PhD

Biplab Ghosh defends thesis, heads to Gustavus Adolphus College

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Biplab Ghosh recently defended his thesis under the advisorship of Prof. Dharmapala. His research interests lie in financial economics. His dissertation comprised three chapters, the first one tackles the theory that information asymmetry among investors leads to higher asset price volatility for firms. Testing this empirically, he finds that this is indeed the case, especially for small and illiquid firms, and those with a low book-to-market ratio. In the second chapter, he finds that higher firm level asset volatility leads to lower leverage. This can be viewed as a consequence of undiversified managers trying to reduce their own risk. And in the final chapter, he tries to explain the reason for the higher return of firms with high asymmetric information. It appears to originate with news about future cash flows rather than changes in the discount rate.

Ghosh will soon join Gustavus Adolphus College, a liberal arts college in Saint Peter, an hour from Minneapolis with about 2500 students. He will be teaching mostly finance courses in the College’s Department of Economics and Management.

James Boudreau defends thesis, heads to University of Texas Pan American

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James Boudreau (IDEAS) defended his dissertation on Friday, May 1st 2009, the title of which is “Essays on the Analysis and Implications of Two-Sided Matching Markets.” In his work, performed with adviser Vicki Knoblauch (IDEAS), he uses both theory and simulation techniques to investigate the functioning of matching markets. These are markets such as the marriage market or the labor market in which partnerships are typically intended as long-term, so participants are especially concerned with who they end up with. His contributions include results on how preference characteristics can help or hinder both centralized and decentralized matching mechanisms, and how individual incentives in matching markets can influence macroeconomic phenomena such as unemployment and growth.

James, a Connecticut native, has been a UConn student since the Fall of 1999, receiving his BA, MA, and now his PhD in economics. During his PhD studies he has also been an instructor, teaching classes in both microeconomics and macroeconomics at the introductory and intermediate levels.

Unfortunately for us, James’ time at UConn has finally ended, but fortunately for him his experience with the world of economics has only just begun. Next Fall James will begin a tenure-track position as an Assistant Professor of Economics at the University of Texas Pan American. We wish him all the best.

MA, PhD alumna featured in UConn Alumni magazine

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Excerpts from a feature in the latest UConn Magazine:

In the more than a dozen years since she returned to Taiwan from Storrs, Lih-Chyi Wen ’93 M.A., ’96 Ph.D. has established a career as an environmental economist who continues to break new ground in one of the world’s emerging regions.

Wen, deputy director and research fellow in the International Division of the Energy and Environmental Research Center at the Taiwan World Trade Organization, is playing a crucial role in proposing new economic and environmental policies to aid her country.

Lih-Chyi has combined her economics training and her passion for environmental issues and used them to understand and improve environmental management in her home country of Taiwan, which faces numerous environmental challenges as its economy grows,” says Kathleen Segerson, Philip E. Austin Professor of Economics, who served as Wen’s advisor at UConn.

The respect is mutual. Wen says the key to her success at Storrs was the support she received from the faculty, particularly Segerson.

“She not only has a brilliant, analytical mind and great originality, which is evidenced throughout her teaching and research work, but she also takes care of graduate students as if they were her own kids,” Wen says.

The author of two books and dozens of commissioned articles on environmental policy as well as economic policy, Wen was named one of 2008’s Rising Stars in Taipei by the Central News Agency, selected by a 10-member panel of university presidents.

Read more here.

Current PhD student and two recent graduates to publish in Economic Inquiry

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Current Ph.D. student Marina-Selini Katsaiti (IDEAS) and recent graduates Philip Shaw (IDEAS) and Marius Jurgilas (IDEAS), all advised by Christian Zimmermann (IDEAS), will publish a paper entitled “Corruption and Growth Under Weak Identification” in the journal Economic Inquiry. This paper reviews the recent literature in econometrics that focuses on identification and statistical inference when a researcher has weakly correlated instruments variables. In light of this recent theoretical work in econometrics, it analyses a highly influential article in economics and finds that the original results of this article are misleading. It then updates the original analysis and shows that there is no relationship between corruption and economic growth or investment, which is contrary to the results of the original article. The paper also suggests that the problem of weak instruments in the corruption literature may not be isolated to a single article but instead the entire empirical literature that tries to find a causal link between corruption and economic growth or investment. The paper contributes also to the literature by demonstrating how researchers can “deal” with the problem of weak identification.