CHICAGO - University of Chicago Department of Economics

pdf file revised 12/4/07 -- jal
THE UNIVERSITY OF
CHICAGO
DEPARTMENT OF ECONOMICS
Placement Packet:
2007-2008 Job Market Candidates
October 2007

PRIMARY/SECONDARY FIELDS
2007-2008
Job Market Candidates
by Field
Applied Econometrics
Applied Microeconomics / Price Theory
Computational Economics
Contract Theory
Corporate Finance
Development
Econometrics
Economic History
AGRAWAL, Ashwini K. P P S X X
BATISTA, Catia S P P S P X X X
CARVALHO, Vasco M. P S S S P X X X
CHERIF, Abderrahmane R. P S P P S X X X
CHOI, Seung Mo S S P P P X X X
DE LOS SANTOS FLORES, Babur I. P P P S X X X
FIACCADORI, Marco P P S P S S X X X
FILLAT, Jose L. S S S P S P X X X
GARDUNO, Hugo A. S P S P X X X
GARETTO, Stefania S S P P X X X
GUO, Sheng P S S P S X X X
KAMDAR, Amee P P S P P X X X
KENDALL, Todd D. P P P S X
KIM, Young-Il Albert P S S X X X
KORIYAMA, Yukio S P P S P X X X
KOVRIJNYKH, Andrei P S P S X X X
KOVRIJNYKH, Natalia S P S P X X X
LI, Bin P S P P X X X
MATHEW, Benjamin G. P P P P X X X
MATHUR, Divya P P S P S X X X
MELZER, Brian T. P P S P X X
Economic Theory / Mathematical Econ
Environmental/ Natural Resource/ Urban Economics
Experimental Economics
Finance / Financial Economics
Growth
Health Economics
Industrial Organization / Theory of the Firm
International Economics
Labor / Human Capital
Law & Economics / Political Economy
Macroeconomics / Money & Banking
Population Economics / Demography
Public Finance / Public Sector
Other
Private Sector
Public Sector
Academic Sector
Page 1

PRIMARY/SECONDARY FIELDS
2007-2008
Job Market Candidates
by Field
Applied Econometrics
Applied Microeconomics / Price Theory
Computational Economics
Contract Theory
Corporate Finance
Development
Econometrics
Economic History
MITYAKOV, Sergey P S P P S S X X X
PAWASUTIPAISIT, Anan P P S S X X X
PIONER, Heleno Martins S S P P X X X
STIXRUD, Jora Beth S P P X X X
TOMARELLI PETKUS, Marie P S S P S X X X
VELA TREVINO, Oscar E. P S P S X X X
VICENTE, Pedro C. S P S P P X X
YAMADA, Hiroyuki P P S P P S X X X
Economic Theory / Mathematical Econ
Environmental/ Natural Resource/ Urban Economics
Experimental Economics
Finance / Financial Economics
Growth
Health Economics
Industrial Organization / Theory of the Firm
International Economics
Labor / Human Capital
Law & Economics / Political Economy
Macroeconomics / Money & Banking
Population Economics / Demography
Public Finance / Public Sector
Other
Private Sector
Public Sector
Academic Sector
revised 12/4/07 - jal
Page 2

ASHWINI K. AGRAWAL
home.uchicago.edu/~AAGRAWA1
aagrawal@chicagogsb.edu
5532 South Kenwood Ave., Apt. 208
Chicago, IL 60637
Cell: 773.677.8073
Citizenship: USA
Undergraduate Studies:
Massachusetts Institute of Technology, 1998-2002
B.S. in Economics and B.S. in Mathematics and Computer Science
Graduate Studies:
University of Chicago, 2003-2008
Ph.D in Economics and M.B.A. in Finance
Thesis Title: “Essays on corporate governance and the role of labor unions”
Thesis Committee and References:
Professor Marianne Bertrand, Chicago GSB
Professor Steven N. Kaplan, Chicago GSB
Professor Morten Sorensen, Chicago GSB
Professor Joshua Rauh, Chicago GSB
Research and Teaching Fields:
Corporate finance (corporate governance, financial development); Labor economics
Teaching Experience:
Summer, 2007
Winter, 2006-2007
Corporate Finance (M.B.A.), teaching assistant (T.A.) for Theo Vermaelen
