Dr. Dino Falaschetti Web: http://www.doctorfal.com

Through 20 years of experience in business, policy, and inter-disciplinary research and teaching, Dino Falaschetti (PhD, MBA, CPA) has managed Fortune 100 audit-engagements and corporate finance operations, created insightful business analytics and litigation support strategies, and helped develop productive policies for the White House and state legislatures.

Dr. Falaschetti is Associate Professor of Law and Economics at the Florida State University College of Law (with tenure), Professor (by courtesy) in the Departments of Economics and Political Science, and Special Consultant to Economists Incorporated, a premier economic consulting firm in the fields of law and economics, public policy, and business strategy. From 2010-12, he is also serving as the Thomas F. Gleed Endowed Chair in Business Administration, Visiting Professor of Finance and Business Law, and Adjunct Professor of Law at Seattle University. Starting in the summer of 2012, he will become the next Executive Director of the Property & Environment Research Center in Bozeman, MT.

Dr. Falaschetti shares his opinions on politics, law, and economic performance through public and professional speeches, radio and television interviews, and other news and policy media. He previously served the Executive Office of the President as Senior Economist for the Council of Economic Advisers (under President George W. Bush and Chairmen Ben Bernanke and Edward Lazear), held academic appointments at Stanford University, Montana State University, University of California at Berkeley, University of Tennessee, and Washington University in St. Louis, and managed a $1 billion money market portfolio for a Fortune 100 conglomerate.

Dr. Falaschetti earned a PhD in economics from Washington University in St. Louis (with fields in political economy, economic theory, and industrial organization), an MBA with high honors from the University of Chicago Booth School of Business (with concentrations in economics and finance), and a BS with distinction from the Indiana University Kelley School of Business (with a major in accounting and work-in-depth in philosophy). Dino Falaschetti

EDUCATION AND CERTIFICATION

• PhD - Washington University in St. Louis (Economics, December 1999) • AM - Washington University in St. Louis (Economics, 1996) • MBA with High Honors - University of Chicago (Economics and Finance, 1994) • Certified Public Accountant (Illinois, certificate no. 52,878, first sitting, 1990) • BS with Distinction - Indiana University (Business, 1989)

CURRENT POSITIONS

• Property & Environment Research Center, Executive Director (Summer 2012) • Seattle University, Albers School of Business and Economics, Thomas F. Gleed Endowed Chair, Visiting Professor of Finance and Business Law, and Adjunct Professor of Law (2010 – present) • Economists Incorporated, Special Consultant (2010 – present) • Florida State University, College of Law, Associate Professor of Law & Economics (2007 – present, tenured), and Professor of Economics and Political Science (courtesy)

PAST POSITIONS

• Stanford University, Hoover Institution, Campbell National Fellow (2007–09) • Montana State University, Department of Agricultural Economics and Economics, Associate Professor (2006–07, tenured), Assistant Professor (2002–06) • Executive Office of the President, Council of Economic Advisers (President George W. Bush, Chairmen Ben Bernanke and Edward Lazear), Senior Economist for Financial Services and Regulation (2005–06) • University of California at Berkeley, School of Public Health, Robert Wood Johnson Foundation Scholar in Health Policy Research (2001–03) • University of Tennessee, Department of Economics, Assistant Professor and member of the Ph.D. and Physician Executive MBA faculties (2000–02) • Washington University in St. Louis, Center in Political Economy, Fellow (2000) • INDETEC International, Litigation Support Group, Economist (1996–99) • Whitman Corporation, Manager of Corporate Finance for Fortune 100 conglomerate (1991–93), In-Charge and Staff for Financial Audits (1990–91), Intern (1988)

OTHER EXPERIENCE

• Expert Witness: SEC, Holland & Knight, Lorenz Law Firm, Montpelier & Young • Data and Policy Analytics: Bloomberg Government, eBay, Florida Legislature, JMI • Top Secret Security Clearance (2005–06) • Federal Reserve Bank of Minneapolis, Beige Book Contact (2003–06) • Federal Reserve Bank of Kansas City, Visiting Co-Author (2002–04)

Dino Falaschetti Page 2 4/18/12 BOOKS AND ARTICLES

TOP 2% AUTHOR: Social Science Research Network, http://ssrn.com/author=301243 INTERESTS: Politics, law, and economic performance; corporate governance; business regulation and non-market strategy Books 1. Political Economy: Critical Concepts (2011). London: Routledge Major Works Series (edited with Andrew Rutten and Norman Schofield).

