Publications

Grossman Discusses British Stock Market on Economics Blog

Grossman

Richard Grossman

Richard Grossman, professor of economics, authored a blog post on the Vox CEPR website with Gareth Campbell and John Turner (Queen’s University Belfast) titled, “New monthly indices of the British stock market, 1829-1929.”

Although long-run stock market data are an important indicator, obtaining them is challenging. This column constructs new long-run broad-based indices of equities traded on British securities markets for the period 1829-1929 and combines them with a more recent index to examine the timing of British business cycles and compare returns on home and foreign UK investment. One finding is that the capital gains index of blue-chip companies appears to be a good bellwether of macroeconomic behavior.

The post is based on their CEPR and Wesleyan Economics Working Paper, “Before the cult of equity: New monthly indices of the British share market, 1829-1929.”

Brunet’s Dissertation Summarized in the Journal of Economic History

A summary of Assistant Professor of Economics Gillian Brunet’s dissertation, “Understanding the Effects of Fiscal Policy: Measurement, Mechanisms, and Lessons from History,” was published in the June issue of the Journal of Economic History. She wrote the paper while pursuing her PhD in economics at the University of California, Berkeley.

The global recession of 2008 and the resulting fiscal stimulus packages in many countries have reignited academic interest in government spending multipliers. Despite a growing theoretical and empirical literature, there is little consensus on the impact of government spending on macroeconomic aggregates. Gillian Brunet’s dissertation makes significant contributions to this contested literature by focusing on the largest fiscal shock in modern American history—WWII. Besides providing novel estimates of the fiscal multiplier during the war period, her work also seeks to understand how the economic and institutional contexts affect this important statistic.

The dissertation also won the Economic History Association’s 2018 Allan Nevins Prize Competition.

Brunet’s research interests lie at the intersection of economic history, macroeconomics, and public economics. Her work uses microeconomic data to study macroeconomic questions, often in historical contexts. She is particularly interested in understanding the United States economy during and after World War II.

This fall, she is teaching Economics of Alexander Hamilton’s America and Macroeconomic Analysis.

Kuenzel’s Paper Examines the International Monetary Fund’s Forecast Accuracy

David Kuenzel

David Kuenzel

David Kuenzel, assistant professor of economics, is the co-author of a new paper published in the July–August issue of International Journal of Forecasting titled “Forecasts in Times of Crises.”

In the paper, Kuenzel and his co-authors examine the International Monetary Fund’s (IMF) forecast accuracy of 29 key macroeconomic variables for countries in times of economic crises. In general, forecasts of the IMF add substantial informational value as they outperform naive forecast approaches. However, the paper also documents that there is room for improvement: Two-thirds of the examined macroeconomic variables are forecast inefficiently, and six variables (growth of nominal GDP, public investment, private investment, the current account, net transfers, and government expenditures) exhibit significant forecast biases.

These forecast biases and inefficiencies are mostly driven by low-income countries, perhaps reflecting larger shocks and lower data quality. Most importantly, errors in private consumption growth forecasts are the main drivers of GDP growth forecast errors. The results can help to shed light on which macroeconomic variables require further attention by the IMF in designing future forecast models.

The paper is co-authored by Theo Eicher (University of Washington), Chris Papageorgiou (International Monetary Fund), and Charis Christofides (International Monetary Fund).

Kuenzel is also the author of a paper published in the August issue of the Review of International Economics titled “Do trade flows respond to nudges? Evidence from the WTO’s Trade Policy Review Mechanism.” In the paper, Kuenzel examines whether interactions between WTO members through the Trade Policy Review Mechanism, the WTO’s prime transparency institution, lead to subsequent changes in trade flows. This question is of particular interest, as relatively little is known about the economic effects of WTO members’ communications outside of official negotiations and dispute proceedings. Kuenzel’s analysis shows that trade policy concern submissions by WTO members are more likely to lead to positive trade responses when (i) the receiving country is less concerned about terms‐of‐trade losses, (ii) the submitter is more willing to engage in WTO disputes with the reviewed member to challenge controversial trade policies, and (iii) the submitting country challenges trade policies in the nonchemical manufacturing sector. However, nudges through the TPR process are not successful in raising agricultural trade.

A Right to Bear Arms? Coedited by Tucker Explores History of Gun Debate

Jennifer Tucker

Jennifer Tucker

Associate Professor of History Jennifer Tucker is coeditor of a new book, A Right to Bear Arms?: The Contested Role of History in Contemporary Debates on the Second Amendment, published Aug. 20 by the Smithsonian Institution Scholarly Press.

This collection of essays offers a glimpse into how and why historical arguments have been marshaled on both sides of today’s debate over the Second Amendment. It includes writings by leading historians on firearms and the common law (including Saul Cornell, Kevin Sweeney, Joyce Malcolm, Priya Satia, Patrick Charles, Lois Schwoerer, Randolph Roth, and others) and—for the first time in one place—by the lawyers who have served as leading historical consultants in litigation for both sides (Mark Anthony Frassetto, counsel for Everytown for Gun Safety, and Stephen Halbrook, legal counsel for the National Rifle Association).

