Transformation 2000 Direction Team, 1997–98
  • Chair, Bank Management Committee, 1997–99
  • Job Evaluation Team, 1999–2000