Corporate Finance (Ph.D), T.A. for Steven Kaplan and Morten Sorensen
Research and Professional Experience:
2004-2006 Research Assistant for Marianne Bertrand, University of Chicago
2002-2003 Investment Associate, Putnam Investments
2002-2003 Research Assistant for David Autor, Massachusetts Institute of Technology
2002-2003 Research Assistant for Ernst Berndt, Massachusetts Institute of Technology
2001-2002 Research Assistant for Joshua Angrist, Massachusetts Institute of Technology
Honors, Scholarships, and Fellowships:
2007-2008 Fellowship, Wesley C. Picard Fund
2003-2007 Doctoral Fellowship, University of Chicago, Graduate School of Business
Job Market Paper:
“Governance Objectives of Labor Union Shareholders”
I compare the proxy voting behavior of several major institutional investors in director elections of 503
companies from 2003 to 2006. Using the 2005 AFL-CIO breakup as a source of exogenous variation in the
union affiliations of workers across firms, I find that AFL-CIO affiliated labor union funds become
significantly more supportive of director nominees when the AFL-CIO no longer represents workers at a
given firm. Other labor union funds and mutual funds do not exhibit the same change in behavior. I also
find that AFL-CIO funds are more likely to vote against directors of firms in which there is greater
frequency of plant-level conflict between labor unions and management during collective bargaining and
union recruitment. Additionally, there is evidence that AFL-CIO affiliated shareholders oppose
management directors more than independent nominees, particularly at firms in which the AFL-CIO
represents workers. The data indicate that the governance objectives of some labor union shareholders
reflect worker interests, and not simply the desire to maximize equity value.

CATIA BATISTA
Department of Economics
University of Oxford Phone: +44-7807-869135
Manor Road
catia.batista@economics.ox.ac.uk
Oxford, OX2 7BW, UK
http://www.economics.ox.ac.uk/members/catia.batista/
CURRENT Postdoctoral Research Fellow – Department of Economics, University of Oxford 2005 - present
POSITION Research Affiliate – Institute for the Study of Labor (IZA) 2005 - present
EDUCATION Ph.D. Economics University of Chicago, USA 2000-2005
M.A. Economics University of Chicago, USA 2000-2001
M.Sc. Economics, Magna cum Laude Katholieke Universiteit Leuven, Belgium 1997-1998
Licenciatura in Economics, Distinction Universidade Católica Portuguesa, Portugal 1993-1997
Visiting Student University of Warwick, UK 1996-1997
FIELDS OF Primary Fields: Economic Growth, International Trade and Migration, Macroeconomics
INTEREST Secondary Fields: Applied Econometrics, Labor Economics, Monetary Economics
JOB MARKET “Why Doesn't Labor Flow from Poor to Rich Countries? Micro Evidence from the European
PAPER Integration Experience”
WORKING “Trade, Specialization and the Marginal Product of Capital” (with Jacques Potin), Oxford Working
PAPERS Paper No. 357.
“Brain Drain or Brain Gain? Micro Evidence from an African Success Story” (with Aitor Lacuesta
and Pedro C. Vicente), IZA Discussion Paper No. 3035.
“Stages of Diversification and Specialization in a Heckscher-Ohlin World, 1976-2000” (with Jacques
Potin), Oxford Working Paper No. 356.
“Joining the EU: Capital Flows, Migration and Wages”, Oxford Working Paper No. 342.
“Can the Fund's Medium-Term Growth Projections Be Improved?” (with Juan Zalduendo), IMF
Working Paper No. 04/203.
