Paul Allen McCulley (born March 13, 1957)[1] is an American economist and former managing director at PIMCO. He coined the terms "Minsky moment" and "shadow banking system", which became famous during the Financial crisis of 2007–2009. He is currently a senior fellow at Cornell Law School and an adjunct professor at Georgetown McDonough School of Business.
Paul McCulley
| |
|---|---|
| Born | (1957-03-13) March 13, 1957 (age 67) |
| Nationality | American |
| Academic career | |
| Institution | PIMCO |
| Field | Financial economics |
| School or tradition | Post-Keynesian economics |
| Alma mater | Columbia Business School (M.B.A.) Grinnell College (B.A.) |
| Influences | John Maynard Keynes Hyman Minsky William H. Gross |
He was also a generalist portfolio manager and member of the investment committee in the Pimco Newport Beach office. In addition, he headed PIMCO's short-term bond desk, led PIMCO’s cyclical economic forums and was author of the monthly research publication, Global Central Bank Focus. Prior to joining PIMCO in 1999, he was chief economist for the Americas at UBS Warburg. During 1996–98, he was named to six seats on the Institutional Investor All-America fixed-income research team. He has 25 years of investment experience and holds an M.B.A. from Columbia Business School. He received his undergraduate degree from Grinnell College.[citation needed]
He retired from PIMCO in December 2010 and joined the Global Interdependence Center thinktank.[2][3]
McCulley adheres to Keynesian economics, and was particularly influenced by Hyman Minsky.[4]
He is a regular guest of CNBC and Bloomberg Television providing investment commentary.