justin wolfers wife

[8] Prior to coming to the University of Michigan, Wolfers was associate professor of business and public policy at the Wharton School of the University of Pennsylvania. Using a red laser pointer to highlight PowerPoint graphs, Ms. Stevenson told a group of economists, psychologists and other experts gathered at the Russell Sage Foundation on the Upper East Side of Manhattan that earlier research had failed to take into account that as people and countries grow richer, it takes a much bigger amount of absolute dollars to raise incomes, and thus happiness. Justin Wolfers' homepage. Bollocks’ whenever I called on him.”, Mr. Wolfers later achieved star status at Harvard when Olivier Blanchard, then a visiting professor there, invited him to collaborate on research examining unemployment in Europe. So Ms. Stevenson asked her daughter about her afternoon at the playground. The couple officially met at a party. I think he underestimates how much student loans … Still, data alone can’t explain everything in life. As @jasonfurman has noted, a 2% cut would yield $5,508 for a high-income couple, but … The first week on the job, he neglected to collect receipts on some of the bets he had placed with his boss’s money. “We’re experts about abstract notions, so my friends might call me and say, ‘How’s the economy doing?’ but not, ‘Should I get married?’ ”. Mr. Wolfers has written about the joys of fatherhood: “It’s visceral; it’s real; it’s hormonal and it’s not in our economic models.”. When a friend asked if she and her husband should move from the Upper East Side of Manhattan to the Upper West Side because they liked the West Side better, Ms. Stevenson explained the reasons that their decision might be economically unsound, even if it was the right choice emotionally. It also helps that they don’t fit the stereotypes of tweedy academics. Here’s a picture Justin shows to demonstrate the point (the gray bars are recessions). Ms. Stevenson has an irresistible laugh and a stylish taste in clothes and shoes. In high school in Virginia, she was a top student in math and science but felt out of place in a social milieu that prized looks and boyfriends over academics. The authors' aim was to reflect a school of thought where "every decision a person makes as an economic decision" and offer examples students could relate to in order to better reflect the real world.[11]. [6] He is noted for his research on happiness and its relation to income. He settled on Stanford Business School, where he was an assistant professor between 2001 … “But there were these other factors.”, “I disagree with everything Betsey was just saying,” Mr. Wolfers said. At first, he decided to forgo college, running for a bookie at a local racetrack. But real economics takes account of emotions as well.”. At one point in the debate, I almost summed up my case by saying “It’s the vibe.” They have impressive degrees and serious careers and the social markers that go with them. In the attic is a home gym with a treadmill, a boxing bag, a recumbent bicycle and a flat-screen television. Are people in rich countries happier than people in poor countries? A glass-top Noguchi coffee table is in the living room, next to a white Jonathan Adler casting couch covered in a sheepskin throw from Costco. Their modest celebrity has led to some sniping among their peers — several would not publicly declare their criticism — but their fans are effusive. BOTH hew — one might even say passionately — to the data. Mr. Wolfers has been a co-author of papers on subjects as diverse as capital punishment and racial bias among N.B.A. Wolfers' research has explored the economics of sports, sports betting, prediction markets and the family. But Ms. Stevenson says she gives a lot of thought to how people feel in certain situations and how those feelings influence their behavior. “My confidence had been so eroded that I was the one saying, ‘Well, maybe this ...’ But you can’t exist in economics that way,” she said. Justin Wolfers @JustinWolfers. While divorce rates have … (Yes.) The New Yorker returns an award for its story on a Japanese rent-a-family business. After Wellesley, she worked as a research assistant at the Federal Reserve, then left for Harvard to begin her Ph.D. Marriage and the Market by Betsey Stevenson and Justin Wolfers Betsey Stevenson and Justin Wolfers, economists at the Univesity of Pennsylvania’s Wharton School, “re-frame Coontz’s careful history of the family in the language of economics,” exploring the economic forces underlying changes … “To get a 10 percent increase in income, you need more dollars than when you are poor.”, Asked for comment, Mr. Easterlin declined to be interviewed but pointed out in an e-mail that their research excluded China and India. Ms. Stevenson went to work for Forrester Research, the technology consulting firm. [7], Wolfers moved to the University of Michigan as professor of economics and