THE WHITE HOUSE

Office of the Pres Secretary

        PRESIDENT CLINTON INTENDS TO NOMINATE JEFFREY A. FRANKEL
                  TO THE COUNCIL OF ECONOMIC ADVISERS

President Clinton today announced that he intends to nominate Jeffrey A. Frankel, of San Francisco, California as a Member of the White House Council of Economic Advisers. If confirmed by the U.S. Senate, Dr. Frankel would join Chairman Joseph E. Stiglitz and Member Alicia H. Munnell at the Council.

Dr. Frankel was educated at Swarthmore College and the Massachusetts Institute of Technology (MIT), where he received his Ph.D. in economics in 1978. Dr. Frankel is a Professor of Economics at the University of California, Berkeley, where he is also Director of the Center for International and Development Economics Research. He is a Research Associate at the National Bureau of Economic Research (NBER), where he directs the program on International Finance and Macroeconomics. He is also a Senior Fellow at the Institute for International Economics (IIE).

Dr. Frankel is a specialist in international economics, finance and macroeconomics. His research interests include the globalization of financial markets, the workings of the foreign exchange market, international macroeconomic policy coordination, regional trading blocs, trade and growth in East Asia, and monetary influences on prices of agricultural and mineral commodities.

Dr. Frankel has served as a Visiting Scholar at the International Monetary Fund and the Federal Reserve Board. He has also had appointments at the University of Michigan, Yale University, the World Bank, and the Federal Reserve Bank of San Francisco. He is the author of numerous professional articles and the author, coauthor or editor of ten books.

Dr. Frankel will succeed Martin Neil Baily at the Council. Dr. Baily recently joined the McKinsey Global Institute, a research group within McKinsey and Company.

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