Release Date: September 10, 2008
BUFFALO, N.Y. -- Renowned University at Buffalo economist Isaac Ehrlich has been named to Governor David A. Paterson's newly convened Council of Economic Advisors.
Ehrlich is a SUNY and UB Distinguished Professor of Economics, chair of the Economics Department in the UB College of Arts and Sciences and Melvin H. Baker Professor of American Enterprise in the UB School of Management.
The 18-member council also includes Robert Rubin, former United States Secretary of the Treasury and current chairman of the Executive Committee of Citigroup, Roger Altman, former United States Deputy Treasury Secretary and current chairman and CEO of Evercore Partners, and Joseph Stiglitz, 2001 Nobel Prize winner.
The council already has begun meeting to review the current New York state budget and provide Governor Paterson with additional recommendations to address the current fiscal crisis.
"In this difficult fiscal climate, I am grateful that so many of our nation's most gifted and renowned economists have agreed to serve on our Council of Economic Advisors," said Governor Paterson.
"The men and women who have joined our council are seasoned experts from around the state and across the nation. Facing deteriorating economic times and declining revenues now, more than ever, we need creative ideas and solutions. I can think of no better collective group to help steer us back to fiscal health, and I look forward to hearing their recommendations."
UB Provost Satish K. Tripathi said Ehrlich's service on the governor's panel demonstrates how the expertise and research of UB's leading faculty are an important and strategic resource for New York state.
"SUNY Distinguished Professor Ehrlich's selection to the panel speaks very highly of his reputation and accomplishments as one of the leading academic economists in the country," Tripathi noted.
Ehrlich attended the panel's first meeting on August 18 and said he was very impressed with governor's interactions with panel.
"The governor is truly interested in the panel's thoughts on how to best utilize the fiscal tools available to the state to solve the short-term challenge without harming long-term prospects for economic growth and improved welfare," he explained. "I am looking forward to the next meetings of the panel where these issues would be further discussed."
Ehrlich directs UB's Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development. The center is funded by the New York State Office of Science, Technology and Academic Research and through a recent contract awarded the Center by New York State's Comptroller, Thomas P. DiNapoli, to provide annual forecasts of State tax revenue. The center focuses on the dynamic role of human capital in improving market efficiency and achieving persistent, long-term productivity growth at the firm, industry, region and economy-wide levels. The center also is researching issues and challenges facing corporations in the Western and upstate New York economies. For more information about the center, go to http://www.head.buffalo.edu.
The University at Buffalo is a premier research-intensive public university, a flagship institution in the State University of New York system that is its largest and most comprehensive campus. UB's more than 28,000 students pursue their academic interests through more than 300 undergraduate, graduate and professional degree programs. Founded in 1846, the University at Buffalo is a member of the Association of American Universities.