Phillip D Cagan

Picture of Phillip D Cagan

Date of Birth: 1927

Age: 88

Place of Birth: Seattle

Citizenship: United States


Phillip D. Kagan was born in 1927 in Seattle, Washington (Washington, Cagan), and soon after moved with his family to Southern California (Southern California). At 17-years old Kagan joined the US Navy and participated in World War II. After the war, Philip decided to go to college, and received a bachelor`s degree from the University of California at Los Angeles (UCLA) in 1948. In 1951, he earned a master`s degree in humanitarian fields of knowledge, and in 1954 - Doctor of Philosophy (Economics) at the University of Chicago (University of Chicago).

After graduate school Kagan joined the National Bureau of Economic Research (NBER), New York (New York), where he worked 2 years. Then he returned to the world of university research, teaching at the University of Chicago for 3 years and has dedicated Brown University (Brown University) 7 years. In 1966, Kagan was hired by Columbia University, where he taught economics for nearly 30 years, except for 15 months in Washington, DC (Washington, DC), where he was in the state of the Council of Economic Advisers (CEA).

During his tenure at Columbia University Phillip he has also been linked to the American Enterprise Institute (AEI) in Washington, DC, in writing, referring to questions of public policy.

His work has focused on monetary policy and control inflation. Kagan has published more than 100 books, journal articles, reviews, reports and pamphlets on this or other topics in macroeconomics. Perhaps she known his work - this is the book `The determinants and consequences of changes in the money supply, 1875-1960` (` Determinants and Effects of Changes in the Stock of Money, 1875-1960`), allowing to identify the `causal relationship between changes in money, prices and release izdeliy`. This work has received high marks for `thorough empirical rabotu` and was named `the most comprehensive study in this oblasti`.

However, the most valuable contribution to the economy made by Phillip article, including their work edited by Milton Friedman (Milton Friedman) `Research in deneg` quantitative theory (` Studies in the Quantity Theory of Money`, 1956), released under the name `Currency dynamic hyperinflation `(` The Monetary Dynamics of Hyperinflation`). This work has become a classic in its genre.

After the publication of works Kagan number of leading macroeconomists either revised or expanded its conclusions. Also today, economists often refer to `money demand function Kagana` when it comes to modeling the real value of money.

Phillip was elected Fellow of the Econometric Society (International Union of Economists), and was listed as a possible candidate for the Nobel Prize in economics.

Phillip D. Kagan lives in Palo Alto, California (Palo Alto, California).