The Laboratory for Aggregate Economics and Finance (LAEF) was established in July 2005 to address important questions on growth and fluctuations in national, or aggregate, economies. LAEF is directed by Professor Finn Kydland, Jeffrey Henley Professor of Economics, and is located in a suite of offices in the vicinity of the Economics Department. Four leading macroeconomists from outside UCSB serve as advisors to LAEF, their charge being the identification of timely economic questions, issues and/or anomalies which may be addressed in a conference or workshop setting. In addition to sponsoring conferences and workshops, the Laboratory provides an environment in which to conduct topical research in quantitative aggregate theory by resident and short-term visiting scholars.

LAEF is similar to the Norwegian pronunciation of Leif, as in Leif Eiriksson, the great explorer and first European discoverer of North America. And exploration and discovery is what LAEF is all about!A