Taken together, these essays offer both general readers and specialists a valuable study of how history itself has become a contested site within the wider national legal debate about firearms. It fills a major gap in public historical writing about firearms and the law, a field characterized by strong polarities and in which scholarly exchanges among people with different perspectives on the history of firearms are relatively rare.

President Roth Authors New Book on ‘Safe Enough Spaces’

Safe SpacesPresident Michael Roth ’78 is the author of a new book, Safe Enough Spaces: A Pragmatist’s Approach to Inclusion, Free Speech, and Political Correctness on College Campuses, published Aug. 20 by Yale University Press.

In the book, Roth takes a pragmatic and empathetic approach to the challenges facing higher education. He offers important historical, sociological, and economic context, as well as firsthand observations from his decades as a higher ed administrator, to debates over free speech, political correctness, safe spaces, affirmative action, and inclusion. As the book’s title suggests, he envisions a higher education space that is “safe enough” for students to openly explore new ideas and perspectives—even those that are unpopular or cause discomfort—and where no idea is protected from reasoned challenge.

Jenkins Analyzes 200-Year-Old Theatrical Tradition in New Bilingual Book

Ron Jenkins, pictured second from left, celebrated his new book in a garden of an 18th century villa with performances of the play that is the subject of his book, Resurrection of the Saints: Sacred Tragi-Comedy in Venafro. He's pictured with actors, from left, Adriano Cimino, Gianni Di Chiaro, and Emanuela Paolozzi along with the translator of the Italian version of the book, the poet Maria Giusti.

Ron Jenkins (pictured second from left) celebrated his new book in the garden of an 18th-century villa with performances of the play that is the subject of his book, Resurrection of the Saints: Sacred Tragi-Comedy in Venafro. He’s pictured with actors (from left) Adriano Cimino, Gianni Di Chiaro, and Emanuela Paolozzi, along with the translator of the Italian version of the book, the poet Maria Giusti.

Ron Jenkins, professor and chair of theater, is the author of a new book titled Resurrection of the Saints: Sacred Tragi-Comedy in Venafro published by Bulzoni in July 2019 as part of the company’s international series on “Theater and Memory.” The volume is in dual languages; the first part is in Italian, the second translated into English.

Resurrection of the Saints is an analysis of a 200-year-old theatrical tradition in the Italian village of Venafro, where the citizens still perform an 18th-century play that recounts the martyrdom of their patron saints in the third century. In 1792, Giuseppe Macchia wrote the play, “Religion Triumphant” and labeled it “a sacred tragicomedy.”

The book includes Jenkins’s translation of the play and interviews he conducted with the performers, whose professions include nurse, architect, graphic designer, and art restorer.

“Framed as a battle between an angel and a devil for the souls of the saints, the play is a lost link between the medieval traditions of sacred theater and the modern comic masterpieces of the late Italian Nobel Laureate, Dario Fo,” said Jenkins, who has translated Fo’s works for performance at the Yale Repertory Theater, Harvard’s American Repertory Theater, and other venues.

“My experience working with Fo helped me to capture the comic theatrical rhythms of Macchia’s play,” he said. “Anyone interested in the power of the arts to unite a community and preserve the traditions that define its cultural identity would enjoy the play and this book.”

Jenkins is the author of numerous books and was named Honorary Member of the Dante Society of America for having performed theatrical representations of excerpts from Dante’s “Divine Comedy” in prisons throughout Italy, Indonesia, and the United States. Resurrection of the Saints is part of Jenkins’s ongoing research on theater and community.

Shapiro Translates Coran’s RhymAmusings

Norman ShapiroShapiro, Distinguished Professor of Literary Translation and Poet in Residence, is the translator of Pierre Coran’s book, RhymAmusings, published by Black Widow Press in 2019.

“These 78 amusing rhyme-vignettes by preeminent Belgian children’s poet and novelist Pierre Coran speak with an adult sophistication and endearing grace to the ‘child in all of us,’” Shapiro wrote about the book.

Among the poems are “Six Hundred Six Sour Cherries,” “The Little Goldfish,” “Why Do Potatoes Have Eyes,” “Scat, Cats,” “The Whale in My Hat,” and “The Flea and the Elephant.”

Publication of the book was aided by a grant from the Thomas and Catharine McMahon Fund at Wesleyan.

Shapiro is an Officier de l’Ordre des Arts et des Lettres de la République Française and a member of the Academy of American Poets. His many translations have won several major awards over the last 50 years.

Chaplain Mehr-Muska Offers Strategies for Living with Peace and Preparedness

Tracy BookUniversity Chaplain Rev. Tracy Mehr-Muska is the author of a new book titled “Weathering the Storm: Simple Strategies for Being Peaceful and Prepared,” published by Wipf and Stock on April 19.

The book offers simple and proven strategies to develop resilience that will be of benefit to anyone who is yearning to feel more peaceful and prepared. Mehr-Muska draws upon wisdom from different spiritual and religious traditions and from secular scholarship.

