Economics Newsletter
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(FRQRPLFV1HZVOHWWHU 'HSDUWPHQW RI (FRQRPLFV 5XWJHUV 8QLYHUVLW\ 1XPEHU 1HZ 6HULHV :LQWHU 7HQ4XHVWLRQVIRUWKH1HZ 5 87*(56 (FRQRPLFV&KDLUSHUVRQ 81,9(56,7< '(3$570(17 2) 0DUN.LOOLQJVZRUWK (&2120,&6 Phone 732-932-7482 1. How is the job so far? As the man said when he had just stepped off the Fax 732-932-7416 roof of the World Trade Center, 'So far, so good.' http://economics.rutgers.edu 2. Where do you see the Department going over the next 10 years? I [email protected] certainly expect the number of faculty in the department to increase to [email protected] match our growing popularity and student load. I expect to see Rutgers , 16,'( Economics become even more prominent in national rankings as the excellence of our faculty becomes even better known. I believe that we Ten Questions For the Chair p.1 will become a national model for state universities serving a large, diverse Thank You Prof. Alexander p 2. student population and state. Graduate Director Report p. 3 3. Can you give a brief sketch of your background? I was born in Undergraduate Director Report p. 4 Baltimore, grew up in East Lansing, Michigan, and was an undergraduate Graduate Alumni Survey p. 4 at the University of Michigan, where I was editor of The Michigan Daily Faculty Profiles p. 5 and principal bassoonist in the orchestra. For graduate work I went to Graduate Reunion p. 6 Oxford as a Rhodes Scholar, although I didn’t run into Bill Clinton then. I Looking Ahead p. 6 did, however, meet him at a reunion he threw at the White House in the Faculty Research p. 7 days of Zoe Baird and other distractions. I urged him to “stay focused.” He Graduate Alumni News p. 8 gave me an icy stare and replied, “..the problem is not my focus, but the focus of the news media!" In that vein, allow me to say that any problems Undergraduate Survey p. 13 on my watch will likewise be due entirely to the media. I would add that I ODE p. 13 do not expect to grant any pardons, although when my term of service Did You Know? p. 14 ends I may help myself to a desk or two. In the meantime, I hope to In Memoriam p. 15 restore decency, honesty and integrity to the office of chair and to be in bed every night by 10 pm. (The smart people I have to deal with every day make me feel incredibly tired.) )/$6+! We’re hoping to flash the next newsletter to you via 4. Who’s new in the Department? Roberto Chang has joined our faculty email. Please let us know, via after spending seven years at the Federal Reserve Bank of Atlanta. email or old-fashioned phone or Roberto's research interest lie in open-economy macroeconomics and paper mail, whether this works for monetary-fiscal policy. Filippo Occhino has just received his Ph.D. from you, and check the Department the University of Chicago. Filippo's dissertation dealt with an analysis of web site to see if we have your the effects of the monetary policy on the real interest rate in an correct email address. environment where investment in government bonds differs across Advantages: faster, easier, and agents. Filippo and Roberto will add significantly to our macroeconomics more (dare we say it?), econom- core group. See the article elsewhere in the newsletter for a bit more on ical. both. I’d also like to welcome Shalene Montgomery, the Department’s new Receptionist-Secretary. (FRQRPLFV 1HZVOHWWHU 7KDQN<RX3URIHVVRU $OH[DQGHU 5. What’s doing with recruiting? We’ve been very In case you don’t remember or haven’t realized it, this active this year, in a very competitive job market. is the first Newsletter edited by Neil Sheflin (Ph.D’78). The recruiting committees and the entire faculty Neil is open to suggestions, comments, articles, news, have been working quite hard and we are hopeful replacement... you name it. that we will see some excellent results. Stay tuned. We all want to thank Bob Alexander for editing the 6. What’s your favorite New Brunswick Newsletter these past 17 years. As Jack Worrall restaurant? I love to go for lunch at Edo Sushi on (Ph.D.’76 ) wrote on his survey: “The last newsletter Easton Avenue, particularly whenever I have a free issue was fabulous. We owe a lot to Bob Alexander!” week or two. We are pleased that so many alumni have expressed 7. What’s the biggest change you’ve seen in the how much they enjoy reading the Newsletter, University over the last decade? A substantial especially the alumni news. increase in diversity in both the graduate and Huntley George Manhertz (Ph.D.’66) emailed: “Found undergraduate student population. Generally, our the newsletter to be very informative. A very useful link Economics students are better and more in the effort to encourage alumni to keep in touch. interested. We have leaped up in the ratings, Interestingly, I did not realize that Professor Bob mostly since I took office last July. Alexander was so instrumental in its development. 