• Vol 1. Theory: Social Choice and Elections • Vol 2. Elections and Institutions • Vol 3. Politics, Law, and Economic Performance • Vol 4. Governance

2. Democratic Governance and Economic Performance: How Accountability can go too far in Politics, Law, and Business (2009). New York: Springer-Verlag.

3. Money, Financial Intermediation, and Governance (2008). Edward Elgar Publishing (with Michael J. Orlando, and foreword by Antoine Martin).

4. Constraining Rational Choice: Allocation Versus Efficiency and the Origin of Commitment Problems (2004). In Irwin Morris, Joe Oppenheimer, and Karol Soltan (editors) Politics from Anarchy to Democracy (pp. 110-131). Palo Alto: Stanford Law and Politics (with Gary Miller).

5. Contributions to the Encyclopedia of Healthcare Management (2004). Michael J. Stahl (editor). Thousand Oaks, London, New Delhi: Sage Publications (with Steve Parsons).

Articles 6. A Sex-Difference in Risk-Taking and Promotions in Hierarchies: Evidence from Females in Legislatures (2012). Forthcoming (August) in the Journal of Law and Economics.

7. Dodd-Frank Puts New Risk in Business, Fed Decision-Making (2011). Bloomberg Government, January 31.

8. Dodd-Frank Financial Reform: Will Increased Accountability at Corporations and the Fed Weaken Business Judgments and Price Stability? (2011). InSights, Center for Leadership Formation, Albers School of Business, Winter.

9. Dodd-Frank Financial Reform: Non-Market Risks and Strategies (2010). Economists Ink: A Brief Analysis of Policy and Litigation, Fall.

Dino Falaschetti Page 3 4/18/12 10. Dodd-Frank and Board Governance: New Political-Legal Risks to Monetary Policy and Business Judgments? (2010). Banking and Financial Services Policy Report 29(12):1-7 (with Richard Fidei and Fred Karlinsky).

11. An Information Market Proposal for Regulating Systemic Risk (2010). University of Pennsylvania Journal of Business Law 12(3): 849-98 (with Matthew Beville and Michael J. Orlando).

12. SEC v. Goldman Sachs: Political-Legal Risks and Economic Strategies for Litigators and Transaction Planners (2010). Economists Ink: A Brief Analysis of Policy and Litigation, Spring.

13. Auditor Independence and the Quality of Information in Financial Disclosures: Evidence for Market Discipline vs. Sarbanes-Oxley Proscriptions (2010). American Law and Economics Review 12(1):39-68 (with James Brown and Michael J. Orlando).

14. Shareholder Democracy and Corporate Governance (2009). Review of Banking and Financial Law (Boston University School of Law) 28:553-80.

15. If We Want Low-Priced Homeowners Insurance, We Need Political Risk Insurance (2009). Orlando Sentinel, January 29 (with Christopher Douglass).

16. Can Lobbying Prevent Anticompetitive Outcomes? Evidence on Consumer Monopsony in Telecommunications (2008). Journal of Competition Law and Economics 4(4):1065- 96.

17. Rocking the Fed’s Boat (2008). Hoover Digest (4):47-52 (with Michael J. Orlando).

18. When Deficits Make Sense (2008). Hoover Digest (3):72-5.

19. Does a Hospital’s Profit Status Affect its Operational Scope? (2008). Review of Industrial Organization 33(2):129-59. Awarded Best Paper by a Junior Author by the Industrial Organization Society (with Marco Castañeda).

20. Aggregate Health Expenditures, National Income, and Institutions for Private Property (2005). Economics & Politics 17(3):391-429.

21. Cutting the Dividends Tax…and Corporate Governance Too? (2005). Corporate Ownership & Control 3(2):31-4 (with Michael J. Orlando).

22. Optimization in the Production of Governance Services: Lessons for the Regulation of Auditor Independence (2004). Financiële Studievereniging Rotterdam (FSR) Forum 6(2):16-23 (with Michael J. Orlando).

23. Credible Commitments and Investment: Do Checks on the Ability or Incentive for Opportunism Matter? (2003). Economic Inquiry 41(4):660-74.

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24. Is Auditor Independence Endogenous? Evidence and Implications for Public Policy (2003). Research Division Working Paper 03-13, Federal Reserve Bank of Kansas City (with Michael J. Orlando).

25. Can Theoretically Latent Groups Influence Policy Decisions? The Case of Telecommunications Policy (2003). Journal of Law, Economics, and Organization 19(1):83-105.

26. Golden Parachutes: Credible Commitments or Evidence of Shirking? (2002). Journal of Corporate Finance 8(2):159-78.

27. Does Partisan Heritage Matter? The Case of the Federal Reserve (2002). Journal of Law, Economics, and Organization 18(2):488-510.

