Volume 18, Number 1, Spring, 1998
Tim Bollerslev Accepts Kreps Chair
Macro/International Economics Group Expands
Martin Bronfenbrenner Dies at 82
Anne Krueger Gives Bronfenbrenner Memorial Lecture
Professor William P. Yohe Retires
Goodwin Wins Scholar/Teacher Award
George Tauchen Named Distinguished Professor
Kent Kimbrough to Co-Edit Southern Economic Journal
Excerpts from "Archiving the History of Economics"
Enrollments Surge; DeMarchi Succeeds Grabowski as DUS
Graduate Fellowships and Awards
Eight Undergraduates Complete Honors Theses
In April, Tim Bollerslev accepted the Juanita and Clifford Kreps Chair in Economics. An internationally know econometrician, Tim is best known for his invention of the GARCH (generalized autoregressive conditional heteroskedasticity) and his expertise in financial econometrics and asset volatility. He comes to Duke at a time when world attention is focused upon the sometimes wild fluctuations of international financial markets. The techniques developed by Tim and his co-workers are routinely used to model and understand the effects of volatility as it spills over from one financial market to another.
After receiving his Ph.D. from the University of California - San Diego in 1986, Bollerslev went to the Economics Department and then to the Kellogg Graduate School of Management at Northwestern University, becoming the Nathan S. and Mary P. Sharpe Professor of Finance in 1995. The following year he moved to the University of Virginia as Commonwealth Professor of Economics (roughly equivalent to James B. Duke Professor at Duke). Tim's research garners over 200 citations a year. He is active in the NBER, serves on the editorial boards of nine professional journals in econometrics and finance, and travels routinely to meetings around the world.
Tim's influence has spread to Political Science and other disciplines. In support of his hire, Fuqua faculty wrote "Professor Bollerslev is one of the most influential researchers in empirical finance. In 1982, Professor Robert Engel published a paper on Autoregressive Conditional Heteroskedasticity (ARCH),... designed to capture the patterns in serial changes in volatility in macroeconomic time series. In 1986, Professor Bollerslev published a generalized version of ARCH, called Generalized Autoregressive Conditional Heteroskedasticity (GARCH). Since then, the empirical finance literature has found that for describing financial time series, GARCH [dominates all other] statistical models. Hundreds of papers have been written using GARCH to model [the fluctuations in returns to] stocks, bonds, interest rates, and commodities."
Prior to Tim's arrival, under the leadership of George Tauchen and Ron Gallant (whose main appointment is at UNC, but who sits here weekly in his role as Research Professor), Duke established a well known research nexus in financial econometrics, bringing together faculty from both the Economics Department and the Fuqua School at Duke with faculty from the Economics Department at UNC. Arguably, Tim's arrival ensures that this Triangle Nexus in Financial Econometrics will be second in the world, second only to the huge and preeminent financial econometrics group at the University of Chicago.
With the generous support of Juanita and Clifton Kreps, in December 1985 the University established the "Juanita and Clifton Kreps Distinguished Professorship of Economics Fund". As most every alum knows, Dr. Juanita Kreps has been associated with Duke University for her entire career, now holding the title James B. Duke Professor of Economics Emeritus and serving on the Board of Directors of the Duke Endowment. Among her many honors and achievements, Dr. Kreps served as U.S. Secretary of Commerce under President Jimmy Carter, and earlier as Dean of the Women's College at Duke University, shepherding its merger with the Men's College to become Trinity College of Arts and Sciences. Her course on the economics of poverty was beloved by generations of undergraduates. In the early days of the Women's Movement, her book Sex in the Marketplace (The Johns Hopkins Press, 1971) was an early chronicle of sex discrimination in the U.S. labor market. Dr. Clifton Kreps, her husband is Wachovia Professor of Banking Emeritus at the University of North Carolina.
Globalization of the world economy has focused intellectual attention on open-economy macroeconomics, economic growth, and institutional innovations such as NAFTA and the coming of a common currency to the European Community in 1999. The Department now boasts a strong, young, and exciting group in this area. Building on our base of Kent Kimbrough, Ed Tower, and (fourth-year Assistant Professor) Pietro Peretto, we added Enrique Mendoza and Michelle Connolly in the Fall of 1997. Vincenzo Quadrini will arrive this fall.
While these additions are individually important, heightened intellectual excitement pervades their activities. They have already merged the International with the Macroeconomics Workshop, brought in participants from Fuqua, and seek additional interactions with faculty at UNC and NCSU. A plan to reorganize the core courses is in the works. As can be seen in the brief biographies of the newest members below, this group already interacts strongly with faculty in the Fuqua School of Business, the Law School and the Department of Political Science.
Upon receipt of his Ph.D. from the University of Western Ontario in 1989, Enrique Mendoza spent eight years in Washington, D.C., briefly at the International Monetary Fund and a long stint in the International Finance Division of the Board of Governors of the Federal Reserve System. His Washington years were interlaced with visits to the University of Rochester (Winter 1997) and University of Maryland (1995 and 1996). He joined us in the Fall 1997 as an Associate Professor.
Mendoza specializes in macroeconomics and international macroeconomics. He has published on a variety of topics including herding behavior and capital flows. His paper, "The International Ramifications of Tax Reforms: Supply-Side Economics in a Global Economy (with Linda Tesar)," just appeared in the March 1998 issue of the AER. Mendoza's research focuses on global capital flows, economic fluctuations, stabilization policies, currency crises and both internal and international structural reforms. Upon arrival at Duke, Mendoza stepped into a leadership role in the new Sawyer Seminar on Globalization and Democracy, as well as in both the Latin American and North American Studies Programs where he serves on both executive committees. Professor Mendoza enjoys traveling, reading works by Latin American novelists - - his favorites are Carlos Fuentes and Gabrial Garcia Marquez - - and spending time with his family.
After receiving her Ph.D. from Yale University in 1996, Michelle Connolly spent a year as an economist in international research at the Federal Reserve Bank in New York, and joined the Duke faculty as Assistant Professor of Economics in Fall 1997. Specializing in international economics, growth, and development economics, her research focuses on the implications of technological progress and diffusion, of international trade, and of human capital on the growth and development of economies. Professor Connolly teaches advanced graduate macroeconomics and intermediate undergraduate macroeconomics. She enjoys dancing and Tae Kwon Do.
Vincenzo Quadrini received his Ph.D. in Economics from the University of Pennsylvania in August 1996, writing on "Entrepreneurship, Saving and Social Mobility." For the past year he has been Assistant Professor of Economics at the Universitat Pompeu Fabra in Barcelona, Spain, teaching macroeconomics and economic growth. He will join us in the Fall 1998 as an Assistant Professor, jointly appointed by the Department of Economics and the Fuqua School of Business. Quadrini's expertise includes advanced monetary theory, income distribution, other macroeconomic problems involving heterogeneous agents. Hence, some of his empirical work is based on microeconomic panel data. Quadrini and Tom Cooley of Rochester are currently working on a series of papers on monetary policy, financial markets and firm dynamics. He is best known for his paper with P. Krusell and V. Rios-Rull, "Are Consumption Taxes Really Better Than Income Taxes," published in the June 1996 issue of the Journal of Monetary Economics.