public policy beginning in fall 2012 with his partner, fellow economist Betsey Stevenson. BETSEY STEVENSON and Justin Wolfers might sound like almost any upscale couple. The first study was the work of husband and wife economists Betsey Stevenson and Justin Wolfers at the University of Pennsylvania. But at their home last month, their delight in their daughter was clear. A recent graduate of The King’s College , he and his wife, Amber, are co-investigators of the “Love and Marriage in Middle America” project, a qualitative study based on 100 interviews with young people about … Instead, it has evolved. They have one child, but there are two strollers, a Bugaboo and a Bob baby jogger, parked in the front hall of their stylish home here. “Mama,” Matilda interrupted, “stop talking about work.”. marriage based on … They don’t really know.) One might have expected marriage to disappear as its traditional benefits faded. [citation needed], In 2007, he was named in David Leonhardt's column as one of 13 young economists who were the future of economics. Neither Mr. Wolfers nor Ms. Stevenson grew up this way. Their intellectual partnership soon blossomed. Jessica Kourkounis for The New York Times. The national discussion about same-sex marriage is heating up. Some people have mistaken their scholarly interests for insights of the touchy-feely, self-help variety. Their professional stature extends beyond their study of domestic life. He is professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, and a Senior Fellow at the Peterson Institute for International Economics. It’s like a gene or something.”, Still, Ms. Stevenson said her self-esteem took a beating at Harvard. Specifically, they report that "states that adopted no-fault divorce experienced a decrease of 8 to 16 percent in wives' suicide rates and a … In marriage, "a husband and wife can each threaten the other implicitly if each has outside options," Wolfers said. I particularly liked his joking around before the debate when Gene Epstein asked him how he met his American wife. Within a year, she was itching to get back to the academy. Justin Wolfers was a worthy opponent and a clean debater. They found that women’s happiness levels had dropped over time in … The idea is that, within a given country, people with higher incomes are more likely to be happy, and yet, for the most part, the average level of happiness doesn’t vary much from rich countries and poor countries. “Any attempts to hide his feelings, positive or negative, are doomed to failure. “I was the most self important 22-year-old you ever met,” Mr. Wolfers said. What’s more, as countries become richer, their populations don’t become happier. 12944 March 2007 JEL No. Their choice of topics tends to push people’s buttons and to grab the attention even of those who might ignore the latest figures on nonfarm payrolls or industrial capacity utilization. Another reason they stand out is that they have a remarkable ability to render economic concepts in simple terms. Mr. Wolfers enrolled in the University of Sydney and went on to earn the University Medal in economics. I won, and in an unusual way. (He used a more colorful word.). She persuaded her boss to let her cobble together vacation time to work on economic research about the effect of the Internet on job search behavior. “Education was the only way out of a dreary strip-mall existence,” she said. Biden’s top economic adviser warns the economy will be in ‘a much worse place’ without more aid. D1,H31,I3,J1,K36,N3 ABSTRACT We document key facts about marriage and divorce, comparing trends through the past 150 years and outcomes across demographic groups and countries. Mr. Wolfers, an iPad fan, wants to get rid of their print books. “But somehow the story has gotten less generous.”. forbesindia.com — Home UpFront Global News An economist offers advice on the most urgent tasks that need to be done for the economy in the next presidential term By Justin Wolfers Published: Nov 7, 2020 Image: Al Drago/ The New York Times Dear Mr. President: The American people face enormous challenges. “It wasn’t what he said; it was his long hair,” she said. referees. Justin Wolfers: To be honest, I’m puzzled. But when Ms. Stevenson, 40, and Mr. Wolfers, 39, start talking about say, diapers or nursing, the conversation takes an odd turn. Wharton School of the University of Pennsylvania. Justin James Michael Wolfers, born in 1972, is an Australian economist and public policy scholar. From there, he joined Australia’s central bank. “Betsey used to tell this story as, ‘He was too good-looking to be an economist,’ ” he said. Also interesting on the economics of marriage, here is Justin’s NY Times Op-Ed explaining trends in the marriage rate and the “hedonic model” of marriage proposed by Wolfers and Betsey Stevenson, i.e. Wolfers said that student loan people wouldn’t spend much of the money. [5] Wolfers attended James Ruse Agricultural High School (1985–1990). Mr. Wolfers, the second of six children, spent his early years in Sydney. Claudia Goldin, a Harvard labor economist and another of Ms. Stevenson’s advisers, says she hopes that her former student and Mr. Wolfers will balance a little more emotion with classic economics in the introductory textbook they are writing together. Mr. Wolfers said that although he has an emotional side, “as an economist I’ve learned to squash it like hell.”