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Charles Plosser

Charles I. Plosser
11th President of the Federal Reserve Bank of Philadelphia
In office
August 1, 2006 – March 1, 2015
Preceded byAnthony Santomero
Succeeded byPatrick T. Harker
Personal details
Born(1948-09-19)September 19, 1948
Birmingham, Alabama, U.S.
DiedAugust 14, 2025(2025-08-14) (aged 76)
EducationVanderbilt University (BS)
University of Chicago (MBA, PhD)
Academic background
Doctoral advisorArnold Zellner
Academic work
DisciplineMacroeconomics
InstitutionsUniversity of Rochester
Notable ideasReal business-cycle theory
Website

Charles Irving Plosser (/ˈplɑːsər/; September 19, 1948 – August 14, 2025) was an American economist who was president of the Federal Reserve Bank of Philadelphia from August 1, 2006, to March 1, 2015.[1][2] An academic macroeconomist, he is well known for his work on real business cycles, a term which he and John B. Long, Jr.[3] coined. Specifically, he wrote along with Charles R. Nelson in 1982[4] an influential work entitled "Trends and Random Walks in Macroeconomic Time Series" in which they dealt with the hypothesis of permanent shocks affecting the aggregate product (GDP).

Life and career

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Plosser was born in Birmingham, Alabama, and graduated from Indian Springs School in Indian Springs, Alabama.[citation needed] He earned a bachelor of engineering degree from Vanderbilt University in 1970, and Ph.D. and M.B.A. degrees from the University of Chicago in 1976 and 1972, respectively.

Before joining the Philadelphia Fed, Plosser was the dean of the William E. Simon Graduate School of Business Administration at the University of Rochester for 12 years. He also served concurrently as the school's John M. Olin Distinguished Professor of Economics and Public Policy. Plosser was also the co-editor of the Journal of Monetary Economics for over 20 years.

Plosser died on August 14, 2025, at the age of 76.[5]

Selected bibliography

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  • Charles R. Nelson and Charles I. Plosser, September, 1982. "Trends and Random Walks in Macroeconmic [sic] Time Series: Some Evidence and Implications," Journal of Monetary Economics, 10(2), pp. 139–162. Abstract.
  • John B. Long, Jr. and Charles I. Plosser, 1983. "Real Business Cycles" Journal of Political Economy, 91(1), pp. 39-69 (press +).
  • Robert G. King and Charles I. Plosser, 1984. "Money, Credit, and Prices in a Real Business Cycle," American Economic Review, 74(3), p p. 363-380. Reprinted in Finn E. Kydland, ed., 1995. Business Cycle Theory, pp. 136-55.
  • Robert G. King, Charles I. Plosser, and Sergio T. Rebelo, 1988. "Production, Growth, and Business Cycles: I. The Basic Neoclassical Model," Journal of Monetary Economics, 21(2–3), pp. 195–232. Abstract.
  • Charles I. Plosser, 1989. "Understanding Real Business Cycles," Journal of Economic Perspectives, 3(3), pp. 51-77 (press +).
  • Charles I. Plosser (1996). Essays in Honor of Carl Christ. Elsevier.

References

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  1. ^ "Executive Leadership: Charles I. Plosser, President and Chief Executive Officer", About the Fed, Federal Reserve Bank of Philadelphia, archived from the original on December 13, 2013
  2. ^ Jonathan Spicer (March 2, 2015), "Philadelphia Fed names Patrick Harker as Plosser's successor", CNBC UPDATE, CNBC LLC, archived from the original on April 2, 2015, retrieved September 9, 2017
  3. ^ John B. Long faculty page Archived 2012-04-05 at the Wayback Machine, simon.rochester.edu webpage. Retrieved 2012-11-16.
  4. ^ Charles R. Nelson: Curriculum Vitae Archived May 12, 2013, at the Wayback Machine, econ.washington.edu webpage, October 2007. Retrieved 2012-11-16.
  5. ^ "Charles I. Plosser". Oxley Heard Funderal Directors. Retrieved August 21, 2025.
[edit]
Academic offices
Preceded by
Paul MacAvoy
 Dean of the William E. Simon Graduate School of Business Administration
Acting
1990–1991 		Succeeded by
Dean of the William E. Simon Graduate School of Business Administration
1992–2003 		Vacant
Title next held by
Mark A. Zupan
Other offices
Preceded by
Anthony Santomero
 President of the Federal Reserve Bank of Philadelphia
2006–2015 		Succeeded by