Prestigious Group of 192 Economists - Including Nobel Prize Winners - Slams Bailout

George Washington's Blog
Friday, Sept 26, 2008

The following group of prominent economists, including numerous Nobel Prize winners, has written a letter slamming the bailout proposal:

* Acemoglu Daron (Massachusetts Institute of Technology)

* Adler Michael (Columbia University)

* Admati Anat R. (Stanford University)

* Alexis Marcus (Northwestern University)

* Alvarez Fernando (University of Chicago)

* Andersen Torben (Northwestern University)

* Baliga Sandeep (Northwestern University)

* Banerjee Abhijit V. (Massachusetts Institute of Technology)

* Barankay Iwan (University of Pennsylvania)

* Barry Brian (University of Chicago)

* Bartkus James R. (Xavier University of Louisiana)

* Becker Charles M. (Duke University)

* Becker Robert A. (Indiana University)

* Beim David (Columbia University)

* Berk Jonathan (Stanford University)

* Bisin Alberto (New York University)

* Bittlingmayer George (University of Kansas)

* Boldrin Michele (Washington University)

* Brooks Taggert J. (University of Wisconsin)

* Brynjolfsson Erik (Massachusetts Institute of Technology)

* Buera Francisco J. (UCLA)

* Camp Mary Elizabeth (Indiana University)

* Carmel Jonathan (University of Michigan)

* Carroll Christopher (Johns Hopkins University)

* Cassar Gavin (University of Pennsylvania)

* Chaney Thomas (University of Chicago)

* Chari Varadarajan V. (University of Minnesota)

* Chauvin Keith W. (University of Kansas)

* Chintagunta Pradeep K. (University of Chicago)

* Christiano Lawrence J. (Northwestern University)

* Cochrane John (University of Chicago)

* Coleman John (Duke University)

* Constantinides George M. (University of Chicago)

* Crain Robert (UC Berkeley)

* Culp Christopher (University of Chicago)

* Da Zhi (University of Notre Dame)

* Davis Morris (University of Wisconsin)

* De Marzo Peter (Stanford University)

* Dubé Jean-Pierre H. (University of Chicago)

* Edlin Aaron (UC Berkeley)

* Eichenbaum Martin (Northwestern University)

* Ely Jeffrey (Northwestern University)

* Eraslan Hülya K. K.(Johns Hopkins University)

* Faulhaber Gerald (University of Pennsylvania)

* Feldmann Sven (University of Melbourne)

* Fernandez-Villaverde Jesus (University of Pennsylvania)

* Fohlin Caroline (Johns Hopkins University)

* Fox Jeremy T. (University of Chicago)

* Frank Murray Z.(University of Minnesota)

* Frenzen Jonathan (University of Chicago)

* Fuchs William (University of Chicago)

* Fudenberg Drew (Harvard University)

* Gabaix Xavier (New York University)

* Gao Paul (Notre Dame University)

* Garicano Luis (University of Chicago)

* Gerakos Joseph J. (University of Chicago)

* Gibbs Michael (University of Chicago)

* Glomm Gerhard (Indiana University)

* Goettler Ron (University of Chicago)

* Goldin Claudia (Harvard University)

* Gordon Robert J. (Northwestern University)

* Greenstone Michael (Massachusetts Institute of Technology)

* Guadalupe Maria (Columbia University)

* Guerrieri Veronica (University of Chicago)

* Hagerty Kathleen (Northwestern University)

* Hamada Robert S. (University of Chicago)

* Hansen Lars (University of Chicago)

* Harris Milton (University of Chicago)

* Hart Oliver (Harvard University)

* Hazlett Thomas W. (George Mason University)

* Heaton John (University of Chicago)

* Heckman James (University of Chicago - Nobel Laureate)

* Henderson David R. (Hoover Institution)

* Henisz, Witold (University of Pennsylvania)

* Hertzberg Andrew (Columbia University)

* Hite Gailen (Columbia University)

* Hitsch Günter J. (University of Chicago)

* Hodrick Robert J. (Columbia University)

* Hopenhayn Hugo (UCLA)

* Hurst Erik (University of Chicago)

* Imrohoroglu Ayse (University of Southern California)

* Isakson Hans (University of Northern Iowa)

* Israel Ronen (London Business School)

* Jaffee Dwight M. (UC Berkeley)

* Jagannathan Ravi (Northwestern University)

* Jenter Dirk (Stanford University)

* Jones Charles M. (Columbia Business School)

* Kaboski Joseph P. (Ohio State University)

* Kahn Matthew (UCLA)

* Kaplan Ethan (Stockholm University)

* Karolyi, Andrew (Ohio State University)

* Kashyap Anil (University of Chicago)

* Keim Donald B (University of Pennsylvania)