. He is a contributor to the New York Times (where he writes for The Upshot blog) and the Wall Street Journal, and was an editor of the Brookings Papers on Economic Activity from 2009 through Fall 2015. At first, Ms. Stevenson dismissed him as a mere political scientist. (Ms. Stevenson and Mr. Wolfers found significant problems with data from both of those countries.). So while it could appear that increases in happiness flattened out after incomes reached a certain point, “the richer you are, the more dollars it takes to give you the same increase in well-being,” Ms. Stevenson said. Wolfers holds a Ph.D. in Economics (1997–2001) and an Master of Economics (2000), both from Harvard University, and a Bachelor of Economics from the University of Sydney (1991–1994). But this occasion was different. Over dinner, he and Ms. Stevenson began discussing Republican attacks on President Obama’s economic policies. But in light of the Gingrich affair — (which one? “Betsey says, here are a set of benefits and costs, and they chose to do the emotional thing. Both describe their childhood experiences of divorce and unemployment as profoundly formative, professionally and personally. “So now we are not married,” Mr. Wolfers joked, “but we both have jobs.”, Mr. Wolfers excelled at math from an early age and began studying economics in high school. “She has a weird cleverness about how to use the data in the real world to answer the questions in front of us,” said Caroline M. Hoxby, who served as one of her thesis advisers and is now a professor at Stanford. After all, I’m just a straight-laced economist. That’s what they do. Their research shows that men have grown happier as women have become unhappier. That may sound a little abstract, but economists Betsey Stevenson and Justin Wolfers discovered a chilling example of the way that the increased availability of divorce empowered women. But when economists fall in love theyre not the same as the rest of us. So she turned down a faculty position at the University of Michigan and moved to California with Mr. Wolfers, who had accepted a job at the Stanford business school. (She works Monday to Friday, 8 a.m. to 7 p.m.) The couple also have someone who drives them back and forth to Princeton and who cooks, does the laundry and snakes the drains when they are clogged. He is professor of economics and public policy at the Gerald R. Ford School of Public Policy at the University of Michigan, and a Senior Fellow at the Peterson Institute for International Economics. In their first jointly published paper, they examined what happened after states passed laws allowing one spouse to initiate a divorce. First documented by the economist Richard Easterlin in the 1970s, this concept involves the link between economic growth and happiness. (Why? Mr. Wolfers, above, and Ms. Stevenson, below, both describe their childhood experiences of divorce and unemployment as profoundly formative, both professionally and personally. Two-earner couples have become the norm, and families spend less time on housework. Ms. Stevenson was an Air Force brat whose family hopscotched around the country before ending up in Yorktown, Va., not far from Newport News. “Economists make very cold, calculating decisions and will come up with what looks like the rational best decision,” Ms. Stevenson said. You either have it or you don’t have it. 1 Economics and Open Marriage January 24, 2012 @ 9:52am by Justin Wolfers (Photo: Charles Fettinger) I have to admit that it counts as one of the more bizarre requests of my scholarly life. Almost inevitably, a counter-attack was launched in the form of a 2008 paper by the husband and wife team of Betsey Stevenson and Justin Wolfers titled “ Economic Growth and Subjective Well-Being: Reassessing the Easterlin Paradox ” and a subsequent follow-up in 2013 called “ Subjective Well-Being … Mr. Wolfers had brought a six-pack of Newcastle Brown Ale and, as was the Aussie custom, planned to drink it all himself. In her third year there, a handsome Australian on a Fulbright scholarship arrived. Unemployment has come down from double digits to 5.8 percent, employment growth has been extremely strong, there’s no inflation anywhere on the horizon. “That is something that can’t be taught. They cite a number of possible reasons, including more balanced expectations between men and women about how a marriage will actually work, as well as the fact that fewer people are marrying in the first place. Mr. Wolfers once distilled a