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SIPA Faculty
Joseph Stiglitz
Uris Hall, Room 814
University Professor of International Affairs; Business School, Economics; Chaired Professorship of Finance and Business; Co-Director, SDEV PhD Program
Phone: 212-854-0671
joseph.stiglitz@sipa.columbia.edu
jes322@columbia.edu
Biography:
Joseph E. Stiglitz is a professor of finance and business at Columbia University.
In 2001, Stiglitz received the Nobel Prize in Economics for his work in a new branch of economics—the economics of information. Within this new branch of economics, Stiglitz has explored the consequences of information asymmetries and pioneered such pivotal concepts as adverse selection and moral hazard, which have now become standard tools not only of theorists, but of policy analysts. He has made major contributions to macroeconomics and monetary theory, development economics and trade theory, public and corporate finance, the theories of industrial organization and rural organization, and the theories of welfare economics and of income and wealth distribution. Stiglitz's work has helped explain the circumstances in which markets do not work well and how selective government intervention can improve their performance.
Stiglitz has written more than 300 articles, 12 books, and textbooks that have been translated into more than a dozen languages. Globalization and Its Discontents (Norton 2001) has been translated into twenty languages and is an international bestseller. His most recent book is The Roaring Nineties (Norton 2003). He also founded one of the leading economics journals, the Journal of Economic Perspectives. From 1997 to 2000 Stiglitz was the chief economist and senior vice president of the World Bank. During the Clinton administration, he served as the chair of the Council of Economic Advisors from 1995 to 1997.
A graduate of Amherst College, Stiglitz received his PhD from MIT in 1967 and became a full professor at Yale University in 1970. In 1979 he was conferred the John Bates Clark Award, given biennially by the American Economic Association to the economist under 40 who has made the most significant contribution to the field. He has taught at Princeton University, Stanford University, MIT, and was the Drummond Professor and a fellow of All Souls College, University of Oxford.
Research Interests: Development Economics, International Finance, Economics of Information, Monetary Theory