Martin N. Baily was appointed by the President as Chairman of the
Council of Economic Advisers. He was confirmed by the Senate on August 5, 1999.
As Chairman, Dr. Baily serves as economic adviser to the President and is a
member of the President's Cabinet.
Before joining the Council in August, Dr. Baily was a Principal at
McKinsey & Company at the Global Institute in Washington, D. C. from
September 1996 to July 1999. He was also a visiting fellow at the Global
Institute l993-1994. Dr. Baily was a co-leader of projects on service and
manufacturing productivity and employment, as well as a series of country
studies, looking at France, Germany, the Netherlands, the UK, Brazil, Korea and
Russia. Dr. Baily has also worked with McKinsey client teams, providing
counseling to CEO's on economic issues.
Dr. Baily previously served as one of the three Members of the
President's Council from October 1994 until August 1996. As a member, Dr.
Baily was responsible for macroeconomic policy as well as a range of
Dr. Baily earned his Ph.D. in economics in 1972 at the Massachusetts
Institute of Technology. After teaching at MIT and Yale, he became a Senior
Fellow at the Brookings Institution in 1979 and a Professor of Economics at the
University of Maryland in 1989. His research has focused on wage setting,
macroeconomic policy, innovation, productivity and economic growth.
Dr. Baily was a member of the academic advisory panel of the
Congressional Budget Office. He has served as an academic adviser to the
Federal Reserve Board and testified numerous times before Congress. He served
on a panel convened by the Office of Technology Assessment and was the
Vice-Chairman of a panel of the National Academy of Sciences/National Research
Council to investigate the effect of computers on productivity. He was a
research associate of the National Bureau of Economic Research .
In 1987 Dr. Baily co-founded the Microeconomics issue of the
Brookings Papers on Economic Activity. He is also the author of many
professional articles, and the editor or co-author of four books.
Dr. Baily resides in Chevy Chase, Maryland with his wife, Vickie and