The Economics PhD program is an academically rigorous curriculum for students interested in pursuing advanced study and doing original research in economics. This program develops professional economists for a variety of careers in teaching, in government, in industry, or with international agencies in the United States and abroad.
A distinctive and important feature of our program is the willingness of faculty to involve graduate students in their research, providing an environment that nurtures scholarship and leads to collaborative research efforts culminating in joint papers written with faculty. Consequently, our students often graduate with completed research papers that are well advanced in the publication process. Below is a selection of recent publications by our recent PhD graduates from 2007 onwards, many of whom continue to produce scholarly work with our faculty (for a selective list of faculty publications since 2010, see here).
Drew Creal, Chicago (Booth), PhD ‘07
Creal, D. “A Class of Non-Gaussian State Space Models with Exact Likelihood Inference,’’ Journal of Business & Economic Statistics, forthcoming.
Creal, D. and Tsay, R. "High-dimensional Dynamic Stochastic Copula Models ," Journal of Econometrics, Vol. 189, No. 2, pp. 335-345, 2015
Creal, D. and Wu, J. W. "Estimation of Affine Term Structure Models with Spanned or Unspanned Stochastic Volatility", Journal of Econometrics, Vol. 185, No. 1, pp. 60-81, 2015
Creal, D., Schwaab, B., Koopman, S. J., and Lucas, A. "Observation-driven Mixed Measurement Dynamic Factor Models with an Application to Credit Risk", The Review of Economics and Statistics, Vol. 96, No. 5, pp. 898-915, 2014
Creal, D., Gramacy, R., and Tsay, R. "Market-based Credit Ratings", Journal of Business and Economic Statistics, Vol. 32, No. 3, pp. 430-444, 2014
Creal, D., Koopman, S. J., and Lucas, A. "Generalized Autoregressive Score Models with Applications", Journal of Applied Econometrics, Vol. 28, No. 5, pp. 777-795, 2013
Creal, D. "A Survey of Sequential Monte Carlo Methods for Economics and Finance", Econometric Reviews, Vol. 31, No. 3, pp. 245-296, 2012
Creal, D., Koopman, S. J., and Lucas, A. "A Dynamic Multivariate Heavy-Tailed Model for Time-Varying Volatilities and Correlations", Journal of Business and Economic Statistics, Vol. 29, No. 4, pp. 552-563, 2011
Creal, D., Koopman, S. J., and Zivot, E. "Extracting a Robust U.S. Business Cycle using a Time-Varying Multivariate Model-based Bandpass Filter", Journal of Applied Econometrics, Vol. 25, No. 4, pp. 695-719, 2010
Creal, D., Koopman, S. J., and Shephard, N. "Testing the Assumptions Behind Importance Sampling", Journal of Econometrics, Vol. 149, No. 1, pp. 2-11, 2009
Creal, D., Oh, K. H., and Zivot, E. "The Relationship Between the Beveridge-Nelson Decomposition and Other Permanent-Transitory Decompositions that are Popular in Economics", Journal of Econometrics, Vol. 146, No. 2, pp. 207-219, 2008
Harrison Fell (North Carolina State), PhD ‘07
Fell, H. and D. Kaffine. “Think locally, act locally: Can decentralized planning really achieve first-best in the presence of environmental spillovers?” Journal of Environmental Economics and Management, 2014, 68(1): 46-53
Fell, H. and J. Linn. Renewable Electricity Policy, Intermittency, and Cost-effectiveness. Journal of Environmental Economics and Management, 2013, 66(3): 688-707
Fell, H. and A. Haynie. Spatial Competition with Changing Market Institutions. Journal of Applied Econometrics, 2013, 28(4): 702-719
Fell, H., D. Burtraw, R.D. Morgenstern, and K.L. Palmer. Soft and Hard Price Collars in a Cap-and-Trade System: A Comparative Analysis. Journal of Environmental Economics and Management, 2012, 64(2):183-198
Fell, H. and A. Haynie. Estimating Time-varying Bargaining Power: A Fishery Application. Economic Inquiry, 2011, 49(3):685-696
Jun Ma (Alabama), PhD ‘07
Ma, J., Fairchild, J., and Wu, S. “Understanding Housing Market Volatility”, Journal of Money, Credit, and Banking, forthcoming.