“Skill Premium in Portugal: Some Evidence on the Capital-Skill Complementarity Hypothesis”, Working
Paper, University of Chicago.
“Current Account Disturbances, Wealth Effects and the Real Exchange Rate”, M.Sc. Dissertation,
Katholieke Universiteit Leuven.
RESEARCH International Monetary Fund – Policy Development and Review Department Jun-Oct 2003
EXPERIENCE Universidade Católica Portuguesa – Center of Applied Studies 1999-2000
TEACHING Univ. Oxford – Dep. Economics: Lecturer for Graduate International Trade, 2005-2006; Class Teacher
EXPERIENCE for Graduate Macroeconomics, 2005-2008;
Univ. Chicago – Dep. Economics: Lecturer for Intermediate Macroeconomics, 2003-2005; Teaching
Assistant for Introductory Macroeconomics and Introductory Microeconomics, 2002-2003;
Univ. Chicago – Graduate School of Business: Teaching Assistant for MBA Macroeconomics and MBA
Real Estate Finance and Economics, 2002-2003;
Univ. Católica Portuguesa – Dep. Economics: Teaching Assistant for Undergraduate Money and
Banking, Mathematics I and II, Portuguese Economy, Economic History, 1998-2000.
PRIZES AND University of Chicago – Esther and T. W. Schultz Endowment Fund Dissertation Fellowship 2004-2005
AWARDS University of Chicago – Division Social Sciences Graduate Fellowship 2003-2004
Fundação para a Ciência e Tecnologia, Portugal 2000-2004
Fundação Calouste Gulbenkian, Portugal 2000-2001
Best M.Sc. Dissertation of the Year, Summa cum Laude 1997-1998
European Union Socrates/Erasmus Scholarship 1996-1997
SEMINARS AND 2008: ASSA New Orleans;
PRESENTATIONS 2007: EEA Meetings, IZA/World Bank Conference, SOLE/IZA Transatlantic Conference, ESPE
Meetings, CSAE Conference, Univ. Manchester, Univ. Oxford (CSAE and Economics);
2006: Bank of Portugal Conference, ISEG - Lisbon, AFSE, ETSG, Univ. Oxford (CSAE and Economics);
2005: Oxford (Economics), Louvain, Bank of Portugal, Navarra, Aarhus, Rutgers, IMF, Universite
Quebec Montreal, North Carolina State University, EEA Meetings, ETSG;
2004/2003: University of Chicago, IMF.
REFEREE Journal of Development Economics; Oxford Bulletin of Economics and Statistics; Oxford Economic
REPORTS Papers; Oxford University Press.
LANGUAGES Portuguese (native), English (fluent), French and Spanish (working knowledge), German (basic).
REFERENCES Nancy Stokey +1-773-702-0915 n-stokey@uchicago.edu
Robert E. Lucas +1-773-702-8191 relucas@uchicago.edu
Casey Mulligan +1-773-702-9017 c-mulligan@uchicago.edu
Peter Neary +44-1865-271085 peter.neary@economics.ox.ac.uk

Vasco M. Carvalho
703 West Willow Street, #2A, Chicago, IL, 60614
(773) 936 0591
carvalho@uchicago.edu
http://home.uchicago.edu/~carvalho/
Education
Ph.D., Economics, University of Chicago, (expected) June 2008
M.A., Economics, University of Chicago, 2003
M.Phil., Economics, University of Cambridge, UK, 2000
Licenciatura, Economics, ISEG-Technical University of Lisbon, 1999
Fields
Macroeconomics, Econometrics, Applied Econometrics
Job Market Paper
"Aggregate Fluctuations and the Network Structure of Intersectoral Trade"
Whether and how realistic aggregate ‡uctuations in macroeconomic aggregates can obtain in multi-sector production
economies has been a long-standing question in the business cycle literature. The paper answers this question by analyzing
the structure of input-use relations through graph theoretical concepts and tools. Namely, the paper shows how di¤erent
assumptions on the structure of the input-use matrix can be represented as restrictions on the degree sequence of a
directed input-output network. The paper also shows that a power law assumption on the size distribution of input-supply
links provides a plausible restriction on the intersectoral trade network. The upshot of this power law structure is that
productivity ‡uctuations in large input-supplying sectors can have a disproportionately larger e¤ect in the aggregate
economy. In the context of a standard multisectoral model, the paper shows that this intuition goes through, by providing
analytical expressions linking the degree of fat-tailness of the distribution of input-supply links with the strength of the
propagation mechanism in a multisector economy.
