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Dartmouth economist made Commander of the Order of the British Empire

Dartmouth College Office of Public Affairs • Press Release
Posted 06/09/09 • Media Contact: Susan Knapp (603) 646-3661

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David Blanchflower
Dartmouth economics professor David "Danny" Blanchflower (photo by Joseph Mehling '69)

Dartmouth Professor of Economics David "Danny" Blanchflower has been made a Commander of the Order of the British Empire (CBE) on the annual Queen’s Birthday Honours List. This title reflects an order of chivalry, and it is the third most senior rank after two levels of knighthood. Blanchflower is recognized for his contributions to the field of economics and for his recent three-year stint on the Monetary Policy Committee (MPC) of the Bank of England.

He will receive the award from the Queen at an investiture ceremony at Buckingham Palace in a few months.

"This is an incredible honor," says Blanchflower, who is the Bruce V. Rauner Professor of Economics at Dartmouth.

Blanchflower's time on the MPC coincided with the global economic crisis and a recession in the U.K. He repeatedly voted against interest rate increases, often in contrast to his fellow MPS members. In a June 8, 2009 opinion article for the UK's The Guardian, Blanchflower wrote:

"… Interest rates had been too low in 2003 through 2005 as house prices were roaring. But they had also started to fall by November 2007, according to the Nationwide housing index – and by that point monetary policy was much too tight. I voted against the rate increases in August and November 2006 and again in January 2007. I made a mistake in voting for the increase in May 2007: that was my only vote for an increase. I didn't make that mistake again, and voted against the increase in July 2007. I voted for a cut at every meeting from October 2007 through to March 2009, and when rates were close to zero I voted for quantitative easing. … "

The complete Queen’s Birthday Honour’s List is here.

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