Tag Archive for economics

Hogendorn Presents Economics Papers in New York and Portugal

Christiaan Hogendorn

Christiaan Hogendorn

On Oct. 3, Christiaan Hogendorn, associate professor of economics, presented a paper titled “Unequal Growth in Local Wages: Rail versus Internet Infrastructure” for the City College of New York’s Economics Department. David Schwartz ’17 co-authored the paper.

And on Oct. 12, Hogendorn presented a paper titled “The Long Tail of Online News Visits” at the 17th Media Economics Workshop in Braga, Portugal. The paper was co-authored by Hengyi Zhu ’15 and Lisa George of Hunter College. He also served as a discussant for a panel on Network-Mediated Knowledge Spillovers in ICT/Information Security.

Khamis Speaks on Labor Markets

Melanie Khamis

Melanie Khamis

Melanie Khamis, associate professor of economics, recently presented two talks.

On Sept. 2, Khamis discussed “Migration and the Labor Market: New Evidence from Mexico” at the Council on Latin American and Iberian Studies at Yale University’s MacMillan Center.

On Sept. 20, she presented a paper titled “Personality, Gender, and the Labor Market” at the European Association of Labor Economists in Uppsala, Sweden. The paper addresses the topic of the effects of personality traits, both controlling for gender and interacting with gender, on labor market-related choices and outcomes.

Coauthors of the paper include Giovanni Hutchinson ’19 and Joyce Jacobsen, former Wesleyan provost and Andrews Professor of Economics.

Wesleyan in the News

NewsIn this recurring feature in The Wesleyan Connection, we highlight some of the latest news stories about Wesleyan and our alumni.

Wesleyan in the News

  1. The Hill: “Analysis: 2020 Digital Spending Vastly Outpaces TV Ads”

The Hill reports on a new analysis by the Wesleyan Media Project, which finds that 2020 presidential hopefuls have spent nearly six times more money on Facebook and Google advertising than on TV ads. President Donald Trump and the Republican National Committee lead the way in digital advertising, having spent nearly $16 million so far. All told, Facebook and Google have raked in over $60 million on online ads this cycle to date. “At this stage in the campaign, candidate spending is driven by supporter list-building and investing heavily to secure enough donors to qualify for the Democratic debates,” explained Associate Professor of Government Erika Franklin Fowler, co-director of the Wesleyan Media Project.

2. Religion News Service: “Sixty Years Later, Only Frank Lloyd Wright Synagogue Continues as ‘Work of Art'”

Joe Siry, Kenan Professor of the Humanities and professor of art history, speaks about Beth Sholom Synagogue, the only synagogue designed by the distinguished architect Frank Lloyd Wright, on the 60th anniversary of its opening. Siry is an expert on Wright’s work, and the author of Beth Sholom Synagogue: Frank Lloyd Wright and Modern Religious Architecture (The University of Chicago Press, 2011). Read an interview with Siry about the book.

3. KERA “Think”: “Do Colleges Really Need Safe Spaces?”

President Michael Roth joins host Kris Boyd for a wide-ranging conversation in connection with his book Safe Enough Spaces: A Pragmatist’s Approach to Inclusion, Free Speech, and Political Correctness on College Campuses. They discuss Roth’s ideas of how to balance students’ needs to feel safe and included on college campuses while keeping them open to exploring new ideas, as well as common misunderstandings about the concept of “safe spaces,” and the effects of the backlash against political correctness. Roth also recently spoke about his book on Tablet Magazine’s “Unorthodox” podcast. (Roth comes in around 49 minutes).

4. WTIC “Todd Feinberg”: “Richard Grossman”

Richard Grossman, professor and chair of economics, is interviewed about what’s going on with the US economy, why he’s not too worried about prolonged low interest rates, concerns over a recession, and what can be done to fix income inequality.

