Print Overview

Jonathan A. Parker holds the Donald C. Clark/HSBC Chaired Professorship in Consumer Finance at the Kellogg School of Management at Northwestern University and is a Faculty Research Fellow at the National Bureau of Economic Research (NBER).  Dr. Parker received his Ph.D. in economics from the Massachusetts Institute of Technology where he was awarded the Robert Solow Endowment Prize for excellence in research and teaching. Prior to his present position at Northwestern, Dr. Parker has held faculty positions at the Princeton University department of economics, where he was affiliated with the Bendheim Center for Finance and the Woodrow Wilson School of Public and International Affairs, at the department of economics at the University of Wisconsin, where he was the Maude P. and Milton J. Shoemaker Fellow, and at the University of Michigan Business School, where he was a Society of Scholars Fellow.  Professor Parker has been named an Alfred P. Sloan research fellow and a National Bureau of Economics Aging and Health Economics Fellow, and his research has received support from the National Science Foundation and the Sloan Foundation.   

Professor Parker currently serves on the Academic Advisory Panel of the Federal Reserve Bank of Chicago, the Board of Editors of the
 American Economic Review, the American Economic Association’s Committee on Economic Statistics, and edits the NBER Macroeconomics Annual.  During 2009, he worked as a Special Adviser on Financial Stability for the Office of Financial Stability in the U.S. Department of the Treasury.

Professor Parker teaches macroeconomics and finance, and his research focuses on: macroeconomic risks and stock returns, fiscal stabilization policy, national saving, the exposure of income and consumption to economic fluctuations, and psychology and economics.


Print Vita
PhD, 1996, Massachusetts Institute of Technology
BA, 1988, Economics, Mathematics, Yale University

Academic Positions
Professor of Finance, Kellogg School of Management, Northwestern University, 2007-present
Associate Professor of Economics and Public Affairs, Woodrow Wilson School of Public and International Affairs and Bendheim Center for Finance, Princeton University, 2006-2007
Assistant Professor of Economics and Public Affairs, Woodrow Wilson School of Public and International Affairs, Princeton University, 1999-2006
Assistant Professor, University of Wisconsin Madison, 1997-1999
Visiting Assistant Professor and Research Fellow, Stephen M. Ross School of Business, University of Michigan, 1996-1997

Other Professional Experience
Research Associate, National Bureau of Economic Research, 2006-present
Visiting Scholar, Cowles Foundation, Yale University, 2012-2012
Special Adviser on Financial Stability, U.S. Department of Treasury, 2009-2009
Visiting Scholar, Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis, 2002-2002
Visiting Scholar, Institute for Empirical Macroeconomics, Federal Reserve Bank of Minneapolis, 2002-2002

Grants and Awards
Preliminary Estimates of the Impact of the 2008 Economic Stimulus Payments on Consumption Demand, The Board of Governors of the Federal Reserve System, May 2010
Smith Richardson Foundation Grant, Smith Richardson Foundation, 2008 - 2010
National Science Foundation Research Grant, National Science Foundation, 1999 - 2003
Research Grant, Office of Tax Policy Research, Ross School of Business, University of Michigan, Office of Tax Policy Research, Ross School of Business, University of Michigan, 1996
Robert Solow Endowment Prize, MIT Department of Economics, MIT Department of Economics, 1996
Alfred P. Sloan Research Fellow, 2001-2005

Editorial Positions
Board of Editors, American Economic Review (formerly American Journal of Macroeconomics), 2011-present
Editor, NBER Macroeconomics Annual, 2011-present
Associate Editor, Journal of Money Credit and Banking, 2001-present
Board of Editors, American Economic Journal of Macroeconomics, 2007-2011

American Economic Association, Committee on Economic Statistics
Federal Reserve Bank of Chicago, Academic Advisory Council

Conference Presentations
American Economic Association Annual Meetings, Denver, CO, "Improving the Measurement of Household-Level Spending and Income" (with Orazio Attanasio, Christopher Carroll, Thomas Crossley, and John Sabelhaus) January 2011
NBER Initiative: Systemic Risk and Macro Modeling, "Measuring Systemic Risks in the Household Sector" April 2011
NBER Summer Institute, "The Economic Stimulus Payments of 2008 and the Aggregate Demand for Consumption" July 2011
Yale University, University of Texas at Austin, Stanford University, North American Winter Meetings of the Econometric Society, "Valuation, Adverse Selection, and Market Collapses" Jan. 2011-April 2012
Boston University, Columbia University, Society for Economic Dynamics Annual Meeting (Ghent, Belgium), University of California at Berkeley, Stanford University, "Consumer Spending and the Economic Stimulus Payments of 2008" February 2011-March 2012

Consultant, Federal Reserve Bank of Chicago, 2008 - present
Long-Term Modelling Advisory Group, Congressional Budget Office, 2002-2004  
Print Research
Research Interests
Asset pricing, macroeconomics, behavioral economics, public economics