EconomicsDEPARTMENT OF Annual newsletter • FALL 2008

Thoma’s blog serves a free lunch of high-quality economic analysis rofessor Mark Thoma joined Internet, Mark’s is ranked 873. Pthe economics department Several of the other leading in 1987, and served as the economics blogs, such as The New department’s head from 1995 York Times’s Freakonomics, are to 2000. Before coming to the produced in conjunction with a University of Oregon, Mark major media outlet. By contrast, spent two years teaching in the the content and management of prestigious economics department The Economist’s View is primarily at the University of California at handled by Mark, who generally San Diego. Mark earned his B.A. produces four to five new posts in economics from California State daily, and has produced more University, Chico, and his Ph.D. in than 6,000 posts since the blog’s economics from Washington State inception. The daily posts usually University. generate hundreds of comments, In 2005, Mark began The which Mark also posts. The Economist’s View (economistsview. blog has helped make Mark an typepad.com), a website that internationally known economist, provides economic analysis of and he is called on frequently contemporary events, reviews by radio, television, and print academic research, and surveys journalists as a source of economic economic news stories and analysis analysis. This has intensified available from other sources. His during the recent financial crises, original motivation for creating his for which Mark’s blog has been blog was born out of his frustration a leading source of information with popular press coverage of about the crises and for analysis of the 2004 election, which he felt government responses. was sorely lacking in high-quality The quality of Mark’s blog is economic analysis. Somewhat to not surprising, given that he has Mark’s surprise, his blog exploded been a consistent contributor of in popularity, and is now visited daily by more than 10,000 readers, continued on page 10 including journalists, academics, policymakers, and lay people. A In this issue recent ranking by Technorati, a blog search engine, ranked The Greetings from the Piger quits printing money department head ...... 2 to join UO Economics...... 5 Economist’s View sixth among Faculty profile: Chris Ellis...... 2 Happenings in the Department economics blogs, topping other of Economics ...... 6 blogs produced by well-known Alumni profile: Ernie Ankrim ...... 3 Legal Ducks...... 7 academics such as Paul Krugman Graduate program notes...... 3 Faculty Notes ...... 8 of Princeton University and Graduate student profile: Brad DeLong of the University of Kiwako Sakamoto...... 4 Pledges and donations...... 11 California at Berkeley. Among the Undergraduate program notes. . . . . 4 Where’s Bill?...... 12 roughly 20 million blogs on the

Check out the PLC webcam: webcam.uoregon.edu/view/index.shtml Faculty profile: Chris Ellis Alumni profile: Ernie Ankrim hris Ellis received his B.A. in theorem from 1785! rnie Ankrim, M.S. temporary employees, guest on CNBC, Bloomberg Ceconomics from the University Over the years, Chris’s teaching E ’75, Ph.D. ’76, Chief Ernie was able to apply Television, and PBS, and is quoted Greetings from the of Essex in England in 1978, and has morphed and expanded. Investment Strategist, for—and received—a in The Wall Street Journal, The completed his master’s degree and Today he teaches graduate Russell Investment research position that he New York Times, the Los Angeles department head Ph.D. at the University of Warwick microeconomics and public Group, left the University fully intended to leave Times, and major daily newspapers I am writing to you in 1979 and 2003, respectively. finance, and these, together with of Oregon to pursue an after one year. throughout the country. as Head of the He joined the faculty at Oregon in game theory, at the undergraduate academic career, but a Near the conclusion Ernie has fond memories of the UO economics 1983 after brief spells at Lancaster level. The game theory course is sabbatical opportunity of that year, Ernie University of Oregon’s Department department after University in England and at a relatively new innovation, as led him to the financial realized that he would of Economics and the many faculty Larry Singell (our Cornell. industry. After completing not have the time members who provided insights former head) He has been his Ph.D., Ernie joined the faculty or resources to continue his and opportunities that formed accepted a position as associate dean a great academic at Pacific Lutheran University, an research interests if he returned the basis of his career. He credits this past summer traveler, spending employer he expected to remain to academia. Consequently, he Chulsoon Khan for bringing rigor to with our new time visiting with until retirement. He spent resigned his position at PLU to his economic thinking, Barry Siegel incoming dean of the College of Arts and in the United fourteen years at PLU, including pursue a career path at Russell that for teaching opportunities that Sciences. In short, I am the last domino Kingdom, Norway, six years as department chair. culminated with his appointment helped him land his first job, and Ed to fall! Fortunately, I am part of a well- Australia, and While preparing for his second to chief investment strategist of Whitelaw for his general enthusiasm functioning and convivial department, so Iceland, as well sabbatical in 1990, Ernie contacted the investment group. He now for economics. Finally, Ernie is the landing has been relatively soft. On the research front, our twenty as attending a former colleague about research directs a small group of “Ph.D. especially appreciative to then- faculty produced seventy journal