Other Papers
"A Note on Common Cycles, Common Trends and Convergence", (with A.C.Harvey and T. Trimbur),
Journal of Business Economics and Statistics, 2007
"Convergence in the Trends and Cycles of Euro-Zone Income", (with A.C. Harvey),
Journal of Applied Econometrics, 2005
"Growth, Cycles and Convergence in US Regional Time Series", (with A.C. Harvey),
International Journal of Forecasting, 2005
"Monetary Regimes and Macroeconomic Performance in the Portuguese 20s",
R&R to European Review of Economic History, 2004
"Robust-Optimal Fiscal Policy", Work in Progress.
"Structure and Change in US Input-Output Networks", with Marta Sales-Pardo and Luis Amaral, Work in Progress.
Presentations
North American Summer Meeting of the Econometric Society (2007), Northwestern McCormick School of Engineering
and Applied Science (2006), Economic Dynamics Working Group (2004-2006), European Economic Association Summer
Meetings (2002), Growth and Business Cycles in Theory and in Practice Conference at University of Manchester (2002),
Economic History seminar at University of Warwick (2002), Department of Applied Economics seminar at University of
Cambridge (2002), European Historical Economics Society Conference (2001), Economics seminar at ISEG-UTL (2001).
Academic Work Experience
Lecturer, University of Chicago, Elements of Economic Analysis, Spring 2008
Teaching Assistant, University of Chicago, Elements of Economic Analysis, Winter 2004
Research Associate, DAE- University of Cambridge, 2000-2002
Undergraduate Supervisor, Churchill College, University of Cambridge, 2000-2002
Awards
Gulbenkian Foundation Fellowship, Homer and Alice Hanson Jones Scholarship, University of Chicago Social Sciences
Award, Tinker Grant for Field Research in Lower Orinoco (Venezuela), Ministry of Science and Technology, Chevening
Award (UK), Honorary Award and Fellowship from Cambridge European Trust .
References
Professor Lars P. Hansen, (773) 702-8170, l-hansen@uchicago.edu
Professor Robert E. Lucas, Jr., (773) 702-8191, relucas@uchicago.edu
Professor Timothy Conley, (773) 702-7281, tim.conley@gsb.uchicago.edu

ABDERRAHMANE R. CHERIF
5482, S.Greenwood Ave, Apt # 3
Chicago, IL 60615
Phone: (773)-667-5607
cherif@uchicago.edu
http://home.uchicago.edu/~cherif/
EDUCATION
Ph.D.
M.A.
M.Sc
Engineering Diploma
Economics
Economics
Economics
Statistics
UNIVERSITY OF CHICAGO
UNIVERSITY OF CHICAGO
LONDON SCHOOL OF ECONOMICS
ENSAE, PARIS
June 2008 exp.
June 2004
June 2002
June 2001
FIELDS
DISSERTATION
WORKING
PAPER
PROFESSIONAL
EXPERIENCE
TEACHING
EXPERIENCE
Primary Fields: Growth, Trade and Development
Secondary Fields: Monetary Economics and Econometrics
The OPEC Syndrome, Windfalls and Technological Diversification
Chair: Professor Robert E. Lucas, Jr.
