Jonathan A. Parker


Jonathan A. Parker


On leave 2019-2020

Jonathan A. Parker is the Robert C. Merton (1970) Professor of Finance and codirector of the MIT Golub Center for Finance and Policy. He has held numerous service positions and consulting positions, including Area Head of Economics, Finance and Accounting at Sloan, editor of the NBER Macroeconomics Annual, and special adviser on Financial Stability for the Office of Financial Stability in the U.S. Department of the Treasury in 2009. He currently serves an economic adviser for the Congressional Budget Office, a visiting scholar at the Federal Reserve Bank of Boston, an academic advisor to the JP Morgan Chase Institute, a research associate at the National Bureau of Economic Research, and a member of the Board of Editors of the American Economic Review. An expert in finance, macroeconomics, and household behavior, Parker has published widely on topics such as macroeconomic risks and asset returns, fiscal stabilization policy, national saving, household financial decisions, the measurement of business cycles, and modeling human economic behavior.

Current Research Focus: Parker works on issues in household finance, FinTech, financial markets, and public policy. Current research topics include household portfolios, the evolution of financial services, the regulation of consumer finance, big data in financial markets, and the efficacy of recent policies like economic stimulus payments and the "Cash for Clunkers" program.


"Accelerator or Brake? Cash for Clunkers, Household Liquidity, and Aggregate Demand."

Green, Daniel, Brain T. Melzer, Jonathan A. Parker, and Arcenis Rojas. American Economic Journal: Economic Policy. Forthcoming. NBER Working Paper 22878. Blog Summary.

NBER Macroeconomics Annual 2019, Volume 34.

Eichenbaum, Martin S., Erik Hurst, and Jonathan A. Parker (Eds.). Chicago, IL: University of Chicago Press, Forthcoming.

"The Local Aggregate Effects of Minimum Wage Changes."

Cooper, Daniel, María José Luengo-Prado, and Jonathan A. Parker. Journal of Money, Credit and Banking Vol. 52, No. 1 (2020): 5-35. Formerly NBER Working Paper #25761.

"Asymmetric Consumption Smoothing."

Baugh, Brian, Itzhak Ben-David, Hoonsuk Park, and Jonathan A. Parker, MIT Sloan Working Paper 5907-20. Cambridge, MA: MIT Sloan School of Management, January 2020.

Load More

Recent Insights🔗

Ideas Made to Matter

3 policy proposals to bolster the post-lockdown economy

Financial experts call for more aid to small businesses, more liquidity for banks, penalty-free access to retirement accounts — and a safe return to work.

Read Article
MIT Sloan Experts

Open letter to Congress regarding the coronavirus stimulus package

MIT Sloan finance faculty write in support of a stimulus package that focuses on combating the Coronavirus pandemic directly as well as helping economically vulnerable households and small businesses which are most affected by the pandemic. However, unrestricted cash injection into large corporations, they say, would be a grave mistake.

Read More
Load More

Media Highlights🔗