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Paul Allen McCulley (born March 13, 1957)〔''U.S. Public Records Index'' Vol 1 (Provo, UT: Ancestry.com Operations, Inc.), 2010.〕 is an American economist and former managing director at PIMCO. He coined the terms Minsky moment and Shadow banking system which became famous during the Financial crisis of 2007–2009. He was also a generalist portfolio manager and member of the investment committee in the Pimco Newport Beach office. In addition, he headed PIMCO's short-term bond desk, led PIMCO’s cyclical economic forums and was author of the monthly research publication, Global Central Bank Focus. Prior to joining PIMCO in 1999, he was chief economist for the Americas at UBS Warburg. During 1996–98, he was named to six seats on the Institutional Investor All-America fixed-income research team. He has 25 years of investment experience and holds an M.B.A. from Columbia Business School. He received his undergraduate degree from Grinnell College. He retired from PIMCO in December 2010 and joined the Global Interdependence Center thinktank.〔.〕〔Sree Vidya Bhaktavatsalam, "Pimco’s McCulley to Leave Investing for Think Tank," .〕 McCulley adheres to Keynesian economics, and was particularly influenced by Hyman Minsky. He is a regular guest of CNBC and (Television )] providing investment commentary. ==Quotes== "We believe that Mr. Greenspan should quit giving away puts on the equity market."〔Paul A. McCulley (February 2000). ("Me and Morgan le Fay" ). PIMCO.〕 "Thus, we are willing to say stocks are irrationally exuberant, notably growth stocks, and, in particular, technology stocks."〔Paul A. McCulley (March 2000). ("Fly Fishing In A Deli" ). PIMCO.〕 "There is room for the Fed to create a bubble in housing prices, if necessary, to sustain American hedonism. And I think the Fed has the will to do so, even though political correctness would demand that Mr. Greenspan deny any such thing." "Debt deflation is a beast of burden that capitalism cannot bear alone."〔Paul A. McCulley (January 2001). ("Capitalism's Beast of Burden" ). PIMCO.〕 "Macroeconomic life after bubbles is not a self-correcting process of renewal, but a self-feeding process of debt deflation — to wit, it’s a Minsky Moment."〔Paul A. McCulley (March 2001). ("Look, Honey, I Caught A Liverwurst!" ). PIMCO.〕 "Loosely defined, a Shadow Bank is a levered-up financial intermediary whose liabilities are broadly perceived as of similar money-goodness and liquidity as conventional bank deposits. These liabilities could be shares of money market mutual funds; or the commercial paper of Finance Companies, Conduits and Structured Investment Vehicles; or the repo borrowings of stand-alone Investment Banks and Hedge Funds; or the senior tranches of Collateralized Debt Obligations; or a host of other similar funding instruments."〔Paul A. McCulley (November 2008). ("The Paradox of Deleveraging Will Be Broken" ). PIMCO.〕 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「Paul McCulley」の詳細全文を読む スポンサード リンク
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