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Friday's most cited economists in the press (Top 10)

This is an attempt to concurrently track the hottest topics in the news and measure economists' influence as determined by their press visibility. Whether they are employed by the government, a public policy think thank, a university or a business, economists are in the market of ideas. On occasions, some of the triumphant ideas produced considerable harm but many have resulted in remarkable socio-economic benefit. Nonetheless, the majority of these ideas and analysis remain in total obscurity. An effective way to capture market shares, influence others, gain support and be provided with access to decision makers is an increased presence in the press. Thus, press citations constitute an objective, albeit imperfect, measure of the performance of an economist. 

The study focused on Friday's (07/17/2009) press stories compiled by Google News which is a "computer-generated news site" owned by Google "that aggregates headlines from news sources worldwide." We tracked the anglophone press without taking into account any geographic boundary. We compiled storied where each individual was being cited for her work as an economist. We processed a total of 1455 news links and produced two types of ranking.

The first ranking blindly considered the 1455 news links:

1. Nouriel Roubini  - 75 citations (Doom Roubini)
Wall Street extends rally to fourth day in a row: "The equities market flexed its muscle in afternoon trading, with help from U.S. Treasury Secretary Timothy Geithner and noted economist and New York University professor Nouriel Roubini," said Andrea Kramer of Schaeffer's Investment Research.

2. Douglas Porter -
60 citations (Doug Porter)
Deputy chief economist with BMO Capital Markets, Canada
Canada's annual inflation rate falls below zero - "The irony is that just as (month-to-month) prices start retreating this year, we could have the annual inflation rate jump back up because we had even deeper declines last year. It's the core inflation number that's raised a few eyebrows in the last couple of months because it has held up more than expected." Porter said it seems laughable to be worrying about inflation when Canada experiences its first negative reading in 15 years, but when the cycle does turn, the Bank of Canada might start worrying about inflation earlier than most would have expected.

3. Ernie Goss - 49 citations 
Creighton University, Omaha, Nebraska.
Rural bankers: Midwest economy is still sick: Creighton University economist Ernie Goss, who oversees the survey [of rural bankers], said the gauge of overall economic activity seemed to bottom out earlier in the year but is now trending downward.

4. Michael Walden - 32 citations
North Carolina State University, Raleigh, North Carolina.
NC's jobless rate stays high at 11 percent in June: North Carolina State University economist Michael Walden is forecasting that North Carolina's unemployment rate will peak at about 13 percent early next year and stay above 10 percent through the end of 2010.

5. Kurt Karl - 31 citations
Chief US economist at Swiss Re, USA. Market Report - Jul. 17, 2009: "It looks to me like we'll be moving from shrinking to growing by the end of the quarter. The housing number this morning was kind of indicative of that." He said the building permits number was the best that has been seen all year and that it's a sign that the sector has hit bottom on the construction side.

5. Patrick Newport - 31 citations
US Economist at IHS Global Insight, USA.
US housing construction picks up as market bottoms: "This was the most positive
[Commerce Department] housing report in ages. Not every number was up, but the key ones -- the single- and multi-family permits -- both improved. Based on June's numbers, we should continue to see improving housing starts numbers nationally and across all four regions over the next two months. Moving further ahead, single-family starts will continue to improve, but the recovery will be a slow one, lasting two to three years.".

7. Jay Brinkmann - 28 citations
Chief economist with the Mortgage Bankers Association, USA.
Job, housing crises linked: "There's nothing there that's going to help people who don't have jobs."

8. David Crowe - 27 citations
Chief economist for the National Association of Home Builders, USA.
Confidence rising for house builders: "The component gauging sales expectations for the next six months remained virtually flat for a fourth consecutive month. Builders recognize the recovery is going to be a slow one and that we are facing a number of substantial negative forces."

9. Pierre Ellis - 20 citations
Decision Economics senior economist
TREASURIES-Losses as stronger housing data damp safety bid: "The housing starts rise is very convincing evidence of the potential for the general housing market to improve."

9. Bernard Baumohl - 20 citations
Chief global economist at the Economic Outlook Group, USA
Jobless rate tops 10 percent in 15 states, DC: "A lot of older industries are having to shut down and many of these jobs will never come back."

The second ranking muted the impact of newswires. We eliminated duplicates of stories appearing on other news sites.

1. Nouriel Roubini  - 45 citations (Doom Roubini)

2. Colm McCarthy -
12 citations
University College Dublin, Ireland
They've told us what to do but are we up to the job?: Mr McCarthy, like many other economists, believes that, not only must the cuts be made, but they must be made quickly. It is not like the 1980s, he says, when governments had a fair idea how much borrowing they could get away with, and often went to the limit. Now, in what he calls "the worst debt markets I've ever seen", no one knows how much Ireland can borrow before the tap might be turned off.

3. Douglas Porter - 11 citations (Doug Porter)
Deputy chief economist with BMO Capital Markets, Canada

4. Howard Archer - 9 citations
Chief UK and European economist at IHS Global Insight, UK
1-Euro zone May trade in surplus, internal demand weak: "The recent underlying improvement in the euro zone's trade performance reflects the fact that imports are now falling more than exports."

4. Paul Krugman - 9 citations
Nobel Prize-winning economist, US.
How Economics Failed and What to Do Now: "[O]f the 7,000 or so papers published by the National Bureau of Economic Research between 1985 and 2000, only five mentioned fiscal policy in their title or abstract."

6. Kurt Karl - 8 citations
Chief US economist at Swiss Re, USA.

7. Simon Johnson - 7 citations
Massachusetts Institute of Technology, MA, USA.
Denying CIT aid shows bailouts have their limits: "[By protecting large institutions and not small ones,] the too-big-to-fail problem gets worse. We can expect to see is that the big guys are going to keep getting bigger and the small guys are going to have to clean up their acts or go bankrupt."

8. Ben Westmore - 6 citations
Minerals and energy economist with the National Australia Bank, Australia.
Oil falls amid weak crude demand: "Things are looking better, but the markets are still looking shaky. [The oil market is taking] two steps forward, one step back [as traders are more prone to engage in profit-taking whenever prices shoot higher.] When you get a price increase, there will be investors thinking that it will be a good time to sell off and that’s what’s happening.”

8. David Crowe - 6 citations
Chief economist for the National Association of Home Builders, USA.

8. Mark Vitner - 6 citations
Senior economist at Wells Fargo Securities LLC in Charlotte, N.C., USA.
Housing starts rose 3.6% in June: "The springtime is arguably the most important time of the year for home builders,so the increase [in Single-family starts] reflects an actual improvement in real activity, not simply a statistical improvement due to overly active seasonal adjustment. [However,] the second quarter will likely mark the bottom for multi-family starts."