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2024 Spring

victor-gay-headshotVictor Gay

Lecture: "Weapons of Mass Production. World War I and the Modernization of the French Economy." (joint work with Anne Alonzo and Ronan Tallec).

May 9-10, 2024

Abstract: During the World War I, annual government spending in France reached unprecedented levels, accounting for 50 percent of GDP. A significant portion of this spending was allocated to support industrial warfare at a time when the country's industrial cradle in the North-East was unavailable for production. Using original archival data on war procurement contracts, we examine whether these large but temporary wartime industrial investments fostered the modernization of the French economy during the interwar period. We find that locations that received relatively more wartime industrial investment experienced a sustained postwar expansion of their manufacturing sector. This expansion was driven by an increased concentration of industrial firms together with sectoral shifts in the composition of the labor force within locations, rather than by a reallocation of labor across locations. In contrast, we find little evidence that the war induced capital deepening and technological change.

Bio: Victor Gay has been an assistant professor of economics at the Toulouse School of Economics (TSE) since 2018. His research lies at the intersection of economic history, labor economics, and the economics of culture, with a focus on the economic history of France.

 


sarah-quincy-headshotSarah Quincy

Lecture: "The Great Depression Bank Deregulation Wave"

April 18-19, 2024

Lecture Flyer

Abstract: We demonstrate that one of the largest waves of bank deregulation in the United States occurred in the immediate aftermath of the Great Depression when states, for the first time in their histories, meaningfully relaxed limitations on bank branching. By the eve of the interstate branching deregulations of the 1970s, over 70% of banking offices were already part of a branch network. However, the overall prevalence of branching belies significant and persistent geographic heterogeneity as banking regulation had remained largely unchanged in the subsequent decades. Using a county border pair design, we show that this early wave of deregulation immediately improved financial and economic outcomes, and these gaps continued through the rest of the century.

 


dan-friedman-headshot

Dan Friedman

Lecture: "Can the Flow Market Format Outperform the Continuous Double Auction?"

April 8 - April 12, 2024

Lecture Flyer

Abstract: New computer and telecommunications technology creates new opportunities (and new pitfalls) for creating and testing novel market formats. After a brief survey of recent innovations with special focus on financial markets and high frequency trading, I will present the first laboratory test of the Flow Market format recently proposed by Pete Kyle and Mina Lee. In a fairly basic `contracts' environment, I and my coauthors, Kristian Lopez Vargas and Yilin Li, find that  compared to the CDA, the Flow market exhibits fewer and larger orders. The two formats achieve similar price and allocative efficiency, but Flow Markets have lower price volatility and trade volume. Interestingly, period-to-period improvement in most performance metrics is faster in Flow markets than in CDA.


Bio: Daniel Friedman is now part-time Professor of Economics at University of Essex and full-time Distinguished Professor Emeritus at UCSC Economics, where he served on the faculty since 1985 after starting at UCLA and UC Berkeley. He has broad research interests in applied economic theory, with emphasis on learning and evolution, laboratory experiments, and financial markets. He is coauthor of five academic books, fourteen NSF grants, and over 100 research articles. His popular book, Morals and Markets: An Evolutionary Perspective on the Modern World, was published by Palgrave-MacMillan in October 2008. A second paperback edition, co-authored with journalist Daniel McNeill, appeared in June 2013 with the subtitle: A Dangerous Balance.

 


roaring girlConference - Feminomics: Women and Market Economies

March 30, 2024

Feminomics Program

The participants will include:

Linda Scott, University of Oxford
Amy Louise Erickson, University of Cambridge
Jayme Lemke, Mercatus Center at George Mason University
Melissa Thomasson, Miami University
Magatte Wade, African Prosperity Activist and Entrepreneur
Deirdre McCloskey, University of Illinois at Chicago

 


mccloskeyDeirdre McCloskey

In-Class Collaboration & Feminomics Conference Lecture: "Women and the Great Enrichment"

ECON/ENG/PHIL 357

March 25-April 5, 2024

Bio: Deirdre Nansen McCloskey is Distinguished Professor Emerita of Economics and of History, and Professor Emerita of English and of Communication, at the University of Illinois at Chicago. Trained at Harvard in the 1960s as an economist, she has written twenty books and some four hundred academic articles on economic theory, economic history, philosophy, rhetoric, statistical theory, feminism, ethics, and law. She taught for twelve years at the University of Chicago in the Economics Department in its glory days, but now describes herself as a “literary, quantitative, postmodern, free-market, progressive-Episcopalian, ex-Marxist, Midwestern woman from Boston who was once a man. Not ‘conservative’! I’m a Christian classical liberal.”