Internationally known economist Martin Bronfenbrenner, William R. Kenan Jr. Professor Emeritus of Economics and Duke's first Kenan Professor, died Monday, June 2, 1997 in his Durham, North Carolina home. He was 82.
Revered by colleagues and students for his boundless intellectual curiosity and love of teaching, Bronfenbrenner was best known for his contributions to macroeconomics, including the study of wages and inflation, his work on the distribution of income, his scholarship on comparative economic systems, and his expertise on the Japanese economy. In the days of compulsory retirement, he retired a bit early from Duke so as not to lose the opportunity to go on teaching which he did as professor of international economics at Aoyama Gakuin University, Tokyo, Japan. Returning to Durham in 1991 for reasons of health, he nonetheless continued to attend conferences, teach one course per semester, and to supervise honors theses until illness prevented him from continuing in Spring 1997.
Born in Pittsburgh, Pennsylvania on December 2, 1914, Bronfenbrenner received his B.A. from Washington University in St. Louis in 1934, his doctorate from the University of Chicago in1939, and went on to teach at Roosevelt University, the University of Wisconsin, Michigan State University, the University of Minnesota and Carnegie Mellon University, where he served as department chair. According to former Duke President Terry Sanford, Bronfenbrenner's arrival as Kenan Professor in 1984, "marked the beginning of our determined effort to establish distinguished chairs [at Duke]."
Dr. Bronfenbrenner published over 250 scholarly papers and five books. At Duke he chaired or served on 32 Ph.D. dissertation committees. Fluent in Japanese, he also published a fiction collection, "Tomioka Stories from the Japanese Occupation," based upon his postwar experience in Japan as a language officer.
Bronfenbrenner held a Fulbright appointment in Japan, and visiting appointments at the Center for Advanced Study in Behavioral Sciences at Stanford University, the University of Sussex in England, and most recently at the Federal Reserve Bank of San Francisco. He was a Fellow of the American Academy of Arts and Sciences, Vice President of the American Economic Association (1975) and President of both the Southern Economic Association (1979) and the History of Economics Society (1983).
Shortly before his final illness, Bronfenbrenner was named a Distinguished Fellow of the American Economic Association. In January, AEA President Arnold Harberger presented the award and a citation to Teruko Bronfenbrenner at the annual awards ceremony of the AEA in Chicago. The citation [below] captured not only Martin's wide-range scholarly contributions, but also his famous, self-deprecating humor: "Doubtless I shall end, if I live long enough, 'knowing nothing about everything,' as against the specialist's 'knowing everything about nothing.'"
Dr. Bronfenbrenner is survived by his wife, Teruko Okuaki Bronfenbrenner, of Durham; a son, Kenneth Bronfenbrenner, of New York; a daughter and grandson, June K. Bronfenbrenner-Walker and her son, Brian J. Walker, of Severna Park, Maryland.
On Saturday, June 7, 1997 the auditorium at the Forest at Duke overflowed as many of Martin's friends, students, and colleagues gathered in a memorial service. In December former colleague Ann Krueger spoke at a memorial lecture in his honor [article below]. When Bronfenbrenner became emeritus in 1984, as a lasting tribute, the Department established a graduate fellowship that bears his name. His family has contributed generously to this fellowship and requested that, in lieu of flowers, memorial contributions be sent to the fund that supports this fellowship, The Martin Bronfenbrenner Economics Endowment Fund, Office of Gift Records, Box 90581, Duke University, Durham, 27708 (checks payable to Duke University, with note for Martin Bronfenbrenner Fund).
The Duke Economics Department Home Page has posted a short, unpublished, autobiographical article by Professor Bronfenbrenner as well as an interview and his obituary at:
Martin Bronfenbrenner once said about himself, "Doubtless I shall end, if I live long enough, 'knowing nothing about everything,' as against the specialist's 'knowing everything about nothing.'" Indeed, Professor Bronfenbrenner's interests spanned several important areas of economics and even beyond it. His contributions are in areas ranging from income distribution theory, monetary economics, fiscal economics, business cycle theory, imperfect competition, labor economics and production theory on one hand to economic development, Marxian economics, comparative economic systems, history of economic thought and international economics on the other. His interest in the development of the Japanese economy deserves special mention. In today's world of specialization, Professor Bronfenbrenner towered over the discipline as a member of that fast-disappearing class of generalists.
His most influential papers include "Some Fundamentals of Liquidity Theory," Quarterly Journal of Economics (May, 1945), "Price Control under Imperfect Competition," American Economic Review (March, 1947), "A Contribution to the Aggregative Theory of Wages," Journal of Political Economy (October, 1957), "Notes on the Elasticity of Derived Demand," Oxford Economic Papers (October, 1961) and his landmark survey with Franklyn D. Holzman, "Survey of Inflation Theory," American Economic Review (September, 1963). Among his several books, Income Distribution Theory (Aldine Atherton, Chicago, 1971), continues to be an authoritative work in its area. His macroeconomics textbook, Macroeconomic Alternatives (AHM Publishing Corporation, Arlington Heights, 1979) remains unparalleled in its treatment of alternative economic systems."
On Friday, December 5, 1997, Professor Anne O. Krueger honored the life and work of Martin Bronfenbrenner in a memorial lecture entitled "NAFTA: Myth and Reality." In attendance were many from the Economics Department community, including faculty, students, staff and family members. Krueger's lecture filled the LaBarr Lecture Hall. A reception followed [see photo below].
Professor Krueger was a student of Bronfenbrenner's, then his colleague, at the University of Wisconsin, and later his colleague again at Duke. She left Duke in 1993 to become the Herald L. and Caroline L. Ritch Professor in Humanities and Sciences, and Director of the Center for Research on Economic Development and Policy Reform at Stanford University.Professor Allen C. Kelley opened with a tribute to Bronfenbrenner, in which he noted the many faces of Martin's distinction, including his roles as faculty member, scholar, and teacher, but also his frequent participation in campus debates on issues ranging from college athletics to political correctness, and his role as ambassador of economics to other departments. Kelley concluded that, "It is impossible to provide a tribute truly befitting the life of Martin Bronfenbrenner in anything less than a lengthy period. However, I'm pretty sure that Martin would feel quite uncomfortable with the idea of a detailed chronicling much beyond what has already been said. Instead, we've decided the best way to honor him is to grapple with some controversial ideas, propositions, arguments - - all sustenance to the intellect to which he devoted his life."