articles in numerous opportunities at the Russell types” who focus on short-term department chair Bob Campbell, the past two years alone and a number of international Investment Group, a Tacoma, investment forecasting and asset- who took a chance on admitting faculty have their current research being conferences. This Washington–based firm best known allocation decisions. In addition, Ernie to the UO on the basis of a funded through external organizations, last year alone has for the creation of indexes to Ernie is Russell’s leading voice rushed admission decision when including the National Science Foundation, seen him giving measure the performance of money on markets, portfolio strategies, Ernie had just two weeks to decide the Environmental Protection Agency and papers in Iceland, the Netherlands, it involves students playing and managers. While Russell did not and institutional and individual if he would continue his fellowship the National Institute on Aging. On the analyzing numerous strategic teaching side, interest in economics has the United Kingdom, and Korea. have any formal opportunities for investor behavior. He is a frequent at another school. continued to grow by leaps and bounds. Next year he’s off to Ireland and games, and has proven very We now have over 700 majors, about South Africa. popular. He is currently working double from six or seven years ago. Our Chris has been involved in the with several graduate students on graduate program likewise continues to Association for Public Economic topics ranging from the economics Graduate program notes be strong, placing over 95 percent of all Theory and the International of lobbying to the political Fall 2008 began with forty-three Ph.D. student went to Anna-Maria presenting his work at U.S. our Ph.D. students in the past ten years by Institute of Public Finance, serving economy of the minimum wage. graduate students in the UO Aksan for her paper, “Intellectual conferences and invited seminars their graduation date. on the program committees for both In his life away from the Finally, our department has continued economics department, with thirty- Property Rights and the Health in Ireland this fall. a number of recent innovative programs their annual conferences. university, Chris has been married seven of these in the doctoral Needs of the Poor.” Erica Johnson We continue to place emphasis including an undergraduate honors class His recent research interests to his wife, Jenny, for thirty years, program. This includes a class of won the Mikesell Research Paper on cultivating our students’ that has students work with local non- focus on the intersection of and has two adult sons, Ian and eight first-year Ph.D. students. Award for her paper, “ The Effect teaching abilities as well. This year, profits, the Oregon Economic Forum, economics and politics, including Gordon. He consults on game We graduated three Ph.D. of Children on Adult Demands for the Outstanding GTF Teaching and our Summer Academy to Inspire papers on questions such as why theory for a major Fortune 500 students last year. Kelii Haraguchi Health-Risk Reduction.” Four Ph.D. Award was shared by Kelii Learning (SAIL). See page 6 for more economic forces cause some technology firm, plays golf, tries to begins his career at Willamette students won Kleinsorge Research Haraguchi, Ryan Herzog, and Nino details on these programs. countries to become democratic practice yoga, and coaches youth While the success of our department University this fall, while Nino Fellowships for the past summer: Sitchinava. comes from the passion, innovativeness, and others not, and why some soccer teams (having hung up his Sitchinava began this past summer Anna-Maria Aksan, Eric Duquette, Our master’s program continues and pure hard work of our faculty economic systems seem more own boots a couple of years ago). as an economist at the Analysis Annie Voy, and David Wozniak. to be strong. Graduating this and students, your gifts have been prone to corruption than others. He and Jenny just got back from Group in Menlo Park, California. This past year has also seen year were Ryadh Mohammed instrumental in a variety of ways from His most recent paper, “Gradual hiking the West Highland Way, Beilei Cai was recently married a significant number of graduate Alkahareif, Robert Francian, John faculty recruitment and retention to Franchise Extensions and Growth,” a ninety-three-mile route from and begins a job search this fall students accepted to present their Kandrac, and Cordon Newhart. A helping fund SAIL and the Oregon explains why the vote is extended Glasgow to Fort William through in the San Francisco area, where work at national and international significant number of our master’s Economic Forum. We thank you from the to a greater proportion of the some of Scotland’s most scenic bottom of our hearts. her spouse is pursuing a graduate conferences, including Silke graduates use their training to enter landscape. He was sustained in this Bruce Blonigen population over time, and why this degree in engineering. Friedrich at a prestigious political doctoral programs, while others increase in democratization leads endeavor by the promise of a glass There were many noteworthy economy workshop in Switzerland, find jobs in the private sector or, to economic growth. Just to show of single-malt whisky at the end of achievements by our Ph.D. students Eric Duquette at two of the top in the case of many international that nothing is ever really new, each day. This shows economists this past year. This year’s Best conferences in environmental students, work for their home this paper utilizes Condorcet’s jury clearly understand incentives. Field Paper Award by a current economics, and Matt Cole country’s government.

