George M. von Furstenberg
Encyclopedia
Professor
Doctor
George M. von Furstenberg is a noted economist
, currently serving as the James H. Rudy Professor of Economics at Indiana University and best known for his work in the areas of monetary policy
, free trade
policy and international finance
.
. He emigrated to America in his late teens.
Von Furstenberg did his undergraduate work at Columbia University
, graduating in magna cum laude
in 1963. From there, he went on to a doctorate in International Finance at Princeton University
, with an internship at the Brookings Institution
as a pre-doctoral fellow. He served for a year as an assistant professor of economics at Cornell
, followed by another stint at Brookings, this time as an Economic Policy Fellow assigned to the Program Evaluation Section of the Department of Housing and Urban Development (HUD). He returned to Cornell for two years as an assistant professor, then spent a summer as a consultant to HUD, before moving to Indiana as an associate professor. Following a stint as a visiting professor at the University of Augsburg
, he became a full professor at Indiana, in 1973.
From 1973-1976 von Furstenberg served as Senior Staff Economist for the U.S. President's Council of Economic Advisors. He spent half a year as a resident economist at the American Enterprise Institute
, then resumed his teaching duties in Bloomington. In 1978, he began a five-year stint as Chief of the Financial Studies Division of the International Monetary Fund
.
In 1983, he was named Rudy Professor of Economics.
While continuing to lecture at Indiana University, von Furstenberg has also made time for brief visiting professorships Justus-Liebig University and the University of Toronto
and summer lectures at University of Szczecin
, the Warsaw University School of Management International Business Program, and Catholic University of Lublin Business School. He has been the recipient of numerous Fulbright
and other grants, and has consulted for several U.S. government agencies as well as the Deutsche Bundesbank
.
From 2000-2002, von Furstenberg was the inaugural Robert Bendheim Professor of Economic and Fiscal Policy at the Fordham Graduate School of Business
.
The professor is married and has one son. He speaks German and English fluently, has a working knowledge of French
and some knowledge of Latin and Spanish
. His wife speaks Dutch
, German
and French
.
Professor
A professor is a scholarly teacher; the precise meaning of the term varies by country. Literally, professor derives from Latin as a "person who professes" being usually an expert in arts or sciences; a teacher of high rank...
Doctor
Doctor of Philosophy
Doctor of Philosophy, abbreviated as Ph.D., PhD, D.Phil., or DPhil , in English-speaking countries, is a postgraduate academic degree awarded by universities...
George M. von Furstenberg is a noted economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
, currently serving as the James H. Rudy Professor of Economics at Indiana University and best known for his work in the areas of monetary policy
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
, free trade
Free trade
Under a free trade policy, prices emerge from supply and demand, and are the sole determinant of resource allocation. 'Free' trade differs from other forms of trade policy where the allocation of goods and services among trading countries are determined by price strategies that may differ from...
policy and international finance
International finance
International finance is the branch of economics that studies the dynamics of exchange rates, foreign investment, global financial system, and how these affect international trade. It also studies international projects, international investments and capital flows, and trade deficits. It includes...
.
Vita
Von Furstenberg was born in the middle of the Second World WarWorld War II
World War II, or the Second World War , was a global conflict lasting from 1939 to 1945, involving most of the world's nations—including all of the great powers—eventually forming two opposing military alliances: the Allies and the Axis...
. He emigrated to America in his late teens.
Von Furstenberg did his undergraduate work at Columbia University
Columbia University
Columbia University in the City of New York is a private, Ivy League university in Manhattan, New York City. Columbia is the oldest institution of higher learning in the state of New York, the fifth oldest in the United States, and one of the country's nine Colonial Colleges founded before the...
