Update: There was some confusion earlier as to what the cause of death was to take someone as young as Krueger. We now know the sad answer: suicide. This was revealed in the statement published later on Monday from his family.
“It is with tremendous sadness we share that Professor Alan B. Krueger, beloved husband, father, son, brother, and Princeton professor of economics took his own life over the weekend,” a statement from his family reads. “The family requests the time and space to grieve and remember him. In lieu of flowers, we encourage those wishing to honor Alan to make a contribution to the charity of their choice.”
His passing was initially announced Monday by Princeton, which praised him as “a true leader in his field, known and admired for both his research and teaching.”
Krueger was chief economist at the Department of Labor under President Clinton from 1994 to 1995, and chair of the White House Council of Economic Advisers under President Obama from 2011 to 2013.
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Alan Krueger, a regular fixture on financial TV and prominent labor market economist who was James Madison Professor of Political Economy at Princeton, as well as a respected economist under both the Obama and Clinton administrations, passed away over the weekend at the age of 58. "Alan was recognized as a true leader in his field, known and admired for both his research and teaching", Princeton University wrote this morning.
More from the brief Princeton obit published this morning:
In addition to his scholarship, Alan’s life exemplified a commitment to public service. His contributions to the nation included serving as President Clinton’s Chief Economist at the Department of Labor, and as Assistant Secretary of the Treasury for Economic Policy and chair of the White House Council of Economic Advisers under President Obama.
A valued member of the Princeton University community for over three decades, Alan will be deeply missed by his students and colleagues. The University asks that the privacy of the Krueger family be respected at this difficult time.
Information regarding a public celebration of Professor Krueger’s life and legacy will be released at a future date.
In addition to his extensive academic track record, Krueger was an assistant secretary of the Treasury from 2009 to 2010 during Barack Obama’s administration. Later, he was the chairman of the Council of Economic Advisers during the early days of the economic recovery, from 2011 to 2013, according to the NYT.
From 1994 to 1995, he was the Labor Department’s chief economist under President Bill Clinton.
Krueger, a labor economist by training, was known for his early work finding that the minimum wage did not reduce employment among low-wage workers. More recently, he studied the role of the opioids epidemic in reducing employment among men. He also studied less serious topics, including the rising price of concert tickets.