Announcements

High Dimensional Econometrics at the NE Statistics Symposium (NESS)

Posted on March 27, 2019March 27, 2019 by McConnel, Mark

The Department of Economics will be sponsoring a session at the 33rd New England Statistics Symposium (NESS) on May 15–17, 2019.

High Dimensional Econometrics

The technological innovations in information processing and the increased storage capability have made possible to collect very large data sets in various fields of economics and finance.

This session puts together 3 papers that present state-of-the-art techniques to deal with high dimensional issues in econometrics.

List of invited speakers:

(1) Fa Wang, Cass Business School, Fa.Wang@city.ac.uk, “Maximum Likelihood Estimation and Inference for High Dimensional Nonlinear Factor Models with Application to Factor-augmented Regressions”

(2) Yuan Liao, Rutgers Economics, yuan.liao@rutgers.edu, “Inference for Heterogeneous Effects Using Low Rank Estimation”

(3) Min Seong Kim, UConn Economics, min_seong.kim@uconn.edu, “Policy Analysis Using Panel and Multilevel Models with Group Interactive Fixed Effects”

Discussant: Jungbin Hwang, UConn Economics, jungbin.hwang@uconn.edu

Session Chair: Chihwa Kao, UConn Economics, chih-hwa.kao@uconn.edu

Information about the conference may be found online at https://symposium.nestat.org/

PhD Students to Present at New York Camp Econometrics XIV

Posted on March 25, 2019February 21, 2022 by McConnel, Mark

Three of our PhD students, Zhonghui Zhang, Huarui Jing, and Rui Sun, will be presenting their research at the New York Camp Econometrics XIV poster session in April:

“Mahalanobis Metric Based Clustering for Fixed Effects Model,” Chihwa Kao (University of Connecticut), Min-Seong Kim (University of Connecticut), and Zhonghui Zhang (University of Connecticut).

“The Robustness Study of Sieve Estimation on Asset Pricing Model,” Huarui Jing (University of Connecticut).

“Bias-Corrected Estimators in the Dynamic Panel Data Model,” Chihwa Kao (University of Connecticut), Long Liu (University of Texas- San Antonio) and Rui Sun (University of Connecticut).

For more information about the conference, see: New York Camp Econometrics XIV

Graduate Students in the Big Apple to Present New Work

Posted on March 15, 2019March 15, 2019 by McConnel, Mark

Graduate students Shiyi Chen, Edlira Cocoli, Treena Goswami, Xin Liang, and Patralekha Ukil presented papers at the Annual Conference of the Eastern Economics Association in New York, Feb. 28–Mar. 3. Paper titles are listed below. If you see them in the hallways, be sure to ask them about their research.

Shiyi Chen: Affirmative Action and Interracial Marriage

Edlira Cocoli: The Impact of Promise Programs on Student Enrollment: A Nationwide Analysis of Enrollment Impact by Gender, Race and Program Type

Treena Goswami: High Skilled Immigrant Inflows and More Managerial Natives?

Xin Liang: Early Retirement, Pension System and the High Saving Rate in China, University of Connecticut

Patralekha Ukil: Parental Economic Shocks and Infant Health

Have a look at a tweet about Patralekha’s presentation here, and you can see the full EEA program here.

UConn-Stamford FED Challenge Team Earns Honorable Mention at Competition in NYC

Posted on January 10, 2019January 10, 2019 by McConnel, Mark

The UConn-Stamford FED Challenge team earned honorable mention in the Federal Reserve Bank of New York 2018 College FED Challenge competition. This marked the third consecutive year of participation in the competition by the Stamford Campus team and the first time advancing to the semi-final round. The competition started with 39 teams in the initial round on October 24. The UCONN-Stamford team advanced to the semi-final round held on November 14 among only eight teams. Rutgers University-New Brunswick placed first and advanced to the final round held in Washington DC November 29. Columbia University placed second. UConn-Stamford earned Honorable Mention along with Fairfield University, Fordham University, Siena College, and SUNY-Oneonta.