 


stelios

Stelios Michalopoulos

Lecture: "Movies" (with Chris Rauh).

March 13-15, 2024

Lecture Flyer

Bio: Stelios Michalopoulos is the Eastman Professor of Political Economy at Brown University, a Research Associate at the NBER, and a Research Fellow of the CEPR. A native of Argos, Greece, Stelios holds a B.A. and MSc from the Athens University of Economics and Business and a Ph.D. in Economics from Brown University. In 2010-2011 he was the Deutsche Bank Member at the Institute for Advanced Study at Princeton. In the Spring of 2015, he was a visiting Assistant Professor at Harvard Business School, in 2016 a visiting Professor at INSEAD, and a Senior Scholar at the Minneapolis Federal Reserve Bank in 2017. Stelios is the recipient of the 2015 Excellence Award in Global Economic Affairs from the Kiel Institute for the World Economy and the recipient of the 2019 Bodossaki Prize in the field of Social Sciences a biennial award bestowed to scientists of Greek origin up to 40 years of age.

His work has been funded by the NSF and DFID among others. His primary research interests lie in the intersection of political economy, culture, growth, and comparative development. He has published in leading peer-reviewed economic journals including the American Economic ReviewEconometricaJournal of Political Economy, and the Quarterly Journal of Economics.

 


Shoshana Grossbard

Lecture: "Paying for Household Services within the Family."

February 26, 2024

Bio: Shoshana Grossbard is a resident scholar in the Economics department and the Center for Health Economics and Policy Studies at San Diego State University, founding editor of Review of Economics of the Household published by Springer since 2003, past Fellow at the Center for Advanced Studies in the Behavioral Sciences at Stanford, and founder and past president of the Society of Economics of the Household. Her books include On the Economics of Marriage, Marriage and the Economy and The Marriage Motive (Springer, 2015). She is a research affiliate with the Family Inequality Network (HCEO, University of Chicago), IZA and GLO.

 


Patricia Limerick

In-Class Collaboration

ECON/ENG/PHIL 357

January 16-17, 2024

Bio: Patty Limerick is a Professor of History of the American West. After years of work in the territory of Applied History, Patty is now the Director of the Applied History Initiative. From 1986 to 2022, Patty Limerick was the Faculty Director and Chair of the Board of the Center of the American West at the University of Colorado. A tenured Professor of History at CU Boulder, Limerick has dedicated her career to bridging the gap between academics and the general public and to demonstrating the benefits of applying historical perspective to contemporary dilemmas and conflicts. Limerick is also known as an energetic, funny, and engaging public speaker, sought after by a wide range of Western constituencies that include private industry groups, state and federal agencies, and grassroots organizations. 

 


Steven Skultety

In-Class Collaboration

ECON/ENG/PHIL 357

January 8-11, 2024

Bio: Steven Skultety’s research focuses on the way ancient philosophers understood human beings who were at odds with one another. Currently his work concentrates on Aristotle’s political philosophy, but his long-term goal is to produce work that will track arguments about interpersonal conflict from the Presocratics to the Stoics. Outside of ancient philosophy, his research interests include virtue theory, republicanism, as well as democratic theory. 

Skultety received his B.A. in Philosophy from the University of Montana in 1999 and then began his Ph.D. at Northwestern University. In 2006, he successfully defended his dissertation and joined the faculty at the University of Mississippi.  In 2012, he became Associate Professor of Philosophy and Chair of the Department of Philosophy and Religion.  In 2020, Skultety was promoted to Professor, and in 2021, became Director of the Declaration of Independence Center for the Study of American Freedom. 

 


Brad Birzer

Class Collaboration via Zoom

ECON/ENG/PHIL 357

January 8, 2024

Bio: Brad Birzer holds the Russell Amos Kirk Chair in American Studies and is a Professor of History at Hillsdale College, Michigan. In 2010, he co-founded The Imaginative Conservative website, and, in 2012, co-founded Progarchy.com, a site dedicated to the exploration of music in all of its various forms.  He also writes for Ignatius Insight, Catholic World Report, and CatholicVote. For the 2014-2015 school year, he had the wonderful honor of being the “Scholar in Residence” and “Visiting Scholar in Conservative Thought and Policy,” at University of Colorado-Boulder. 

Birzer is the author of several books and scholarly articles.