28. Book review of Usha Haley’s (2001) Multinational Corporations in Political Environments. New Jersey, London, Singapore, and Hong Kong: World Scientific. Published in the 2002 International Journal of Organizational Analysis 10(3):290-2.

29. Constraining Leviathan: Moral Hazard and Credible Commitment in Constitutional Design (2001). Journal of Theoretical Politics 13(4):389-411 (with Gary Miller).

Dissertation (supported by the Center in Political Economy, Washington University) Decisions, Decisions, Decisions: Essays on How Interested Individuals Influence Collective Choices

Committee and readers: Marcus Berliant (chair), Gary Miller, Robert Parks, Norman Schofield, Lee Benham, and Itai Sened

TEACHING

• MBA, Leadership Executive MBA, and Physicians Executive MBA: Corporate Financial Management, Corporate Law (An Economic Approach), Finance of Philanthropy, Financial Institutions and Markets, Investments, Managerial Economics, Managerial Finance, Market Failure, Transaction Cost Leadership • Law: Business Associations, Corporate Finance, Corporate Law (An Economic Approach), Economic Regulation of Business, Insurance Law (A Law, Policy, and Political Economy Approach) • Graduate: Macroeconomics, Math for Economists, Microeconomics • Undergraduate: Economics and Politics of Strategy, Financial Institutions and Markets, Health Economics, Macroeconomics, Microeconomics, Money and Banking

Dino Falaschetti Page 5 4/18/12 PRESENTATIONS

2012 1. Ismaili Business Owners and Professionals (Keynote address, Space Needle, Seattle) 2. Seattle University (Leadership Executive MBA) 3. Seattle University (School of Law) 4. State of the Florida Insurance Market Summit (Amelia Island, FL) 5. Florida State University (College of Law)

2011 6. Northwestern University Law (Conference on Empirical Legal Studies) 7. Property & Environment Research Center (Board of Directors Address) 8. Property & Environment Research Center (Lone Mountain Fellow Address) 9. Seattle University (Conference on Politics, Law, and Business) 10. Florida State University (College of Law) 11. Seattle University (Leadership Executive MBA) 12. Seattle University (Gleed Chair Speaker Series on Fed Policy) 13. State of the Florida Insurance Market Summit (Orlando, FL)

2010 14. Venture Out Investment Club (Mesa, AZ) 15. Seattle University (Gleed Chair Speaker Series on Dodd-Frank Act) 16. Princeton University (American Law and Economics Association) 17. Indiana University (Kelley School of Business) 18. Florida Chamber Property Insurance Summit (Orlando, FL) 19. State of the Florida Insurance Market Summit (Orlando, FL) 20. Seattle University (Albers School of Business and Economics)

2009 21. NERA Economic Consultants (New York, NY) 22. Capital Campus California (Mercatus Center at GMU and UC Berkeley Law) 23. Stanford University (Hoover Institution) 24. University of San Diego (American Law and Economics Association) 25. Florida State University (College of Law) 26. Florida State University (Economics of Crime Symposium) 27. Florida House of Representatives (Office of the Speaker-Designate) 28. Florida Chamber Property Insurance Summit (Orlando, FL) 29. University of Chicago Alumni Club (Tallahassee, FL) 30. Capital Campus Florida (Mercatus Center at GMU and Florida State Law) 31. Florida Senate (Select Committee on Florida’s Economy) 32. State of the Florida Insurance Market Summit (Orlando, FL)

2008 33. University of Texas (Law, Business & Economics) 34. Cornell University (Corporations, Shareholders, and Policy) 35. Cornell University (Law and Economics)

Dino Falaschetti Page 6 4/18/12 36. Washington University in St. Louis (CNISS) 37. University of Toronto (ISNIE) 38. Florida State University (Political Science) 39. Florida State University (Economics)

2007 40. State of the Florida Insurance Market Summit (Orlando, FL) 41. NYU School of Law (Conference on Empirical Legal Studies) 42. Washington University in St. Louis (Center in Political Economy) 43. Kiwanis International (Bozeman, MT) 44. Midwest Political Science Association (Chicago, IL) 45. Gallatin Association of Realtors (Bozeman, MT) 46. Florida State University (College of Law) 47. Naval Postgraduate School (Business and Public Policy) 48. Santa Clara University (Economics) 49. Opportunity Link (Keynote address, Great Falls, MT) 50. Tulane University (Economics)

2006 51. Aspen Pointe Speakers Series (Bozeman, MT) 52. Montana Council on Economic Education (Keynote address, Helena, MT) 53. University of Colorado (ISNIE) 54. Federal Reserve Bank of Kansas City 55. The White House (Center for the Study of the President) 56. George Washington University (Washington Area Finance Association) 57. NERA Economic Consultants (San Francisco, CA)