Professor Krueger opened with some memories, reflecting that: "Martin is probably the most intellectually curious person I have ever known. If the ideal of the university is to question everything, and to use reason to address it, no one I have ever known has come closer to that ideal." After a compelling lecture on the pros and cons of NAFTA and a highly animated bout of audience questions, Krueger concluded: "But the last question is whether Martin would agree with me. We know, being Martin, that he could not completely. He'd argue. I can't begin to think what his objections would be, but they would be there, and I'd love to hear them because I would learn something yet again."
On September 1, 1998, Professor William P. Yohe will retire after 40 years in the Department of Economics. Yohe received his A.B. from Kenyon College and came to Duke in 1958 after completing his Ph.D. at the University of Michigan. He has taken leaves to work at the Center for Advanced Study in the Behavioral Sciences (1964-65) and the Federal Reserve Bank of St. Louis (1969-70). For many years he has been the mainstay in teaching Money and Banking (Econ 153), Macroeconomics (Econ 154), and Business Cycles and Economic Forecasting (Econ 157S), all of which make extensive use of microcomputers. A pioneer in the use of PCs in the classroom, his recent research has ranged from the early history of economic research at the Federal Reserve Board to the construction of quarterly simulation models of the U.S. economy in the 1890's, World War I, the Great Depression, and World War II. From 1985 to 1997 he served as Associate Editor for Economics of the Social Science Computer Review. A comprehensive instructional package, "Interactive Money and Banking," was published in 1995. Yohe is currently writing "Interactive Intermediate Macroeconomics," another computer-based instructional package (with Blackwell and Guy Judge) (forthcoming in 1998). He will also continue to teach one course for the Department each spring.
This has been an eventful year, so much so that publication of the Newsletter got pushed from the middle to the end of the academic year. Hence, this issue profiles two "new" faculty who arrived last Fall (and are by now well integrated into Department affairs) Enrique Mendoza and Michelle Connolly, as well as two who will join us next Fall, Tim Bollerslev and Vincenzo Quadrini. In other major changes, Administrative Assistant Peggy East retired April a year ago to Charlotte; Kris McGee now works for Kerry Smith over at NSOE, and Tracy Kuczak is off to California, working for the Bureau of Labor Statistics. We didn't know if we would survive all of these staff changes, but happily, Betty Henderson and Ann Lacey ably took over in 215 as Administrative Assistant and Staff Specialist, respectively, working as a team to keep everything running. And, yes, that was Peggy you saw here from time to time during the last year -- she has agreed to come back for peak loads.
The highlight of this year was adding Tim Bollerslev to our faculty, concluding the search to fill the Kreps Chair. Over the last few years this Chair played a major catalytic role in the Department, a role that went beyond recruiting the first holder of this chair. For Juanita and Clifford Kreps' generous gift, as well as for their interest in the progress of the University and scholarship in this Department, all of us in the Department are extremely grateful.
Congratulations to George Tauchen, named Glasson Professor of Economics, and to Kent Kimbrough, appointed Co-editor in the totally revamped Southern Economics Journal. A letter from Associate Dean Wesley Magat of the Fuqua School commended Henry Grabowski for his course on Pharmaceutical Policy and Management which ranked amongst the top in Fuqua's course offerings last Spring. Congratulations also to instructors David W. Johnson and Charles J. Skender, both nominated for the 1996-97 Alumni Distinguished Undergraduate Teaching Award. Finally, the Department tied for 19th in U.S. News and World Report's annual rankings of U.S. graduate and professional schools.
Our nine standing workshop series continue to thrive and various faculty organized nine special conferences [see "Faculty Notes"]. Additionally, former colleague Anne Krueger, now of Stanford University, gave the Martin Bronfenbrenner Memorial Lecture, Jeffery Williamson of Harvard presented the Allen Starling Johnson Distinguished Lecture in the Fall; and Professor Lester Thurow of MIT and former Dean of the Sloan School of Management, followed suit in the Spring. These biannual Johnson Lectures have become popular signature events for our undergraduate program, drawing in many majors as well as faculty and graduate students from around the University. In this and many other ways the Johnson Fund continues to play a key role in our program and we are indebted to Mrs. Johnson and her continuing keen interest in our development. Lastly, Spring 1997 saw publication of the ninth annual edition of the Duke Journal of Economics, a showcase for the outstanding contributions of Duke undergraduates to the discipline.
In 1997-98 Pietro Peretto took a junior sabbatical year at the University of Maryland and Resources for the Future in Washington, DC., while Dennis Yang took his leave on home turf. Craufurd Goodwin and Kent Kimbrough also took sabbatical leaves in the Fall, Kent after postponing his several times to keep the macroeconomics program going until new troops arrived. This Fall Dan Graham heads for a sabbatical in France (George Tauchen will fill in as Director of Graduate Studies). In the Spring Neil De Marchi will teach two courses in Venice and John Vernon will continue to serve as Director of the Masters Program while on sabbatical.
On a personal note, in July Holger Sieg married Carolyn Levine, Assistant Professor of Accounting in the Fuqua School. Holger and Carolyn both earned their Ph.D.s from Carnegie Mellon. In August Pietro Peretto married Lenore Jones, now Lenore Jones-Peretto. Both earned their advanced degrees from Yale. Lenore will resign from her Pennsylvania Avenue law firm in Washington DC to practice international law in the Triangle. October saw the birth of Dennis and Sally Yang's first child, Kevin. In January, Greg Crawford and Julie Hansen, also had their first child, Olivia Jeanne. Add to these events the birth of granddaughters to Gail McKinnis and to Anne Hobin, and we have a banner year for family formation. Congratulations all.
Those of you old enough to hold dear the memory of Professor Frank DeVyver and his wife, Marion, will be saddened to learn that she passed away at age 95 last July at the Methodist Retirement Home in Durham. A graduate of the Oberlin Conservatory, Mrs. DeVyver was legendary for providing food and a family atmosphere for Frank's graduate labor seminar, held at their home on Sylvan Circle. They are survived by their daughter, Virginia Fletcher and her husband Daniel of Granville, OH, as well two grandchildren and two great-grandchildren. The Department will gladly forward any condolences to the family. Each year, a first-year Ph.D. student is supported by the Frank T. DeVyver Graduate Fellowship Fund. Contributions to this fund may be sent to The Frank T. DeVyver Graduate Fellowship Fund (check payable to Duke University), Office of Gift Records, Box 90581, Duke University, Durham, NC 27708.
About this time a year ago, Martin Bronfenbrenner fell ill and Ed Tower generously took over the final weeks of Martin's class. Martin himself assigned the final grades. As Dudley Wallace, James B. Duke Professor of Economics and former department chair noted, "No department chair could ask for a citizen who asked for so little for himself--even putting aside the world-wide respect for his scholarship." We miss his intellectual depth and integrity, his passion for teaching, his caustic wit and seemingly endless word plays -- as in a letter signed "Superannuatedly yours, Martin Bronfenbrenner, Kenan Professor Demeritus." To quote a recent student evaluation, "I wish he could go on teaching for the next 50 years."