Ma, J., Wohar, M., and Balke, N. “A Bayesian Analysis of Weak Identification in Stock Price Decompositions,” Macroeconomic Dynamics. June 2015
Ma, J. and Wohar, M. “An Unobserved Components Model That Yields Business and Medium-Run Cycles,” Journal of Money, Credit and Banking. October 2013
Ma, J. and Ding, L. “Portfolio Reallocation and Exchange Change Rate Dynamics,” Journal of Banking and Finance. August 2013
Ma, J., Balke, N., and Wohar, M. “The Contributions of Economic Fundamentals to Movements in Exchange Rates,” Journal of International Economics. May 2013
Ma, J. “Long-Run Risk and Its Implications for the Equity Premium Puzzle: New Evidence from a Multivariate Framework,” Journal of Money, Credit and Banking. February 2013
Ma, J. and Enders, W. “Sources of the Great Moderation: A Time-Series Analysis of GDP Subsectors,” Journal of Economic Dynamics & Control. January 2011
Kwok Ping (Byron) Tsang (Virginia Tech), PhD ‘08
Sun, X. & Tsang, K.P. (2014): "Optimal Interest Rate Rule in a DSGE Model with Housing Market Spillovers," Economics Letters, 125(1), 47-51
Dave, C. & Tsang, K.P. (2014): "Recursive Preferences, Learning and Large Deviations," Economics Letters, 124 (3), 329-334
Chen, Y. & Tsang, K.P. (2013):"What Does the Yield Curve Tell Us About Exchange Rate Predictability?" Review of Economics and Statistics, 95(1), 185–205
Startz, R. & Tsang, K.P. (2010):"An Unobserved Components Model of the Yield Curve," Journal of Money, Credit and Banking, 42(8), 1613-1640.
Saraswata Chaudhuri (UNC), PhD ‘08
Chaudhuri, S., Jalan, J., and Somanathan, E. “Awareness and the demand for environmental quality: survey evidence on drinking water in urban India”, Environment and Development Economics. 14: 665 – 692. (2009)
Chaudhuri, S. and Zivot, E. “A comment on weak instrument robust tests in GMM and the New Keynesian Phillips Curve”, Journal of Business and Economic Statistics. 27: 328 – 331. (2009)
Chaudhuri, S., Richardson, T., Robins, and Zivot, E. “A new projection-type split-sample score test in linear instrumental variables regression”, Econometric Theory. 26: 1820 – 1837. (2010)
Chaudhuri, S. and Zivot, E.“A new method of projection-based inference in GMM with weakly identified nuisance parameters”, Journal of Econometrics. 164: 239 – 251. (2011);
Chaudhuri, S. and Renault, E. “Shrinkage of Variance for Minimum Distance based Tests”, [Forthcoming in Econometric Reviews]
Chaudhuri, S. and Guilkey, D. “GMM with Multiple Missing Variables”, [Forthcoming in Journal of Applied Econometrics]
Juyoung Cheong (Queensland), PhD ‘09
Cheong, Juyoung, Kwak, Do Won and Tang, Kam Ki (2015) Heterogeneous effects of preferential trade agreements: how does partner similarity matter? World Development, 66 222-236
Cheong, Juyoung, Kwak, Do Won and Tang, Kam Ki (2014) Can Trade Agreements Curtail Trade Creation and Prevent Trade Diversion? Review of International Economics, 23 2: 221-238
Cheong, Juyoung, Kwak, Do Won and Tang, Kam Ki (2014) Can Trade Agreements Curtail Trade Creation and Prevent Trade Diversion? Review of International Economics, 23 2: 221-238.
Michael Hansen (Brookings), PhD ‘09
Hansen, M. and Goldhaber, D. “Is It Just a Bad Class? Assessing the Long-term Stability of Estimated Teacher Performance” Economica (2013) 80 (319): 589-612
Hansen, M. and Goldhaber, D. “Using Performance on the Job to Inform Teacher Tenure Decisions”, American Economic Review Papers and Proceedings (2010) 100 (2): 250-255
Murat Koyuncu (Bogazici), PhD ‘09
Koyuncu, M. and Turnovsky, S. J. "Endogenous Growth with Heterogeneous Agents and Progressive Taxation," Journal of Public Economic Theory, accepted for publication.
Koyuncu, M. “Can progressive taxation account for cross-country variation in labor supply?” Journal of Economic Dynamics and Control, 2011, Vol. 35, 1474-1488.
Koyuncu, M. and Turnovsky, S. J. " Aggregate and Distributional Effects of Tax Policy with Interdependent Preferences: The Role of ‘Catching Up with the Joneses,’” Macroeconomic Dynamics, 2010, Vol 14, Supplement S2, 200-223
Edwin Wong (NW Center/UW Health Services), PhD ‘10
Wong E. S., Lucia, K., Price, S., and Startz, R. “The Changing Relation Between the Canadian and U.S. Yield Curves.” Journal of International Money and Finance, Sep 2011; 30(6): 965-981
Mark Anderson (Montana St.), PhD ‘11
Anderson, M. and Sabia, J.“The Effect of Parental Involvement Laws on Teen Birth Control Use,” 2016. Journal of Health Economics 45: 55-62.
Anderson, M. and Rees, D. “Deployments, Combat Exposure, and Crime,” 2015. Journal of Law and Economics 58: 235-267.
