Speaker Biography
Douglas W. Elmendorf, PhD
Congressional Budget Office
Douglas W. Elmendorf is the eighth Director of CBO. His term began on January 22, 2009. Before he came to CBO, Doug Elmendorf was a senior fellow in the Economic Studies program at the Brookings Institution. As the Edward M. Bernstein Scholar, he served as coeditor of the Brookings Papers on Economic Activity and the director of the Hamilton Project, an initiative to promote broadly shared economic growth. Doug Elmendorf was previously an assistant professor at Harvard University, a principal analyst at the Congressional Budget Office, a senior economist at the White House’s Council of Economic Advisers, a deputy assistant secretary for economic policy at the Treasury Department, and an assistant director of the Division of Research and Statistics at the Federal Reserve Board. In those positions, he worked on budget policy, Social Security, Medicare, national health care reform, financial markets, macroeconomic analysis and forecasting, and other topics. He earned his Ph.D. and A.M. in economics from Harvard University, where he was a National Science Foundation graduate fellow, and his A.B. summa cum laude from Princeton University. Among Doug Elmendorf ’s publications are these: “Can Financial Innovation Help to Explain the Reduced Volatility of Economic Activity?” in the Journal of Monetary Economics (January 2006), with Karen Dynan and Daniel Sichel; “Short- Run Effects of Fiscal Policy with Forward- Looking Financial Markets,” in the National Tax Journal (September 2002), with David Reifschneider; “Fiscal Policy and Social Security Policy During the 1990s,” in American Economic Policy in the 1990s (2002), with Jeffrey Liebman and David Wilcox; “Social Security Reform and National Saving in an Era of Budget Surpluses,” in Brookings Papers on Economic Activity (Fall 2000), with Jeffrey Liebman; “Should America Save for Its Old Age? Fiscal Policy, Population Aging, and National Saving,” in the Journal of Economic Perspectives (Summer 2000), with Louise Sheiner; “Restraining the Leviathan: Property Tax Limitation in Massachusetts,” in the Journal of Public Economics (March 1999), with David Cutler and Richard Zeckhauser; “Government Debt,” in the Handbook of Macroeconomics (1999), with Greg Mankiw; and “The Deficit Gamble,” in the Journal of Money, Credit, and Banking (November 1998), with Laurence Ball and Greg Mankiw.