George Akerlof is Senior Resident Scholar at the IMF since 2010 and
Koshland Professor of Economics at the University of California, Berkeley.
A 2001 recipient of the Nobel Prize in Economic Science (shared with Michael
Spence and Joseph Stiglitz), he was honored for his theory of asymmetric
information and its effect on economic behavior. He researches a range
of topics, including crime, discrimination, family problems, financial
markets, German unification, macroeconomics, monetary policy, poverty and
unemployment. He is also well known for his efficiency wage hypothesis,
which suggests that wages are determined by the efficiency goals of employers
in addition to supply and demand forces.