Affiliated Faculty

Kehinde Ajayi’s current research focuses on education and youth employment in Africa. She continues to work on a project that examines the schooling choices of secondary school students in Ghana. Key questions in this project include: What kind of information influences schooling decisions? Do differences in male and female labor market opportunities affect choices about what field to study? And how does school quality affect student outcomes? She is also pursuing a project on the determinants and effects of public sector employment.

Marianne Baxter’s research is in the fields of macroeconomics and international economics.  In research related to her prior work on macroeconomic consequences of home production, she has been engaged in a large-scale econometric analysis of household expenditures and household time use as they pertain to home production.  She is also working with a new data set using IKEA catalogs from many countries and up to twenty years to study the determinants of departures from the law of one price.

Samuel Bazzi’s research interests span labor and macroeconomics. His current research examines the role of labor mobility in the development process. He has studies looking at how income growth in poor countries affects international migration,  the role of recruiter intermediaries in facilitating international labor mobility,  the importance of migrants’ skill transferability for regional economic development, and the effect of trade liberalization on labor reallocation across firms. Other work investigates the causes of conflict and barriers to the entry and growth among small firms. His primary ongoing projects are in Brazil and Indonesia.

Christophe Chamley’s research is on social learning, coordination of expectations and markets in macroeconomics, and in the history of states’ finances from 5000 BC to the 19th century.

Francesco Decarolis  specializes in industrial organization with a focus on auctions, health insurance, and anti-competitive behavior. His recent research concerns the effects produced by different auction formats in the context of public procurement auctions and the effects on insurers competition of government subsidies in Medicare.

Randall Ellis’ recent research focuses on how payment systems affect consumers, health care providers and health plans.  In June 2014 he will be completing his final two years as Past President of the American Society of Health Economists.  His research on risk adjustment and predictive modeling resulted in payment models being used in the US since 2000 and Germany since 2009, with similar models being evaluated in other countries. During the past year Ellis has given talks in the US and Australia. He is currently collaborating with researchers in the US, Australia, Chile, and China, and as well as with multiple graduate students on US and developing country topics.

Carola Frydman works at the intersection of economic history, corporate finance, and labor economics.  Recently, she investigated changes in executive compensation, the market for managers, and income inequality in the U.S. over the twentieth century.  Her current project studies the evolution of businesses organizations and financial markets from 1900 to 1930, focusing on the value of connections to bankers through boards of directors, and the detrimental consequences of these ties on firm outcomes during financial crises.

Stefania Garetto’s current research analyzes the risk implications of firms’ international operations. She integrates new trade theory and theoretical asset pricing models to analyze both qualitatively and quantitatively the economic drivers of international activity and their consequences. In a series of related papers, she has analyzed the relationship between export/FDI status and financial indicators. Her current work focuses on banks’ international activities.

Simon Gilchrist’s research studies the effects of financial market imperfections and financial crises on real economic activity, with particular focus on the implications for investment behavior, business-cycle dynamics, and the conduct of monetary policy.  Recent work explores the predictive content of credit spreads for macroeconomic activity, and the effect of investment irreversibility on business cycle dynamics in environments where capital serves as a form of collateral in loan contracts.

John Harris works on issues of applied macroeconomic theory, regional and urban economics, and migration theory. His recent research includes comparative analysis of economic development in Africa and Southeast Asia. He also has extensive field experience in Africa and Asia, with emphasis on Indonesia, Uganda, Botswana, Kenya, Nigeria, Sudan, and Tanzania.

Leroy Jones  specializes in policy-oriented micro issues in developing countries. Particular areas of interest include public enterprise, privatization, government-business solutions and industrial organization. He has substantive experience in Indonesia, Korea, Pakistan, Venezuela and thirteen other countries. Professor Jones directs the Institute’s Program in Public Enterprise.

Robert King continues to focus his research on monetary policy and macroeconomics.  Particular areas of current interest are the nature of price dynamics; the influence of reputation and credibility on optimal monetary policy; and the history of banking markets.

Laurence Kotlikoff  specializes in public finance, macroeconomics, money and banking, computational economics, and personal finance.   He also works on the economics of robots. The author or co-author of 16 books and hundreds of journal articles, Kotlikoff is also a prolific columnist.   His columns have appeared in the NY Times, the Wall Street Journal, Bloomberg, Forbes,, and large numbers of the other top newspapers and magazines in the U.S. and overseas.  His recent work has focused on generational policy, limited purpose banking, corporate tax reform, computing large scale life-cycle models with aggregate shocks, and modeling the long-term impact of smart machines.

Kevin Lang continues to focus his research on education and labor markets, in the context of Israel and the US.  Along with Deepti Goel he is studying the role of social networks in the assimilation of immigrants to Canada.  His book, Poverty and Discrimination, was published by Princeton University Press in 2007.

Robert Lucas’s recent work focuses on migration. A chapter on African migration is forthcoming in the North-Holland Handbook series. Lucas has also edited a handbook on international migration and economic development, which is currently in press with Elgar. For that volume he prepared a chapter on the link between bilateral trade and international migration, including fresh evidence derived from the most extensive data available to date. In 2014 Lucas presented a paper on internal migration and economic development in the low income countries at a World Bank conference in Dhaka, Bangladesh. In addition, Lucas has been acting as a member of the advisory committee on remittances to G8 countries and of the steering committee for the Global Research Competition organized by the Global Development Network.

Robert A. Margo is currently working on co-editing two NBER conference volumes, Human Capital in History: The American Record and Enterprising America: Businesses, Banks, and Credit Markets in Historical Perspectives.  His current IED working paper with Lawrence Katz is a forthcoming chapter in Human Capital in History.

Jianjun Miao continues to work on two lines of research. The first concerns macroeconomic implications of financial frictions: specifically business cycle and growth implications of bubbles and credit constraints. The second involves new models of ambiguity sensitive preferences and applications to macroeconomics and finance.

Dilip Mookherjee has been working on a combination of theoretical and empirical topics related to development economics. Current empirical projects include land policies, political economy, financial development and food marketing supply chains in South Asia, while theoretical topics include inequality, poverty and corruption control.

Andrew Newman is currently engaged in several research projects pertaining to development, organizational economics, inequality, and the economics of the household. Recent work involves developing a testable competitive equilibrium framework for studying how firms’ internal organization decisions such as outsourcing or vertical integration interact with markets and how those decisions in turn affect product market performance, particularly in the face of globalization. He has been contributing to the economic theory of matching markets and applying that to affirmative action policies.  He is also exploring how the processes by which people learn about their economic environment can lead to organizational dysfunction and change.

Claudia Olivetti specializes in labor economics and economic history. She has written on the causes of the changing role of women in the family and in the workplace, and on the consequences of this change (with both a US and cross country focus). Her current research explores the role of early socialization for the formation of gender norms and investigates the link between marriage and intergenerational mobility in a historical perspective.

Daniele Paserman specializes in labor, applied microeconomics, political economy and behavioral economics.

Pankaj Tandon concentrates on technological change, microeconomics, public enterprises, and food policy. He has worked on evaluating privately financed infrastructure projects and privatization programs. His main field experience has been in Egypt, India, Mexico, and Venezuela.

Professors Emeriti: Peter Doeringer, Shane Hunt, Gustav F. Papanek and Paul P. Streeten