, graduating in magna cum laude
Latin honors
Latin honors are Latin phrases used to indicate the level of academic distinction with which an academic degree was earned. This system is primarily used in the United States, Canada, and in many countries of continental Europe, though some institutions also use the English translation of these...
in 1963. From there, he went on to a doctorate in International Finance at Princeton University
Princeton University
Princeton University is a private research university located in Princeton, New Jersey, United States. The school is one of the eight universities of the Ivy League, and is one of the nine Colonial Colleges founded before the American Revolution....
, with an internship at the Brookings Institution
Brookings Institution
The Brookings Institution is a nonprofit public policy organization based in Washington, D.C., in the United States. One of Washington's oldest think tanks, Brookings conducts research and education in the social sciences, primarily in economics, metropolitan policy, governance, foreign policy, and...
as a pre-doctoral fellow. He served for a year as an assistant professor of economics at Cornell
Cornell University
Cornell University is an Ivy League university located in Ithaca, New York, United States. It is a private land-grant university, receiving annual funding from the State of New York for certain educational missions...
, followed by another stint at Brookings, this time as an Economic Policy Fellow assigned to the Program Evaluation Section of the Department of Housing and Urban Development (HUD). He returned to Cornell for two years as an assistant professor, then spent a summer as a consultant to HUD, before moving to Indiana as an associate professor. Following a stint as a visiting professor at the University of Augsburg
University of Augsburg
The University of Augsburg is a university located in the Universitätsviertel section of Augsburg, Germany. It was founded in 1970 and is organized in 7 Faculties....
, he became a full professor at Indiana, in 1973.
From 1973-1976 von Furstenberg served as Senior Staff Economist for the U.S. President's Council of Economic Advisors. He spent half a year as a resident economist at the American Enterprise Institute
American Enterprise Institute
The American Enterprise Institute for Public Policy Research is a conservative think tank founded in 1943. Its stated mission is "to defend the principles and improve the institutions of American freedom and democratic capitalism—limited government, private enterprise, individual liberty and...
, then resumed his teaching duties in Bloomington. In 1978, he began a five-year stint as Chief of the Financial Studies Division of the International Monetary Fund
International Monetary Fund
The International Monetary Fund is an organization of 187 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world...
.
In 1983, he was named Rudy Professor of Economics.
While continuing to lecture at Indiana University, von Furstenberg has also made time for brief visiting professorships Justus-Liebig University and the University of Toronto
University of Toronto
The University of Toronto is a public research university in Toronto, Ontario, Canada, situated on the grounds that surround Queen's Park. It was founded by royal charter in 1827 as King's College, the first institution of higher learning in Upper Canada...
and summer lectures at University of Szczecin
University of Szczecin
The University of Szczecin is a public university in Szczecin, western Poland. It is the biggest university in West Pomerania, with 33,267 students and a staff of nearly 1,200...
, the Warsaw University School of Management International Business Program, and Catholic University of Lublin Business School. He has been the recipient of numerous Fulbright
Fulbright Program
The Fulbright Program, including the Fulbright-Hays Program, is a program of competitive, merit-based grants for international educational exchange for students, scholars, teachers, professionals, scientists and artists, founded by United States Senator J. William Fulbright in 1946. Under the...
and other grants, and has consulted for several U.S. government agencies as well as the Deutsche Bundesbank
Deutsche Bundesbank
The Deutsche Bundesbank is the central bank of the Federal Republic of Germany and as such part of the European System of Central Banks . Due to its strength and former size, the Bundesbank is the most influential member of the ESCB. Both the Deutsche Bundesbank and the European Central Bank are...
.
From 2000-2002, von Furstenberg was the inaugural Robert Bendheim Professor of Economic and Fiscal Policy at the Fordham Graduate School of Business
Fordham Graduate School of Business
The Fordham Graduate School of Business Administration is a business school within Fordham University in the United States. It is a graduate school focused on business administration, and should not be confused with the University's undergraduate Gabelli School of Business...
.
The professor is married and has one son. He speaks German and English fluently, has a working knowledge of French
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
and some knowledge of Latin and Spanish
Spanish language
Spanish , also known as Castilian , is a Romance language in the Ibero-Romance group that evolved from several languages and dialects in central-northern Iberia around the 9th century and gradually spread with the expansion of the Kingdom of Castile into central and southern Iberia during the...