2 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS 3 Undergraduate student profile: Kiwako Sakamoto Piger quits printing money to join UO Economics iwako an international Carolina Research Triangle. eremy Piger joined the number of papers investigating K Sakamoto’s agency at the UN In winter 2008, she decided JUniversity of Oregon as an business-cycle episodes at the state plans for her journey and by her brother, to come back to the UO with the assistant professor of economics and city level. He maintains a set of to the United States who was already an clear idea of what she needed in 2006, and was promoted to statistical models that calculate the first began after economist in Japan. and the confidence to do well associate professor in 2008. Jeremy probability that the United States her graduation After a year and in a large research institution. received his B.A. in economics as a whole, and the states of Oregon from high school a half at Oregon, Since she came back to Oregon, from Seattle Pacific University and and Washington individually, are in Japan. During she took a generous Kiwako has been working as a completed his Ph.D. in economics currently in an economic recession, her high school scholarship from math grader and tutor, and started at the University of Washington and updates these probabilities years, Kiwako took Cornell College, a working as an economics research in 2000. While there was some monthly on his website: care of her family small liberal arts assistant for Professor Joe Stone concern about hiring a “Dawg” www.uoregon.edu/~jpiger. household as well college in Iowa. in summer 2008. She loves the in the department, all can agree Jeremy has conducted research as her mother, who Math professors laid-back environment of the that Jeremy has worn green more investigating the behavior of died during Kiwako’s there discovered economics department, where she than purple and gold in his time U.S. and international inflation. sophomore year in her ability to feels she knows everyone in the at Oregon. Jeremy came to Eugene One paper, jointly authored with high school. These solve mathematics department—a circumstance that with his wife, Angela Davis, Andrew Levin and Fabio Natalucci responsibilities, along with problems, which led her to rarely happens in large universities. who is an assistant professor of of the Federal Reserve, investigates attending a very competitive an academic award from the So far, Kiwako has taken accounting in the UO’s Charles H. the link between inflation science high school, led Kiwako to department, a research opportunity advanced-level econometrics and Lundquist College of Business, and performance and whether or not decide she wanted to strike out on at the economics department, macroeconomics classes, and will their two young sons. He teaches a nation’s central bank conducts a new journey far from home for a round-table discussion with be taking a 600-level course this fall. undergraduate and graduate Journal of Monetary Economics, monetary policy under an explicit her college experience. Her interest Professor Robert Solow, and She is planning to spend two more courses in macroeconomics and the Journal of Money, Credit, and “inflation targeting” framework. in economics was influenced participation in a mathematical years at the UO to fully prepare for econometrics. Banking, The Review of Economics The results of this study have both by her dream of working for modeling workshop at the North a Ph.D. program in economics. Before joining the economics and Statistics, the Journal of been featured in speeches made department, Jeremy worked for six Econometrics, and the Journal of by current Federal Reserve years as a research economist in the Urban Economics, and has been chairman Ben Bernanke. Recently, Federal Reserve System. The first of featured in several outlets in the Jeremy has studied ways in which Undergraduate program notes those years was spent at the Federal popular press, including Business qualitative information about the Reserve’s Board of Governors in Week and The Wall Street Journal. macroeconomy and individual welling university attendance exercises reminded faculty were already looking ahead to their Washington, D.C., where he studied One focus of his research is the firms, such as that coming from Sand an ongoing reputation for members that their hard work as next steps, with some already in foreign economies as a member of study of the business cycle, or written texts, can be quantified for educational excellence continues instructors is a richly rewarding jobs at firms such as Smith Barney, the board’s international finance the tendency of the economy to use in forecasting. to benefit the department’s experience. We helped guide fifteen Boeing, EcoNorthwest, the Federal division. The other five years transition between recession and Jeremy is excited to be a undergraduate program. At last of the students who received Latin Reserve Bank Board of Governors, were spent at the Federal Reserve expansion. For example, he has member of the UO economics count, we have more than 700 honors, and five of the students and a variety of other financial Bank of St. Louis. While at the studied whether recessions have department, which he has found to majors and 150 minors for fall term elected to the prestigious Phi and corporate leaders. And many Federal Reserve, Jeremy conducted long-run effects on macroeconomic be a very intellectually stimulating of 2008. Last year’s graduation Beta Kappa society. We also saw plan to go directly to prestigious research on a broad range of performance, or are instead environment. He and his wife was once again a testament to more than