Surprisingly Change: Paul Romer to chief economist of the World Bank – FAZ – Frankfurter Allgemeine Zeitung

The World Bank plans to appear, the economist Paul Romer to make its new chief economist. The reports the newspaper “Financial Times”, citing several sources within the institution. An official confirmation of Personnel did not exist, however. According to the report the appointment Romer to be presented to the Executive Board of the World Bank as early as Monday and end of the week to the public. On Twitter, the Personnel spread quickly on Sunday.

With Romer probably the most famous economist would stop the position since the Nobel laureate Joseph Stiglitz. Romer is one of the creators of the new growth theory, and was himself again as a contender for the Nobel Prize. The American, who teaches currently at the University of New York to follow the end of Kaushik Basu, who currently holds the position of the World Bank Chief Economist.

Paul Romer to chief economist of the world Bank according to a newspaper report.

with Romer an important and sometimes provocative voice would move into the Science department of the world Bank. Romer is a big advocate of the theory of endogenous growth, arguing that knowledge and innovation are essential growth drivers. Its corresponding article from the nineties is considered one of the most important papers of the economy in the past 30 years.

Currently, Romer preoccupied with the role of cities in the economy and the urbanization. He repeatedly stressed the importance of economic growth to poverty reduction. “We often lose sight of how important may even small changes in the average growth rate,” writes the Economist in a recent blog post.

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Last Romer had made many headlines with his criticism of the so-called “Mathiness”. That’s the term, with the Romer, the misuse of mathematics in economic analysis says. Under the guise of seemingly neutral, but in fact technically inferior research verträten economists colleagues partly economic policy positions, his sensational accusation. Wing this was among other things to the popular economist Thomas Piketty.

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