“With enthusiasm and passion generated from personal experience, I present the reality that resilience is not inborn, but is instead a simple set of characteristics that can be cultivated,” Mehr-Muska said. “I detail these characteristics; invite readers to identify areas of strength and areas for growth; and provide concrete, proven strategies for building these critical resilience characteristics.”

A Coast Guard veteran, interfaith chaplain, and pastor, Mehr-Muska shares the stories of her own struggles with self-esteem, sexual assault, and miscarriage that inspired her to research resilience. Mehr-Muska brings these characteristics to life using inspirational secular and multifaith stories, as well as compelling scientific evidence. She ties each chapter together with uplifting stories of personal friends who bravely and gracefully overcame obstacles and embody each of these essential characteristics.

Paper by Robinson, Alumni Published in Behavioural Brain Research

Robinson Lab

A paper coauthored by several members of the Robinson Lab is published in the Oct. 3 issue of Behavioural Brain Research, Volume 371.

The coauthors include Mike Robinson, assistant professor of psychology; graduate student Charlotte Freeland, Callie Clibanoff ’19, Anna Knes ’19, John Cote ’19, and Trinity Russell ’17.

The flashing lights and celebratory sounds that dominate slot-machine gambling are believed to promote engagement and motivation to keep playing. However, these cues are often presented in the absence of reward, and previous research suggests that this reward uncertainty, which degrades their predictive value, also increases their incentive value. In their paper titled “Distinguishing between predictive and incentive value of uncertain gambling-like cues in a Pavlovian autoshaping task,” the researchers used a process called autoshaping to tease apart the impact of reward uncertainty on the predictive and incentive value of a conditioned stimulus using serial cues.

The Robinson Lab’s research program seeks to identify how intense incentive motivations are produced by brain systems, both naturally in extreme cases and less naturally, but still powerfully, in pathological addictions. Their areas of interest include the role of cues in diet-induced obesity, the impact of uncertainty in gambling, and how cues produce craving in drug addiction.

Researchers Explore the Effects of Dam Removal on Bottom-Dwelling Aquatic Animals

COE

Kate Miller PhD ’13

Although dam removal is an increasingly common stream restoration tool, it may also represent a major disturbance to rivers that can have varied impacts on environmental conditions and aquatic biota.

In a paper titled “Dam Removal Effects on Benthic Macroinvertebrate Dynamics: A New England Stream Case Study, five researchers from Wesleyan examined the effects of dam removal on the structure, function, and composition of benthic macroinvertebrate (BMI) communities in a temperate New England stream. The benthic—or “bottom-dwelling”—macroinvertebrates are small aquatic animals that are commonly used to study biological conditions of water bodies.

The paper is published in the May 21 edition of Sustainability, an international, cross-disciplinary, scholarly, peer-reviewed and open-access journal of environmental, cultural, economic, and social sustainability of human beings.

Ross Heinemann '09, MA '13

Ross Heinemann ’09, MA ’13

The paper’s coauthors include Helen Poulos, adjunct assistant professor of environmental studies; Barry Chernoff, the Robert Schumann Professor of Environmental Studies; Kate Miller PhD ’13; Ross Heinemann ’09, MA ’13; Michelle Kraczkowski PhD ’13; and Adam Whelchel from the Nature Conservancy in New Haven, Conn.

The results of their study indicated that the dam removal stimulated major shifts in BMI community structure and composition above and below the dam.

“Our research shows that the effects of dam removal on the river were not predictable. During the fours years of the study after dam removal, the river did not return to its original state in the areas where the dam was removed,” Chernoff explained.

Hatch Authors New Book on “The Secret Drugging of Captive America”

Associate Professor Anthony Hatch (Photo by Robert Adam Mayer).

Associate Professor Anthony Hatch (Photo by Robert Adam Mayer).

Associate Professor of Science in Society Anthony Ryan Hatch is the author of a new book, Silent Cells: The Secret Drugging of Captive America, published on April 30 by University of Minnesota Press.

The book is a critical investigation into the use of psychotropic drugs to pacify and control inmates and other captives in the vast U.S. prison, military, and welfare systems.

According to the publisher:

“For at least four decades, U.S. prisons and jails have aggressively turned to psychotropic drugs—antidepressants, antipsychotics, sedatives, and tranquilizers—to silence inmates, whether or not they have been diagnosed with mental illnesses. In Silent Cells, Anthony Ryan Hatch demonstrates that the pervasive use of psychotropic drugs has not only defined and enabled mass incarceration but has also become central to other forms of captivity, including foster homes, military and immigrant detention centers, and nursing homes.

Paper by Kottos, Li ’19 Published in Physical Review Letters

Tsampikos Kottos, professor of physics, and Yaxin Li ’19 are the coauthors of an article titled “Coherent Wave Propagation in Multimode Systems with Correlated Noise” published in the April 18, 2019 issue of Physical Review Letters.

In this study, the coauthors utilize a random matrix theory approach to unveil a physical mechanism that shields wave coherent effects in the presence of disorder (noise).