Michael R. Darby

Michael R. Darby currently serves as the Warren C. Cordner Distinguished Professor of Money and Financial Markets in the John E. Anderson Graduate School of Management and in the Departments of Economics and Public Policy at the University of California, Los Angeles, and as Director of the John M. Olin Center for Policy in the Anderson School. Concurrently, he holds appointments as Research Associate with the National Bureau of Economic Research, Fellow of the California Council on Science and Technology, and Associate Director of the UCLA School of Public Affairs's Center for International Science, Technology, and Cultural Policy.

From July 1986 through January 1992, Dr. Darby served in a number of senior positions in the Reagan and Bush administrations including Assistant Secretary of the Treasury for Economic Policy (1986-89), Member of the National Commission on Superconductivity (1988-89), Under Secretary of Commerce for Economic Affairs (1989-92), and Administrator of the Economics and Statistics Administration (1990-92). Dr. Darby has received many honors including the Alexander Hamilton Award, the Treasury's highest honor, in 1989.

Michael Darby's research ranges over the fields of macroeconomics; international finance; science, technology, and productivity; and industrial organization. His discoveries include the "Darby effect" of income taxation on the interest-rate inflation premium, credence goods, and 3½ million uncounted employees during the Depression. Darby is the widely-cited author of eleven books and monographs and over one hundred other professional publications. He was Editor of the Journal of International Money and Finance (1980-1986) and continues to serve on the editorial board of that and numerous other journals. Darby was President of the Western Economic Association International during 2000-2001.

Professor Darby received his A.B. summa cum laude from Dartmouth College in 1967 and his M.A. and Ph.D. from the University of Chicago in 1968 and 1970. He spent two years as an assistant professor of economics at the Ohio State University before moving to the UCLA Economics Department in 1972. He became an associate professor in 1973 and professor in 1978.