Steven Fazzari


Steven Fazzari is the Bert A. and Jeanette L. Distinguished Professor of Economics at Washington University in St. Louis and a member of INET’s Academic Council.  He received his Ph.D. in economics from Stanford University in 1982.  Professor Fazzari’s research explores two main areas:  the financial determinants of investment and R&D spending by U.S. firms and the foundations of Keynesian macroeconomics.  His published articles appear in a wide variety of academic journals and books. A recent search found over 3,000 citations to Fazzari’s publications in the Research Papers in Economics database (approaching 11,000 in Google Scholar).  In addition, his research supported by INET has been highlighted in the national and international media, with recent attention to the link between rising income inequality and slow economic growth.   

Fazzari teaches macroeconomics.  He teaching awards include the Missouri Governor’s award for excellence in university teaching and Washington University’s distinguished faculty award. Fazzari served six years as chair of the Department of Economics and recently began a new job as chair of the newly founded Department of Sociology. 

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By this expert

Inequality, the Great Recession, and Slow Recovery

Paper Working Paper Series | | Oct 2014

Rising inequality reduced income growth for the bottom 95 percent of the US personal income distribution beginning about 1980.

Aggregate Demand, Instability, and Growth

Paper Grantee paper | | Feb 2013

This paper considers a puzzle in growth theory from a Keynesian perspective.

State-Dependent Effects of Fiscal Policy

Paper Grantee paper | | May 2012

We investigate the effects of government spending on U.S. economic activity using a threshold version of a structural vector autoregressive model.

Featuring this expert

A Fight Over Inequality: The 5% Vs. The Rest

Article | Apr 29, 2014

In late 2007, the United States started feeling the effects of the Great Recession. And over the ensuing two years the economic disaster spread across the globe.