Frederick Macaulay, Date of Birth, Place of Birth, Date of Death

Frederick Macaulay

Canadian economist

Date of Birth: 12-Aug-1882

Place of Birth: Montreal, Quebec, Canada

Date of Death: 01-Mar-1970

Profession: economist, university teacher

Nationality: Canada

Zodiac Sign: Leo

Frederick Robertson Macaulay (August 12, 1882 – March 1970) was a Canadian economist of the Institutionalist School.
He is known for introducing the concept of bond duration.
Macaulay's contributions also include a mammoth empirical study of the time series behavior of interest rates published in 1938 and a study of short selling on the New York Stock Exchange (Macaulay and Durand, 1951).
The term "Macaulay duration" is named after him. Macaulay was born in Montreal to a family influential in Montreal business; his father, Thomas Bassett Macaulay, was a well-known actuary[1].
He obtained his bachelor's and master's degrees from the University of Colorado in 1909 and 1920, respectively.
He also obtained a law degree in 1911.
In 1924, he obtained a PhD from Columbia University. Macaulay worked at the National Bureau of Economic Research from 1921 until 1938.
He also taught at the New School of Social Research.
In 1923 he was elected as a Fellow of the American Statistical Association.
In 1938, Macaulay became research director of the Twentieth Century Fund.