5. Exhale Lifestyle: “Award-Winning Boston Filmmaker Sparks Conversations About Change”

This profile describes how Tracy Heather Strain, professor of the practice in film studies and co-director of the Wesleyan Documentary Project, became a filmmaker specifically because she wanted to make a film about her longtime idol, Lorraine Hansberry. Like Hansberry, the author of the monumental play A Raisin in the Sun, about black families living under racial segregation in Chicago, Strain is “concerned with contemporary society’s obvious injustices.” Strain earned a Peabody Award for her 2017 documentary about Hansberry, Sighted Eyes/Feeling Heart.

Alumni in the News

1. Chicago Sun-Times: “The Music of Alsarah & The Nubatones Transcends Borders, Cultures”

Mary Houlihan profiles Sarah Elgadi ’04, noting, “From a young age, Alsarah, who fronts the Brooklyn group Alsarah & the Nubatones, found refuge in music.” Elgadi was 12 when her family arrived in United States. “Now, years later, the 37-year-old singer, songwriter, bandleader and ethnomusicologist (she has a degree from Wesleyan University) has forged a career with ties to her background, bringing a fresh sound to world music.”

2. Eureka Alert: ”Study: Adults’ Actions, Successes, Failures, and Words Affect Young Children’s Persistence”

The American Association for the Advancement of Science reports on the study led by Julia A. Leonard ’11, MindCore postdoctoral fellow at the University of Pennsylvania, who observes: “Our work shows that young children pay attention to the successes and failures of the adults around them and, reasonably, don’t persist long at tasks that adults themselves fail to achieve.”

3. Boston.gov: “Dr. Taylor Cain [’11] Appointed to Lead Boston’s Housing Innovation Lab”

In the release announcing her appointment, Cain said: “As the new director, I cannot wait to grow the threads of this work. I am looking forward to partnering with the many communities that care deeply about housing in Boston and exploring projects that grapple with the connections between housing, transportation, employment, and other important dimensions of urban life.”

4. NPR.org: “How UAW’s Strike Against GM May Affect Ford and Fiat-Chrysler”

In this interview with New York Times reporter Steven Greenhouse ’73, P’08, author of Beaten Down, Worked Up: The Past, Present and Future of American Labor, NPR host David Greene asks about the strike that the United Automobile Workers union launched earlier this month in more than 30 factories after failing to reach a deal with GM.

5. Core77: ”frog’s Francois Nguyen [’94] is Actively Helping Shape What the Future Looks Like

Writer Alexandra Alexa notes in this interview—which is part of a series on the presenters in this year’s Core77 Conference, exploring the future of the design industry—that Nguyen was one of the lead designers of the original “Beats Studio” headphones by Dr. Dre. She writes: “Even when he’s not working, Francois Nguyen never really stops envisioning what the world might look like. More than a decade into his industrial design career, Nguyen knows a thing or two about staying resilient and nimble as the discipline changes.”

6. International Examiner: “‘Carrie Yamaoka [’79]: recto/verso’ is Not So Much About What You See as How it Happens

Susan Kunimatsu writes about the artist’s retrospective, currently at University of Washington’s Henry Art Gallery through Nov. 3: “Yamaoka is fascinated with transformations, like the moment when exposed photo paper hits the developing chemical and an image starts to appear. Many of her artworks are about capturing that moment.”

Wesleyan in the News

NewsIn this recurring feature in The Wesleyan Connection, we highlight some of the latest news stories about Wesleyan and our alumni.

Wesleyan in the News

  1. The Washington Post: “How the NRA Highjacked History”

In this op-ed, Associate Professor of History Jennifer Tucker writes about the history of the legal debate over the Second Amendment, and explains how the court’s understanding of that history may shape the nation’s response to the current gun violence epidemic. Her op-ed was reported on in The Trace.

