15 Facts About Peter Diamond

Peter Diamond was awarded the Nobel Memorial Prize in Economic Sciences in 2010, along with Dale T Mortensen and Christopher A Pissarides.

Peter Diamond is an Institute Professor at the Massachusetts Institute of Technology.

Peter Diamond's grandparents immigrated to the US at the turn of the 20th century.

Peter Diamond's parents, both born in 1908, grew up in New York City and never lived outside the metropolitan area.

Peter Diamond started public school in the Bronx, and switched to suburban public schools in the second grade when the family moved to Woodmere, on Long Island.

Peter Diamond was an assistant professor at the University of California, Berkeley, from 1963 to 1965 and an acting associate professor there before joining the MIT faculty as an associate professor in 1966.

In 1968, Peter Diamond was elected a fellow and served as president of the Econometric Society.

Peter Diamond is a Fellow of the American Academy of Arts and Sciences, a Member of the National Academy of Sciences, and is a Founding Member of the National Academy of Social Insurance.

In June 2011, following a third round of consideration for the Fed seat, Peter Diamond wrote in a New York Times op-ed column that he planned to withdraw his name.

In October 2010, Diamond was awarded the Nobel Prize in Economic Sciences, along with Dale T Mortensen from Northwestern University and Christopher A Pissarides from the London School of Economics "for their analysis of markets with search frictions".

Peter Diamond has been married to Kate since 1966.

Peter Diamond has made fundamental contributions to a variety of areas, including government debt and capital accumulation, capital markets and risk sharing, optimal taxation, search and matching in labor markets, and social insurance.

Peter Diamond is one of the first papers which explicitly models the search process involved in making trades and hiring workers, which results in equilibrium unemployment.

Peter Diamond has focused much of his professional career on the analysis of US Social Security policy as well as its analogs in other countries, such as China.

Peter Diamond has frequently proposed policy adjustments, such as incremental but small increases in social security contributions using actuarial tables to adjust for changes in life expectancy and an increase in the proportion of earnings that are subject to taxation.