The New York FED is one of five Federal Reserve Banks that host the FED Challenge Competition. The regional winners go to the final round at the FED in Washington D.C. 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 5 team participants were:
Front row: Ryan Dodd, Olga Jaramillo; Middle row: Chris McLaughlin (a two time participant), graduate assistants PD Aditya and Gul-e-Rana; Back row: Esteban Peralta, Randall Giles.
The students were assisted in their preparations by Professors Oskar Harmon, Kanda Naknoi and Steven Lanza.
The team received invaluable assistance from three graduate student assistants (PD Aditya , Di Yang, and Gul-e-Rana from the Stamford Business School MBA.
Professor Kanda Naknoi presented her work at the UC Irvine Macroeconomics Seminar on May 17. The title of her presentation was “Why Are Exchange Rates So Smooth? A Household Finance Explanation”.
The paper for her presentation can be found at:
Professor Kanda Naknoi presented her work at Columbia University on April 19, 2017.
The event was sponsored by the Weatherhead East Asian Institute, and the topic of her talk was “Thai Economy under the Military Government”.
More information about the event may be found online at: http://weai.columbia.edu/event/thailand-update-conference-2017/
Professor Kanda Naknoi published a sole-authored article in the February 2017 issue of the Canadian Journal of Economics.
The title of her article is “Real Exchange Rate Fluctuations, Wage Stickiness and Tradability“
Abstract: When we classify factors of production by their tradability, the relative wage of nontraded labour influences the real exchange rate through the relative cost of distribution services. We confirm this prediction using monthly data on the sector-level US–Canada real exchange rate and the relative wage of service-producing labour. The relative wage accounts for 40% of the variability of the real exchange rate at a one-month horizon. Furthermore, when we use the effective nontraded labour content to classify goods into nontraded and traded ones, the variability of the price of the nontraded-goods basket accounts for more than half of the variability of the real exchange rate.
On March 6, 2017, Professor Kanda Naknoi gave a seminar at the Economic History Workshop at Yale University.
The title of her presentation was “Tariffs and the Expansion of the American Pig Iron Industry: 1870-1940”.
Congratulations to the undergraduate students from the Stamford and Storrs campuses who took part in the College Fed Challenge this month!
Sponsored by the Board of Governors of the Federal Reserve, 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 Stamford team (above left) participated in the NY Fed Challenge, competing against forty-one other schools.
The Storrs team (below right) presented at the Boston Fed Challenge, competing against twenty-four other New England schools.
Congratulations to both teams on all of their hard work in this competition!
Dr. Julia Coronado (Advisor)
Professor Oskar Harmon (Advisor)
Professor Steven Lanza (Advisor)
Professor Kanda Naknoi (Advisor)
Professor Owen Svalestad (Advisor)
Four UConn Economics Alumni participated in a panel on the topic ‘Jobs and Careers’ at the UConn Stamford Campus, March 30, 2016.
The event was attended by 35 economics majors.
The participating alumni: Vitalie Alexandru ’13 (CLAS), currently Financial Analyst – Stress Testing, People’s United Bank; Michael Alpert ’90 (CLAS) Portfolio Manager, Stralem & Company; Pedro DeAbreu ’15 (CLAS) Gartner , Inc.; and Marketing Specialist; and Charles Triano ’87 (CLAS) Senior Vice President, Investor Relations, Pfizer, Inc.
All panelists graduated with a major in Economics, two from the Storrs Campus, and two from the Stamford Campus. All were generous with their time, advice regarding courses and participation in college life, and praise for the quality of the UConn undergraduate experience.
Matt Fraulino, CLAS Assistant Director of Alumni Relations Alumni Relations, provided invaluable assistance in organizing the event. The event was co sponsored by: UConn CLAS Alumni Relations, UConn Foundation, and the UConn Stamford Economics Club.
Professor Naknoi presented her paper titled “Tariffs and the Expansion of the American Pig Iron Industry, 1870-1940” in the International Economics Seminar at Vanderbilt University on April 8, 2016.
Her study examines the benefit of the protection of the American pig iron industry. She illustrates that the protection was critical for the industry before 1890.
Professor Naknoi presented her paper titled “Exchange Rate Pass-Through and Market Structure in a Multi-Country World” in the ASSA Meeting/Econometric Society Meeting in San Francisco on January 4, 2016.
Her model proposes a theory that exporters take into account competing exporters’ currency appreciation in their price setting. In addition, her study provides evidence supporting her theory using data on prices of Canada’s exports to the U.S.
Information about her session is online at:
Professor Naknoi’s paper titled “Real Exchange Rate Fluctuations, Wage Stickiness and Tradability” has been accepted for publication in the Canadian Journal of Economics.
Her study demonstrates that when factors of production is classified by their tradability, the relative wage of nontraded labor influences the real exchange rate through the relative cost of distribution services. She employs monthly data on the sector-level U.S.-Canada real exchange rate and the relative wage of service-producing labor. The relative wage accounts for 40% of the variability of the real exchange rate at a one-month horizon.
Furthermore, she constructs a measure of effective nontraded labor content to classify goods into nontraded and traded ones, and shows that the variability of the price of the nontraded-goods basket accounts for more than half of the variability of the real exchange rate.