PhD profile

UConn Ph.D. Serves as World Bank’s Lead Economist in Russia

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Zeljko Bogetic, one of Professor Dennis Heffley’s former Ph.D. students, currently is serving as Lead Economist and Country Sector Coordinator for Russia in the Europe and Central Asia Region of the World Bank. A native of Montegro, Zeljko completed his dissertation (A Computable General Equilibrium Model of the Yugoslav Economy) in 1990. Soon thereafter, he entered the World Bank’s prestigious Young Professionals Program.

Zeljko has held a number of positions during his 20-year career at the World Bank and the International Monetary Fund. Prior to his present assignment in Moscow, he served as a lead economist in the Africa Region of the World Bank, with primary responsibilities for Cote d’Ivoire and Ghana, and before that he served as lead economist for South Africa and the Poverty Reduction and Economic Management (PREM) cluster leader for Southern Africa Customs Union countries at the World Bank. Zeljko’s command of five languages—Serbo-Croatian, English, French, Russian, and Spanish—has clearly been put to good use over the years.

In addition to his administrative duties, Zeljko has published books, scholarly articles, and papers on a variety of subjects: public finance reforms in transition economies; tax and expenditure policies; fiscal federalism; macroeconomic stabilization; dollarization and currency boards; infrastructure, productivity, and growth; and benchmarking of infrastructure performance. In addition to co-editing one the World Bank’s early volumes on transition economies (Financing Government in the Transition, 1995), he has published articles in the Journal of Comparative Economics, Challenge, the Cato Journal, World Development, Central Banking, Contemporary Economic Policy, South African Journal of Economics, Finance & Development, and Journal of Development Perspectives, as well as a number of papers in the World Bank’s Research Working Paper Series. Zeljko also leads a team of researchers that produce the World Bank’s Russian Economic Report, a prime source of information on recent macroeconomic conditions and policy developments in Russia.

Alumnus Profile: Donald Vandegrift

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Economics, like most disciplines, has become highly specialized, so it is not surprising that many economists focus their research on a narrow range of topics or issues. Not so for one of our Ph.D. alumni, Donald Vandegrift (IDEAS).

Don completed his doctorate in 1993 under the tutelage of Prof. Richard Langlois. Apparently Dick’s interest in a wide range of topics in the field of industrial organization rubbed off on Don, who currently serves as Chair of the Department of Economics in the School of Business at The College of New Jersey.

Over the years, Don has published papers on performance excuse under contracts (European Journal of Law and Economics, 1997), asset specificity (Eastern Economic Journal, 1998), energy use (Journal of Energy and Development, 1999), product warranty (Contemporary Economic Policy, 2001), risky strategies in “tournament competition” (Labour Economics, 2003), obesity rates (Health & Place, 2004), gender differences in competitive strategies (Journal of Socio-Economics, 2005), prescription drug spending (Southern Economic Journal, 2006), incentive effects in experimental settings (Experimental Economics, 2007), and hedge fund performance (Journal of Derivatives and Hedge Funds, 2009).

Don’s forthcoming work continues to reflect his exceptional versatility. A paper on hedge fund performance will soon appear in the Journal of Derivatives and Hedge Funds; his experimental analysis of differences in competitive behavior between men and women is slated for publication by the Journal of Economic Behavior and Organization; a study of sabotage in tournaments has been accepted by the Journal of Institutional and Theoretical Economics; and the Annals of Regional Science will publish a paper on linkages between open space, house prices, and the local property tax base.

It is great to see our former students enjoying their work and sharing it with others. Don spoke at our on-campus 2008 Economics Reunion and Forum, and we are hoping that he will be back in Storrs next spring, when we repeat this successful event. Don and other former grad students presented research papers, participated in job-experience panels, met our current students and newer faculty, and reconnected with old friends and fellow alums. We will be posting plans for the next event, but it is clear that even in his current administrative role as Department Chair, Don has continued his lively line(s) of research and will have little problem coming up with a new paper for the 2010 reunion.

