An internationally renowned economist with a 25-year history at one the country’s leading Federal Reserve Banks will join Rensselaer Polytechnic Institute as the new head of the department of economics. Arturo Estrella, who is currently senior vice president for the research and statistics group at the Federal Reserve Bank of New York, will steer the department in a new direction, building interdisciplinary links with the department and other strong Rensselaer programs.

“We are extremely pleased to welcome Professor Estrella to Rensselaer,” said Provost Robert Palazzo. “His vision for the department and its students is what made him the ideal choice. He plans to utilize our core ideals of innovation, interdisciplinary collaboration, and entrepreneurship and to strengthen the links between the economics department and the Lally School of Management & Technology, the mathematics and computer science departments within the School of Science, and the technical prowess found in the School of Engineering.”

Estrella’s research area is computational economics, particularly forecasting associated with recessions and other trends. His research also encompasses finance, macroeconomics, monetary policy, and bank regulation. He has published 19 papers in some of the most respected journals in his field since 2000.

“It was the particular match of his research work with the strengths of Rensselaer that led to active pursuit of the position to lead our department,” said John Harrington, dean of the School of Humanities, Arts, and Social Sciences, where the economics department is based. 

Estrella has a long record of administrative leadership at the Federal Reserve Bank of New York, where he has headed research, markets, and bank supervisory groups. He first joined the bank as an economist in 1983. In these roles he has been recruiting, mentoring, and developing the work of economists including senior researchers and doctoral researchers. Estrella also has experience in the academic setting, having taught at Columbia University, Harvard University, Fordham University, and the University of Puerto Rico.

He holds doctoral and master’s degrees in economics from Harvard University. He also holds a master’s in mathematics from the University of Michigan as well as the University of Puerto Rico. He received his bachelor’s in philosophy from Columbia University.

Estrella is expected to arrive at Rensselaer on Aug. 1, 2008 to begin the 2008-09 academic year.