I suggest a model of monopolistic competition mimicking OPEC economies and I study its
dynamics in the presence of learning by doing. I show that the level of technological
diversification as a function of windfalls is hump shaped. The more advanced is a country the
less sensitive it is to the level of windfalls. Depending on the level, timing and volatility of
the path of windfalls, diversification and growth can be accelerated or delayed. The
implications of the model shed a new light on the empirical investigation of the natural
resource curse.
Optimal monetary policy for a small open economy: the macroeconomic implications
of capital account liberalization in Tunisia.
With Paloma Anós Casero, senior economist, the World Bank Group.
THE WORLD BANK GROUP, MIDDLE EAST AND NORTH AFRICA REGION, WASHINGTON D.C
Summer 2005 Internship Program
A NATIONAL ORGANIZATION FOR RESEARCH AT THE UNIVERSITY OF CHICAGO
Winter-Spring 2005, Research assistant to Professor Lars P. Hansen on long-term risk in asset
pricing.
UNIVERSITY OF CHICAGO, DEPARTMENT OF ECONOMICS
Spring, Fall 2005, Spring, Summer 2007 Lecturer in Econometrics, College
Winter 2005 Teaching Assistant in Empirical Analysis II, Ph.D. Program
Winter 2004 Teaching Assistant in Econometrics, College
FELLOWSHIPS THE FRANCIS W. IMMASCHE FUND DISSERTATION FELLOWSHIP 2006-2007
THE SHERWIN ROSEN AWARD FELLOWSHIP 2005-2006
THE SHERWIN ROSEN AWARD FELLOWSHIP 2004-2005
LANGUAGES
REFERENCES
English (Fluent), French (Fluent), Arabic (Fluent), German
Professor Robert E. Lucas, Jr. (Chair), University of Chicago, Department of Economics
relucas@uchicago.edu 773-702-8191
Professor Casey B. Mulligan, University of Chicago, Department of Economics
c-mulligan@uchicago.edu 773-702-6576
Professor Thomas Chaney, University of Chicago, Department of Economics
tchaney@uchicago.edu 773-702-5403

SEUNG MO CHOI
1400 E. 55 th Pl., Apt 804S, Chicago, IL 60637 choism@uchicago.edu
Cellular: 773-517-8583 / Home: 773-288-6679
http://home.uchicago.edu/~choism
EDUCATION Ph.D. Economics University of Chicago June 2008 (expected)
M.A. Economics University of Chicago December 2003
B.A. Economics Seoul National University February 1999
FIELDS Primary: Macroeconomics, Growth and Development, International Trade
Secondary: Asset Pricing, Money and Banking
JOB MARKET
PAPER
WORKING
PAPERS
“Sources of Growth and Sources of Knowledge”
The unexplained residuals in growth accounting can be the result of an excess of social over private
returns on human capital. This paper proposes a way to measure these excess returns that arise from
learning externalities from peers and older generations. I calibrate a simple growth model, based on the
U.S. data, using a competitive equilibrium condition that equates private returns on physical capital and
human capital. Results suggest the following. (i) Learning externalities contribute as much as 35-50% of
human capital production, which is worth 10-20% of GDP in value. (ii) The social returns on human
capital are 15-30% higher than the private returns. (iii) Compared to an efficient allocation, the fraction of
time devoted to human capital production, at the current level, is about 33% lower, resulting in about 33%
lower rate of per-capita income growth. I also use this calibration framework to discuss the implications
on age-earnings profile, international differences in growth rates, and features of catch-up growth.
“An Assessment of Cross-Country Fiscal Consolidations,” joint with Bruno Carrasco, Asian Development
Bank (ADB) Economic Research Department Working Paper 79.
