About the Author

Mark Zandi   is chief economist and cofounder of Moody’s Economy.com, where he directs the firm’s research and consulting activities. Moody’s Economy.com is an independent subsidiary of the Moody’s Corporation and provides economic research and consulting services to global businesses, governments, and other institutions. His research interests include macroeconomic and financial economics, and his recent areas of research include an assessment of the economic impacts of various tax and government spending policies, the incorporation of economic information into credit risk analysis, and an assessment of the appropriate policy response to real estate and stock market bubbles. He earned his Ph.D. from the University of Pennsylvania, where he did his Ph.D. research with Gerard Adams and Nobel Laureate Lawrence Klein, and his Bachelor of Science degree from the Wharton School at the University of Pennsylvania.