2005 58. Southern Economic Association (Washington, DC) 59. Department of Homeland Security (Washington, DC) 60. Public Choice Society (New Orleans, LA)

2004 61. University of Guelph (Economics) 62. Stanford University (Society for Political Methodology) 63. Western Economic Association (Vancouver, BC) 64. Washington University in St. Louis (Center in Political Economy)

2003 65. Montana State University (Conference on Collective Action) 66. Robert Wood Johnson Scholars in Health Policy Research (Aspen, CO)

2002 67. Western Economic Association (Seattle, WA) 68. Robert Wood Johnson Scholars in Health Policy Research (Aspen, CO) 69. Vanderbilt University (Midwest Macroeconomics Conference)

Dino Falaschetti Page 7 4/18/12 70. Public Choice Society (San Diego, CA) 71. Montana State University (Agricultural Economics & Economics)

2001 72. Washington University in St. Louis (CNISS) 73. University of California at Berkeley (ISNIE) 74. Vanderbilt University (Economics) 75. Public Choice Society (San Antonio, TX) 76. University of Maryland (Political Science)

2000 77. Midwest Political Science Association (Chicago, IL) 78. Midwest Economic Association (Chicago, IL) 79. Public Choice Society (Charleston, SC) 80. University of Tennessee (Economics) 81. Yale University (RWJF Scholars) 82. University of California at Berkeley (RWJF Scholars) 83. West Virginia University (Economics) 84. Econometric Society (Boston, MA)

1999 85. Econometric Society (University of Wisconsin) 86. Michigan State University (Political Science) 87. World Bank (ISNIE) 88. Purdue University (Midwest Economic Theory) 89. Midwest Political Science Association (Chicago, IL) 90. Public Choice Society (New Orleans, LA)

1998 91. Midwest Political Science Association (Chicago, IL)

MEDIA APPEARANCES

• Interviewed on KOMO News Radio, Seattle, WA, February 7, 2011, on “Layoffs become rarer even with unemployment high.” • Featured interview on “FSU Headlines” (WFSU, FM 88.9, NPR affiliate for northwest Florida), December 1, 2009, for book on Democratic Governance and Economic Performance: How Accountability Can Go Too Far in Politics, Law, and Business. • Quoted in “American Woman Shares Nobel in Economics.” Washington Times, October 13, 2009. • Quoted in “Consumer Group Urges Insurance Bill Veto.” Bradenton Herald (Tampa, FL), May 5, 2009. • Featured guest on “Open Range” (KMMS, AM 1450, Fox News affiliate for southwest Montana), June 28, 2007. Topic – “Retirement Security.”

Dino Falaschetti Page 8 4/18/12 • Featured guest on “Open Range” (KMMS, AM 1450, Fox News affiliate for southwest Montana), June 18, 2007. Topic – “Money 101.” • Featured guest on “Open Range” (KMMS, AM 1450, Fox News affiliate for southwest Montana), May 21, 2007. Topic – “The Fed.” • Featured guest on “Open Range” (KMMS, AM 1450, Fox News affiliate for southwest Montana), April 2, 2007. Topic – “Affordable Housing.” • Featured in “Poor People Need More Opportunities, MSU Economist Says.” Bozeman Daily Chronicle (Montana), February 27, 2007. • Featured in “Poverty Should be Fought on Personal Level.” Great Falls Tribune (Montana), January 28, 2007. • Featured in “Economist Brings White House Experience to MSU Business Students.” Dillon Tribune (Montana), November 29, 2006. • “White House Advisor at MSU.” Miles City Star (Montana), November 28, 2006. • Featured in “Economist Brings White House Experience to MSU.” Bozeman Daily Chronicle (Montana), November 27, 2006. • Featured in “MSU Instructor Returns from Advising at the White House.” Miles City Star (Montana), November 27, 2006. • Featured in “Presidential Adviser Returns to MSU.” Great Falls Tribune (Montana), November 26, 2006. • Featured in “Economist Brings White House Experience to MSU Students.” Sidney Herald–Leader (Montana), November 26, 2006. • Written testimony for US Treasury Secretary John Snow, quoted in “White House Opposes Muni-Bond Bailout.” Wall Street Journal, October 7, 2005, p. C4. • Featured in “MSU Economist Picked to Advise White House.” Bozeman Daily Chronicle (Montana), July 1, 2005. • Interviewed on “Social Security Reform.” KXLF (CBS television affiliate for southwest Montana), June 27, 2005. • Quoted in “Full Steam Ahead: Local Economy Continues to Gain Ground After Year of Record Growth.” Business to Business: A Trade Journal for Southwest Montana, February 17, 2004. • Featured in “Interest Rates.” Business to Business: A Trade Journal for Southwest Montana, September 30, 2003.