The College Fed Challenge is a team competition for undergraduate students. Teams analyze economic and financial conditions and formulate a monetary policy recommendation, modeling the Federal Open Market Committee. The Federal Reserve Bank of New York is one of four Federal Reserve Banks that host the College Fed Challenge Competition. The regional winners go to the final round at the Board of Governors in Washington D.C.

UCONN-Stamford team was comprised of 3 presenters: Ignacio Gonzalez, Jonathan Herrick, and Brendan Armburst-Mulcahey. The team coach was Di Yang, (Stamford Business School MBA). The researchers who helped prepare the team for the competition were Aditya Dadavai, Sijie Hu, Lingyi Zhu, and Roma Roma (all in the Stamford Business School BPMA Program). Faculty advisors were professors Natalia Smirnova, Steven Lanza, Kanda Naknoi, and Oskar Harmon. The team benefited from practice sessions of challenging questions with volunteer members of the Fairfield Business Community.

The team participants shown in the picture at the awards ceremony at the FRBNY are (from left to right): Brendan Armburst-Mulcahey, Di Yang, Natalia Smirnova, Jonathan Herrick, Ignacio Gonzalez, Oskar Harmon.

Professor Randolph receives Grawemeyer Award for Improving World Order

Posted on December 6, 2018December 7, 2018 by McConnel, Mark

Professor Susan Randolph has received the Grawemeyer Award for Improving World Order. Professor Randolph’s work is being furthered through the Human Rights Measurement Initiative, HRMI (pronounced Her Me) – https://humanrightsmeasurement.org – targeted to human rights advocacy groups and civil society.

As described in an article for UConn Today by Kathryn Libal, Director of UConn’s Human Rights Institute:

https://today.uconn.edu/school-stories/uconn-professor-recognized-improving-world-order

Longtime University of Connecticut professor Susan Randolph received the prestigious Grawemeyer Award for Improving World Order, which honors those who take on issues of global concern and present ideas that inspire others and can lead to a more just and peaceful world.

Randolph, the Gladstein Committee Member and Professor Emeritus in Economics, was jointly recognized for the 2019 award from the University of Louisville along with collaborators and book co-authors Sakiko Fukuda-Parr, of The New School in New York City, and Terra Lawson-Remer, Stanford University.

The three were named co-winners for the ideas set forth in their book, Fulfilling Social and Economic Rights. The work, published in 2015 by Oxford University Press, offers a method for gauging how well nations are providing basic human rights of food, health, education, housing, work and social well-being to their citizens and suggests how they can advance such rights even further.

The trio used the United Nations’ 1948 Universal Declaration of Human Rights and 1966 International Covenant on Economic, Cultural and Social Rights as a basis for their work, creating a new tool, the Social and Economic Rights Fulfillment (SERF) Index, to measure nations’ progress toward human rights goals. Their book also sheds light on policies that advance human rights and explains how use of these policies and public pressure can lead to results.

“Scholars working across disciplines have used the SERF to forge new tools for shaping policy and scholarship, driving more inclusive and dynamic approaches to economic development,” said Shareen Hertel, co-director of UConn’s Research Program on Economic and Social Rights.

Although the authors noted there has been steady progress in social and economic rights fulfillment over the past 30 years, they found that disparities still exist in every region of the world. Their measurement tool is aimed at helping governments and other organizations address those disparities.

In 2016, the book won the American Political Science Association’s Human Rights Section Best Book Award.

Previous winners of the Grawemeyer Award for Improving World Order include Mikhail Gorbachev, honored for his 1988 address to the United Nations which led to the effective end of the Cold War and paved the way for the democratization of Eastern Europe and the Baltic republics; Trita Parsi, for his work toward reducing tensions in the Middle East; and Dana Burde, for her work examining the influence foreign-backed funding for education has on war-torn countries and how such aid affects humanitarian and peace-building efforts.