Many of these events are detailed in this Newsletter and on our Home Page. Visit us at www.econ.duke.edu and send your news to alums@econ.duke.edu.
At the annual Founders' Day Convocation in Duke Chapel in December 1996, Professor Craufurd D.W. Goodwin became the 15th recipient of the University Scholar/Teacher Award. Goodwin, James B. Duke Professor of Economics and former Dean of the Graduate School, has been associated with Duke for over 40 years. The award was created in 1981 by the Board of Higher Education and Ministry of the United Methodist Church for the purpose of "recognizing an outstanding faculty member for his/her dedication and contribution to the learning arts and to the institution." It carries with it a $2,000 stipend.
Goodwin is a noted scholar in the history of economic thought and founding editor of the leading journal, History of Political Economy, better known as HOPE. Over the years he has chaired many significant University Committees and worked with the Ford and other foundations. Under a grant from the Ford Foundation, he currently runs a program jointly with Political Science which aims to play a lead role in undergraduate curricular development. For many years he has been a mainstay of the honors program in economics, personally shepherding many honors theses to completion and some to publication in professional journals.
President Nannerl O. Keohane presented the award. Keohane praised Goodwin, for his scholarly contributions and for his involvement at the "center of many of Duke's initiatives and priorities.... A provocative and inspiring teacher, Craufurd Goodwin...is known for his exceptional command of the material, for his entertaining clarity and rigor, and for his approachability.... In every facet of his professional life, he exhibits the integration of scholarship, instruction, and artistry."
In a letter of nomination, Marjorie B. McElroy, Professor and Chair of the Economics Department, offered quotes from Goodwin's student evaluations as illustrations of his success as a teacher. One student in his History of Economic Thought Class described Goodwin as "very likely the most accessible, friendly, and helpful professor I have known in my time at Duke" and labeled the class as "a five-star course."
The original version of this article appeared in the DUKE DIALOGUE
on December 13, 1996. It appears here in edited form.
In May, 1997 the Board of Trustees named George Tauchen the William Henry Glasson Professor of Economics at Duke University. Tauchen joined the Duke faculty in 1977 after receiving his Ph.D. from the University of Minnesota. He is a Fellow of both the Econometric Society and the American Statistical Association. His teaching and research interests include econometrics, statistics, and financial economics and at one time or another he has taught every graduate and undergraduate course offered by this Department. He co-organizes the monthly Triangle Econometrics Seminar and the annual seminar jointly with faculty at UNC-Chapel Hill and North Carolina State University.
The current Editor of the Journal of Business and Economic Statistics (JBES), Tauchen was formerly Associate Editor for four major journals, Econometrica, Econometric Theory, The Journal of the American Statistical Association, and JBES. He recently was a Visiting Fellow at the Australian National University and earlier visited the University of Chicago. Published in the leading economic and statistical journals, Tauchen's research has been supported by a long series of grants from the National Science Foundation. His current NSF grant is for the estimation and visualization of nonlinear economic models. A regular on both the econometrics and the finance seminar circuits at major U.S. research universities, he routinely travels to international meetings and conferences. In 1995 he gave a major invited address, summarizing the state of econometric developments relating to "New Minimum Chi-Square Methods in Empirical Finance" at the seventh quinquennial World Congress of the Econometric Society in Tokyo, Japan.
Professor Kent Kimbrough has been named a Co-editor of the Southern Economic Journal for a term beginning January, 1998 and ending June, 2001. In a dramatic shift in policy, the Southern will benefit from the work of an editor, three co-editors, and 25 assistant editors. Kent will handle roughly 100 papers in macro and international economics. The assistant editors include Rusty Harrington, Duke Ph.D., now a professor at Johns Hopkins.
Kent Kimbrough joined the Economics faculty in 1980 after receiving his Ph.D. from the University of Chicago. His research interests in the areas of international economics and macroeconomics focus on the role of the inflation tax, the macroeconomic implications of tariffs, and optimal taxation. He teaches both graduate and undergraduate courses in international economics and macroeconomics. Professor Kimbrough recently completed an undergraduate textbook on international economics.
"It is curious indeed that although economists are tremendously concerned with data and inferences made from data, historical records like those found in archives are one type of data which economists systematically ignore. This means that the records of economists, their contributions to the larger social and political entity, their institutional connections to the colleges, universities, research organizations, and government agencies with which they have been associated, are in fact not systematically preserved."
"However in recent years historians of economics have increasingly interacted with historians, historians of science, and sociologists of science,...[and] are looking more closely at all kinds of historical source material. This entails an increased interest in identifying and employing archival records in economics...."
"Although some archive materials are published (e.g., the correspondence of prominent economists such as Smith and Marshall), the majority are not....[T]he sheer volume of the total material, the difficulty in transcribing it (some archivists actually take classes in the hope of learning to decipher scribbling like Marshall's) and its very specialized appeal makes its publication unrealistic. The same is true for most archives: the materials are well worth saving, but too immense and too limited in appeal to publish. While publication is thus not a reliable way to save and disseminate most collections, modern microfilm technology and the Internet have helped to make some materials more available."
"While the Web would seem to hold great promise for making archival materials widely and inexpensively available...[a]t present...there is no adequate substitute for visiting the physical site of an archive. The problem is to learn which archives exist, what they contain, and how to use them....A.W. (Bob) Coats and Paul Sturges (Sturges 1975)... identified not only the sites of economists' papers throughout the United Kingdom but also some of the contents of those collections....In North America we have no similar finding-resource. Consequently, it has been the concern of The History of Economics Society, specifically through its electronic mailing list HES-List, to identify archival collections and to add collections to the on line index at the HES Website. This index is still young, though, so a broad survey of accessible archives may be useful."
"Several years ago the history of economics group at Duke University began to assemble and collect various archival materials in what is now called The Economists' Papers Project. This part of the Duke University Special Collections Library consists of the professional papers of a number of distinguished 20th century economists."
"Each collection is a potentially rich mine of information, allowing the researcher with sufficient patience to reconstruct opinions and ideas which were unpublished due to lack of time, apparent lack of popular interest, or confidentiality....[T]he teaching we seek to do to students itself can be modified, and improved, by the use of these records. What better way to describe the connection of economics to macroeconomic policy than to explore, in the papers of a very well known economist, the advice that that economist gave, and the response of a particular policy maker to the advice given, interchanges often found in the archival records?"
"While you may find it easier to throw away your papers or to not consider what to do with them, keep in mind that it is these documents which are of use to the historian. The ability to write rich histories depends upon the survival of correspondence, drafts, manuscripts, publications, photographs, etc., in order to construct useful accounts of the past."
