2014-15 Economics Department Newsletter, Vol. 3
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Economics Department Newsletter

September 25, 2014
In This Issue:
  • Seminars and Events
  • Employment Opportunities
  • Meet The Professor
Seminars and Events:

Monday, September 29;  4:00pm, Griffin 6
Economics Class of 1960 Scholars Seminar"Beggar-thy-Neighbor Effects of Exchange Rates?  A Study of the Renminbi"  by Prachi Mishra, International Monetary Fund

From the abstract:  “This paper estimates the effect of China’s exchange rate changes on exports of developing countries in third markets. We develop an identification strategy in which the degree of competition between China and its developing country competitors in specific products and destinations plays a key role. We exploit variation across exporters, importers, products and time—afforded both by disaggregated trade data and bilateral exchange rates—to estimate this “competitor country effect.” We find robust evidence of a statistically and quantitatively significant effect. Our estimates suggest that a 10 percent appreciation of China’s real exchange rate boosts a developing country’s exports of a 4-digit HS product category to third markets on average by about 1.5-2 percent."


Tuesday, September 30;  12:30pm, CDE Building (1065 Main Street)
CDE Development Dialogue:  "Monetary Transmission in Developing Countries" by
Prachi Mishra, International Monetary Fund

[Note: Reservations are required due to limited seating. If you are interested in attending, please email Karima Barrow at and she will let you know if space is still available.]


Wednesday, October 1;  4:00pm, Griffin 7
Economics Department Seminar:  "Sorting Through Affirmative Action: Three Field Experiments from Columbia" by Ashok Rai, Williams College Economics Department

From the abstract:  “Affirmative action to promote women's employment is an intensely debated policy. Basic questions on its effectiveness remain unresolved. Do affirmative action policies attract women as they are supposed to and does it come at a cost of deterring high qualified men? In three field experiments in Colombia we compare the characteristics of job applicants who are told of the affirmative action selection criterion before they apply with those who are only told after applying. We find that the gains in attracting female applicants far outweigh the losses in male applicants. Intriguingly, women who apply under affirmative action are more conscientious and score higher on a probability test than those who apply without.  And men with children seem to be deterred from applying."
Employment Opportunities:

Federal Reserve Bank of St. Louis - Research Analyst Job Openings
The Federal Reserve Bank of St. Louis is seeking research analysts to start in the spring/summer of 2015.  This position provides you with an opportunity to learn about economics in the United States through the perspective of the Federal Reserve System.  See this
flyer for more information, or go to

Cornerstone Research - Full-time Analyst
As you begin exploring options for life after graduation, Cornerstone Research invites you to explore the Analyst experience.  Resumes are being accepted until Monday, September 29, 2014 at 11:59 p.m.  Applicants from all academic backgrounds are welcome to apply.  More information is available via their
flyer and website.
Meet The Professor:  Greg Phelan

Greg Phelan joined Williams this year and teaches courses in macroeconomics and financial theory. Professor Phelan's research studies how financial market imperfections affect equilibrium outcomes in the aggregate economy, focusing in particular on financial intermediation and the role of collateralized borrowing. He enjoys cooking at a low heat for a long time, drinking coffee, hiking, good conversation, reading, and doing any and all of these things with his wife and son.


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