Munnell held a number of short-term positions before earning her doctorate. She was a teaching fellow in the economics departments of Boston University from 1965 to 1966 and Harvard University from 1971 to 1973. From 1964 to 1965 she was a staff assistant in the Business Research Division of the New England Telephone Company. From 1966 to 1968 she was a research assistant to
Joseph A. Pechman, then director of the Economic Studies Program at the
Brookings Institution. She also had an appointment as assistant professor of economics at Wellesley in 1974.
Clinton administration In December 1992,
President-elect Bill Clinton held an economic forum in
Little Rock,
Arkansas, which Munnell attended. Clinton responded favorably to several of Munnell's policy proposals. By January 20, 1993, when Clinton was
inaugurated, Munnell was seen as the likely choice for the post of
Assistant Secretary of the Treasury for Economic Policy. Three days later, Clinton's
Treasury Secretary,
Lloyd Bentsen, announced her appointment to the post in an acting capacity. To formally hold the post, Munnell needed to be
confirmed by the
U.S. Senate. Several
Republican Senators reacted negatively to the nomination, citing her views on taxing pensions. The pension industry also criticized the nomination. Nonetheless, she had the support of some Republican Senators, including
David Durenberger, the ranking member of the
Finance Committee, She was confirmed later that month by a
voice vote following floor debate in which several Republicans reiterated objections to the pension tax proposal. As Assistant Secretary, Munnell's main role was as the chief aide to the Treasury Secretary on economic issues. and
Superfund reform. Now, she argues that the best way to fix the social security funding dilemma is to raise taxes. By February 1994, speculation had begun that Munnell could be named to the
Federal Reserve Board of Governors. In May 1995, when
John P. LaWare announced his retirement from the Fed Board, the Clinton administration announced its intention to appoint Munnell to fill the vacancy. However, the
November 1994 election had given Republicans control of the Senate, and a group of 10 Republican Senators told the administration they would oppose her over concerns that she would not fight
inflation hard enough. Her views on pensions and the mortgage discrimination study she led were also cited as reasons the lending industry pressured Republicans to oppose her. The Fed Board seat remained vacant until June 1996, when the Senate confirmed
Lawrence Meyer to replace LaWare.
The Washington Post reported in December 1996 that Clinton would name Munnell to head the
Social Security Administration during his second term, but this did not come to pass. She left the Council of Economic Advisers in August 1997, ending her service in the Clinton administration.
Boston College After resigning from the Council of Economic Advisers in 1997, Munnell joined the faculty of Boston College as the Peter F. Drucker Professor of Management Sciences at the Carroll School of Management. She founded BC's Center for Retirement Research the following year. Munnell was named a Fellow of the
American Academy of Arts and Sciences in 1998. Alicia Munnell co-founded and became the first president of the National Academy of Social Insurance. She was the 2009 recipient of the National Academy of Social Insurance's
Robert M. Ball Award for Outstanding Achievements in Social Insurance. Currently, she is a member of the American Academy of Arts and Sciences and the National Academy of Medicine. She is a member of the board of the National Bureau of Economic Research and the Pension Rights Center. == Personal life ==