“Technology Adoption, R&D, and Productivity Growth”
“Learning by Exporting Machines?: The Impact of Machine and Non-Machine Trade on Growth”
“On the Tests on Factor Risk Premiums in Beta Estimation Methods”
TEACHING & Lecturer: University of Chicago
RESEARCH Elements of Economic Analysis IV (Macroeconomics II) Fall 2005, Fall 2006, Spring 2008 (scheduled)
EXPERIENCE Teaching Assistant: University of Chicago
Graduate: Econometrics III (Han Hong) Spring 2005
Undergraduate: International Trade (Samuel Kortum) Winter 2007
Elements of Economic Analysis III (Macroeconomics I, Robert Lucas) Winter 2006
Research Intern: Asian Development Bank Summer 2004
Research Assistant: Han Hong, University of Chicago, 2005; Korea Fixed Income Research Institute,
2002; Changyong Rhee, Seoul National University, 2001-02
FELLOWSHIPS Esther and T.W. Schultz Dissertation Fellowship, University of Chicago 2007-08
AND AWARDS Martin and Margaret Lee Prize, University of Chicago, 2004
for the best performance in Money and Banking Preliminary Examination
Doctoral Study Abroad Scholarship, Korea Foundation for Advanced Studies 2002-07
Undergraduate College Student Scholarship, Korea Foundation for Advanced Studies 1997-99
CONFERENCE Econometric Society North American Summer Meeting (Minneapolis, MN, USA) 2006
PRESENTATIONS Royal Economic Society Annual Conference (Nottingham, UK) 2006
Southwestern Economics Association Annual Meeting (New Orleans, LA, USA) 2005
SEMINAR University of Chicago Capital Theory Working Group 2006-07
PRESENTATIONS University of Chicago Asset Pricing Faculty Brownbag 2005
Asian Development Bank Seminar 2004
OTHER
EXPERIENCE
Military Service, South Korea, 1999-2001; Webmaster and Server Administrator, School of Economics,
Seoul National University, 2001-02
REFERENCES Robert E. Lucas, Jr. (Chair) University of Chicago 773-702-8191 relucas@uchicago.edu
Nancy L. Stokey University of Chicago 773-702-8250 n-stokey@uchicago.edu
Samuel S. Kortum University of Chicago 773-702-8250 kortum@uchicago.edu
Grace Tsiang (Teaching) University of Chicago 773-834-6672 gtsiang@uchicago.edu

B ABUR I. D E L OS S ANTOS
5416 S. Ridgewood Ct., Apt 2W babur@uchicago.edu
Chicago, IL 60615
http://home.uchicago.edu/~babur
Home/Fax: (773) 684-8956 Mobile: (312) 316-2369
EDUCATION PhD Economics University of Chicago Expected, June 2008
MA Economics University of Chicago March 2003
MA Economics El Colegio de Mexico July 2003
BA Economics Monterrey Institute of Technology and Advanced Studies (ITESM), Mexico June 1997
FIELDS
DISSERTATION
OTHER PAPERS
Industrial Organization, Labor Economics, Applied Microeconomics, Public Finance
Consumer Search on the Internet
This paper studies an equilibrium search model using information on consumer search. The model is based on consumers with
heterogeneous search cost and multiproduct firms that offer the same lines of homogenous products. The model is tested on a unique
panel of consumer online browsing behavior and transaction data. Using observed search intensities I estimate search cost
distributions derived from consumer search data alone. In contrast with models that assume the fraction of loyal consumers as
exogenous, consumers’ search process determines loyalty to a firm, measured as the probability of being sampled by the consumer.
In this case, loyalty can be considered as determined on a first stage and independent of firm pricing decisions taken on a second
stage, similar to the setting of Baye and Morgan (2005) where firms engage in brand advertisement to induce consumer loyalty on a
first stage. I examine the optimality of firm-level mixed strategy condition when customer loyalty is determined by the consumer
search behavior. Consumer search in the online book industry is limited: in only 25 percent of the transactions did consumers visit
more than one bookstore. The industry shows strong loyalty that is reflected in consumers’ preferential searching of some retailers.
Accounting for the asymmetry of sampling halves the search cost estimates found by previous research from $1.8 to $0.9 per search.