2. The Hill: “A Tragic Misperception About Climate Change”

Gary Yohe, the Huffington Foundation Professor of Economics and Environmental Studies, Emeritus, is co-author of this op-ed that argues “The U.S. contributes to global warming not only through its own emissions of greenhouse gases but also by the effect of its behavior on the actions of other countries.” The U.S. must first “get its own house in order,” then take steps to encourage other countries to take similar action to reduce carbon emissions, he writes.

3. Process: a blog for American history: “The Politics of Statehood in Hawai’i and the Urgency of Non-Statist Decolonization”

In this essay, written on the 60th anniversary of the United States claiming the Hawaiian islands as the 50th state of the union, Professor of American Studies J. Kēhaulani Kauanui reflects on the dispute over Maunakea, a sacred mountain that is currently under threat by those who want to construct a major observatory at its summit. She writes that the dispute “can be seen as a microcosm of the history of Hawai‘i’s (U.S.) statehood and earlier American encroachment.”

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.

Paper by Thomas-Franz ’20 Wins Economics Department Prize

A paper written by Kaitlyn Thomas-Franz ’20 was the recipient of the 2018–19 Lebergott-Lovell Prize for the best paper written for a course that uses empirical techniques to analyze an economic problem.

Thomas-Franz wrote the paper “The 1918 Influenza Epidemic and U.S. Female Labor Force Participation” while she was taking Macroeconomic Analysis during the spring 2019 semester. The class was taught by Gillian Brunet, assistant professor of economics.

Honorable mentions included Qiyuan Zheng ’20 for a paper titled “FPI in Emerging Markets: Does the Equity Home Bias Theory Extend?” and Dominic Oliver ’19 for a paper titled “The Determinants of Zoning Regulation.”

Zheng wrote the paper while taking Econometrics during the spring 2019 semester. The class was taught by Anthony Keats, assistant professor of economics.

Oliver wrote his paper while taking Macroeconomic Policy during the spring 2019 semester. The class was taught by Gillian Brunet.

Stanley Lebergott and Michael Lovell, the prize’s namesakes, both held the title of Chester D. Hubbard Professor of Economics and Social Science.

Faculty nominated five papers for the prize.

The committee consisted of Keats, Karl David Boulware, and Abigail Hornstein.

Wesleyan in the News

In this recurring feature in The Wesleyan Connection, we highlight some of the latest news stories about Wesleyan and our alumni.

Wesleyan in the News

1. Where We Live: “The Life and Legacy of American Composer Charles Ives”

Neely Bruce, the John Spencer Camp Professor of Music, is a guest on this show about the legacy of composer Charles Ives. Bruce is the only pianist who has ever played all of the Ives music for solo voice, in a project called the Ives Vocal Marathon, which took place at Wesleyan in 2009. He is also the co-editor of a new collection of Ives songs, a former member of the board of the Charles Ives Society, and the chair of the Artistic Advisory Committee of the society.

2. The New York Times: “Don’t Dismiss ‘Safe Spaces'”

In this op-ed, President Michael Roth argues that while “safe spaces” can be taken too far on college campuses, the much-maligned concept actually “underlies the university’s primary obligations” to its students. He advocates for creating “safe enough spaces,” which “promote a basic sense of inclusion and respect that enables students to learn and grow—to be open to ideas and perspectives so that the differences they encounter are educative.” Roth further explores this topic and many others in his new book, Safe Enough Spaces: A Pragmatist’s Approach to Inclusion, Free Speech, and Political Correctness on College CampusesHe was interviewed recently about the book on several radio shows, including The Jim Bohannon Show, The Brian Lehrer Show, WGBH On Campus Radio, and Wisconsin Public Radio, among others, and published op-eds in the Boston Globe and The Atlantic.

Wesleyan in the News

In this recurring feature in The Wesleyan Connection, we highlight some of the latest news stories about Wesleyan and our alumni.

Wesleyan in the News

  1. The Hill: “Advice on Climate Policy for the 2020 Presidential Candidates”

In this op-ed, Huffington Foundation Professor of Economics and Environmental Studies, Emeritus Gary Yohe and his coauthors write that they are encouraged by the “unprecedented attention being given to climate change among those vying for the 2020 Democratic presidential nomination” and offer words of advice for creating an ambitious but credible climate policy.