twenty of our students graduate schools including the topics and helped advise and brief simply temporary bumps in the are also glad to be back in the our success, as we squeezed our obtain departmental honors, which London School of Economics, UC policymakers on issues relevant for road, and has authored several Northwest, where they were both faculty, students, and their relatives requires a 3.50 GPA in upper- Berkeley Law School, Yale Law the formulation of monetary policy. studies of the apparent reduction raised, and hope to find Eugene into Beall Hall for what is likely division economics courses and an School, and economics doctoral Jeremy’s principal field of in the frequency of U.S. recession home for a long time to come. to be the last time—we need honors thesis. You can read some programs at Cal Tech and Johns study is at the intersection of episodes. He has also written a additional space to properly say of these by visiting economics Hopkins. We wish our graduating econometrics and macroeconomics. farewell to our graduating seniors. .uoregon.edu/honors. students the best as they move His research has been published in As always, this year’s graduation Moreover, our recent graduates forward with their lives and careers! a number of journals including the

4 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS 5 Happenings in the Department of Economics Legal Ducks How’s Joe? of times that we in the faculty are the challenges posed by an aging coordinated a team of academic ur department and entire approached on campus with a society, covering topics ranging economists with Army Corps of O UO community had a very “How’s Joe?” attests to how well from financial security to health- Engineer economists, planners, scary period this past February respected and appreciated he is in care concerns. We extended the and consulting agencies. This when Professor Joe Stone suffered our UO community. health-care topic in the spring research program is intended to a life-threatening stroke. After a with a new annual event in Bend, provide a body of knowledge useful few tense days, Joe’s condition Wind in Our SAILs Oregon, which again drew 200 for evaluating policy alternatives his past August saw the people and included presentations T continuation and growth of by UO economist Robin McKnight the Summer Academy to Inspire and leading Oregon business people Learning (SAIL), which was and policymakers in the health developed by Bruce Blonigen industry. In addition to these two and Bill Harbaugh to encourage conferences, Tim Duy, director of bright local kids from low-income the forum, continued to publish backgrounds to go to college. This the University of Oregon Index of past year saw a new crop of ninth- Economic Indicators on a monthly graders in the economics summer basis and the Central Oregon camp, while previous years’ Business Index on a quarterly basis. economics camp students enjoyed Tim received considerable attention camps this year in psychology in December 2007 when the UO Sharanya Kanikkannan and Carrick Flynn and neuroscience or physics and index predicted that Oregon would t is a truly exceptional student nanoscience. Next year, there are soon be in recession, a prediction who garners offers from all the plans for the original cohort of that was vindicated in March 2008 I top law schools. This past year, students (who will be entering their as a string of job losses hit the our department saw three members senior year of high school) to take Oregon economy. We are currently of our UO economics graduating part in a rhetoric and debate camp preparing for the fifth annual class fit this description. Sharanya stabilized and he began the long sponsored by the UO’s Clark Honors Oregon Economic Forum, “Ships, confronted by the corps and to Kanikkannan and Carrick Flynn journey of rehabilitation and College. Overall, there are nearly Planes, and Trains—Oregon’s Links integrate some of that knowledge ultimately decided on Yale, while recovery. Among other effects, Joe fifty local Springfield students to the Global Economy,” October into analytical models. This Lisa Poplawski started law school experienced paralysis on the left involved in the camps, and we plan 16, 2008, at the Oregon Zoo in research program (summarized at at the University of California side of his body, but strenuous to have honors college students Portland. University of Oregon www.corpsnets.us) has involved at Berkeley this fall with an rehabilitation has allowed him to work with them during the school economists and leaders in the a wide range of topics. The topics economics and law fellowship. regain movement in his left leg and year as mentors. The camps have business community will discuss include the following: 1. spatial All three come from very different some in his left arm. Thankfully, been completely funded internally the importance of transportation equilibrium, transportation, and backgrounds. Carrick grew up Joe is still sharp as a whip, and by UO academic departments, infrastructure in sustaining congestion; 2. demand modeling poor in a small town in Oregon was already back attending our with significant volunteer time by economic growth in Oregon. that integrates stated and revealed and says, “My background really seminars this past spring, asking scores of faculty and staff members. For more information about preference data as well as spatial makes me wonder how this ever the presenters thoughtful questions We continue to pursue external upcoming events, please visit relationships; 3. the development of even happened.” Lisa grew up in Lisa Poplawski about their scholarship. He is funding opportunities to bring this uoregon.edu/~oefweb/home. new