MAILING ADDRESS: Douglas Gale, Economics Department, New York University, 269 Mercer Street, New York, NY 10003.

EDUCATION: B.Sc. (Trent University); M.A. (Carleton University); Ph.D (University of Cambridge)

CURRENT POSITION: Julius Silver Professor of Economics, New York University
Extraordinary Fellow, Churchill College, Cambridge

PREVIOUS POSITIONS: (1975-78) Junior Research Fellow, Churchill College, Cambridge; (1978-81)   Lecturer in Economics, London School of Economics; (1981-85) Reader in Economics, London School of Economics; (1984-85) Visitor in Economics, University of Pennsylvania; (1985-86)   Professor of Economics, London School of Economics; (1985-87) Associate Professor of Economics, University of Pennsylvania; (1987-88) Professor of Economics, University of Pennsylvania; (1986-90)  Professor of Economics, University of Pittsburgh; (1989-90) Visiting Professor of Economics,  Massachusetts Insitute of  Technology; (1990-96) Professor of Economics, Boston University; (1994) Visitor in Economics, University of Pennsylvania, Chair of the Department of Economics, New York University (1999-2002).

PROFESSIONAL ACTIVITIES: (1979-88) Editorial Board Member, Assistant Editor, The Review of Economic Studies; (1984-87) Research Fellow, Centre for Economic Policy Research; (1986-92; 1997-2001) Associate Editor, The Journal of Economic Theory; (1986-88)  Member, NBER Working Group on Financial Markets and  Economic Fluctuations; (1988-92) Associate Editor, The Journal of Mathematical Economics; (1990-) Associate Editor, Co-Editor, Economic Theory; (1990-96) Associate Editor, Co-Editor Econometrica; (1991-92) Member, Economics Advisory Panel, National Science Foundation; (1992-93) Chairman, Program Committee, North American Summer Meetings of the Econometric Society (held at Boston University, June 1993); (1992-95, 1998-2000) Distinguished Visitor, the Financial Markets Group, London School of Economics; (1997-  ) Associate Editor, Reseach in Economics (Ricerche Economiche); (1997-  ) Advisory Editory, Macroeconomic Dynamics; (1998-2000) Senior Fellow, Wharton Financial Institutions Center; (2000-01) Sloan Fellow, Wharton Financial Institutions Center.

ACADEMIC HONORS and AWARDS: Fellow of the Econometric Society (1987); Churchill Lecturer in Economic Theory (1997); Salomon Brothers, Smith Barney Prize (1998); .

RESEARCH INTERESTS: Financial economics;  microstructure of markets; foundations of macroeconomics and monetary economics

SELECTED PUBLICATIONS:
1. Money in Equilibrium (Cambridge:  Cambridge University Press, 1982).
2. Money in Disequilibrium (Cambridge:  Cambridge University Press, 1983).
3. (with Franklin Allen) Comparing Financial Systems. Cambridge, MA: MIT Press (1999).
4. Strategic Foundations of General Equilibrium: Dynamic Matching and Bargaining Games (August, 2000).
5. (editor, with P. Dasgupta, O. Hart and E. Maskin) Economic Analysis of Markets  and Games:  Essays in Honor of Frank Hahn.  Cambridge, MA:  MIT Press (1992).
6. (editor, with F. Allen) Financial Innovation and Risk Sharing.  Cambridge, MA:  MIT Press (1994).
7. (with Martin Hellwig)  "Incentive-Compatible Debt Contracts:  The One-Period Problem," Review of Economic Studies 52 (1985)
8. (with Franklin Allen) "Optimal Security Design," Review of Financial Studies 1 (1988) 229-263.
9. (with Franklin Allen) "Arbitrage, Short Sales and Financial Innovation," Econometrica 59 (1991) 1041-1068.
10. "Optimal Risk-Sharing through Renegotiation of Simple Contracts," Journal of Financial Intermediation 1 (1991) 283-306.
11. "Standard Securities," Review of Economic Studies 59 (1992) 731-755.
12. (with Franklin Allen) "Stock Price Manipulation," Review of Financial Studies 5 (1992) 503-529.
13. (with Christophe Chamley) "Information Revelation and Strategic Delay in a Model of Investment" Econometrica 62 (1994) 1065-1085.
14. (with Franklin Allen) "Liquidity Preference, Market Participation and Asset Price Volatility" American Economic Review 84 (1994) 933-955.
15. "Dynamic Coordination Games" Economic Theory 5 (1995) 1-18.
16. "Delay and Cycles," Review of Economic Studies 63 (1996) 169-198.
17. (with Franklin Allen) "Financial Markets, Financial Intermediaries and Intertemporal Smoothing" Journal of Political Economy 105 (1997) 523-546.
18. (with Franklin Allen) "Optimal Financial Crises," Journal of Finance 53 (1998) 1245-1284.
19. (with Franklin Allen) "Bubbles and Crises," The Economic Journal110 (2000) 236-256 (with F. Allen).
20. (with Robert Rosenthal) "Experimentation, Imitation, and Strategic Stability," Journal of Economic Theory84 (1999) 1-40 (with Robert Rosenthal).
21. (with Franklin Allen) "Financial Contagion" Journal of Political Economy 108 (2000) 1-33 (with Franklin Allen).