Change is afoot in the undergraduate program. At the extensive margin, the Department has experienced a surge of both majors and of other students wishing to have a more limited exposure to economics. Over the last seven years, the average total of first and second majors plus minors has exceeded 500, with a singularly low point of 370 in 1994-95, climbing to about 600 this year. Over this same seven years, total annual enrollments in economics courses increased from 2,486 to 3,637. Some portion of the increase in majors is accounted for by an increase in female undergraduates majoring in economics, slightly exceeding the increase for males; females now comprise just over one quarter of our majors. However as of next year, despite significant recent additions to the faculty, our faculty size remains smaller (by three full-time equivalents) than it was in 1991-92. All of this means that we cannot avoid having some fraction of our principles and intermediate core sections taught by visitors and graduate students.
Programmatic developments continue, nonetheless. At the intensive margin, the recent introduction of a track leading to a Bachelor of Science has proved popular, resulting in an increased demand for quantitative offerings such as econometrics. Additional sections of popular courses such as Corporate Finance, while notoriously demanding, fill up as soon as they are opened. As detailed below, upper level seminars are integral to the quality of our program. Also, we have begun to offer seniors in the major "capstone courses." Beyond the major, we will introduce new "Focus" courses to encourage concentrated intellectual inquiry amongst undergraduates in their first semester at Duke.
Add to our surging enrollments, lack of long-term net faculty growth and intensive programmatic developments, a dramatic upturn in study abroad with attendant administrative complications, and one can readily see that the job of the Director of Undergraduate Studies has mushroomed in size and complexity. Even so, this past September, Professor Henry Grabowski handed the reins of the DUS to Professor Neil DeMarchi in a seamless transition.
Grabowski credited the department's burgeoning undergraduate enrollments in part to the introduction of new course offerings in applied economic areas such as finance, accounting, law and economics, adding that we have also developed several new courses with an international perspective - - with titles such as "Multinational Management," "Economics of Latin America," and "International Economy since 1800." Professor Grabowski also credits the Allen Starling Johnson, Jr. Endowment Fund with playing an invaluable role in all of these developments, noting that: "It would have been impossible for us to introduce many of these curricular developments without the aid of this support."
Expanding on these developments, our new DUS, Neil DeMarchi points to the Department's support of the College initiative to develop a menu of seminars for first-year undergraduates. Each Spring the Department now offers several seminars in this series, currently taught by Professors Goodwin, Treml and Weintraub. Additionally, Professor Allen Kelley is experimenting with a seminar-size version of macro principles. More innovative still is Duke's "Focus Program," available to freshmen only in their first semester at Duke. The Focus Program offers clusters of classes around a central theme. In Fall 1998 DeMarchi will offer the first-ever economics seminar in the Twentieth Century Europe Focus cluster. DeMarchi's course, "Socialism, Enterprise, and Stability" examines European economic debates from Russia to England in the first four decades of this century.
DeMarchi, pointing to the relative paucity of offerings for senior majors outside of the honors program, notes that the Department is now deliberately developing a set of new courses, each designed as a sort of capstone experience. "Open to all majors, these courses offer an integrative approach to (or through) some subject, encouraging students to reflect on the material they've encountered during the economics major while also looking beyond their undergraduate years." Either on-line or scheduled are: Economics in the Bloomsbury Group (Goodwin), Current Issues in Economics (Weintraub), Innovation and Entrepreneurial Activity (Grabowski), Derivative Securities (Tauchen) and Economy, Society and Morality in 18th Century Thought (DeMarchi, joint with Ruth Grant of Political Science).
Mark An will be a Visiting Research Associate Professor at the University of Aarhus, Denmark from May 1998 - August 1998. His recent publications include "Logconcavity versus Logconvexity: A Complete Characterization," Journal of Economic Theory (forthcoming) and "On the Overall Rate of Taxation" in Chinese Tax Reform: New Opportunities and New Challenges (China Economic Press).
Edwin Burmeister contributed "The Capital Theory Controversy" as an invited paper in Assessment of Piero Sraffa's Contributions to Economics and lectured on "Conditional Value at Risk for Equities" at the Institute for International Research, Risk '97 Conference this past October.
Michelle Connolly presented "Technology, Trade and Growth: Empirical Findings" at the Midwest International Trade Conference and at the Southeast International Economics Conference in the Fall of 1997. Connolly also received an Arts and Sciences Research Council Grant from Duke University.
Mark Coppejans' "Noise in the Price Discovery Process: A Comparison of Periodic and Continuous Auctions" (with Ian Domowitz) is forthcoming in How Stocks Should Trade: New Competition in the Market for Markets edited by Robert A. Schwartz.
Gregory Crawford presented his paper "The Impact of the 1992 Cable Act on Consumer Welfare and Firm Profits: A Discrete-Choice, Differentiated Products Approach" at the Federal Trade Commission in March, 1997 and at the annual meeting of the American Economics Association Meetings in January, 1998.
Neil DeMarchi along with Hans Van Miegroet, his frequent collaborator in Art History, organized a 16th century studies conference in Atlanta,Georgia. DeMarchi and Craufurd Goodwin organized a conference on Economists and Art jointly sponsored by the Duke Departments of Economics and Art and Art History. The event was scheduled for April 3, 4 and 5, 1998 at the Thomas Center, Fuqua School of Business, Duke University.
Craufurd Goodwin introduced a new "capstone" seminar for Spring, 1998 seniors, exploring how economics may (or may not) interact with the arts, humanities, the other social sciences, and with life generally. His book on the economic ideas of the art critic Roger Fry, Art and the Market published by the University of Michigan Press, is due out shortly. Goodwin's grant (joint with Political Science) from the Ford Foundation continues to foster the creation of new courses in each department as well as joint courses. In addition, this grant funds undergraduate international travel for research and provides faculty mentors to involve minority and underrepresented students in research.
Henry Grabowski's forthcoming publications include "Pharmaceutical Innovation, Cost-Effectiveness Research and Emerging Regulatory Issues," in Policy Issues in Pharmaceutical Cost-Effectiveness Research; "Effective Patent Life in Pharmaceuticals," (with John Vernon) in International Journal of Technology Management; and "The Role of Cost-Effectiveness Analysis in Managed Care Decisions" in Pharmacoeconomics. Grabowski is a co-organizer of a Health Economics Conference to be held in London in October, 1998.
Enrique Mendoza's "The International Ramifications of Tax Reforms: Supply-Side Economics in a Global Economy" (with L. Tesar) will appear in the March, 1998 American Economic Review.
Hervé Moulin published "Two Versions of the Tragedy of the Commons" (with Duke Ph.D. Alison Watts) in Economic Design and "Axiomatic Analysis of Resource Allocation Problems" (with William Thompson) in Social Choice Reexamined. Moulin presented: "Rationing a Fixed Commodity Along a Fixed Path" at the DiMACS Conference on Economics, Game Theory and the Internet in Rutgers, New Jersey, April 18-19, 1997; "Strategyproof Sharing of a Submodular Cost" at the Third International Conference of the Economic Theory Society in Antalya, Turkey, June 16-20, 1997; and "Cost and Surplus Sharing: Axiomatics and Incentives at the International Conference on Game Theory, New York University at Stony Brook, New York, July 26-30, 1997.