8. What’s Your Favorite Wine? Red Wine: Vosne Heartiest congratulations.” Ananish Chaudhuri Romanée Les Malconsorts 1961 (I think this is my (Ph.D.’97) wrote re the last newsletter: “I loved it.” He birth year). White Wine: Wait for the Spring also sent thanks to Bob Alexander for all his efforts. Newsletter with bated breath. Amarnath Anantharayanan Ph.D’99) emailed [re Newsletter] “Just read it....it is really good. Feel like 9. What are your top two non-economic interests? coming back there again...” Ronald Drennan 1. Opera 2. Wine 3. Wine, Opera and Good (Ph.D.’98) busy at the Department of Justice took time Cooking. to tell us “I look forward to the Newsletter.” Receiving 10. What else is going on with the Department and the Newsletter prompted Veenita Mittal (M.A.’96) to you? This spring the Department will host a call. She said she often wondered how everybody was ceremony and reception to dedicate the doing and “there they were.” She read the entire Economics Library in New Jersey Hall in honor of newsletter and enjoyed it. Mark LeClair (Ph.D,’87) Professor Sidney I. Simon. Professor Simon was a said: “It was great to read in the newsletter about all Professor in the Department from 1947-1982, and the accomplishments of Rutgers alumni. Says great continued to teach for several years after his things about the program.” Zhu Wang (M.A’98) said: “I retirement. Professor Simon died in 1997. His am very glad to receive the recent issue of the incredibly generous contributions and bequests to Newsletter and enjoyed it so much......It is just us were combined into an Endowment Fund. The wonderful!” Zhu is presently at the University of income from this fund has been used to support Chicago. Tom Oberhofer (Ph.D.’73) sent hello to all student awards, conferences, workshops, and and said “thanks for the newsletter.” Vivian Shapiro computer expenses. In a different vein, I’ve also (M.A.’74) wrote: “I enjoy reading the newsletter. been invited to serve on an FAS committee on Thanks for keeping us informed.” Adair Burger gender equity in faculty salaries etc., subjects that Gaudioso (M.A.’82) emailed: “I have enjoyed reading are closely related to many of my research and the newsletters over the years....” teaching interests. On behalf of all of us: Thank you Professor Alexander. (FRQRPLFV 1HZVOHWWHU 5HSRUWRIWKH in Romania." Ioan is now a research fellow at NYU. *UDGXDWH'LUHFWRU Myeong Su Yun (Ph.D.) Supervisor: Mark %DUU\ 6RSKHU Killingsworth "Essays on Labor Supply and Discrimination." Myeong Su accepted a 2 year post Things are continuing to improve and doc from the University of Western Ontario, Canada. change in the graduate program. This year we were Padmasini Sundara Raman (Ph.D.) Supervisor: able to award seven fellowships and four teaching Hiroki Tsurumi, "Towards Robust House Price Index assistantships to entering students. The new Dynamics-An Empirical Investigation of San Diego, fellowships have enabled us to be more competitive CA." Padma just accepted a position with KPMG during recruiting time. The second year research Consulting in Washington, D.C. Two master's paper requirement is in place and is quickly teaching degrees were awarded to Attila Hajos and Wenhui the graduate students the difference between taking Wei who are continuing on to the Ph.D. program exams and doing real research. Each paper was Professor Michael Bordo is the Graduate reviewed by three faculty members in the student's Placement Officer this year. Please let us know of field, after which the papers were judged by the any job openings. We have several Ph.D. students in Graduate Admissions and Standards Committee. The the job market this year, including: Debajyoti best paper will be awarded the Sidney Simon Chakrabarty, Supervisor: Michael Bordo, "Essays on Research Paper Award. The Education and Inequality and Economics Growth," Fields: Curriculum Committee, as well as the Examination and macroeconomics, industrial organization, economic Dissertation Committee, are also considering some development. Vladimir Mares, Supervisor: Martin new changes concerning the M.A. program and the Perry Fields: industrial organization, anti-trust, finance, qualifying examinations. auctions and bargaining. Antu Murshid, Supervisor: We are pleased to have a new faculty member, Michael Bordo Field: international finance. Alexandre Roberto Chang, teaching in the graduate program Voicu, Supervisor: Hiroki Tsurumi, Fields: Professor Chang taught Macroeconomic Theory I in econometrics, labor, transition economics. If you would the Fall and is teaching International Economics II in like to see their c.v.