Faculty and Staff Profiles

Working Papers:

“Does Public Consumption Increase Economic Growth?” with Young Seob Son (2016)  

Honors/Awards

• Excellence in Teaching Award - National Society of Leadership & Success - 2016
• Best Paper Award (Second Place, Conceptual Category) - Fogelman College - 2016
• Best Paper Award (Second Place, Conceptual Category) - Fogelman College - 2014
• Great Oaks Foundation Professor - Fogelman College - 2013
• Best Paper Award (2nd Place, Conceptual Category) - Fogelman College - 2010
• Dean's Service Award - Fogelman College - 2009
• Best Paper Award (2nd Place, Conceptual Category) - Fogelman College, University of Memphis - 2008
• Distinguished Research Award in the Social Sciences & Business - Alumni association, University of Memphis - 2008
• Best Paper Award (2nd Place, Conceptual Category) - Fogelman College, University of Memphis - 2006
• Palmer Award for Research - Fogelman College, University of Memphis - 2006
• University Distinguished Teaching Award - University of Memphis - 2006
• Summer Research Grant - Pamplin School of Business, VPI & SU - 1988
• Tipton R. Snavely Award for Best Dissertation - Department of Economics, University of Virginia - 1988
• Certificate of Teaching Excellence - MBA Association, VPI & SU - 1989
• Certificate of Teaching Excellence - Pamplin College of Business, VPI & SU - 1989
• Summer Research Grant - Fogelman College of Business, University of Memphis - 1993
• Best Paper Award ( Second Place, Theoretical Category) - Fogelman College of Business, University of Memphis - 1997
• Summer Research Grant (with Michael Gootzeit) - Fogelman College of Business, University of Memphis - 1998
• Summer Research Grant - Fogelman College of Business, University of Memphis - 1999
• Summer Research Grant (with Kee Chung) - Fogelman College of Business & Economics - 2001
• Summer Research Grant (with Heng-fu Zou and Yulei Luo) - Fogelman College of Business & Economics - 2002
• Best Paper Award ( First Place, Conceptual Category) - Fogelman College of Business & Economics - 2002

• "Forward Exchange Rates in General Equilibrium," Journal of International Money & Finance 10 (1991), pp. 497-511.
• "Price Discrimination with Correlated Demands," with Catherine Eckel, Southern Economic Journal 59 (1992), pp. 58-65.
  
• "Investment, Uncertainty, and Price Stabilization Schemes," Journal of Economic Dynamics and Control 18 (1994), pp. 561-579.
• "It Pays to Be Different: Endogenous Heterogeneity of Firms in an Oligopoly," with David Mills, International Journal of Industrial Organization 14 (1996), pp. 317-329.
  
• "Taxes, Uncertainty, and Long-Term Growth," European Economic Review 40 (1996), pp. 1647-1664. 
  
• "Feasibility and Transversality Conditions for Models of Portfolio Choice with Non-Expected Utility in Continuous Time," Economics Letters 53 (1996), pp. 123-131.
  
• "The Treatment of Medical Indebtedness in Personal Bankruptcy," with Dennis Wilson, John Rogers, and Cyril Chang, The Journal of Economics 23 (1997).  
• "Birth, Death and Consumption: Overlapping Generations and the Random Walk Hypothesis," International Economic Journal 23 (1998), pp. 105-116.
• "Risk, the Spirit of Capitalism and Growth: the Implications of a Preference for Capital," Journal of Macroeconomics 21 (1999), pp. 241-262.
  
• "The Calculus of Fear: Revolution, Repression, and the Rational Peasant," with Julia Heath, David Mason, and Joseph Weingarten, Social Sciences Quarterly 81 (1999).
• "How Does the Spirit of Capitalism Affect Stock-Market Prices?" Review of Financial Studies 14 (2001): 1215-1232.
  
• "Shipping the Good Times Out: A Note on Apples and Donations of Time and Money," with Cyril Chang, Economics Bulletin January 2002.
  
• "Marshallian Recursive Preferences and Growth," with Michael Gootzeit and Johannes Schneider, Journal of Economic Behavior & Organization 49 (2002): 381-404.
• "Consumption and Saving With Habit Formation and Durability," Economics Letters 75 (2002): 369-375. 
  
• "But Can She Cook? Women's Education and Housework Productivity," with David Sharp, Julia Heath, and David Knowlton, Economics of Education Review 23 (2004): 605-614.
  
• "Can the Desire to Conserve Our Natural Resources Be Self-Defeating?" with Young Seob Son, Journal of Environmental Economics & Management 49 (2005): 52-67.  
•  "Equilibrium Consumption and Precautionary Savings in a Stochastically Growing Economy," with Stephen Turnovsky.  Journal of Economic Dynamics & Control 30 (2006), 243-278.  
• "Fertility, Volatility, and Growth," with Aude Pommeret.  Economics Letters 87 (2005): 347-353  
• “Why Do Pooled Forecasts Do Better Than Individual Forecasts?  An Alternative Explanation,” with Diego Nocetti, Economics Bulletin, Vol 4, No. 36 (2006).
  
•  “Asset Pricing with Multiplicative Habits and Power-expo Preferences,” with Richard Zhang, Economics Letters March (2007): 319-325.
  
•  “Consumption and Risk with Hyperbolic Discounting,” with Heng-Fu Zou and Liutang Gong, Economics Letters 96 (2007): 153-160.
  
•  “Inspecting the Mechanism Exactly:  A Closed-form Solution to a Stochastic Growth Model,”BE Contributions to Macroeconomics (August2007).
• “The Spirit of Capitalism and Excess Smoothness,” with Yulei Luo and Heng-fu Zou, Annals of Economics & Finance 10 (2008): 281-301.
  
• “The Spirit of Capitalism, Precautionary Savings, and Consumption,” with Yulei Luo and Heng-fu Zou,” Journal of Money, Credit, & Banking 41 (2009): 543-554.
• “Time Diversification: Definitions and Some Closed-form Solutions,” with Kee Chung and Tao Wu, Journal of Banking & Finance 33 (2009): 1101-1111.
• “Uncertainty, the Demand for Health Care, and Precautionary Saving,” with Diego Nocetti, BE Advances in Economic Analysis & Policy vol. 10, issue 1(2010). 

• “Price Uncertainty, Saving, and Welfare” (2011), with Diego Nocetti, Journal of Economic Dynamics and Control 35, 1139-1149

• “Precautionary Savings and Labor Supply with Non-Expected Utility Preferences,” with Diego Nocetti (2011),  Journal of Money, Credit & Banking 43, 1475-1504.
  

• “A New Look at the Determinants of the Ecological Discount Rate: Disentangling Social Preferences,” with Luciana Echazu and Diego Nocetti, B.E. Journal of Economic Analysis & Policy, Advances (2012).
• "The Effects of Wage Volatility on Growth," with Michael Jetter and Olexander Nikolsko-Rzhevskyy, Journal of Macroeconomics 37 (2013), pp. 93-109.
  
• "Saving-Based Asset Pricing," with Johannes Dyer and Johannes Schneider, Journal of Banking and Finance 37 (2013), pp. 3704-3715,
  
• "The Discriminating beta: Prices and Capacity with Correlated Demands," with Catherine Eckel, (2014), Southern Economic Journal 81: 56 - 67.
• "Changes in Risk and Strategic Interaction," with Diego Nocetti (2015), Journal of Mathematical Economics 56, 37 - 46.