research paper by fellow economists on “present value earnings losses associated with job displacement” like this: Losing your job stinks. So far, the books have stayed — in custom-built shelves. Boby Michael, "IMF Lists 25 Brightest Young Economists", International Business Times, Peterson Institute for International Economics, Shared Earning/Shared Parenting relationship, "RePEc Genealogy page for Justin Wolfers", "Much-Watched Couple in Economics Lands at U. of Michigan", "25 years at the top of the HSC: What makes James Ruse special", http://www.brookings.edu/research/papers/2013/04/subjective-well-being-income, "The future of economics isn't so dismal", "Macmillan Learning announces publication date for new Stevenson, Wolfers economics textbooks", https://en.wikipedia.org/w/index.php?title=Justin_Wolfers&oldid=995343309, People educated at James Ruse Agricultural High School, Articles with unsourced statements from July 2019, Wikipedia articles with BIBSYS identifiers, Wikipedia articles with WORLDCATID identifiers, Creative Commons Attribution-ShareAlike License, This page was last edited on 20 December 2020, at 14:47. “The truth is, it was for me a really natural way of seeing the world,” she said. “It struck me that it was very blunt, but it also wasn’t a word that Americans use very much,” he said. Mr. Wolfers, who is Australian, looks like a nerdy surfer and tends to pull his chin-length blond hair into a ponytail. Betsey Stevenson and Justin Wolfers NBER Working Paper No. Matilda’s nanny has a master’s degree in education and draws an annual salary of $50,000. Their daughter, Matilda, who is almost 2 1/2 , attends classes in art, music and soccer. Before the debate, 49.21 percent of the audience voted for my side and 31.75 percent for Justin… If you’re relatively affluent, as they are, they recommend outsourcing child care and domestic chores so you can spend your time on more leisure or economically worthwhile pursuits. Wolfers is a Professor of Economics and Public Policy at the University of Michigan. She headed for Wellesley College and eventually decided to study economics. Site contains research papers, CV, op-eds, research data, and class syllabi. Before long, he moved in. But she realized that many of the popular students in high school did not end up having the kind of adult life she wanted. Everyone in the economics department quickly noticed Mr. Wolfers’s brash assurance. “So for the next couple of weeks I called him ‘Mr. Before Matilda arrived, Ms. Stevenson reviewed research on children and their effect on adult happiness. Sometimes people can’t resist asking for advice. Suddenly, words like “inputs” and “outputs” — the economic kind — creep in. In 2001, Wolfers met Yellen again, when she and husband Akerlof interviewed him for an academic job at Berkeley. They are now writing an introductory economics textbook. Mr. Wolfers, kneading one of Ms. Stevenson’s pedicured feet, interrupted. BIRDS do it, bees do it, even educated fleas do it. “They’re terrific economists,” said N. Gregory Mankiw, the Harvard economics professor who taught the couple during graduate school, adding that he saw no evidence that their public profile had “affected the quality of their scientific work.” (Professor Mankiw is a contributor to the Economic View column in Sunday Business.). Faculty members at the Wharton School of the University of Pennsylvania, and currently visiting fellows at Princeton, Ms. Stevenson and Mr. Wolfers have become the go-to pair on the economics of marriage, divorce and child-rearing. My wife racked up $150k on a law degree (state school with residency) I have $50k in an undergrad in business (state school with non-resident) We will pay it back, eventually. Justin Wolfers is the pin-up boy for a new brand of economics. I also liked his Aussie humor about New Zealand. His mother, Roslyn Wolfers, said she was bemused by this analysis. They argue that there is a positive relationship over time and across countries between income and self-reported measures of happiness. — Justin Wolfers (@JustinWolfers) June 24, 2016 A victory it was — for those who reject the political and economic policies of recent years. He had a Fulbright Scholarship. Economics has clearly been good to them. [9] In 2014, he was named by International Monetary Fund as one of the 25 brightest young economists who are expected to shape the world's thinking about the global economy in the future. By the time Wolfers was in year 12, Roslyn had found another house, but it only had two bedrooms: she got one, Justin got the other, and the rest of the family slept in the garage. She said humor about New Zealand world, ” mr. Wolfers had brought a six-pack of Brown. Air Force, he had trouble finding a job relation to income him for an academic at... Strip-Mall existence, ” he said asked him how he met his American wife said her self-esteem took beating... 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