measures of port efficiency and various places around the country, were lucky enough to experience already engaged with his own experience to many more needy the relationship to trade; 4. short- from Alabama to the Portland firsthand in our department. While research collaborations and plans students across Oregon. To find out A body of research on bodies and long-run forecasting models of suburbs. Sharanya took an even we will miss them, their success to teach part-time in the coming more about the program, visit of water river traffic and the spatial-dynamic more circuitous route to the UO, stories will be used to inspire our year as his rehabilitation continues. sail.uoregon.edu. ince July 1, 2003, Professor patterns; 5. railroad pricing over as she was born in Srirangam, current undergraduates. Such While not surprising to any of Wes Wilson has been on full or S space; 6. the efficiency of the India, grew up in Jeddah, Saudi stories reinforce the fact that us who know Joe, it is amazing Informing public policy partial leaves to serve as a technical locks, vessels, and firms; 7. port Arabia, Toronto, Canada, and Sayre, economics is perhaps the best to see the courage, perseverance, he Oregon Economic Forum adviser and visiting scholar to the growth models; and a host of other Pennsylvania, before moving to preparation for a career in law, and good humor with which Joe heads into it fifth annual event Navigation Economics Technologies T subjects. Burns, Oregon. What all three share with economics majors scoring first has approached this challenge. He this fall on the back of another program of the Institute for is an amazing amount of energy, nationally out of all majors on the has been a true inspiration to his successful year. Last fall we Water Resources, Army Corps of intelligence, and poise, which we entrance exam for law schools. colleagues in the department and brought 200 participants together Engineers. In this capacity, he across the campus. The number in Portland, Oregon, to explore has both conducted research and

6 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS 7 Faculty notes Bruce Blonigen’s current research at five conferences and invited Andrews, Scotland, and presented Chakraborty of the University problem and the economic set of institutional need-based aid projects include analysis of public talks during the past year, ranging papers at the Central Bank of of Kentucky) examination of the history of developing countries’ programs (e.g., Princeton’s no- support for trade policies and the from Ohio to Poland, and has Chile, University College, London, forward premium paradox. Steve income distributions and growth loans, grants only) improve access. consumer gains we receive from had three papers accepted for the Federal Reserve Bank of San continues to offer online courses policies. His research has been Also, a paper with John McDowell importing new product varieties. publication. In addition, he was Francisco, the Bank of Japan, the in principles of micro and macro presented at the Central Bank of (Arizona State) and Mark Stater Bruce enjoyed developing and awarded the Fulmer Award by the State University of New York at and in international economics. Argentina. Nick has been part of (Trinity College) examines the teaching a new introductory course UO. In keeping with his research Binghamton, New York University, After many years as associate the International Monetary Fund’s human-capital characteristics of in international economics for the on foreign direct investment and Stanford. Publications during department head, he will pass this academic consulting group. He academics that lead them into UO International Studies Program and trade, Ron himself became the year include papers in the administrative torch in midyear to also blogs at RGE Monitor on Latin leadership positions. Larry is this past spring. He also continues “international” when he left the Journal of Monetary Economics, Van Kolpin. American macroeconomics and currently serving as associate dean to teach the undergraduate honors department at the beginning of The American Economic Review, has been consulted by specialized of social sciences. course and helps lead the middle- the summer to take a position as and Macroeconomic Dynamics. He Van Kolpin’s research focuses on newspapers in Argentina. school economics summer camp. professor at University College, is the principal investigator of an game theoretic analysis, including Joe Stone returns part-time this Bruce successfully “guest”-coached Dublin, in Ireland. NSF project, “Bounded Rationality asymmetric information games and Robin McKnight continues her year as he continues recovery from the UO football team to a victory and Macroeconomic Policy.” hybrid nonatomic environments research in the economics of a stroke. His research on fertility in their opening game against Tim Duy continues to serve as populated by both “large” and health insurance, with a focus on has raised enough hackles among Washington this fall. the director of undergraduate Jo Anna Gray and coauthors Bob “small” players. In addition to how patients respond to increased other researchers to attract formal studies and director of the Oregon O’Brien (UO, sociology), Jean solo research projects, he has copayments. In the past year, comments. Recent papers were Trudy Ann Cameron is completing Economic Forum (OEF). This Stockard (UO, planning, public recently written papers with Mark she has published a paper in the published in Demography, Social her second year as president of the past year saw the successful policy and management), and Joe Stater (Trinity College, UO alum) Journal of Public