Varadarajan V Chari

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4-101 HMH

1925 4th Street South

V.V. Chari is the founding director of the Heller-Hurwicz Economics Institute, 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 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 8801-8803: Public Economics Sequence
  • Economics 8105-8108: Macroeconomic Theory Sequence
Research & Professional Activities

Professional Activities

  • Director: Heller-Hurwicz Economics Institute , 2010 - 2016
  • Adviser, Federal Reserve Bank of Minneapolis:
  • Associate Editor, Journal of Economic Theory:
  • Associate Editor, Journal of Financial Intermediation: 1992 - 1995
  • Chair, Department of Economics, University of Minnesota: Sep-97 - Aug-00
  • Fellow, Econometric Society: 1999
  • "Prizes and patents: Using market signals to provide incentives for innovations: Chari, Varadarajan, Mikhail Golosov, Aleh Tsyvinski, Elsevier, Journal of Economic Theory, 147(2) 781-801, 2012.
  • New Keynesian Models: Not Yet Useful for Policy Analysis: Chari, Varadarajan, Patrick Kehoe, Ellen McGrattan, American Economic Association, American Economic Journal: Macroeconomics, 1(1) 242-266, 2009.
  • Time Inconsistency and Free-Riding in a Monetary Union: Chari, Varadarajan, Patrick Kehoe, Blackwell Publishing, Journal of Money, Credit and Banking, 40(7) 1329-1356, 2008.
  • Science Foundation Grant, 1991 - 1992
  • Science Foundation Grant, 1996 - 1999
  • Science Foundation Grant, 1999 - 2002