SUNY Distinguished Professor
UB Distinguished Professor
Melvin H. Baker Professor of American Enterprise
PhD, Columbia University
BA, Hebrew University of Jerusalem
Isaac Ehrlich is SUNY and University at Buffalo Distinguished Professor of Finance and Melvin H. Baker Professor of American Enterprise at the School of Management, and professor of Economics and director of the UB Center of Excellence on Human Capital, Technology Transfer, and Economic Growth and Development in the College of Arts and Sciences. He is also included in the prestigious Who’s Who in Economics, a biographical dictionary of major economists’ 1700-1980, in the first and all subsequent editions.
Ehrlich serves as a research associate at the National Bureau of Economic Research, a research fellow at IZA, and the founding editor-in-chief of the Journal of Human Capital, published by the University of Chicago Press. He also is a member of the advisory board of the Asian Journal of Law and Economics.
Ehrlich is the author of numerous articles in top economics journals on law and economics; human capital and health economics; information and advertising; risk and insurance; financial economics, social security and population aging; entrepreneurship and immigration; and endogenous economic growth and development. He has edited books on National Health Policy: What Role for Government? (Hoover Institution Press); the three-volume Economics of Crime –The International Library of Critical Writings in Economics (Edward Elgar); and a special issue of the Journal of Political Economy on The Problem of Development (1990).
Ehrlich has also rendered important public service. He served as a member of the transition team of President Ronald Reagan in 1981-82; member of Hong Kong Government's Health Services Research Committee headed by minister Elizabeth Wong in 1993; and member of the Council of Economic Advisors of New York Gov. David A. Paterson from 2008-10. He served from 2014-16 as a member of the National Academies of Sciences’ Panel on the Economic and Fiscal Consequences of Immigration.
“Introducing Volume 2 of Celebrating the Life and Work of Gary Becker,” Journal of Human Capital vol. 13, no. 2 (Summer 2019): 137-139.
“Was Higher Education a Major Channel through which the US Became an Economic Superpower in the 20th Century?, with Adam Cook, Journal of the Asia Pacific Economy 23:4, 515-553, 2018. 1st published online: 23 Oct 2018;
Isaac Ehrlich, Adam Cook, and Yong Yin, “What Accounts for the US Ascendancy to Economic Superpower by the Early Twentieth Century? The Morrill Act–Human Capital Hypothesis”, Journal of Human Capital, vol. 12, no. 2, summer 2018, 233-281.
“Celebrating the life and work of Gary Becker”, Journal of Human Capital, vol. 12, no.2, summer 2018, 173-181.
“The Problem of the Uninsured” (with Yong Yin), Research in Economics, Elsevier, Inc., Research in Economics 72 (2018) 147–168.
“The Role of Entrepreneurial Human Capital as a Driver of Endogenous Economic Growth”, with Dunli Li and Zhiqiang Liu, Journal of Human Capital, vol 11(3) fall 2017, 310-51.
“Special issue in Honor of Ronald H. Coase”, Journal of Human Capital vol. 11 (3) fall 2017, 297-309.
“The Role of Immigration in Long-Run Economic Growth”, Chapters 6.5 and 6.8 (Technical Appendix) in The Economic and Fiscal Consequences of Immigration, Francisne Blau and Christopher Mackie (eds.), a Report of the National Academies of Science, Engineering and Medicine, The National Academies press, Washington DC, 2017, pp.297-312 and 317-318.
“Economics of Criminal Law, Crime and Punishment” Lead article (chapter 15) of Part III: Crime and Punishment, in The Oxford Handbook of Law and Economics, Volume 3: Public Law and Legal Institutions, Francesco Parisi (ed.), Oxford University Press UK, April 2017, pp. 295-324. Online Publication Date: May 2017 DOI: 10.1093/oxfordhb/9780199684250.013.022
“Immigration, Human Capital Formation and Endogenous Economic Growth”, with Jinyoung Kim, Journal of Human Capital, vol. 9, no. 4, pp. 518-563, 2015.
“Equilibrium Health Spending and Population Aging in a Model of Endogenous Growth: Will the GDP Share of Health Spending Keep Rising?” with Yong Yin, Journal of Human Capital, 2013, vol. 7, no. 4, December 2013.
“Private Information, Human Capital, and Optimal “Home Bias” in Financial markets”, with Jong Kook Shin and Yong Yin, Journal of Human Capital, University of Chicago Press, vol 5(3), pages 255-301, 2011.
“Taxing Crime vs. Taxing Guns: An Application of the Market for Offenses Model”, Journal of Economic Modeling, with Saito Tetsuya, Elsevier, vol. 32(5), 670-689, September 2010.
“Human Capital and Imperfectly Informed International Financial markets”, with Jong Kook Shin. American Economic Review, vol. 100(2), 244-49, May 2010.
“The Market Model Of Crime – A Short Review And New Directions”, lead article, in Handbook on the Economics of Crime Bruce L. Benson and Paul R. Zimmerman, eds. Edward Elgar Publications, 2010.
“Economics of Crime” in 21st Century Economics: A Reference Handbook, Rhonda C. Free ed., Sage Publications, 2010.
"The mystery of human capital as engine of growth, or why the US became the economic superpower in the 20th century," Ensayos Económicos, Central Bank of Argentina, Economic Research Department, vol. 1(56), 41-93, October, 2009.
“Asset Management, Human Capital, and the Market for Risky Assets” (lead article), with William Hamlen Jr., and Yong Yin, Journal of Human Capital, vol. 2 (3), 2008, 217-262.
"The Mystery of Human Capital as Engine of Growth, or Why the US Became the Economic Superpower in the Twentieth Century." In The Mystery of Capital and the Construction of Social Reality, edited by Barry Smith, David Mark, and Isaac Ehrlich. Chicago: Open Court, 2008, 113-158.