Anderson, M., Cesur, R., and Tekin, E. “Youth Depression and Future Criminal Behavior,” 2015. Economic Inquiry 53: 294-317.
Anderson, M. “In School and Out of Trouble? The Minimum Dropout Age and Juvenile Crime.” 2014. Review of Economics and Statistics 96: 318-331.
Anderson, M., Hansen, B., and Rees, D. “Medical Marijuana Laws, Traffic Fatalities, and Alcohol Consumption,” 2013. Journal of Law and Economics 56: 333-369.
Anderson, M. "Does Information Matter? The Effect of the Meth Project on Meth Use among Youths," Journal of Health Economics, June 2010.
Troy Scott (Lewis & Clark/RTI), PhD ‘11
Khalil, F., Lawarrée, J., and Scott, T., "Private Monitoring, Collusion, and the Timing of Information," RAND Journal of Economics 46.4 (2015), 671–917.
Joelle Abramowitz (Census Bureau), PhD ‘13
Abramowitz, J. “Turning Back the Ticking Clock: The Effect of Increased Affordability of Assisted Reproductive Technology on Women’s Marriage Timing,” Journal of Population Econ, 27(2): 603-633 (2014)
Sui Luo (Capital), PhD ‘13
Startz, D. and Luo, S., “Is it one break or ongoing permanent shocks that explains US real GDP”? Journal of Monetary Economics 66 · August 2014
Shamma Alam (Dickinson), PhD ‘14
Alam, S. “Parental Health Shocks, Child Labor and Educational Outcomes: Evidence from Tanzania” (Forthcoming in Journal of Health Economics)
Alam, S., and Wolff, H. “Do Pesticide Sellers Make Farmers Sick? Health, Information and Adoption of Technology in Bangladesh,” (Forthcoming in Journal of Agricultural and Resource Economics)
Jaeho Kim (Oklahoma), PhD ‘14
Kim, J. and Kim, C. J. “Bayesian Inference of Regime-Switching ARMA Models with Absorbing States: Dynamics of Ex-Ante Real Interest Rate under Structural Breaks,” Forthcoming at Journal of Business and Economic Statistics
David Keunzel (Wesleyan), PhD ‘14
Kuenzel, D. and Eicher, T. S. “The Elusive Effects of Trade on Growth: Export Diversity and Economic Take-Off,” 2016. Canadian Journal of Economics.
Alice Su (National Taipei), PhD ‘14
Su, A., “Information Acquisition and the Equilibrium Incentive Problem,” Journal of Economics & Management Strategy, forthcoming.
Daniel Brent (Louisiana St.), PhD ‘14
Brent, D., Cook, J., and Olsen, S. “Social Comparisons, Household Water Use and Participation in Utility Conservation Programs: Evidence from Three Randomized Trials,” Journal of the Association of Environmental and Resource Economists, 2015.
Ruixuan Liu (Emory), PhD ‘15
Chen, H., Fan, Y., and Liu, R. "Inference for the correlation coefficient between potential outcomes in the Gaussian switching regime model," 2016. Journal of Econometrics, 195, 255-270.
Li, H., Li, Q., and Liu, R. "Consistent model specification tests based on k-nearest-neighbor estimation method," 2016. Journal of Econometrics, 194, 187-202.
Liu, R. and Fan, Y. “A Direct Approach to Inference in Nonparametric and Semiparametric Quantile Models,” 2016. Journal of Econometrics, 191, 196-216.
Liu, R. and Fan, Y. “Symmetrized Multivariate k-NN Estimators,” 2015. Econometric Reviews, 34: 827-847.
Kaihua Deng (Renmin), PhD '15
Deng, K. "A Refined Asymptotic Framework for Dividend Yield in Predictive Frameworks," 2016. Economics Letters, 138: 60-63.
Deng, K. "Another Look at Large-Cap Stock Return Comovement: A Semi-Markov-Switching Approach," 2016. Computational Economics, 1-36.
Deng, K. "A test of asymmetric comovement for state-dependent stock returns," 2016. Journal of Empirical Finance, 36, 68-85.
Deng, K. and Walker, T. "Is the US quantitative easing more effective than China's? A second thought," 2016. China Economic Review, 38, 11-23.
David Oxborrow (KPMG), PhD '16
Mukhopadhyay, S. and Oxborrow, D. "The Value of an Employment-Based Green Card," 2012. Demography, 49, 219-237.
Laine Rutledge (current PhD student)
Rutledge, L., Wydick, B., and Glewwe, P. “Does International Child Sponsorship Work? A Six-Country Study of Impacts on Adult Life Outcomes." April 2013. Journal of Political Economy 121 (2): 393 - 436.
Jennifer Meredith (current PhD student)
Meredith, J., Robinson, J., Walker, S., and Wydick, B. “Keeping the doctor away: Experimental evidence on investment in preventative health products.” 2013. Journal of Development Economics 105, 196-210.