Photo of Martin N. Baily

Martin N. Baily
Council of Economic Advisers

Speeches and Commentary


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 microeconomic issues.

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 four children.

August 1999