Pietro Peretto published two papers in September, 1997: "Persistence of Innovative Activities, Sectoral Patterns of Innovation, and International Technological Specialization" (with F. Malerba and L. Orsenigo) in the International Journal of Industrial Organization, and "Variety, Spillovers and Market Structure in a Model of Endogenous Technological Change" in Increasing Returns and Economic Analysis. He spent his junior sabbatical on leave in Washington, D.C., visiting the University of Maryland and Resources for the Future, the latter funded by a Resources for the Future grant with Kerry Smith as Principal Investigator.
Vincenzo Quadrini's recent publications include "Politico-Economic Equilibrium and Economic Growth," (with P. Krusell and V. Rios-Rull), Journal of Economic Dynamics and Control, January 1997; and "Dimensions of Inequality: Facts on The U.S. Distributions of Earnings, Income and Wealth" (with J. Diaz-Gimenez and V. Rios-Rull), Quarterly Review of the Federal Reserve Bank of Minneapolis, Spring 1997.
Holger Sieg's "A Microeconometric Comparison of Household Behavior between Countries" (with R. A. Miller) was published in April, 1997 in the Journal of Business and Economic Statistics.
Frank Sloan published "The Impact of Cost-Effectiveness on Public and Private Policies in Health Care: An International Perspective," (with Henry Grabowski) in Social Science and Medicine in August, 1997; "Tort Liability and Obstetricians' Care Levels" (with S. Entman, B. Reilly, C. Glass, G. Hickson, and H. Zhang) in International Review of Law and Economics, June, 1997; and "The Supply of Children's Time to Disabled Elderly Parents" (with G. Picone and T. J. Hoerger) in Economic Inquiry, April, 1997. Sloan's grants include "Credentialling Standards and Quality of Care in North Carolina Hospitals" sponsored by the Duke Endowment and "Heavy Drinking and Drunk Driving: Which Deterrents Work?" sponsored by the National Institute on Alcohol Abuse and Alcoholism.
V. Kerry Smith organized three workshops: Camp Resources featuring spatial econometrics and environmental applications in August, 1997; "Research Transformations in Environmental Economics: Policy Design in Response to Global Change" in May, 1997; and Transportation and the Environment: Can Economic Analysis Inform the Policy Process?" in December, 1997. The U.S. Department of Energy awarded Smith (with Pietro Peretto) a grant to study "Carbon Policy and Induced Technical Change: Market Structure, Increasing Returns, and Secondary Benefits." Smith's latest papers include "Temporal Reliability of Estimates from Contingent Valuation" (with R. Carson, W. M. Hanemann, R. J. Kopp, J. Krosnick, R. Mitchell, S. Presser, and P. Ruud) in Land Economics, May, 1997 and "Pricing What is Priceless: A Status Report on Non-Market Valuation of Environmental Resources" in International Yearbook of Environmental and Resource Economics in 1997.
George Tauchen gave a series of five invited lectures on Financial Econometrics at the University of Zurich, Switzerland in May, 1997. Also in 1997, he presented papers at a conference on the Volatility in Finance at the University of California - San Diego (April), at a conference on Computation in Finance and Economics at Stanford University (July), and at the XIV Latin American Meeting of the Econometric Society in Santiago, Chile (August). His recent and forthcoming publications include: "Estimation of Stochastic Volatility Models with Diagnostics," (with A. R. Gallant and D. Hsieh) in the Journal of Econometrics, 1997; "Estimation of Continuous Time Models for Stock Returns and Interest Rates," (with A.R. Gallant) in Macroeconomic Dynamics in 1997; and "The Objective Function of Simulation Estimators Near the Boundary of the Parameter Space," to appear in the Review of Econometrics and Statistics in 1998. Tauchen co-organized (with faculty from UNC Chapel Hill and North Carolina State University) the Triangle Econometrics Conference in December, 1997, and co-organized (with Mike West) the 1997 NSF-NBER Time Series Meeting at Duke in October, 1997. This conference brought to Duke nearly every top time series econometrician in the world.
Gianni Toniolo's book (with Charles Feinstein and Peter Temin) The European Economy Between the Wars appeared in June, 1997. His paper "Europe's Golden Age, 1950-1973: Speculations from a Long-Run Perspective" is forthcoming in the May, 1998 issue of The Economic History Review. Toniolo is chair of the organizing committee for the annual meeting of the Economic History Association to be held at Duke in September, 1998.
Ed Tower co-edited a book that came out last spring, Judging Economic Policy: Selected Writings of Gottfried Haberler (Richard J. Sweeney and Thomas Willett, co-editors). He also published "Can a Periodic 'Voluntary' Export Restraint Enhance Importing Country Welfare?" and "Does Trade Liberalization Benefit Young and Old Alike," (both with Duke Ph.D. Omer Gokcekus) in the Journal of Economic Integration and in the Review of International Economics, respectively.
John Vernon and Henry Grabowski saw their book The Search for New Vaccines: The Effects of the Vaccines for Children Program published by the American Enterprise Institute for Public Policy Research in the Fall of 1997. They also published "Effective Patent Life in Pharmaceuticals" in the International Journal of Technology Management.
E. Roy Weintraub's article on formalism in economics, "Axiomatisches Mi˛verst„ndnis," is forthcoming in The Economic Journal. He will present "Negotiating at the Boundary: Patinkin v. Phipps" (co-author Ted Gayer) at both the History of Economics Meetings in Montreal this April and at the European Committee on History of Economics in Antwerp, Belgium this June.
Dennis Yang recently published "Education and Off-Farm Work" in Economic Development and Cultural Change (April, 1997); "China's Land Arrangements and Rural Labor Mobility" in China Economic Review 8 (August, 1997); and "Education in Production: Measuring Labor Quality and Management" in the American Journal of Agricultural Economics (August, 1997). Yang is Principal Investigator on a grant from the Trent Foundation, "Economic Reforms and Allocative Efficiency: Household Income Growth in Rural China as well as Principal Investigator with Marjorie McElroy on a grant from the Chiang Ching-Kuo Foundation to study "Fertility, Family Behavior, and Welfare: Mainland China's One-Child Policy." He presented "China's Population Policies and Changing Demographic Structure" (with Dan Dan Chen and Marjorie McElroy) at the January AEA Meetings in Chicago.
William Yohe's "Interactive Intermediate Macroeconomics," a computer-based instructional package (Blackwell and Guy Judge collaborators) is scheduled for publication in 1998. Yohe's essay "The Great Depression" was published in An Encyclopedia of Keynesian Economics in 1997.
