Martin Boileau recently published "Labor Hoarding, Superior Information, and Business Cycle Dynamics" (with Michel Normandin) in the Journal of Economic Dynamics and Control, 2003; "Capacity Utilization and the Dynamics of Business Cycle Fluctuations" (with M. Normandin) in the Journal of Macroeconomics, 2003; and "How much persistence should sticky-price models generate to match post-war US data" (with Marc-André Letendre) in Economics Letters. He presented his paper "Dynamics of the Current Account and Interest Differentials" at the meetings of the Society for Economic Dynamics in Paris, June 2003. He also gave invited seminars at HEC Montréal, the University of Colorado, and the University of California at Davis. Martin is continuing as the director of the McGuire Center.

Ann Carlos spent the academic year 2003-04 on sabbatical at the Institute for Integrative Studies, Trinity College, Dublin, where she conducted research on risk diversification in early eighteenth century capital markets, funded by the NSF. She gave seminars in Ireland, England, Japan, Australia, and Italy.

Nicholas Flores, along with Randy Walsh and Josh Sidon, finished the first year of their project "Neighborhood Choice, Environmental Justice, and Policy Analysis." This project is funded by the National Science Foundation. Nick has received funding for a new project, "Evaluation of Preferences for Land Management Options," from the USDA Forest Service Experiment station in Fort Collins. The USDA Forest Service also provided additional funding for his project "Institutions and Incentives for Mitigating Wildfire Risks." In relation to work on this project, he was an invited speaker at a National Research Council symposium on managing wildfire risk in the wildland urban interface, August 2004, in Washington.

Frank Hsiao published "Catching Up and Convergence: Long-run Growth in East Asia" (with Mei-Chu W. Hsiao), Review of Development Economics, 8(2), 2004. He was an invited speaker on "Colonialism, Learning, and Convergence--A Comparison of India and Taiwan" (with Mei-Chu Hsiao) at the International Conference on "Catch-Up Growth and Technology Transfer in Asia and Western Europe," University of Groningen, The Netherlands, in October 2003. In January 2004, he organized and chaired a joint session of the American Economic Association/American Committee on Asian Economic Studies on "China's Economic Presence: Implications for the Asia Pacific Region" at the 2004 Allied Social Science Associations Annual Meeting in San Diego, and presented a paper "The Chaotic Attractor of Foreign Direct Investment--Why China? A Panel Data Analysis" (with Mei-Chu Hsiao). The paper was also presented at the CU-Denver Economics Seminar in February, and will be published in the Journal of Asia Economics. Frank also served as a guest editor of this journal. In February, he was invited to talk on "The IT Revolution and World Competitiveness of the Taiwanese Economy-International Comparisons" at the Symposium on Taiwanese Economy sponsored by the North America Taiwanese Professors Association in Orange County, CA. Currently, he is working on "Foreign Direct Investment, Trade, and Growth--Panel Causality Tests for Taiwan, Korea and China" (with Mei-chu Hsiao) to be presented, as an invited speaker, at the 2004 Taipei International Conference on Growth and Development in Global Perspectives, Institute of Economics, Academia Sinica, Taipei, Taiwan.

Frank Hsiao and his student, Chang-suh Park, received the Best Paper of the Year 2002 Award from the editorial board of the Journal of the Korean Economy. "Productivity Growth in Newly Developed Countries--The Case of Korea and Taiwan," was published in the Journal of the Korean Economy, Vol. 3, No. 2, fall 2002.

Phil Graves had four papers published in 2003, one so far in 2004, with another forthcoming, and he currently has a number of manuscripts under review. He gave the following presentations since last reporting on his activities in the summer 2003 newsletter: "Transferring Control of Government Spending to the Voter," at the 28th Annual Conference of the Association of Private Enterprise Education, Las Vegas, April 2003, and at Colorado State University, Department of Economics, October 2003; "Public Policy Implications of Improper Public Goods Valuation: The WTA-WTP Disparity," George Mason University, ICES, September 2003 and at the University of Missouri, October 2003; "Low-Income Female Migration and the Welfare Magnet Effect: New Evidence from CPS Data" and "Linking Regional Science and Urban Economics: Long-Run Interactions among Preferences for Amenities and Public Goods" at the 50th Annual North American Meetings of the Regional Science Association, Philadelphia, November 2003; "The Simple Analytics of the WTA-WTP Disparity for Public Goods" University of Chicago, Department of Economics, Workshop in Economic Policy and Public Finance, December 2003; and "Proper Valuation of Public Goods and the WTA-WTP Disparity: Public Policy Implications," North Carolina State University (presented at RTI), March 2004. As he indicated in last summer's newsletter, several of Phil's papers should be quite fun to read for our former students. Some of them are available on Phil's website at: http://spot.colorado.edu/~gravesp/papers.htm.