Explaining the Racial Gap in Achievement Test Scores. Working paper (with James Heckman and Maria Larenas)
Prevalence of Prison GED Recipiency and Implications for Labor Market Outcomes and Recidivism. Working paper (with James Heckman)
WORK Federal Competition Commission, Directorate of Economic Studies. Deputy Director, Mexico City, Mexico 1999–2001
EXPERIENCE Performed antitrust policy analysis. Studied competition conditions in the telecommunications, financial, and manufacturing sectors.
Advised on the economic effects of mergers and acquisitions cases, and conducted economic analyses of monopolistic practices
investigated by the Commission. Lecturer for the advocacy program on the economic criteria used to define relevant markets and
assess market power.
Ministry of Commerce and Industrial Promotion, Economic Deregulation Unit. Advisor, Mexico City, Mexico 1997–1999
Performed economic analysis to implement regulatory reforms of the public administration, primarily focusing on tax policy,
business promotion, and financial market reform. Led an overhaul of the regulatory framework for the Ministry of Education and the
National Council for Science and Technology.
RESEARCH & Research Assistant for Professor Ali Hortaçsu University of Chicago Dept. of Economics 2003–2007
TEACHING Research Assistant for Professor James Heckman University of Chicago Dept. of Economics 2003–2005
EXPERIENCE Research Assistant for Professor Günter Hitsch University of Chicago Graduate School of Business 2003–2006
Univ. of Chicago, Dept. of Economics Introduction to Microeconomics TA Spring 2006
Topics in Development Economics TA Fall 2005
Elements of Economic Analysis III TA Spring 2004
Topics in Macroeconomics and Finance TA Spring 2003
Univ. of Chicago, Graduate School of Business Data Driven Marketing TA Spring 2006, Spring 2007
Univ. Anahuac, School of Business and Economics Advanced Microeconomics Lecturer Fall 2000, Spring 2001
Topics in Industrial Organization Lecturer Fall 2000
Industrial Organization Lecturer Spring 2000
ITESM Mexico City Campus, Dept. of Economics Principles of Microeconomics Lecturer Fall 1999
Referee:
Journal of Political Economy, International Journal of Industrial Organization
PRESENTATIONS Industrial Organization Lunch, University of Chicago October 2007
Early Childhood Conference, National Opinion Research Center, University of Chicago September 2004
Southwestern Economic Association 84th Annual Meeting, Corpus Christi, Texas March 2004
“Competition Authority Participation and Actions in Regulated Sectors: The Mexican Case.”
The Fifth Asia‐Pacific Economic Cooperation/Partners for Progress Course on Competition Policy, Bangkok, Thailand March 2001
“Competition Policy in Mexico” lecturer series of the advocacy program of the Federal Competition Commission in
Tepic, Nayarit; Torreon, Coahuila; Hermosillo, Sonora; and Mexico City. 2000‐2001
FELLOWSHIPS, Fulbright Grantee US Dept. of State and Mexico–US Commission 2001–2004
HONORS & Scholarship Award University of Chicago 2004–2005
AWARDS Scholarship for PhD, University of Chicago CONACYT, Mexico 2001–2005
Scholarship for MA, El Colegio de Mexico CONACYT, Mexico 1997–1999
Magna Cum Laude, BA in Economics ITESM Monterrey Campus 1997
Scholarship for academic excellence, BA ITESM Monterrey Campus 1993–1997
REFERENCES Ali Hortaçsu (Chair) Economics, University of Chicago (773) 702-8250 hortacsu@uchicago.edu
Günter Hitsch GSB, University of Chicago (773) 702-4437 ghitsch@gsb.uchicago.edu
Chad Syverson Economics, University of Chicago (773) 702-6576 syverson@uchicago.edu

5464 S. Harper Ave.
Chicago, IL 60615
773-947-9392
MARCO FIACCADORI
fiacca@uchicago.edu
http://marco.fiaccadori.googlepages.com
education
education Ph.D. Economics University of Chicago Expected June 2008
M.A. Economics University of Chicago December 2003
B.A. (Summa cum Laude) Economics Bocconi University April 2002
fields Primary: Economic Theory / Mathematical Economics, Contract Theory, Applied
Microeconomics / Price Theory
Secondary: Development, Industrial Organization / Theory of the Firm, Economics of Sport
job-market
paper
teaching
experience
research
experience
non-academic
experience
fellowships
& awards
Non-cooperative Analysis of Monotonic Solutions
I provide a two-person bargaining game that supports in SPE monotonic cooperative solutions.
