Faculty

Professor Miceli’s Contemporary Issues in Law and Economics

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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

Steve Ross published in REStat

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Steve Ross’s recent paper on the effect of the No Child Left Behind Act on local property values with Steve Billings and Eric Brunner was just published in the first issue of 2018 in the Review of Economics and Statistics.

In this paper, they show that property values near failing schools sometimes actually increase in value consistent with individuals moving into those neighborhoods to take advantage of the enhanced school choice opportunities available when a family’s children are assigned to a failing school.

Two Faculty Members Receive Journal of Human Resources Acceptances in the Same Month

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Professor Simon and Professor Furtado both had papers accepted at the Journal of Human Resources in the fall semester.

Professor Simon’s paper, “The Effects of Aggregate and Gender-Specific Labor Demand Shocks on Child Health,” coauthored with Marianne Page and Jessamyn Schaller, considers the relationship between local labor market conditions and child health. The paper shows that local (state level) labor market recessions that primarily affect women increase maternal time spent at home and improve child health, whereas recessions that affect men have the opposite effects. These patterns suggest that both maternal time and family income are important inputs to child health.

Professor Furtado’s paper, “Settling for Academia? H-1B Visas and the Career Choices of International Students in the United States,” coauthored with Catalina Amuedo-Dorantes, examines whether international students respond to U.S. immigration policy when making career decisions. The authors find that international students who require H-1B visas to work in the United States became more likely to pursue careers in academia -a sector not subject to H-1B visa caps- after the H-1B visa cap was lowered in 2004.

The Journal of Human Resources is a leading journal in applied microeconomics. According to the 2016 ISI Journal Citation Reports, the journal has an impact factor of 4.047. The journal’s website reports an acceptance rate of 4 percent.

 

Professor Zhao Published in Journal of Monetary Economics

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Professor Zhao’s paper “The Chinese Saving Rate: Long-Term Care Risks, Family Insurance, and Demographics” has been accepted for publication in the Journal of Monetary Economics, a top macro journal.

In this article, Professor Zhao and his coauthor find that the combination of the risks faced by the elderly and the deterioration of family insurance due to the one-child policy is an important cause of the increase in China’s saving rate since 1980. This paper is the first major paper growing out of their research agenda on the Chinese economy and its implications for the rest of the world.

Professor Zhao’s article can be found at his website:  https://sites.google.com/site/kaijackiezhao/research

Ken Couch Receives Federal Research Funding

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Professor Kenneth Couch of the University of Connecticut Department of Economics recently received Federal funding of his research regarding possible adjustments of Social Security Retirement Benefits for differential longevity.

The population of the United States is living longer but gains in longevity have been unequal across income groups and this affects lifetime benefit receipt over successive generations of Americans. Funding from the Social Security Administration supports research by Couch and his collaborators into potential approaches for adjusting benefits to account for these changes.

Professor Harmon joins the AEA Committee on Economic Education

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Professor Oskar Harmon has been invited to serve a three-year term on the American Economic Association Committee on Economic Education, ending December 31, 2020.

The Committee organizes the program for the annual Conference on Teaching and Economic Education (CTREE) and the Economic Education session for the annual ASSA meetings that goes into the AER P&P.

Professor Ross Published in Review of Financial Studies

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Professor Ross’s paper “What Drives Racial and Ethnic Differences in High-Cost Mortgages? The Role of High-Risk Lenders” was just published in the Review of Financial Studies, a Top 3 Finance Journal.

This paper documents the existence of large differences in the cost of credit for minority borrowers, and the fact that most of the racial differences arise across lenders, rather than being driven by lenders who treat equally qualified minority borrowers differently than white borrowers.  The paper shows that these effects are primarily driven by lenders whose loans tended to have very high default rates during the crisis.

https://academic.oup.com/rfs/issue/31/1

Professor Langlois Quoted in the Stamford Advocate

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Professor Richard Langlois was quoted in an article in the Stamford Advocate, commenting about the Federal Trade Commission response to a possible acquisition by Stamford-based chemical company Tronox .

The article is online at:  http://www.stamfordadvocate.com/business/article/Tronox-grapples-with-litigation-on-planned-12434139.php

Econ Undergraduate Students Present at the Boston Fed Challenge

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Congratulations to the undergraduate students from the Storrs campus who took part in the College Fed Challenge!

Tyler DiBrino, Gabriel Hack, Max Karsanow, Ari Nishimura-Gasparian, John Roberts, Alexander Rojas, Joaquin Sanchez, and Timothy Sullivan all participated on behalf of the University of Connecticut – Storrs in the 2017 Fed Challenge held at the Boston Fed on Friday, November 3rd. The students, and their faculty advisors Derek Johnson and Owen Svalestad, are shown at left in Boston.

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.”