“Economics of Deterrence – Theory” in The New Palgrave Dictionary of Economics, 2nd edition, edited by Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan (Basingstoke and New York), May 2008.
"The Evolution of Income and Fertility Inequalities over the Course of Economic Development: A Human Capital Perspective", with Jinyoung Kim, Journal of Human Capital, inaugural issue, vol. 1, Winter 2007
"Why Does Human Capital Need a Journal?", with Kevin M. Murphy, Journal of Human Capital, inaugural issue, vol. 1, Winter 2007
“Economics of Deterrence – Theory” in The New Palgrave Dictionary of Economics, 2nd edition, edited by Steven N. Durlauf and Lawrence E. Blume, Palgrave Macmillan (Basingstoke and New York), forthcoming, 2008.
“Economics of Crime” in The Encyclopedia of law and Society, edited by David S. Clark, Sage Publications, CA: Thousand Oaks, 2006.
“Explaining Diversities in Age-Specific Life Expectancies and Values of Life Saving: A Numerical Analysis”, with Yong Yin, Journal of Risk and Uncertainty, Springer, vol. 31(2) 2005, 129-162.
“Endogenous Fertility, Longevity, and Economic Dynamics: Using a Malthusian Framework to Account for the Historical Evidence on Population and Economic Growth”, with Jinyoung Kim, Journal of Asian Economics, issue 15 (6) 2005, 789-806.
"Social Security: From Pay-As-You-Go Systems to an Individual-Based Capitalization System" (text in English; title in Spanish: Prevision social: de los regimens de reparto a los de capitalizacion individual). Published as part of a three articles series ("Conferencias"), along with contributions by Gary Becker and Joseph Stiglitz. Revista de Ciencias Empresariales Y Economia, vol 2 (2003).
“The Growth-Inequality Nexus without Borrowing Restrictions or Government Intervention: Some Implications from a Prototype Model”, with C.W. Yuen, Annals of Economics and Finance Vol. 1, December 2000, 283-301.
"Uncertain Lifetime, Life Protection, and the Value of Life Saving", Journal of Health Economics (May 2000).
"Bureaucratic Corruption and Economic growth", with F. T. Lui, Journal of Political Economy (October 1999).
"Sensitivity Analyses of the Deterrence Hypothesis: Let's Keep the Econ in Econometrics" (with Z. Liu), Journal of Law and Economics (April 1999).
"Social Security, the Family, and Economic Growth" (with F. Lui), Economic Inquiry (July 1998).
"Social Security and the Real Economy: An Inquiry into Some neglected Issues" (with J. Zhong), American Economic Review (May 1998).
"Crime, Punishment, and the Market for Offenses", Journal of Economic Perspectives (Winter 1996).
"Optimal Portfolio and Consumption Decisions in a Stochastic Environment with Precommitment" (with W.A. Hamlen, Jr.), lead article, Journal of Economic Dynamics and Control(April 1995).
"Productivity Growth and Firm Ownership" (with G. Gallais-Hamonno, R. Lutter and Z. Liu), Journal of Political Economy (October 1994).
"Intergenerational Trade, Longevity, and Economic Growth" (with F. Lui), Journal of Political Economy (October 1991).
"The Problem of Development-Introduction" Journal of Political Economy (October 1990).
"The Demand for Longevity and the Value of Life Extension" (with H. Chuma), Journal of Political Economy (August 1990).
"On the Issue of Causality in Crime Control" (with G. Brower), American Economic Review (May 1987).
"The Optimum Enforcement of Laws and the Concept of Justice: A Positive Analysis", lead article, International Review of Law and Economics (June 1982).
"The Derived Demand for Advertising: A Theoretical and Empirical Investigation" (with L. Fisher), American Economic Review (June 1982).
"On the Usefulness of Controlling Individuals:An Economic Analysis of Rehabilitation, Incapacitation and Deterrence", American Economic Review (June 1981).
"Capital Punishment and Deterrence: Some Further Thoughts and Additional Evidence", Journal of Political Economy Aug, 1977.
"Asset Management, Allocation of Time and Returns to Savings" (with U. Ben-Zion), Economic Inquiry (December 1976).
"The Deterrent Effect of Capital Punishment--A Question of Life and Death", American Economic Review (June 1975).
"Participation in Illegitimate Activities--A Theoretical and Empirical Investigation", lead article, Journal of Political Economy (May-June 1973).
"Market Insurance, Self-Insurance and Self-Protection" (with G. Becker), lead article, Journal of Political Economy (July-August 1972).
The Mystery of Capital and the New Philosophy of Social Reality (tentative title), co-editor (with Barry Smith and David Mark), Open Court Publishing Company, Chicago, June 2008.
Journal of Human Capital, University of Chicago Press, Editor in Chief, volume 1, December 2007 –
The Economics of Crime (editor, with Z. Liu). A three-volume book of readings on the subject. Selected as part of the collection: "International Library of Critical Writings in Economics" (Mark Blaug, general editor), Edward Elgar Publishing Ltd. London, England (2006).
National Health Policy: What Role for Government (editor), Proceedings of the Conference on National Health Policy held at Stanford University in March of 1980, Stanford: Hoover Institution Press (1982).
The Problem of Development (editor), Journal of Political Economy (October 1990).
National Health Policy: What Role for Government (editor), Proceedings of the Conference on National Health Policy held at Stanford University in March of 1980, Stanford: Hoover Institution Press, 1982.
The Problem of Development (editor), Journal of Political Economy (October 1990).
Problems in Economic Theory. A complement to Economic Theory by Gary S. Becker, in mimeographed form, University of Chicago.