Is Free Trade Still Optimal in the 21st Century? A Conference Celebrating Rachel McCulloch Rosen Family Professor of International Finance & Chair, Department of Economics Brandeis University June 15, 2007 Participant Biographies Robert Z. Aliber Robert Z. Aliber teaches International Finance at the University of Chicago. He has written extensively about exchange rates, and international financial and banking relationships and policy problems. Recent publications include The International Money Game (Basic Books, First Edition, 1973, Fifth Edition, 1987); National Monetary Policies and the International Financial System (ed., Macmillan, 1976), Corporate Profits and Exchange Risk (Macmillan, 1978, Halstead, 1979), Stabilizing World Monetary Arrangements (Trade Policy Research Centre, 1979), The Reconstruction of International Monetary Arrangements (ed., Macmillan, 1986), The Handbook of International Financial Management (ed. Dow Jones Irwin, 1989), and Global Portfolios (co-editor, Business One Irwin, 1991). He is a co-author (with Thomas Mayer and James S. Dusenberry) of Money, Banking, and the Economy (Norton, First Edition, 1981, Fourth Edition 1990). Aliber wrote one book on personal finance, Your Money and Your Life (Basic Books, 1982). Prior to joining the Chicago faculty in 1965, he was Senior Economic Advisor, Agency for International Development, Department of State (1964-65), and staff economist for the Committee for Economic Development (1961-64) and the Commission on Money and Credit (1959-61). While at Chicago, he developed the Program of International Studies in Business and the Center for Studies in International Finance. He has consulted to the Board of Governors of the Federal Reserve System and to other U.S. government agencies, the World Bank and the International Monetary Fund, and to the research institutes and private firms, testified before committees of the Congress, and lectured extensively in the United States and abroad. He has been Visiting Scholar at the Federal Reserve Bank of San Francisco, Professor at the Salzburg Seminar in American Studies, and National Westminster Professor International Finance at the London Graduate School of Business Studies; he has been a visiting Professor at Amos Tuck School of Business Administration at Dartmouth College, Williams College, and Brandeis. In 1990 Aliber received the O'Melveny and Myers Centennial Award. In 1996, he was a Houblon-Norman Fellow at the Bank of England. James E. Anderson James E. Anderson is William B. Neenan S.J. Millennium Professor of Economics at Boston College. Quoting his web biography, “I have made numerous contributions to the theory of international trade and trade policy. Like most economists, I am a convinced liberal trader. For a discussion of why this is so despite sympathy for poor people who may be harmed by trade, see my essay for the New Palgrave Dictionary of Economics. In the last decade I have focused on index numbers of trade policy. (How high are trade barriers, understanding that there are thousands of them?) My book with Peter Neary (MIT Press, Dec. 2005) integrates and extends this work. Most recently I have focused on other forms of trade barriers which are implicitly visible in trade patterns. One line of research focuses on insecurity and trade. (How much does predation, corruption and poor enforceability of contract limit trade? How do institutions evolve to enable and secure trade?) This line has led me into a parallel research on Mafias. Another line of research focuses on better inference about implicit trade costs using the gravity model and my economic theory of gravity (AER, 1979). Various papers in these lines of research are abstracted below and available for downloading from research downloads. I currently serve on the Editorial Board of the Review of International Economics, and have recently served on the Editorial Boards of the Journal of International Economics and the American Economic Review. I am a Research Associate of the National Bureau of Economic Research and appear in Who's Who in Economics, 3rd Edition. In 1999 I received a Boston College Distinguished Senior Research Award. In 2004 I was appointed William B. Neenan Millenium Professor of Economics at Boston College, the Economics Department's first endowed chair.” Jeffrey H. Bergstrand Jeffrey H. Bergstrand is Professor of Finance in the Mendoza College of Business and Faculty Fellow of the Kellogg Institute of International Studies, both at the University of Notre Dame, where he has been for 21 years. He is also a research fellow of CESifo, based in Munich, Germany. Prior to that, he was a research economist at the Federal Reserve Bank of Boston (1981-1986). He received his BA at Northwestern University in 1974 and his Ph.D. from the University of Wisconsin at Madison in 1981, where Rachel McCulloch was on his dissertation committee along with Robert Baldwin, J. David Richardson and Andre Sapir. He has written numerous articles in international economics on trade flows, free trade agreements, the gravity equation, foreign direct