* Ketkar Suhas L (Vanderbilt University)

* Kiesling Lynne (Northwestern University)

* Klenow Pete (Stanford University)

* Koch Paul (University of Kansas)

* Kocherlakota Narayana (University of Minnesota)

* Koijen Ralph S.J. (University of Chicago)

* Kondo Jiro (Northwestern University)

* Korteweg Arthur (Stanford University)

* Kortum Samuel (University of Chicago)

* Krueger Dirk (University of Pennsylvania)

* Ledesma Patricia (Northwestern University)

* Lee Lung-fei (Ohio State University)

* Leeper Eric M. (Indiana University)

* Leuz Christian (University of Chicago)

* Levine David I.(UC Berkeley)

* Levine David K.(Washington University)

* Levy David M. (George Mason University)

* Linnainmaa Juhani (University of Chicago)

* Lott John R. Jr. (University of Maryland)

* Lucas Robert (University of Chicago - Nobel Laureate)

* Luttmer Erzo G.J. (University of Minnesota)

* Manski Charles F. (Northwestern University)

* Martin Ian (Stanford University)

* Mayer Christopher (Columbia University)

* Mazzeo Michael (Northwestern University)

* McDonald Robert (Northwestern University)

* Meadow Scott F. (University of Chicago)

* Mehra Rajnish (UC Santa Barbara)

* Mian Atif (University of Chicago)

* Middlebrook Art (University of Chicago)

* Miguel Edward (UC Berkeley)

* Miravete Eugenio J. (University of Texas at Austin)

* Miron Jeffrey (Harvard University)

* Moretti Enrico (UC Berkeley)

* Moriguchi Chiaki (Northwestern University)

* Moro Andrea (Vanderbilt University)

* Morse Adair (University of Chicago)

* Mortensen Dale T. (Northwestern University)

* Mortimer Julie Holland (Harvard University)

* Muralidharan Karthik (UC San Diego)

* Nanda Dhananjay (University of Miami)

* Nevo Aviv (Northwestern University)

* Ohanian Lee (UCLA)

* Pagliari Joseph (University of Chicago)

* Papanikolaou Dimitris (Northwestern University)

* Parker Jonathan (Northwestern University)

* Paul Evans (Ohio State University)

* Pejovich Svetozar (Texas A&M University)

* Peltzman Sam (University of Chicago)

* Perri Fabrizio (University of Minnesota)

* Phelan Christopher (University of Minnesota)

* Piazzesi Monika (Stanford University)

* Piskorski Tomasz (Columbia University)

* Rampini Adriano (Duke University)

* Reagan Patricia (Ohio State University)

* Reich Michael (UC Berkeley)

* Reuben Ernesto (Northwestern University)

* Roberts Michael (University of Pennsylvania)

* Robinson David (Duke University)

* Rogers Michele (Northwestern University)

* Rotella Elyce (Indiana University)

* Ruud Paul (Vassar College)

* Safford Sean (University of Chicago)

* Sandbu Martin E. (University of Pennsylvania)

* Sapienza Paola (Northwestern University)

* Savor Pavel (University of Pennsylvania)

* Scharfstein David (Harvard University)

* Seim Katja (University of Pennsylvania)

* Seru Amit (University of Chicago)

* Shang-Jin Wei (Columbia University)

* Shimer Robert (University of Chicago)

* Shore Stephen H. (Johns Hopkins University)

* Siegel Ron (Northwestern University)

* Smith David C. (University of Virginia)

* Smith Vernon L.(Chapman University- Nobel Laureate)

* Sorensen Morten (Columbia University)

* Spiegel Matthew (Yale University)

* Stevenson Betsey (University of Pennsylvania)

* Stokey Nancy (University of Chicago)

* Strahan Philip (Boston College)

* Strebulaev Ilya (Stanford University)

* Sufi Amir (University of Chicago)

* Tabarrok Alex (George Mason University)

* Taylor Alan M. (UC Davis)

* Thompson Tim (Northwestern University)

* Tschoegl Adrian E. (University of Pennsylvania)

* Uhlig Harald (University of Chicago)

* Ulrich, Maxim (Columbia University)

* Van Buskirk Andrew (University of Chicago)

* Veronesi Pietro (University of Chicago)

* Vissing-Jorgensen Annette (Northwestern University)

* Wacziarg Romain (UCLA)

* Weill Pierre-Olivier (UCLA)

* Williamson Samuel H. (Miami University)

* Witte Mark (Northwestern University)

* Wolfers Justin (University of Pennsylvania)

* Woutersen Tiemen (Johns Hopkins University)

* Zingales Luigi (University of Chicago)

* Zitzewitz Eric (Dartmouth College)

Here's the letter.

They are not alone. See this, this, this, this, this, this and this.