Lin Zhou's two articles "Pazner-Schmeidler Rules in Large Societies" and "Subjective Probability Theory with Continuous Acts" were accepted for publication in the Journal of Mathematical Economics.
Congratulations to our new Ph.D.'s. These 1997 graduate alums are listed below with their job placements, thesis titles, and dissertation supervisors.
Ted Gayer, Professor, School of Public Policy, Georgetown University, Washington,DC, "Hazardous Waste Risks, Housing Prices, and Economic Methodology," W. Kip Viscusi.
William Pyle, Professor, Ohio Wesleyan University, Delaware, OH, "Topics in the Allocative Efficiency of the Russian Market: A Theoretical and Empirical Investigation of an Economy in Transition," Vladimir Treml.
Junfeng Qi, "Structural Estimation of Auction Models: A Simulation Based Approach," Robert Marshall.
Matthew Raiff, "Essays on the Distinction Between Competitive and Collusive Pricing Behavior," Robert Marshall.
Otis Scott Mixon, Economist, BC Warbur Investment Bank, London, "Essays on Financial Market Volatility," George Tauchen.
Subitha Subramaniam, Economist, United Bank of Switzerland, "Stock Markets, Banking Institutions and Economic Growth in India and Malaysia," Kent Kimbrough.
Anup Wadhawan, Visiting Professor, Penn State University, "The Time Path of Macro Variables in an Open Economy under Various Structural and Exchange Rate Settings," Kent Kimbrough.
Graduate students in Economics received the following fellowships and awards:
Spencer Banzhaf was awarded a Harvey Fellowship from the Mustard Seed Foundation which begins next Fall.
Mark L. Burkey has been named the "Barry M. Moriarty Graduate Student of the Year" by the Southern Regional Science Association. He will present his paper "Location and Demand: An Analysis and Example Using Liquor Stores" and receive this award at the SRSA meetings in Savannah, GA April 2-4, 1998.
Steve Meardon has conducted a year of field research in Mexico (since September 1997). He is working on his thesis, "The Influence of Trade Liberalization on the Geographic Distribution of Industries in North America," at El Centro de Investigacion y Docencia Economicas (CIDE) in Mexico City. He is supported by two fellowships: a "Foreign Language Area Studies" (FLAS) grant from the U.S. Department of Education, administered by Duke's Center for North American Studies; and a "Regular Training Fellowship Program" grant from the Organization of American States.
David Ridley has received a fellowship from the Duke Center for Teaching and Learning.
Yaping Wang has received a Duke Conference Travel Fellowship.
Wei Zhu won a "Leadership in an Aging Society" internship at the Duke Center for Aging last summer and has just recently won a Glaxo Wellcome Long Term Care Career Development Award for Young Researchers.
Undergraduates with strong economics records are invited into the Department's honors program. Those who wish to graduate with departmental distinction are required to take at least one honors seminar and to write an honors thesis. The following is a list of Undergraduate Honors Theses completed for Spring 1997 including student name, thesis title, and faculty advisor.
Peter Dunn Ahlin, "Equilibrium Existence in the Symmetric Hotelling Model with Negative Network Effects" (Moulin).
Todd E. Bowen, "Empirical Study Into Free Agency and Competitive Balance in Major League Baseball" (Grabowski).
Gillis S. Cashman, "A Valuation of the British Telecom/MCI Merger" (Coppejans).
Daniel A. Cohen, "The Effectiveness of Preventative Crime Fighting Programs" (Clotfelter).
Nancy M. Graham, "The Effect of Cost on Market Share Growth in the Airline Industry" (Raiff).
Irene Klempner, "Wall Street Is Like Seventh Avenue: The Effects of Asymmetrical Information on Investment Behavior in the IPO Market" (Coppejans).
Justin P. Knowles, "Sweetening the Pot: The Determinants of Sugar PAC Contributions" (Tower).
S. Rollins Wykle, "A Comparative Study of the Demand for Concealed Handgun Permits in North Carolina and Virginia" (Cook).
After 19 years in the Department of Economics, Peggy East retired from her position as Administrative Assistant. At a buffet luncheon given in her honor last April, faculty, staff, students, friends and family joined in a musical tribute and presented her with a hand-painted entertainment center. A favorite of the Department for years, she was named Administrative Assistant Emeritus. Peggy moved to Huntersville, N.C., between Charlotte and Lake Norman. She enjoys spending time with her granddaughters, attending the Panthers' and Hornets' games and working in her flower garden. To ease the Department's transition, Peggy has been back in the Department from time to time, initiating Bonita Henderson and Ann Lacey on the finer points of the budget, recruiting and other matters.
Martha Gove recently assumed the position of Managing Editor of The History of Political Economy, the HOPE Journal, working for Duke University Press and the Economics Department. A former editor of foreign language college textbooks in San Francisco, she says the best thing about her new job is the "wonderful people I work with". Martha replaced Beth Eastlick, who received her Master's Degree and moved on to Central Development at Duke, where she is Special Assistant to the Executive Director of University Development.
Betty Henderson is the Department's new Administrative Assistant. Her primary responsibilities include the organization and implementation of departmental policies, procedures and personnel management. She will manage the budget, space, and generally assist the chair with other administrative issues. Affectionately known as Bonita, she comes to us with 17 years of experience in Duke Hospital - - ranging from hospital billing and collections to clinic supervision. As the most advanced graduate of the Critical Needs Jobs Training and Hospital Career Development Program, Bonita gave a brief, invited talk to a group gathered to honor participants in the Searle Center Lecture Hall.
Anne Hobin's new granddaughter, Alexandra Laura Hobin was born on January 18, 1998. Anne's husband, Ray was the winner of the Durham Bulls Trivia Contest and both of them received an all-expenses-paid trip to Atlanta to see a Braves game.
Ann Lacey is our new Staff Specialist. Her responsibilities include Senior and Junior Recruiting. She will write and edit the Economics Department Newsletter as well as do other editorial work, and generally assist the Chair with many academic and university matters, including fund raising. Additionally, Ann will assist Bonita with support staff administration. Ann spent the last five years as Office Manager of the Duke Liver Clinic, before which she worked at the Duke Management Company. Prior to that she was self-employed in taxes and accounting.
Priscilla Lane was promoted from Staff Assistant to the position of Senior Editorial Assistant. Priscilla works for Hervé Moulin, James B. Duke Professor of Economics.
Kristine McGee is now Staff Assistant for Kerry Smith at the Nicholas School of the Environment. She will receive a Letter of Commendation for her work performance as part of the 1997 Presidential Awards for Duke Employees.
Gail McKinnis received a letter from President Keohane, Provost Strohbehn and Executive Vice President Trask thanking her for participating in the Staff Communication Forums held this past October, November and December. Sixty-two Duke employees focused on the two topics: what works well at Duke; and suggestions for improvements to strengthen the work environment. Gail also became a grandmother for the first time. Her granddaughter, Hannah Jordan McKinnis was born on December 19, 1997.
