Ricardo J. Caballero
Encyclopedia
Ricardo Jorge Caballero (born 20 October 1959) is a Chile
an macroeconomist
who holds the Ford International chair of economics at the Massachusetts Institute of Technology
. He received his PhD from MIT in 1988, and he taught at Columbia University before returning to the MIT faculty. In 2002, he was awarded the Econometric Society
's Frisch Medal
.
Recently much of Caballero's work has focussed on international financial crises. He has also studied the aggregate behavior of economies with heterogeneous agents, the macroeconomic effects of irreversible investment in firm-specific assets, and Schumpeterian
theories of technological progress through creative destruction
.
Chile
Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...
an macroeconomist
Macroeconomics
Macroeconomics is a branch of economics dealing with the performance, structure, behavior, and decision-making of the whole economy. This includes a national, regional, or global economy...
who holds the Ford International chair of economics at the Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
. He received his PhD from MIT in 1988, and he taught at Columbia University before returning to the MIT faculty. In 2002, he was awarded the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
's Frisch Medal
Frisch Medal
The Frisch Medal is an award in econometrics given by the Econometric Society. It is awarded every two years for empirical or theoretical applied research published in Econometrica during the previous five years...
.
Recently much of Caballero's work has focussed on international financial crises. He has also studied the aggregate behavior of economies with heterogeneous agents, the macroeconomic effects of irreversible investment in firm-specific assets, and Schumpeterian
Joseph Schumpeter
Joseph Alois Schumpeter was an Austrian-Hungarian-American economist and political scientist. He popularized the term "creative destruction" in economics.-Life:...
theories of technological progress through creative destruction
Creative destruction
Creative destruction is a term originally derived from Marxist economic theory which refers to the linked processes of the accumulation and annihilation of wealth under capitalism. These processes were first described in The Communist Manifesto and were expanded in Marx's Grundrisse and "Volume...
.