Ricardo Reis is an economist from Portugal. He is particularly known for being one of the youngest faculty members to reach full professor status in the history of Columbia University.
Reis was born on 1 September, 1978, in Porto, Portugal. He first completed his B.Sc degree from the London School of Economics, from where he graduated in 1999. After completing his Bachelor’s, Reis got enrolled in Harvard University to obtain his Doctor of Philosophy, a feat he realized in 2004. After completing his education, Reis entered the teaching profession and managed to instruct at a number of universities, the most notable one being Princeton University. He has also managed to teach at other institutes in a visiting capacity, including Stanford, the University of Chicago, and Yale. Reis currently teaches at Columbia University, where he managed to become full professor at a tender age of 29. He thus became one of the youngest professors in the history of the University.
Reis is a specialist in the realm of macroeconomics, with keen expertise in both its theoretical and applied aspects. Much of the work he has done over the years has involved the models and theories of inattention, inflation measurement tools, the dynamics of price indices, as well as the workings of monetary and fiscal policy. He has however found most success in elucidating on matters regarding rational inattention and sticky information. According to Reis’ theories, the root cause of the delayed mechanism which characterizes slow macroeconomic reactions to changes in policies etc. is the slow transfer of information across the public. This causes a trade-off between inflation and real output on the Phillips Curve. Reis has also provided further insights on inflation, including its static tendency and measures of pure inflation.
More recently, Reis has been studying the significance of fiscal automatic stabilizers and how they function during recessions in the United States. He has also delved in to the Central Bank’s inclinations towards untypical policy measures given its economic power and status, as well as its tendency to seek injections into the economy to enhance its liquidity during crisis situations. One of his most recent works identified that government s across the world were focusing on increasing social transfers rather than federal purchases in an attempt to boost the socioeconomic status of its people.
Reis other research topics include price indices as useful targets for policies and as good indicators for the existing state of welfare. He has also delved in to issues concerning the common man’s propensity to devote minimal attention towards the amount of information available to him, and how that goes on to affect his consumption choices and spending decisions. Reis has also devoted considerable time and effort towards understanding business cycles, volume trade in financial markets, and International economics.
Ricardo Reis resume boast Research Associate and Research Affiliate Positions at the NBER and the Centre for Economic Policy Research respectively. He has also demonstrated competence in journalism, as he currently sits as co-editor of the Journal of Monetary Economics, and also constitutes the Board of Editors of the American Economic Review and the Journal of Economic Literature. Moreover, Reis is also the associate editor of the Economic Journal and the Journal of Money, Credit and Banking. For his ever so influential presence, he ranks second in the list of the most frequently cited young economists in the world.