Recipients of the 2019 Grawemeyer Awards are being named this week pending formal approval by university trustees. The annual, $100,000 prizes reward outstanding ideas in music, world order, psychology, education and religion. Winners visit Louisville in April to accept their awards and give free talks on their winning ideas.

https://today.uconn.edu/school-stories/uconn-professor-recognized-improving-world-order

UConn Economics Ranked Among Top 50 Programs

Posted on September 24, 2018 by McConnel, Mark

The Department of Economics at UConn was recently ranked among the top 50 economics programs in the United States based on total research productivity of its faculty. The ranking, produced by Academic Analytics, considered a number of factors such as articles published by department members and their visibility as well as grants received. Comparably ranked departments include Boston College, the University of Arizona, and the University of Colorado.

Professor Miceli Publishes Law and Economics: Private and Public

Posted on August 7, 2018 by McConnel, Mark

Law and Economics: Private and Public, a coursebook by Professor Thomas Miceli and co-authors, is now available. From the publisher:

This accessible volume integrates wide-ranging economic methodologies with a vast array of legal subjects. Coverage includes the first-year law school curriculum along with institutions and doctrines comprising the core foundation of upper level legal study. Dedicated chapters introduce neoclassical economics, interest group theory, social choice, and game theory, and the book intersperses alternative methodological insights.

The analysis synthesizes these methodologies with modern and classic case law, other legal materials, and policy discussions inspired by current events. Ideal for a law school seminar or capstone course, this unique volume is also perfectly suited for business school courses on legal methods and public policy. Professors will find a rich array of materials adaptable to varying pedagogical styles and substantive areas of emphasis. Students exploring these materials will emerge with a deeper understanding of law and economics and a greater appreciation of our lawmaking institutions.

https://faculty.westacademic.com/Book/Detail?id=18210&q=stearns

Professor David Simon Receives AEJ Best Paper Award

Posted on August 7, 2018August 7, 2018 by McConnel, Mark

The 2018 American Economic Journal Best Paper Award for AEJ: Economic Policy has been awarded to Professor David Simon and co-authors for their paper “Income, the Earned Income Tax Credit, and Infant Health“

AEJ: Economic Policy

In “Income, the Earned Income Tax Credit, and Infant Health,” authors Hilary Hoynes, Doug Miller, and David Simon evaluate the impact of the Earned Income Tax Credit on infant health outcomes. The EITC provides a tax credit to lower income working families, and the authors demonstrate that it increases average birth weights and decreases the incidence of low birth weights — especially among the newborns of African American mothers. The authors argue that the health benefits of nonhealth programs, such as the EITC, should be taken into account when discussing the U.S. social safety net. (AEJ: Economic Policy Vol. 7, No. 1, February 2015)

Professor Miceli’s Contemporary Issues in Law and Economics

Posted on April 20, 2018 by McConnel, Mark

Routledge has just published Contemporary Issues in Law and Economics by Thomas J. Miceli.

Law and economics is the field of study devoted to understanding laws and legal institutions using the tools of economic theory. This growing subject has become a mainstream area of study in both law schools and economics departments and this book explores the “law and economics” approach to some of the most interesting questions, issues, and topics in law, order, and justice.

Contemporary Issues in Law and Economics considers what economists call the “positive” analysis of the law – that is, using economic theory to explain the nature of the law as it actually exists. As part of this approach the author examines questions such as, what is the economic basis for the predominance of negligence rules in tort law? And, what is the explanation for the illegality of blackmail? Furthermore, another set of questions arises where the law seems to depart from the prescriptions of economic theory, and these issues are also examined in this volume. For example, the deeply rooted norm of proportionality between punishments and crimes, and the use of escalating penalties for repeat offenders, are both explored.

With self-contained chapters written in a non-technical style, this book offers a rigorous discussion of the above themes while remaining accessible to those without formal legal or economic training. It offers the ideal introduction to the field of law and economics while also providing a basis for students in more advanced courses.

https://www.routledge.com/Contemporary-Issues-in-Law-and-Economics/Miceli/p/book/9781138099760