investment, multinational firms, exchange rates, and currency substitution. David Cheong David Cheong is an Assistant Professor of Economics at the Paul Nitze SAIS Johns Hopkins Bologna Center. He received his Ph.D. in Economics from Brandeis University under the tutelage of Rachel McCulloch and Chad Bown. He has taught at Brandeis University, Babson College, and the University of Macau. His current research focuses on Antidumping in Europe and FDI in Asia. Alan V. Deardorff Alan V. Deardorff is Professor of Economics and Public Policy at the University of Michigan. He received his Ph.D. in economics from Cornell University in 1971 and has been on the faculty at the University of Michigan since 1970. He served as Chair of the Department of Economics from 1991 to 1995. He has also served as a consultant to many government agencies, including the Departments of State, Treasury, and Labor of the United States Government, and he is currently on the editorial boards of the Journal of International Economic Law, The World Economy, and North American Journal of Economics and Finance. He is co-author, with Robert M. Stern, of The Michigan Model of World Production and Trade and Computational Analysis of Global Trading Arrangements. He has published numerous articles on various aspects of international trade theory and policy. His work on international trade theory has dealt primarily with the theory of comparative advantage and the Heckscher-Ohlin and other models that explain the patterns and effects of international trade. His work on trade policy has included analyses of anti-dumping laws, the safeguards clause of the GATT, and arguments for and against extending intellectual property protection to developing countries. In his work with Professor Stern, he has developed a computable general equilibrium (CGE) model of production, trade, and employment in 34 major countries of the world. They have used this model for a variety of purposes, including analysis of the Tokyo and Uruguay Rounds of multilateral trade negotiations and possible outcomes of the current Doha Round. He, Professor Stern, and Drusilla K. Brown have also developed a series of four- and eight-country CGE models that they have used to evaluate the sectoral employment implications of various regional trading arrangements in North America, the Western Hemisphere, Asia, and Europe. Professor Deardorff's current research interests include: the role of labor standards in international trade policy, the determinants of bilateral trade patterns, and the roles of trade costs and intermediate inputs in international trade. K.C. Fung K.C. Fung was a Ph.D. student of Rachel McCulloch. His research interests include international trade, the WTO and the East Asian economies. He is currently a Professor of Economics at the University of California, Santa Cruz. He was a senior staff economist at the White House Council of Economic and was awarded a letter of commendation by the President. He was a consultant for the WTO, the World Bank, the Asian Development Bank Institute and the U.S. International Trade Commission (USITC). He had previously taught at Stanford University, Mount Holyoke College and the University of Hong Kong. Claudia Goldin Claudia Goldin is the Henry Lee Professor of Economics at Harvard University and director of the NBER’s Development of the American Economy program. She is an economic historian who interprets the present through the lens of the past and explores the origins of current issues of concern. Her work on the rise of mass education in the United States and its impact on economic growth and wage inequality form the core of a forthcoming book, The Race between Education and Technology (with L. Katz). She is the author and editor of several books, among them Understanding the Gender Gap: An Economic History of American Women. Goldin was recently elected a fellow of the National Academy of Sciences. She is the Gilman Fellow of the American Academy of Political and Social Science, a fellow of the American Academy of Arts and Sciences, and of the Econometric Society. Goldin completed her term as the President of the Economic History Association in 2000 and was Vice President of that association in 1989. In 1991 Goldin was a Vice President of the American Economic Association. From 1984 to 1988 she was editor of the Journal of Economic History and is currently an associate editor of the Quarterly Journal of Economics and a member of various editorial boards. She has won several awards for her teaching of undergraduate and graduate students. Goldin received her B.A. from Cornell University and her Ph.D. from the University of Chicago. Ronald W. Hansen Ronald W. Hansen is Senior Associate Dean for Faculty and Research at Simon Graduate School of Business at the University of Rochester. Dean Hansen is responsible for faculty affairs, faculty research, and faculty recruiting and development, and serves as area coordinator for the concentrations of Applied Statistics, Business Environment and Public Policy, General Business Administration and International Management.