Andrew B. Abel: The Wharton Economist Shaping Macroeconomic Thought
Andrew B. Abel is not a celebrity in the traditional sense. He does not appear on reality television, he does not have a net worth measured in the hundreds of millions, and he does not court public attention. Yet within the world of economics, he is a giant. As the Ronald A. Rosenfeld Professor of Finance at the Wharton School and a professor of economics at the University of Pennsylvania, Abel has spent four decades shaping how economists think about fiscal policy, capital formation, monetary policy, asset pricing, and social security. His textbook, Macroeconomics, co-authored with Ben Bernanke, has taught generations of students around the world. This is the story of a scholar whose wealth is measured not in dollars, but in ideas.
Quick Facts
| Attribute | Details |
|---|---|
| Full Name | Andrew Bruce Abel |
| Born | December 3, 1952, in London, England |
| Age | 73 |
| Nationality | American |
| Education | Princeton University (AB, summa cum laude, 1974); Massachusetts Institute of Technology (PhD) |
| Known For | Ronald A. Rosenfeld, Professor of Finance at the Wharton School, co-author of Macroeconomics |
| Occupation | Economist, professor, author |
| Employer | University of Pennsylvania |
| Research Associate | National Bureau of Economic Research (since 1983) |
| Spouse | Anne Abel |
Early Life and Education
Andrew Bruce Abel was born on December 3, 1952, in London, England. He received his AB summa cum laude in economics from Princeton University in 1974. He then went on to earn his PhD from the Massachusetts Institute of Technology.
Abel began his teaching career at the University of Chicago before joining the University of Pennsylvania in 1987. He has been a research associate at the National Bureau of Economic Research since 1983 and has held visiting positions at Tel Aviv University and the Hebrew University of Jerusalem.
Career
Academic Career
Andrew B. Abel has been a professor of economics at the University of Pennsylvania since 1987 and has held the Ronald A. Rosenfeld Professorship at the Wharton School since July 1, 2003. He also serves as a professor in the Department of Finance.
His research focuses on fiscal policy, capital formation, monetary policy, asset pricing, and social security. He has served on the editorial boards of numerous academic journals and is one of the most cited economists in his field.
Author: The Macroeconomics Textbook
Abel is best known to students around the world as the co-author, along with Ben Bernanke and Dean Croushore, of Macroeconomics. The textbook is one of the standard texts used in undergraduate and graduate economics courses and has been through multiple editions. It is a significant source of royalty income for Abel.
NBER and Public Influence
As a research associate at the National Bureau of Economic Research, Abel has contributed to some of the most important economic research of his generation. His work has influenced fiscal policy debates and central bank decision-making.
Major Achievements
- Ronald A. Rosenfeld Professor of Finance: A named professorship at the Wharton School, one of the most prestigious business schools in the world
- Professor of Economics: At the University of Pennsylvania since 1987
- NBER Research Associate: Since 1983
- Author: Co-author of Macroeconomics, a standard textbook used worldwide
- Highly Cited Researcher: Ranked among the top economists in the world by research output and influence
- Phi Beta Kappa: Elected in 1974
Business Ventures
No reliable public information is available on this. Abel’s income is derived primarily from his academic salary, book royalties, and any speaking or consulting engagements, none of which are publicly disclosed.
Public Image
Andrew B. Abel maintains a low public profile. He is known within academic and economic circles as a prolific researcher, a gifted teacher, and a rigorous thinker. His work is widely cited by economists, central bankers, and policymakers. Unlike some of his co-authors, such as Ben Bernanke, who served as Chair of the Federal Reserve, Abel has never held a high-profile government position.
Personal Life
Abel is married to Anne Abel, an author and storyteller. The couple lives in New York City. Anne has written for the New York Times and other publications, and she is a patron of the Roundabout Theater Company.
Net Worth (Estimated)
Publicly available estimates of Andrew B. Abel’s net worth are not available.
As a tenured professor at the Wharton School, his salary is a matter of public record in some states, but Pennsylvania does not require public disclosure of university salaries at private institutions like the University of Pennsylvania. His primary sources of income are his university salary, royalties from his macroeconomics textbook, and any consulting or speaking fees.
No reliable estimate of his net worth is available. He is not a billionaire, nor is he a celebrity whose finances are widely tracked by financial publications. His wealth is likely substantial but modest by the standards of the ultra-wealthy, reflecting the career earnings of a highly successful academic.
Editor’s Note: Net worth figures are estimates compiled from publicly available sources and may vary depending on methodology. Late Magazine does not have access to private financial records and does not present these figures as confirmed or audited.
Interesting Facts
- Co-author with Ben Bernanke: His textbook co-author went on to chair the Federal Reserve
- London-born: Abel was born in London, England, before moving to the United States
- Highly cited: His research has been cited tens of thousands of times
- Academic family: His wife, Anne Abel, is also a published author
Legacy
Andrew B. Abel’s legacy is one of intellectual contribution. He has advanced the field of macroeconomics through his research on fiscal policy and social security. He has taught thousands of students who have gone on to careers in academia, government, and finance. And he has co-authored a textbook that has shaped how generations of students understand macroeconomics. His wealth is not measured in dollars but in the ideas he has contributed to the world.
Frequently Asked Questions
Who is Andrew B. Abel?
Andrew B. Abel is an American economist and the Ronald A. Rosenfeld Professor of Finance at the Wharton School of the University of Pennsylvania. He is a leading researcher in macroeconomics and finance.
What is Andrew B. Abel’s net worth?
Publicly available estimates of his net worth are not available. His income comes primarily from his academic salary and book royalties.
What is Andrew B. Abel known for?
He is known for his research on fiscal policy, capital formation, monetary policy, asset pricing, and social security. He is also the co-author of the widely used textbook Macroeconomics.
Where does Andrew B. Abel work?
He is a professor at the Wharton School of the University of Pennsylvania and a research associate at the National Bureau of Economic Research.
Who did Andrew B. Abel write Macroeconomics with?
He co-authored Macroeconomics with Ben Bernanke and Dean Croushore.
Is Andrew B. Abel married?
Yes. He is married to Anne Abel, an author and storyteller.
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