Jim Markusen spent the 2003-2004 academic year on sabbatical, headquartered at the Institute for International Integration Studies at Trinity College, Dublin. In addition to working with a number of individuals there, he made a number of trips to give seminars, workshops, and to attend conferences. Some of his longer stays of five days or more included: the European University Institute in Florence, Hitosubashi University in Tokyo, the University of Sydney and the University of New South Wales, The National University of Singapore, City University and the University of Science and Technology, both in Hong Kong. Shorter academic trips included visits to Madrid, Copenhagen, Stockholm, Vienna, Prague, and Reykjavik. A number of papers were started or completed during the year, most focusing on aspects of multinational firms.

Keith Maskus recently published "Competition for Multinational Investment in Developing Countries: Human Capital, Infrastructure, and Market Size," (with David Carr and James Markusen) in Robert E. Baldwin and L. Alan Winters, editors, Challenges to Globalization (University of Chicago Press), 2004; "The Globalization of Private Knowledge Goods and the Privatization of Global Public Goods," (with J. H. Reichman) Journal of International Economic Law, June 2004. His forthcoming publications include: "The Price Impact of Parallel Imports in Pharmaceuticals: Evidence from the European Union," (with Mattias Ganslandt) Journal of Health Economics, 2004; "Vertical Price Control and Parallel Imports: Theory and Evidence," (with Yongmin Chen), World Bank, Policy Research Working Paper 0-2035, Review of International Economics, 2004; and "Intellectual Property Rights in the WTO Accession Package: Assessing China's Reforms," in Deepak Bhattasali, Shantong Li, and William J. Martin, ed., Implications of China's Entry into the World Trade Organization (Oxford: Oxford University Press), 2004. He presented "The Price Impact of Parallel Imports in Pharmaceuticals: Evidence from the European Union," at University of Michigan (March 26), University of Florida (March 9), and University of Wisconsin-Milwaukee (April 30); "Prospects for Improving International Technology Transfer to Poor Countries," at Michigan State University Law School, March 27. Keith was an invited speaker at the European Commission Conference on the Tenth Anniversary of the TRIPS Agreement in the World Trade Organization, Brussels, June 23, and a keynote speaker at the Fundacion Agenda Colombia, Conference on Globalization, Intellectual Property Rights, and Social Equity, Bogota, July 2004.

Robert McNown spent the fall semester as a visiting professor in the Department of Econometrics and Business Statistics at the University of Sydney. In addition to teaching two courses in applied econometrics, Robert presented seminars, based on his work in time series models of fertility behavior, at Monash University in Melbourne, Adelaide University, and in his home department. His recent publications include: "Cointegration Modeling of Fertility in the United States," Mathematical Population Studies, April-June 2003; "Time Series Analysis of Fertility and Female Labor Market Behavior" (with Sameer Rajbhandary), Journal of Population Economics, August 2003; and "A Co-integration Model of Age-Specific Fertility and Female Labor Supply in the United States," Southern Economic Journal, November 2003.

Anna Rubinchik-Pessach has two papers forthcoming: "Can Decentralization Be Beneficial?" University of Colorado at Boulder WP03-09 (forthcoming in the Journal of Public Economics) and "An Inquiry on Efficiency of Federal Assistance for Water Projects based on pre- and post-WRDA data," ZEI Working Paper, 2001 (forthcoming in International Tax and Public Finance). She has presented her work at the second world congress of the Game Theory Society, Marseille, July 2004; Public Choice Society meetings, Baltimore, March 2004; seminar at Concordia University, October 2003; European Econometric Society meetings, Stockholm, August 2003; the sixth conference of the Society for the Advancement of Economic Theory on Current Economic Trends, Rodos, Greece, July 2003; seminar at the University of Konstanz, June 2003; Public Economic Theory Conference, Duke University, June 2003; public economics seminar at CORE, Louvain-la-Neuve, May 2003; Public Choice Society meetings, Nashville, March 2003; and seminar at Southern Methodist University, September 2002.

A Report from the Chair  |  Economics Program Review  |  Remembering Lawrence Senesh
 What Is Public Economics? |  Another Honorable Year, 2003-2004
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