Economics, Forces, and the Journal of Policy Association of Environmental and launch of an annual OEF forum Stone are pleased that their work on strategic behavior in higher- presented three invited seminars, Analysis and Management. Joe will Resource Economists. Her active in Bend, Oregon, which focused on nonmarital births has raised education markets and David participated in the Oregon coteach a research topics class for research with UO Ph.D. students on health-care issues and was hackles in the field of demography Aadland (University of Wyoming, Economic Forum in Bend, and seniors with Bruce Blonigen this in the Mikesell Lab concerns attended by more than 200 and attracted several formal UO alum) on the axiomatic analysis taught courses in microeconomics, year. willingness to pay for health-risk people. Tim has also created the comments. She continues to work of cost-sharing mechanisms. This public economics, and health reductions by type of illness (with University of Oregon Index of on the impact of government past summer, Van presented his economics. Robin is currently on Mark Thoma recently published Erica Johnson), systematic effects Economic Indicators, which is tax and expenditure policies research at the World Congress of leave at Wellesley College. the paper “Structural Change and of subjective choice difficulty closely tracked by the media. He on income growth and to teach the Game Theory Society. Lag Length in VAR Models” in in choice experiments (with is in the process of developing macroeconomic theory and policy Jeremy Piger’s current research the Journal of Macroeconomics. Eric Duquette), and Canada-U.S. individualized indexes for the at the undergraduate and graduate Peter Lambert works on poverty focuses on business-cycle Mark has been among the first differences in demands for health- main metro areas of Oregon— levels. She will serve as the and growth. He gave the invited measurement and Bayesian faculty members at the university risk reductions (with Peter Stiffler). Portland, Eugene, and the Bend- department’s graduate director for lecture at the International approaches to model comparison. to use video lectures as part of Her research has been presented at Redmond area—and involving UO the coming year. Conference on Welfare State In the past year, his research his courses. The videos are on the all six major conference venues for students in constructing them in a Performance and Design in Zagreb, was published in a number of web, and have surpassed 30,000 environmental economics in 2008. new forecasting course he teaches Bill Harbaugh was named lectured at the Oslo Summer journals, including the Journal views. He also stays busy with annually. “Professor of the Year” by the School in Comparative Social of Money, Credit and Banking, his blog, Economist’s View, which Shankha Chakraborty’s recent student publication The Oregon Science Studies, and has been the Journal of Econometrics, and was recently ranked the fifth- research explores how people’s Chris Ellis presented papers at Commentator, which he claims is awarded a part-time professorship the Journal of Urban Economics. best economics blog by Palgrave ability to acquire skills depends on Illinois State, the University a respected journal of libertarian in the research department at His research was also featured (economistsview.typepad.com). their peers, and what that means of Iceland, and a number of thought. In April, Bill and a group Statistics Norway. His current in Business Week and The Wall The blog currently averages more for intergenerational mobility. international conferences this of researchers from Stanford met coauthors are Lucio Esposito Street Journal. He was a visiting than 10,000 visitors daily. Another project examines the past year. His paper with John with the Dalai Lama in Seattle to (University of East Anglia, UK) scholar at the Federal Reserve effect of labor market regulations Fender, “The Economic Evolution discuss research on the neural and Essama Nssah (World Bank Bank of St. Louis, and presented Anne van den Nouweland was on firm productivity. Shankha of Democracy,” was accepted basis of compassion. He will be Poverty Reduction Group). Peter his research at the University of awarded a Linkage Grant by the has just returned from a spring- for publication in the journal spending fall and winter as a teaches econometrics, public Washington and meetings of the Australian Research Council term sabbatical at the Indian Economics of Governance, and he visiting researcher in experimental economics, and mathematics at the Society for Nonlinear Dynamics for proposed research into the Statistical Institute, New Delhi, has a number of additional working economics and neuroscience at labs postgraduate level. and Econometrics. fluctuation of commodity prices in and the University of New papers on political economy in in France and Italy. a joint project with BHP Billiton South Wales, Sydney, where he the pipeline. See his profile in this Nick Magud’s current research Larry Singell’s research focuses and two researchers from the presented his research (as well as newsletter for more details. Stephen Haynes’s current research concerns the effects of external primarily on human-capital topics, University of Melbourne. She also at the universities of Sydney and includes (with Joe Stone) analysis shocks on income distributions particularly the higher-education received a Research Innovation Melbourne). He continues to serve George Evans was a visiting of the determinants of the and the (political economy) market. A current paper with Glen Award from the University of as the director of master’s studies. scholar at the Federal Reserve popular vote in U.S. presidential macroeconomic and trade-policy Waddell uses data for all Pell Grant Oregon for her “excellent record banks of Cleveland and St. Louis, elections using state-by-state implications. Applications students over the last decade to of research and connection to Ron Davies presented his research visited the University of St. data, and (with UO Ph.D. Avik include the current global food examine whether the expanding external communities.” Her

