David Michael Garrood Newbery, CBE, FBA (born 1 June 1943),^[2] is a Professor of Applied Economics at the University of Cambridge. He got this position in 1988.^[3] He specializes in the field of energy economics, and he writes on the regulation of electricity markets. His interests also include climate change mitigation and environmental policy, privatisation, and risk.^[4]

Early life

Newbery was born on 1 June 1943 at Fulmer Chase, Fulmer, Buckinghamshire, England. He studied at Portsmouth Grammar School from 1954 till 1961, where he won Best Science Candidate in Cambridge GCE A&S Level. He then proceeded to study Mathematics and Economics at Trinity College, Cambridge, obtaining a B.A. in 1964, M.A. (Cantab.) in 1968 and a Ph.D. degree in 1976.^[5]

Career

In 1965 he was pre-elected to Churchill Teaching Fellowship. In 1966 he got a position of University Assistant Lecturer at Faculty of Economics. Later he was a Director of Department of Applied Economics from 1988 till 2003. He also served as a Professor II at Tromso University, Norway from 2011 till 2013.

In 1981 Newbery co-authored a book and several articles with Nobel-laureate Joseph Stiglitz. The name of the book was "The Theory of Commodity Price Stabilization: A Study in the Economics of Risk"

Besides his role as Professor of Applied Economics at Cambridge, he serves as Vice-Chairman of Cambridge Economic Policy Associates,^[6] Director of the Cambridge Electricity Policy Research Group^[7] and an occasional consultant to the World Bank.^[8] In 1988–2003 he was Director of the Department of Applied economics. He was a member of the Competition Commission in 1996–2002, and chairman of the Dutch electricity market surveillance committee. He was elected a Fellow of the British Academy^[3] in 1991. He is a member of the Academic Panel of DEFRA.^[3] Since 1966 he has been a fellow of Churchill College, and was President of its Senior Combination Room (SCR) in from 2010 to 2019.^[9]

Honours

• Newbery was appointed Commander of the Order of the British Empire (CBE) in the 2012 Birthday Honours for services to economics.^[10]
• He was awarded an Honorary Doctorate by the Paris Dauphine University in 2022^[11]
• He was elected Fellow of Econometric Society in 1989.
• He was awarded Frisch Medal of the Econometric Society in 1990.
• He was awarded Harry Johnson Prize by Canadian Economics Association in 1993.
• He received the IAEE 2002 Outstanding Contributions to the Profession of Energy Economics Award.
• He was awarded an Honorary Degree at the University of Antwerp in 2004.^[5]
• He was president of International Association of Energy Economics in 2013.

Selected bibliography

Books

• Newbery, David M.G.; Stiglitz, Joseph E. (1981). The theory of commodity price stabilization: a study in the economics of risk. Oxford Oxford New York: Clarendon Press Oxford University Press. ISBN 9780198284178.
• Newbery, David M.G.; Stern, Nicholas (1987). The Theory of taxation for developing countries. New York: Published for the World Bank by Oxford University Press. ISBN 9780195205411.
• Newbery, David M.G. (1995). Tax and benefit reform in Central and Eastern Europe. London: Centre for Economic Policy Research. ISBN 9781898128199.
• Newbery, David M. (1999). Privatization, restructuring, and regulation of network utilities. The Walras-Pareto Lectures. Cambridge, Massachusetts: MIT Press.
• Newbery, David M. (2003). The distributional impact of the proposed tax reform on Greek households.
• Newbery, David M.G.; Székely, István P. (2008). Hungary: an economy in transition. Cambridge: Cambridge University Press. ISBN 9780521057547.

Journal articles

• Newbery, David M.G. (September 1970). "A theorem on the measurement of inequality". Journal of Economic Theory. 2 (3): 264–266. doi:10.1016/0022-0531(70)90040-2.
• Newbery, David M.G. (Spring 1978). "Stochastic limit pricing". The Bell Journal of Economics. 9 (1): 260–269. doi:10.2307/3003625. JSTOR 3003625.
• Newbery, David M.G.; Stiglitz, Joseph E. (December 1979). "The theory of commodity price stabilisation rules: welfare impacts and supply responses". The Economic Journal. 89 (356): 799–817. doi:10.2307/2231500. JSTOR 2231500.
• Newbery, David M.G.; Stiglitz, Joseph E. (January 1984). "Pareto inferior trade". Review of Economic Studies. 51 (1): 1–12. doi:10.2307/2297701. JSTOR 2297701.
• Newbery, D.M. and J.E. Stiglitz (1982) ‘The Choice of Techniques and the Optimality of Market Equilibrium with Rational Expectations’, Journal of Political Economy, 90(2), April, 223-46. doi: https://www.jstor.org/stable/1830291?seq=2#references_tab_contents. JSTOR 1830291.