2. AINT — BAD: “Isabella Convertino”

The photography of Isabella Convertino ’20 is featured on this website, an independent publisher of new photographic art. According to the article, “Her work has been published by ROMAN NVMERALS press, and was recently acquired by the MoMA library. Convertino’s images speak to the complications of adolescence, compounding memory and trauma as points of departure. Interested in the interplay between familial and gender structures, her work probes modes of power-inheritance and the potential devastation of genetic happenstance.”

3. EOS: “Resurrecting Interest in a ‘Dead’ Planet”

Martha Gilmore, the George I. Seney Professor of Geology, is quoted in this article on new research suggesting that, contrary to popular belief, the surface of Venus actually may be quite active today. “Venus is an Earth-sized planet and now—who knew?!—there are Earth-sized planets all over the galaxy,” said Gilmore. “So now, Venus is even more relevant for that reason.”

4. The Middletown Press: “High School Students from Around World Take Part in Wesleyan Summer Arts Camp”

Sixty-eight Center for Creative Youth (CCY) participants from around the country and the world recently demonstrated the skills they had learned in just a week of intensive art study during a community share day. Wesleyan assumed leadership of CCY in fall 2018 as an official University program, and this is the first time the camp has been offered under Wesleyan’s management.

Members of the Class of 2019 Inducted into Phi Beta Kappa

PBK

On May 25, members of the Class of 2019 were inducted into Wesleyan’s Gamma Chapter of Phi Beta Kappa Society, the oldest national scholastic honor society. The Wesleyan Gamma Chapter was organized in 1845 and is the ninth-oldest chapter in the country.

To be elected, a student must first have been nominated by the department of his or her major. The student also must have demonstrated curricular breadth by having met the General Education Expectations and must have achieved a GPA of 93 and above.

Phi Beta Kappa is the oldest surviving Greek letter society in America, founded in December 1776 by five students who attended the College of William and Mary in Williamsburg, Virginia. The emblem contains the three Greek letters “Phi-Beta-Kappa,” which are the initials of the Greek motto, Philosophia Biou Kybernetes. This essentially means “the love of wisdom is the guide of life.”

The spring 2019 inductees are:

Caroline Adams
Yulia Alexandr
Erin Angell
William Bellamy
Cara Bendich
Zachary Bennett
Chiara Bercu
Sophie Brett-Chin
Nicholas Byers
David Cabanero
Talia Cohen
John Cote 

Grossman in The Conversation: May Jobs Report Suggests a Slowing Economy—and Possibly an Imminent Interest Rate Cut

Richard Grossman

Wesleyan faculty frequently publish articles based on their scholarship in The Conversation US, a nonprofit news organization with the tagline, “Academic rigor, journalistic flair.” In a new article, Professor and Chair of Economics Richard Grossman analyzes the latest jobs report.

May jobs report suggests a slowing economy – and possibly an imminent interest rate cut

The latest jobs data suggests an interest rate cut may be imminent.

The Labor Department reported on June 7 that U.S. nonfarm payroll employment increased by 75,000 in May, while the unemployment rate remained unchanged at 3.6%. This level of job creation was well below economists’ forecasts of about 185,000 new jobs, as well as below the average monthly increase of 164,000 in 2019 and 223,000 in 2018.

Although it’s difficult – even for an economist like me who studies economic policy – to interpret the data reported in any one jobs report as the beginning of a trend, the latest numbers do suggest the Federal Reserve may have to lower its benchmark interest rate to shore up the economy.

That may happen as soon as this month, when the Fed’s interest rate-setting panel, the Federal Open Market Committee, convenes its next meeting June 18-19. A cut would be a sharp reversal from Fed policy as recently as December, when it last raised the rate.