8 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS 9 Faculty notes Pledges and donations research focuses on stability in the universities of Edinburgh, Army Corps of Engineers. This Pledges by alumni and others to our department giving our department receives. The following is a list network formation, equilibrium for Dundee, and Aberdeen. He teaches past year he was invited and continue to be crucial for supporting students and faculty of contributions received from October 1, 2007 through local public goods, and axiomatic principles of microeconomics, attended a roundtable discussion members in their teaching and research activities. We September 30, 2008 (our apologies for any inadvertent approaches to coalitional problems. labor theory, and theory of of the Organisation for Economic continue to be honored and humbled by the generous errors or omissions). industrial organization, and has Cooperation and Development on $25,000 or more Yoon Trading Company Dona Buck Lehr ‘68 and Ronald Daniel Christ ‘78 Glen Waddell was promoted to recently been introduced into the port and hinterland congestion, Connie and George Slape ‘76 Jessica ‘98 and Sean Ayers ‘05 Lehr ‘76 John Cooper ‘69 Slape Family Revocable Trust Tina Buikat ‘82 Velvet Jones Milkman and Martin Marilee Pederson Davis and David associate professor in the last year, teaching rotation for the Ph.D. held in Paris. In addition, he was Joan ‘65 and Charles Haworth ‘67 Milkman ‘86 Davis ‘98 was named associate editor of the econometrics series. an honorary guest and speaker $10,000-$24,999 Jere Kersnar ‘79 Jane ‘51 and Gerald Moshofsky ‘52 Wilbur De Young ‘43 top education journal Economics of for the global alliance on ports Regence BlueCross BlueShield Kate ‘69 and David Ludwig ‘75 James Murray ‘62 Carolyn Dicharry ‘06 Marvin Waring, Jr. ‘71 Carol and John Mitchell ‘68 Nanae and Norio Nakahara ‘74 Jane Moore Geer and Marshall Geer Education Review, and continues Wesley Wilson continues his at a conference on international KeyBank, N.A. Dawn Whalin ‘91 Charles Novak ‘66 III ‘67 to investigate, among other research in industrial organization transportation in Hong Kong, and Barry Ben-Zion, Ph.D. Gerardo Perez ‘84 Laurie and Michael Grove ‘67 $5,000-$9,999 Hisano and Erven Kincaid Jr. ‘64 Diane ‘54 and Jack Pyle ‘53 Karla Haats ‘82 areas, issues of human-capital and transportation. He continues gave a series of presentations at AARP Robert Adler ‘59 Susan Rolston and Kenneth Wood Mary Nelson Hilton ‘36 and Howard acquisition. He has given papers to work as a visiting scholar various conferences, academic Western Communications, Inc. Inja and Hi Chae ‘74 Jr. ‘58 Hilton at University College, Dublin, and and technical adviser with the departments, and the Army Corps. Bank of the Cascades Elizabeth Smith Evans ‘84 and Hilary and Steven Rothert ‘63 Barbara and Jay Kaylor ‘82 Caren Cole Hardin ‘88 and Timothy A. Matthew Evans ‘82 John Schunhoff ‘74 Helen Kim Hardin ‘87 Henry Herbring ‘63 Frank Slawson ‘64 Noah Leavitt Ryotaro Orito ‘84 Michael Stubblebine ‘71 Carie Arakawa Lee ‘75 and Vernon $2,000-$4,999 Veronica Bachmann and Daniel Linda Davis ‘78 and Thomas Tripp ‘67 Lee ‘75 Cascade Healthcare Community Pantelis ‘80 Robert Volz ‘81 Thomas Lingle ‘00 Richard Spieker ‘00 Anne and Willis Rader ‘62 Celia and Richard Wagner ‘74 Ruth and Alan Mitchell ‘71 Thoma’s blog . . . Pamela and Ernest Ankrim ‘75 Kevin Riley ‘92 Kirk Ward ‘70 Carol and Kent Olson ‘67 Oregon Community Credit Union Robert Schulte ‘75 Dougal Williams ‘97 Kent W. Olson Trust continued from page 1 Port of Portland Loretta ‘56 and Miles Sonstegaard Tristan Wise ‘96 and John Lindberg Marguerite Pennel ‘89 Mercer Health & Benefits LLC ‘58 ‘96 Ryan Pollock ‘05 high-quality research to academic associated with monetary policy blog for each of his classes, which Walter Girdlestone ‘42 Joe Stone Craig Wyly ‘91 Cindy Reid and Bahram Adrangi ‘82 journals. Mark’s research has been is a common feature in textbook goes far beyond the typical course Choongja and Yung-Yong Yang ‘73 Susan Kopel Salamon ‘74 and Gabor primarily concentrated in the fields discussions of monetary policy, website containing a syllabus $1,000-$1,999 $100-$199 Salamon UBS Financial Services, Inc. Andrew Cook ‘90 $50-$99 Mary and Eugene Sayler ‘67 of macroeconomics and monetary but is often ignored by theoretical and homework assignments. On Constance ‘61 and Albert Gutowsky Alexander Coleman ‘07 Cheryl Frase Carnathan ‘79 and Elaine and William Schaedler economics, and has been published models of the macroeconomy. these blogs, Mark posts news ‘61 Department of Administration Donald Carnathan ‘78 Anne and John Schottmiller Sr. Lee Freiermuth ‘76 Kathy Stevens Paul Lenz ‘76 Michael Seeborg ‘69 in journals such as the Journal In a series of papers with stories and analysis relevant to Richard Price ‘75 Trudy Cameron and Gregory Williams Clinton Mikami ‘97 Chris Smith-Hill ‘03 of Econometrics, the Journal Chris Ellis, a fellow member of the course material being covered, Revadee and Aran Thammano ‘62 Clement Ching ‘00 Christopher Schustrom ‘90 Diane and John Smith-Hill of Money, Credit and Banking, the economics department (who which helps students connect the Joyce and Jack Cox ‘60 Lornie