Varadarajan V Chari

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4-101 HMH

1925 4th Street South

V.V. Chari is the Paul Frenzel Land Grant Professor of Liberal Arts in the University of Minnesota Department of Economics, and an adviser at the Federal Reserve Bank of Minneapolis. He was also the the founding director of the Heller-Hurwicz Economics Institute,

He received a Bachelor of Technology in Chemical Engineering from the Indian Institute of Technology, Bombay and his Ph.D. from Carnegie-Mellon University. He has served on the Board of Editors of many journals, including Econometrica, the Journal of Economic Literature and the Journal of Economic Perspectives. In 1998, he was elected fellow of the Econometric Society and was named Scholar of the College by the College of Liberal Arts, University of Minnesota, in 2008. His research interests are in banking, fiscal and monetary policy and on issues of economic development.

Educational Background & Specialties

Educational Background

  • Ph.D.: Economics, Carnegie-Mellon University, Pittsburgh, PA, 1981.
  • M.S.: Economics, Carnegie-Mellon University, Pittsburgh, PA, 1978.
  • B. Tech.: Chemical Engineering, Indian Institute of Technology, Bombay, India, 1974.


  • financial intermediation
  • fiscal and monetary policy
  • industrial organizations
  • macroeconomics
  • public economics
Courses Taught
  • Economics 8105-8108: Macroeconomic Theory Sequence
  • Econ 8702: Monetary Economics
  • Economics 8801-8803: Public Economics Sequence
Research & Professional Activities

Professional Activities

  • Adviser, Federal Reserve Bank of Minneapolis:
  • Associate Editor: American Economics Journal: Macroeconomics , 2008 - present
  • Associate Editor: Journal of Economic Theory , 1998 - present
  • Director: Heller-Hurwicz Economics Institute , 2010 - 2016
  • Associate Editor, Journal of Financial Intermediation: 1992 - 1995
  • Chair, Department of Economics, University of Minnesota: Sep-97 - Aug-00
  • Fellow, Econometric Society: 1999
  • Reforming the European Monetary Union. Chari, Varadarajan, Alessandro Dovis, Patrick Kehoe, Federal Reserve Bank of Minneapolis, Co-Author, May 2017.
  • A Journey Down the Slippery Slope to the European Crisis: A Theorist’s Guide,: Chari, Varadarajan, Alessandro Dovis, Patrick Kehoe, Hoover Institution Press, Rules for International Monetary Stability: Past, Present, and Future, 2017.
  • Accounting for Business Cycles with Wedges: Chari, Varadarajan, Pedro Brinca, Patrick Kehoe, Ellen McGrattan, Elsevier, Handbook of Macroeconomics, September 2016.
  • Bailouts, Time Inconsistency and Optimal Regulation: A Macroeconomic View: Chari, Varadarajan, Patrick Kehoe, American Economic Review, 106: 9 2458-2493, 2016.
  • A Proposal To Eliminate the Distortions Caused by Bailouts: Chari, Varadarajan, Patrick Kehoe, Federal Reserve Bank of Minneapolis, Economic Policy Paper, 2016.
  • Fellow, Econometric Society, 1999 - present
  • Scholar of the College, College of Liberal Arts, University of Minnesota, 2008 - 2011
  • Census Bureau Research Grant, 2005 - present