Baseball Stats and Fed Nominee Bernanke

Ben Bernanke, President Bush's choice to replace Federal Reserve Board Chairman Alan Greenspan, is a student of financial as well as baseball statistics. In particular, Bernanke thinks the formula for evaluating the performance of baseball pitchers — the calculation of the Earned Run Average — could use some revision.

Dwight Jaffee, the Willis Booth Professor of Banking Finance and Real Estate at the Haas School of Business at the University of California at Berkeley, helped Bernanke come up with this idea. He talks about the Fed chair nominee and his ideas.

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