Carlos G. Acevedo (M.A. '93) is a Ph.D. candidate in economics at Vanderbilt University. He co-authored Economic Policy for Building Peace: The Lessons of El Salvador recently published by Lynne Rienner Publishers. His article "El Salvador's Agricultural Sector: Macroeconomic Policy, Agrarian Change, and the Environment" appeared in the December 1995 issue of World Development.
Chimin Chien (Ph.D. '90) died in an airplane accident on February 16, 1998 on his way back from Indonesia to Taiwan. Dr. Chien, together with the Chairman and several high-level officials of the Central Bank of Taiwan had been on the Bali Islands to discuss the Asian currency crisis. He was the Chief of the Economic Research Department of the Central Bank, subordinate only to the Chairman (who also died in the accident) and Vice Chairman. Amy Wen-Yueh Chin, a Duke Law School alumna said of Chien, "Alumni of the Law School and Fuqua often came to him when we ran into currency problems. He always joked 'I have no choice but to help you because we have only a few alums here.'" Dr. Chien is survived by his wife, Ms. Min Lu, and two children. Inquiries about donations for Dr. Chien's wife and children may be e-mailed to: Amy_Wen-Yueh_Chin@jonesday.com .
Joseph H. Davis, III (M.A. '95) was named "Employee of the Year" for 1996 at Regional Financial Associates, Inc.
Allan H. Fels (Ph.D. '72) holds Australia's top regulatory position as Chairman of the Australian Competition and Consumer Commission (ACCC) for the next four years. The ACCC combines the roles of antitrust regulator and national public utility regulator. Fels also co-chairs the OECD Trade and Competition Committee, and he holds a chair at Monash University where he is currently on leave.
Clifford Gaddy (Ph.D. '91) received a "Best Book" award by the American Association of Slavic Studies for his book The Price of the Past: Russia's Struggle with the Legacy of a Militarized Economy, Brookings Institution, Washington, DC 1996 (hard cover) and 1997 (paperback).
Mary Jean Horney (Ph.D. '77) was appointed to the Frederick W. Symmes Professor of Economics Chair at Furman University.
Ricardo Lagos (Ph.D. '66) serves as Public Works Minister in Chile under current President Eduardo Frei. Lagos leads all national opinion polls as the most likely successor to President Frei in the 1999 presidential election.
Jens Ludwig (Ph.D. '94), Assistant Professor at Georgetown and Philip Cook, ITT/Sanford Professor of Public Policy Studies at Duke, have been selected as the winners of the Vernon Prize, given each year to the outstanding paper published in the Journal of Policy Analysis & Management. To examine the role of guns in everyday life, Cook and Ludwig studied the details of gun ownership in America, including who owns guns, how guns are purchased and how they are stored.
Bernard A. Morin (Ph.D. '66) is the Robert Hill Carter Professor at the McIntire School of Commerce at the University of Virginia. Morin was awarded a Fulbright Fellowship to lecture at Sophia University in Sophia, Bulgaria for the Spring Semester 1997. Having served twice previously as a consultant in Bulgaria, he was anxious to return.
Jeff Rubin (Ph.D. '75) remains at Rutgers University as a Professor of Economics where his main research interest is an ongoing investigation of the determinants of insurance coverage and health care use among disabled persons. Rubin was recently appointed Faculty Athletics Representative to the NCAA, and he also serves as Chair of the Steering Committee for NCAA Certification at Rutgers. His son, Richard continues the Duke tradition as a member of the class of 2000.
Robert M. Schmidt (Ph.D. '81) recently received the CSX Chair in Management and Accounting at the Business School of the University of Richmond.
Natalie J. Webb (Ph.D. '92) has been awarded a Fulbright grant to conduct research in Norway in the 1997-98 academic year. Dr. Webb's research project is entitled, "Public-Private Partnerships in Providing Social Welfare: What the U.S. Can Learn from Scandinavia on Management, Quality, and Effectiveness in Providing Public Welfare through Government and Nonprofit Organizations."
Elmus Wicker (Ph.D. '56) is Professor Emeritus of Economics at Indiana University. He recently published Banking Panics of the Great Depression (1996) with Cambridge University Press.
For many reasons, such as keeping in touch with classmates, alums have asked to have a permanent Econ Department e-mail forwarding service. We will accommodate these requests by assigning every requesting alum a permanent e-mail forwarding address of the standardized form "firstname.lastname@econ.duke.edu". Provided you send us your current (work or home) e-mail address, we will take messages that come in to your permanent Econ forwarding address and forward them to your current address. If we have no current address for you, the sender will get an automatic reply saying so. Because of the forwarding, no actual messages will reside on our server.
If you want this service, you must fill in your degree, date of degree, and current e-mail address on the form below and return it via snail mail to the Newsletter Editor, Department of Economics, Duke University, Box 90097, Durham, NC 27708-0097 (other information requested on the form is optional). In the future, you can update your current e-mail address either by e-mailing the change to "alums@econ.duke.edu" or by writing the Newsletter Editor. If you wish to make absolutely sure that you are the only person authorized to update your current e-mail address, then fill out and sign that optional part of the form as well. In that case an e-mailed request will not be honored and only a signed, written change of address will do.
Get your permanent Econ e-mail forwarding address by filling in this form, including your degree, date of degree, and current e-mail address and returning it via snail mail to: Newsletter Editor, Department of Economics, Duke University, Box 90097, Durham, NC 27708-0097.
Last Name....................................... First Name................................. Middle Initial.......
Home address................................... City............... State......... Zip.......... Country.............
Home Phone ....................................Duke Degree(s).................Year(s) Received................
Work Phone.................................. Current E-Mail Address...................................................
Professional Title ..................................................................................................................
Work Address.............................. City............... State......... Zip.......... Country.............
__OPTIONAL RESTRICTION:
I wish the Economics Department to honor only handwritten changes in my current e-mail address.
Full Name (Please Print):_____________________________________________
Signature __________________________________ Date__________________
URL: http://www.econ.duke.edu
Thanks to Professor Allen Kelley and to Staff Specialist Gail McKinnis, Duke Economics Working Papers are now accessible via the Department's home page,
The Warren J. Samuels Collection of photographic or portrait images of several dozen early economists is now available on the Web. This collection, a gift of Professor Samuels to the Economics Department of Duke University, has been scanned to a departmental Web site. The index page can be found at http://www.econ.duke.edu/Economists. "Clicking" on the individual's name will produce the individual's portrait; the "gif" files may be linked, printed, etc. subject to the statement on the index page.
Editor: Ann Lacey
Contributors: Neil De Marchi, Tracy Kuzcak, Marjorie B. McElroy and E. Roy Weintraub
Special thanks to: Peggy East, Martha Gove, Betty Henderson, Anne Hobin, Allen C. Kelley, Gail McKinnis, and Enrique Mendoza