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Steve Hanke

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Steve H. Hanke
Economist Steve hanke
Born (1942-12-29) December 29, 1942 (age 81)
Macon, Georgia, United States
NationalityAmerican
Academic career
FieldMonetary economics
Natural resource economics
Financial economics
International economics
InstitutionColorado School of Mines
University of California, Berkeley
Johns Hopkins University
School or
tradition		Free-market economics
Alma materUniversity of Colorado Boulder
InfluencesFriedrich Hayek
Milton Friedman
Robert Mundell
Kenneth Boulding
Peter Thomas Bauer
Ronald Coase
ContributionsCurrency board Research
Dollarization Research
Hyperinflation Research
Hanke-Henry Permanent Calendar

Steve H. Hanke (/ˈhæŋki/) is an American Economist and Economics professor focusing in applied economics, especially monetary policy.

Raised in Iowa, he holds a doctoral degree from the University of Colorado at Boulder. Earlier in his teaching career, he taught economics at the Colorado School of Mines and the University of California, Berkeley. As of 2012, he is a professor of applied economics at Johns Hopkins University, where he had first worked in 1969.

In 1995 and '96 he served as an adviser to Domingo Cavallo,[1] the Minister of Economy of Argentina . He has also held formal economic-advisory positions [2] with Uruguay and four countries in eastern Europe, especially Bulgaria where the Lev is pegged successfully to the euro through a Currency board. In 1997 he began writing his "Point Of View" columns for Forbes magazine. In 1998 he became special counselor to the Economic and Monetary Resilience Council of Indonesia, and continues in that role as of 2005.

Hanke's appointments include:

Academic career

Hanke earned a B.S. in Business Administration (1964) and a Ph.D. in Economics (1969) from the University of Colorado. His first academic appointment was at the Colorado School of Mines in 1966, when he was 23. During this time, Hanke developed and taught courses in mineral and petroleum economics, while completing his Ph.D. dissertation on the effects of meter installation on municipal water demand.[9]

Hanke then joined the faculty of the Johns Hopkins University, where he initially specialized in water resource economics. After six years at Johns Hopkins, including a one-year visiting professorship at the University of California, Berkeley, Hanke attained the rank of Full Professor,[10] one of the fastest promotions to that rank in the school’s history.[11]

Over the course of his career, Hanke has held editorial positions with a number of academic journals, including the Journal of Economic Policy Reform, Water Resources Research, Land Economics, and Water Engineering and Management. He currently holds editorial positions with The International Economy, The Independent Review, Cato Journal, Review of Austrian Economics, Economic Journal Watch, and Central Banking.[12]

In 1995, Hanke and Johns Hopkins University History Professor Louis Galambos founded the Johns Hopkins Institute for Applied Economics, Global Health and Study of Business Enterprise.[13] Hanke is also a Senior Fellow and Director of the Troubled Currencies Project at the Cato Institute,[14][15] a Special Counselor to the Center for Financial Stability,[16] and a member of the Charter Council of the Society of Economic Measurement.[17]

Hanke is a Senior Advisor at Renmin University’s International Monetary Research Institute, along with Ronald McKinnon of Stanford and Nobel laureate Robert Mundell of Columbia.[18]

Criticism

In the past, Hanke has come under fire for his advocacy of currency board systems, particularly from local government officials in countries where he has worked as an adviser, as well as from rival economists.

For example, Former Bulgarian Minister Krasimir Angarski who was tasked with the introduction of the currency board has contested the often repeated claim that Hanke is the "father of the Bulgarian currency board"[19] and has added that Hanke had no knowledge of the Currency Board law because Angarski refused to provide him the manuscript he was working on.[20] However, Angarski's claim is contradicted by the fact that Hanke first proposed a currency board for Bulgaria in 1991, with his book "Teeth for the Bulgarian Lev: A Currency Board Solution."[21] Hanke later helped bring about its adoption in 1997, when he served as an adviser to President Petar Stoyanov.[22] Hanke's work on the Bulgarian currency board has also been praised by current Bulgarian Prime Minister, Plamen Oresharski,[23] as well as by the Bulgarian Academy of Sciences, which in 2013 awarded Hanke the title "Doctor Honoris Causa," in recognition of his currency reform efforts in Bulgaria.[24]

In the article "Rupiah Rasputin"[25] written in 1998 for Fortune, Paul Krugman presented Hanke as a "a self-promoter whose image as a successful country doctor has been pumped up by resume inflation." and accused him of fraudulently claiming that he is an adviser to former Argentine Finance Minister Domingo Cavallo: "Cavallo himself tells a different story, though. He claims Hanke first became involved three years after the board was established, when he volunteered his services as a publicist. ". Krugman additionally claimed that creating a currency board in Indonesia "was probably a bad idea right now", because it would interfere with payments for imports or debt service.

Partial bibliography

See also

References

  1. ^ http://www.jhu.edu/iaesbe/hankeCVnew.pdf
  2. ^ http://www.jhu.edu/iaesbe/hankeCVnew.pdf
  3. ^ http://folio.jhu.edu/faculty/Steve%20H._Hanke
  4. ^ http://www.cato.org/people/steve-hanke
  5. ^ http://www.cato.org/research/troubled-currencies-project
  6. ^ http://www.weforum.org/global-agenda-councils/steve-h-hanke
  7. ^ http://www.scribd.com/doc/148606706/Steve-Hanke-CV
  8. ^ http://www.amg-nv.com/About-Us/Supervisory-Board/default.aspx
  9. ^ http://www.cato.org/publications/commentary/american-waterworks-association-interview-prof-steve-hanke
  10. ^ http://folio.jhu.edu/faculty/Steve%20H._Hanke
  11. ^ http://www.jhu.edu/jhumag/0997web/tenure.html
  12. ^ http://www.scribd.com/doc/148606706/Steve-Hanke-CV
  13. ^ http://krieger.jhu.edu/iae/co-directors/index.html
  14. ^ http://www.cato.org/people/steve-hanke
  15. ^ http://www.cato.org/research/troubled-currencies-project
  16. ^ http://www.centerforfinancialstability.org/SHanke.php
  17. ^ http://sem.society.cmu.edu/officers.html
  18. ^ http://sf.ruc.edu.cn/en/News-Events/5219.html
  19. ^ http://www.novinite.com/view_news.php?id=144715
  20. ^ http://www.bulnao.government.bg/files/_bg/Banker_160612.doc
  21. ^ http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2258005
  22. ^ http://www.novinite.com/articles/146499/Steve+Hanke%3A+Fiscal+Discipline+Prize+Should+Go+to+Bulgaria
  23. ^ http://centerforfinancialstability.org/wp/?p=2723
  24. ^ http://www.bas.bg/cgi-bin/e-cms/vis/vis.pl?s=001&p=0288&n=000500&g
  25. ^ http://money.cnn.com/magazines/fortune/fortune_archive/1998/04/13/240868/
  • Bio Page at the Johns Hopkins University Institute for Applied Economics and the Study of Business Enterprise (Contains links to a full Publications List and CV)
  • Cato Institute expert page
  • Archive of columns at Forbes Magazine
  • Article on Steve Hanke in Johns Hopkins Magazine, September 1999
  • Roberts, Russ (October 29, 2012). "Hanke on Hyperinflation, Monetary Policy, and Debt". EconTalk. Library of Economics and Liberty.

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