McCormick-Goodhart and Terrence Scroggin ‘72 Amy Swingen ‘83 and Lynn Blough Fidelity Charitable Gift Fund Steven Knudsen ‘76 Geoffrey Berg ‘98 Mark-Christopher Weiss ‘06 Economic Inquiry, and The Review is featured on page 2), Mark has academic material in class to its John Ranlett ‘56 Yungja and Suk Yoon ‘72 Rachel Lee and Jason Fee ‘82 Man Wong ‘98 of Economics and Statistics. In a investigated “political business real-world applications. In another Judith and Keith Swayne ‘62 Marcia Hirtenstein and Clyde Wallin Molly and Eric Dodge ‘94 Shawn and Thomas Worstell ‘75 Patricia ‘61 and Warren Tibbles ‘60 ‘74 Christine Carey Jenny Yaillen ‘07 series of papers, Mark explores the cycles,” which are business cycles dramatic use of technology, Mark Greta Nilsson Hutchison ‘79 and Nanci Cummings effects that U.S. monetary policy that result primarily from the posts videos of his classroom $500-$999 Michael Hutchison ‘83 Dianne Danowski-Smith ‘88 and $49 or less actions have had on the economy. manipulation of policy tools by lectures to the course blog, Thomas Iwand ‘59 Mark Brackebusch ‘72 Andrew Smith Richard Fulmer ‘67 Ann and David Worthington ‘73 Coleen Brady Connolly ‘72 and Scott Drumm ‘87 Apex Insurance A theme of the results from this politicians hoping to stimulate the which allows students to watch Marilyn and Mark Bonebrake ‘75 James Connolly Kathy Long Holland ‘81 and John Jerrell Mitch research is that the measured economy just prior to an election. class lectures at their own pace. Diane Sutter Cowin Natalie Green-Giles and Douglas Holland Tamera Cassell effects of monetary policy actions Mark has also written extensively Coming soon is video of Mark Jane and Jerold Gnazzo Giles ‘87 Judy and Maurice Hooff ‘68 PacificSource Health Plans Karen and Kevin Kelly ‘73 Andrew Wood ‘80 Roger Johnson Ann Foster Farrar ‘63 and Jim Farrar are quite unstable across time, and on the topic of statistical modeling answering student questions that Sally ‘73 and Brent Sherfey ‘73 Joy Conklin Eileen Kunze John Naumes ‘03 seem to vary over the business and forecasting. For example, he are submitted via e-mail or during Myriam and Douglas Southgate Jr. PCC Structurals, Inc. Jost Lottes Judith Buszko Dean ‘72 and Edward ‘74 Andrea and Robert Anderson ‘71 Jane MacKinnon Dean ‘71 cycle, with policy actions taken has written a number of papers, office hours. For a sampling of Richard Williams ‘60 David Batchelor ‘96 Ann Mulroney Terri ‘87 and Ross Baker during economic downturns jointly with colleague Wes Wilson, one of Mark’s class blogs, visit Charles Best ‘28 Multnomah County Health Douglas Crumme ‘74 having larger effects than those that investigate forecasting models economistsview.typepad.com/ $200-$499 Daniel Blake ‘70 Department Kristi ‘84 and Douglas Dalenberg ‘86 Effective Information Technologies Joseph Chen ‘99 Karin Murray Marsh and Michael Shadbolt ‘66 taken during expansions. Mark is for transportation flows on U.S. economics470. Patricia and Craig Gustafson Constance and Phillip Church ‘70 Margaret Neal Florence Armstrong ‘43 currently investigating how the waterways. Mark is an important contributor Jimmy Moyer ‘57 Trevor Colhoun ‘02 Sherry ‘69 and Michael Nelson ‘67 Carol and Malcolm Campbell ‘81 Tracy and James Samuel ‘84 Cortez Development Group, LLC Kristen Norquist Meredith and James Nelson ‘77 Federal Reserve might optimally Mark has taught numerous to the internationally recognized Timothy Cooper ‘88 Mary ‘88 and Joaquim Cruz ‘88 Pamela Oleman Rae Jones ‘91 and Robert Rice conduct policy in an environment courses in economics during his status of the Oregon economics Roderick Cruickshank Carol and Burton Deakins ‘65 Tyler Oliver Steven Ross ‘70 where they are uncertain about tenure at Oregon, ranging over a department as well as the Yvonne and Paul Ellison ‘75 Steven Dwight ‘77 Maynard Orme Barbara McIntyre-Slunaker Jennifer Murray Lucy Edwards ‘01 Erik Reynolds Volunteers in Medicine the delay with which their actions variety of levels and fields. He is a department’s reputation for high- Kathleen Prosser Ellen and Gilbert Feibleman ‘72 Joan Salvatore Paula and David Freeman ‘75 will affect the economy. Such passionate teacher, and has been quality, innovative teaching. We are Gail Smith Ben-Zion and Barouch Toni Whited ‘84 and Gennady Fiksel Elizabeth Siegel Barbara Baldwin Ben-Zion ‘68 Thomas Hackett ‘69 Rhonda Smith Molly Burton uncertainty about the “lags” a leader in integrating technology proud to count him as a member of Cheryl Chiene ‘67 Audrey and Christopher Hatfield ‘83 Lynne St. Jean Central Oregon Audiology, Inc. into the classroom. Mark creates a the department. Harold Watts ‘54 Scott Higgins ‘79 Rebecca Wehrli Desert Sage Healing Arts Molly Butler Marilyn Hillman Janz and Lyle Janz John Wilkins Lois Garner Larry Jordan ‘67 Jr. ‘52 Mary ‘90 and Jay Allender William Harris ‘67 June and Thomas Berry ‘77 Kathleen and Stanley Keil ‘70 Michelle Arthington ‘86 Jacqlyn Mikalonis ‘88 and Stephen Ta-Chi Chen ‘76 Suzanne Bollay Kiesz ‘66 and Robert Bruce Blonigen Loges ‘88 Melody and Kim Ferguson ‘73 Kiesz ‘66 Thomas Brookes ‘85 Jeanette Van Kessell Erika Williams ‘02 Chong Kim ‘04 Kristine and Gerald Brooks ‘74 Timothy Kochanski ‘02

10 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS 11 Nonprofit Organization U.S. Postage DEPARTMENT OF ECONOMICS PAID 1285 University of Oregon Eugene OR Eugene OR 97403-1285 Permit No. 63

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Where’s Bill? Professor Harbaugh’s recent meeting with the Dalai Lama adds to his long list of historically significant encounters with world leaders and dignitaries . . .

12 Newsletter of the University of Oregon DEPARTMENT OF ECONOMICS