SERVICE

PROFESSIONAL

• Referee/Reviewer – American Journal of Political Science, American Law and Economics Review, American Political Science Review, Cambridge University Press, Comparative Political Studies, Economic Inquiry, Economics & Politics, Industrial and Corporate Change, Journal of Economic Behavior and Organization, Journal of Economics, Journal of Law, Economics, & Organization, Journal of Law, Economics, & Policy, Journal of Public Administration Research and Theory, Journal of Public Economic Theory, Journal of Theoretical Politics, National Science Foundation, Public Finance Review, Review of Economics and Statistics, Southern Economic Journal

Dino Falaschetti Page 9 4/18/12 • Chair/Discussant – Conference on Empirical Legal Studies, Conference on Politics, Law, and Business, Econometric Society, International Society for New Institutional Economics, Midwest Economic Association, Midwest Political Science Association, Public Choice Society, Western Economics Association

UNIVERSITY, COLLEGE, AND DEPARTMENT

• Seattle University – Arrupe Seminar; Dean’s committee on Faculty Research Standards; Faculty Research Support; Politics, Law, and Finance Group; Provost’s committee on Centers of Excellence • Florida State Law – Moot court; Capital Campus Florida (with the Mercatus Center at George Mason University); Law, Business, and Economics (co-editor of SSRN Journal); Healthcare Law Society; Middle Eastern Law Students’ Association; JD/MBA, MS, and PhD joint degree programs • Montana State University – Department advisory (2); Graduate affairs; Junior search; Masters theses (4); Political Economy Group • University of Tennessee – Graduate program; Macroeconomic search; Masters thesis (mathematics); Ph.D. qualifying exams for microeconomic theory and public finance; Undergraduate honors thesis • Washington University – President of Graduate Student Association; Seminar in Political Economy

CONFERENCE SPONSORSHIP AND ORGANIZATION

• Conference on Politics, Law, and Business, Albers School of Business and Economics, Seattle University, August 18-19, 2011 • Roundtable on QE2: The Politics, Economics, and Business of Easy Money, Albers School of Business and Economics, Seattle University, February 16, 2011 • Roundtable on Dodd-Frank Financial Reform: Opportunities and Risks for Legal, Financial, and Business Professionals, Albers School of Business and Economics, Seattle University, October 7, 2010 • Corporate Governance and US Economic Performance: A View from the Council of Economic Advisers. Distinguished lecture by the Honorable Randall S. Kroszner, University of Chicago, February 25, 2005 • Studies in Public and Private Governance, Vancouver, BC, June 30 – July 3, 2004 (a set of organized panels for the Western Economic Association) • Conference on Collective Action, Montana State University, July 25-26, 2003

COMPETITIVE ACADEMIC AWARDS

• Montana State University: Research enhancement awards (3); Buy-out for Enhancing Scholarship and Teaching (BEST) • University of Tennessee: Scholarly research grant • Washington University: Center in Political Economy Dissertation Fellow, John Stuart Mill Graduate Fellow, John M. Olin Fellow, summer research grants (3)

Dino Falaschetti Page 10 4/18/12 REFERENCES

David Brady James Brown Daniel Covitz Deputy Director Assistant Professor Associate Director Hoover Institution Department of Finance Research and Statistics Stanford University Iowa State University Federal Reserve Board Stanford, CA 94305 Ames, IA 50011 Washington, DC 20551 Stephen Day Robert Fleck Rick Geddes Managing Director Professor Associate Professor Navidar Group, LLC John E. Walker Department of Policy Analysis and Management New York, NY 10017 Economics Cornell University Clemson University Ithaca, NY 14853 Clemson, SC 29634 Jonah Gelbach Gary Hoover Fred Karlinsky Yale Law School Assistant Dean Shareholder P.O. Box 208215 Economics, Finance, and Colodny, Fass, Talenfeld, New Haven, CT Legal Studies Karlinsky & Abate, P.A. 06520-8215 University of Alabama Ft. Lauderdale FL 33394 Tuscaloosa, AL 35487 Randall Kroszner Michael Orlando Scott Roeth Norman R. Bobins Professor Principal Executive Vice President Booth School of Business Economic Advisors, Inc. 1-800-Doctors University of Chicago Denver, CO 80209 Woodbridge, NJ 07095 Chicago, IL 60637

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