. His wife speaks Dutch
Dutch language
Dutch is a West Germanic language and the native language of the majority of the population of the Netherlands, Belgium, and Suriname, the three member states of the Dutch Language Union. Most speakers live in the European Union, where it is a first language for about 23 million and a second...
, German
German language
German is a West Germanic language, related to and classified alongside English and Dutch. With an estimated 90 – 98 million native speakers, German is one of the world's major languages and is the most widely-spoken first language in the European Union....
and French
French language
French is a Romance language spoken as a first language in France, the Romandy region in Switzerland, Wallonia and Brussels in Belgium, Monaco, the regions of Quebec and Acadia in Canada, and by various communities elsewhere. Second-language speakers of French are distributed throughout many parts...
.
Working papers
- George M. von Furstenberg & B. Hofer, 1997. "Financial Integration in North America and in Europe Among Neighboring Countries at Different Stages of Development," Papers 25, American Institute for Contemporary German Studies.
- Burton G. Malkiel & George M. von Furstenberg & Harry S. Watson, 1980. "Expectations, Tobins q, and Industry Investment," NBER Reprints 0054, National Bureau of Economic Research, Inc.
Articles
- George M. von Furstenberg & Carlos B. Tabora, 2004. "Bolsa or NYSE: price discovery for Mexican shares," Journal of International Financial Markets, Institutions and Money, Elsevier, vol. 14(4), pp. 295–311.
- George M. von Furstenberg & Jianjun Wei, 2002. "The Chinese crux of monetary union in East Asia," Paper to be delivered at a G8 Research Group Conference Calgary, June 22, 2002.
- George M. von Furstenberg 2001. "Hopes and delusions of transparency1," The North American Journal of Economics and Finance, Elsevier, vol. 12(1), pp. 105–120.
- George M. von Furstenberg, 2001. "Pressures for currency consolidation in insurance and finance: Are the currencies of financially small countries on the endangered list?," Journal of Policy Modeling, Elsevier, vol. 23(3), pp. 321–331.
- George M. von Furstenberg, 2000. "Implications of changes in transparency in civilian and military spheres," Paper prepared for the symposium, The Kyushu-Okinawa Summit: The Challenges and Opportunities for the Developing World in the 21st Century, Tokyo, Japan, July 17, 2000.
- Alexander, Volbert & George M. von Furstenberg, 2000. "Monetary unions--a superior alternative to full dollarization in the long run," The North American Journal of Economics and Finance, Elsevier, vol. 11(2), pp. 205–225.
- "A Case Against U.S. Dollarization," Challenge: The Magazine of Economic Affairs, July/August 2000, pp. 108–121.
- George M. von Furstenberg, 1998. "Price Stability: How Canada's Governor Crow Approached It," Journal of Policy Modeling, Elsevier, vol. 20(3), pp. 335–360
- von Furstenberg, George M. & Fratianni, Michele, 1996. "Indicators of financial development," The North American Journal of Economics and Finance, Elsevier, vol. 7(1), pages 19–29. [Downloadable!]
- George M. von Furstenberg & Joseph P. Daniels, 1992. "Can you trust G-7 promises?," International Economic Insights 3 September/October 1992, pp. 24–27.
Books
- Learning from the World's Best Central Bankers: Principles and Policies for Subduing Inflation, George M. von Furstenberg and Michael K. Ulan. Dordrecht NL: Kluwer Academic Publishers, 1998. With Foreword by Burton G. Malkiel. ISBN 0-7923-8303-6
- Monetary Unions and Hard Pegs: Effects on Trade, Financial Development, and Stability, V. Alexander, J. Mélitz, and G. M. von Furstenberg, eds., Oxford University Press, 2004. Foreword by Robert A. Mundell. ISBN 0-19-927140-2