Economics alum combines academic research and public service

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After completing his Ph.D. in 1991 under the supervision of Prof. Francis Ahking (IDEAS), Kenneth Daniels (IDEAS) joined the Department of Finance at Virginia Commonwealth University. A specialist in financial services and community development, Ken has published his research in the Journal of Money, Credit and Banking, The Journal of Corporate Finance, The Financial Review, and a rich variety of other professional journals. His most recent contribution is a co-authored paper titled “An Empirical Analysis of the Determinants and Pricing of Corporate Bond Clawbacks” in the Journal of Corporate Finance. For his earlier work on derivatives, he received the Sydney Futures Exchange Prize; the Eastern Finance Association offered similar recognition for a paper on investments.

Throughout his career, Ken has combined his academic research with various forms of public service. He serves as a Board Member of the Commonwealth of Virginia’s Treasury Board, a group that oversees the state’s public banking deposits and debt and manages several state investment portfolios. He also is a Board Member of the Virginia Community Development Corporation and the Virginia Community Capital Corporation, the only non-profit bank holding corporation in the U.S.

Recent graduate Tsvetanka Karagoyozova heading to Lawrence University

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This fall our alumnus, Tsvetanka Karagyozova, will join Lawrence University in Appleton, WI as an Assistant Professor of Economics. A liberal-arts institution charted in 1847, Lawrence was among the first colleges in the United States to be founded coeducational.

Tsvety defended her thesis in 2007 under the guidance of Prof. Christian Zimmermann (IDEAS) and spent the last two years as a post-doctoral teaching fellow at the University of British Columbia. Tsvety’s research interests are in the field of financial economics, and more specifically in asset pricing and the economics of insurance. She is interested in how financial markets operate in the presence of informational asymmetries and in new models of individual decision-making in economics.

Recent PhD Rimvydas Baltaduonis heading to Gettysburg College

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Recent graduate Rimvydas Baltaduonis (IDEAS), advised by Vicki Knoblauch (IDEAS), is finishing up his post-doc fellowship at the Economic Science Institute at Chapman University where he worked with a world renowned team of experimental economists including a 2002 Nobel laureate in economics Vernon L. Smith (IDEAS). In August, Rim will begin a tenure-track position as an Assistant Professor of Economics at Gettysburg College in Pennsylvania. During last two years as a post-doc fellow at George Mason University and then at Chapman University, Rim continued his research of electric power markets and helped organizing numerous workshops in experimental economics for graduate, undergraduate and high school students, public utility regulators, businessmen, faculty and high school teachers. He conducted workshops in Virginia, California, Colorado, Guatemala and recently in Lithuania. These workshops in experimental economics are designed to promote research, teaching and learning of economics through laboratory experiments. Before Rim assumes his position at Gettysburg this fall, he will spend summer (actually winter!) months as a Visiting Fellow in Experimental Economics at the University of Sydney in Australia.

Natalya Shelkova defends thesis, heads to Guilford College

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Natalya Shelkova (IDEAS) defended her thesis on Thursday, May 21 2009 under the supervision of Prof. Zimmermann (IDEAS). In her research she studies the possibility of collusion by low-wage employers at the non-binding minimum wage. She tests this hypothesis empirically in the chapter titled “Low-wage labor markets and the power of suggestion”, a version of which is a part of both our department’s working paper series as well as Princeton University’s Industrial Relations Section working papers series. She also constructed a search-theoretic model that allows for partial collusion at the minimum wage, resulting in replication of both the minimum wage spike and wage dispersion.

In August Natalya starts her new job as an Assistant Professor of Economics at Guilford College in Greensboro, NC. Guilford College, established in 1837 as one of the country colleges founded by Quakers, is strongly committed to the ideals of peace, social justice and equality. The Quakers of Greensboro cared for the wounded soldiers on both sides during the American Revolutionary War, and harbored runaway slaves seeking to escape to the North during the antebellum era. Natalya is very excited about her new job and about the opportunity to work and contribute to such a historic place.

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.