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09/24/93

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Economist Boskin to return to Stanford, Hoover Institution

STANFORD -- Michael J. Boskin, chairman of the President's Council of Economic Advisers in the Bush Administration, will return to Stanford University this month in a joint appointment as a professor of economics and a senior fellow of the Hoover Institution.

In his faculty role, he will hold the Tully M. Friedman Professorship, a newly endowed chair, in the economics department of the School of Humanities and Sciences. At Hoover, Boskin will conduct empirical and theoretical research on issues fundamental to evaluating monetary, budget, tax, regulatory and trade policies.

"Michael Boskin brings to Stanford a unique blend of probing scholarship, outstanding teaching and distinguished public service," Stanford President Gerhard Casper said.

Added John Raisian, director of the Hoover Institution: "We are delighted to welcome Michael back to Stanford. The fact that he will spend a significant amount of his time at Hoover is especially pleasing to us."

Boskin, 47, took a leave from Stanford in 1989 to join the Bush Administration. The independent Council for Excellence in Government rated the Council of Economic Advisers under Boskin's chairmanship as one of the five most respected agencies in the federal government and the second-best return on the taxpayer's dollar.

Since January, Boskin has been a visiting scholar at the American Enterprise Institute in Washington, D.C., and active in economic and policy consulting.

"It was gratifying to have so many interesting opportunities, and difficult to turn down the chance to work with some remarkable people," Boskin said. "But my regard for my Stanford and Hoover colleagues, Stanford students and alumni, and confidence in Stanford's new leadership - Gerhard Casper, [Provost] Condi Rice, John Raisian and [Dean of Humanities and Sciences] John Shoven - convinced me that Stanford is the place for me."

Boskin has been on the Stanford faculty since 1971, and from 1981 to 1988 was director of the university's Center for Economic Policy Research. His fields of specialization include public finance, economics and public policy, and applied macroeconomics, microeconomics and econometrics.

Among his awards have been election as a distinguished fellow of the National Association of Business Economists in 1990, that organization's Abramson Award for Outstanding Research in 1987, and, at Stanford, the Dean's Award for Distinguished Teaching in 1988. He has written two books - Too Many Promises: The Uncertain Future of Social Security (1986) and Reagan and the Economy: Successes, Failures, Unfinished Agenda (1987) - and has two more (one on postwar world economic growth, the other on saving and consumption patterns) in preparation. He has edited nine other books and written scores of journal articles.

Boskin is internationally recognized for his research on world economic growth, U.S. saving and consumption patterns, and the implications of changing technology, demography and economic policy on capital, labor and product markets. He writes regularly on economic trends and fiscal, monetary, trade and regulatory policy in newspapers and magazines, and discusses economic issues on television.

The new professorship he will hold was endowed through a gift from Tully M. Friedman, a managing partner of the San Francisco private investment firm of Hellman & Friedman. A 1962 graduate of Stanford with a bachelor's degree in political science, Friedman also is a member of the Stanford Management Co. board of directors.

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