Edward P. Lazear, the Morris A. and Nona Jean Cox Senior Fellow at the Hoover Institution since 1985, is also the Jack Steele Parker Professor of Human Resources Management and Economics at Stanford University’s Graduate School of Business, where he has taught since 1992. Lazear taught previously at the University of Chicago’s Economics Department and Graduate School of Business, where he was the Brown Professor of Urban and Labor Economics.
Lazear served as Chairman of the President’s Council of Economic Advisers and served at the White House from 2006 to 2009. In his position as the chief economic advisor to the President, he advised on a broad range of matters that involve both the macroeconomy and microeconomic issues.
Founding Editor of the Journal of Labor Economics, Lazear is a Fellow of the American Academy of Arts and Sciences, the American Association for the Advancement of Sciences, the Econometric Society, and the Society of Labor Economists of which he was president. Lazear is a Visiting Distinguished Fellow of the Becker Friedman Institute at the University of Chicago and heads the economics initiative at the George W. Bush Institute. He is also a Research Associate of the National Bureau of Economic Research, where he co-chairs the program in personnel economics. Lazear has been a mutual fund board director for funds associated with Dimensional Fund Advisors since 2010.
Lazear has written extensively on labour markets and personnel issues; microeconomic theory; issues involving worker compensation and effects on productivity; entrepreneurship; governmental policies on discrimination, affirmative action, and comparable worth; educational policy; unemployment; culture, language, and diversity issues; the doctrine of employment at will; distribution of income within the household; pricing and marketing policies; and other issues involving labour markets and the macroeconomy. He has over 100 published academic articles, he is a frequent contributor to the popular press, and has written or edited twelve books.
Lazear’s book Personnel Economics (MIT Press, 1995) expands on his 1993 Wicksell Lectures. In 1998, he received the Melamed Prize, which cited this book as the best research by a business school professor anywhere in the world during the previous two years. He received the Distinguished Teaching Award from Stanford University’s Graduate School of Business, the PhD Faculty Distinguished Service Award and the Davis Award for Lifetime Distinguished Service.
Lazear won the IZA Prize in Labor Economics, which is given to the person viewed to have made the most significant contributions to labour economics in the world. This was primarily for his work in personnel economics. In June 2006, Lazear was awarded the Jacob Mincer Prize given by the Society of Labor Economics for lifetime contributions to the field. He holds four honorary doctorates.
In addition to his former duties in Washington, Professor Lazear has been an advisor to the governments of Czechoslovakia, Romania, Russia, Ukraine, and Georgia.
Born in 1948, Professor Lazear grew up in Los Altos, California. He received his AB and AM degrees from the University of California at Los Angeles, and his PhD from Harvard University in economics.