This bargaining game allows either party to exclude the other from a negotiation and to
consume the residual surplus. I prove that any form of competition that puts this ability in the
hands of the person who values it the most gives rise to a monotonic solution. I also show that
the hold-up problem provides an interesting example of an economic environment in which the
strategic form that I present is appropriate. More generally, my analysis demonstrates the
insights that can be obtained by simultaneously approaching bargaining problems from both
non-cooperative and cooperative points of view: the Nash Program. It also shows the relevance
of cooperative values other than the Nash solution in bargaining situations.
University of Chicago, College
Instructor Intermediate Microeconomics Winter 2006, Winter 2007, Summer 2007
Teaching Assistant Intermediate Microeconomics Fall 2005
Victor Lima
Teaching Assistant Introductory Microeconomics Spring 2006, Fall 2007
Allen R. Sanderson
Teaching Assistant Introductory Game Theory Fall 2006, Fall 2007
Hugo F. Sonnenschein
Teaching Assistant Economics of Sport Spring 2007
Allen R. Sanderson
Research Assistant for Luigi Zingales, GSB Winter 2005
Research Assistant for Korok Ray, GSB Spring 2005-Spring 2007
Intern Assistant for the Office of Internal Affairs at the ECOSOC Council,
United Nations, NY Headquarters Summer 2001
University of Chicago Fellowship 2002-2006
Bocconi University Financial Gift 2001
presentations Workshop in Economic Theory, University of Chicago Spring 2006
Economic Theory Working Group, University of Chicago Spring 2007, Fall 2007
references
Hugo F. Sonnenschein (Chair) University of Chicago 773-702-2417 hfsonnen@uchicago.edu
Roger B. Myerson
University of Chicago 773-702-6576 myerson@uchicago.edu
Philip J. Reny University of Chicago 773-702-2417 preny@uchicago.edu

JOSÉ L. FILLAT
5550 S. Dorchester Ave. #1409 jlfillat@uchicago.edu
Chicago, IL 60637
http://home.uchicago.edu/~jlfillat
773-575-4955
EDUCATION Ph.D. in Economics, The University of Chicago. Sept 2002 – (Jun 2008)
M.A. in Economics, The University of Chicago. Sept 2002 – Jun 2003
M.Sc. in Economics, with Honors, Universitat Pompeu Fabra, Spain. Sept 2000 – Jun 2001
B.Sc. in Economics, Universitat Pompeu Fabra, Spain. Sept 1996 – Jun 2000
RESEARCH FIELDS
Finance, Asset Pricing, Fixed Income. Macroeconomics, Economic Dynamics.
JOB MARKET PAPER “Housing as a Measure for the Long-Run Risk”, The University of Chicago, 2006
I evaluate the asset pricing effects of risk in long-run consumption growth. Current asset values are affected by the
risk-return tradeoff in the long-run. A recursive utility framework allows to price the long-run risk exposure and
separate inter-temporal elasticity of substitution from risk aversion. I consider housing in the model, as it is a
particularly sensitive asset to long-run risk-return trade off. I use a non-separable utility function with two goods, nonhousing
consumption and housing services, which creates a intra-temporal composition risk, besides the traditional
consumption growth risk. The composition risk has effects in the valuation of cash flow growth fluctuations far into
the future. I provide a closed form solution for the valuation function despite the non-separability. This allows me to
quantify the price of risk in the long-run with inputs from vector autoregressions. I find that the presence of housing
increases the price of the long-run risk. The model also delivers time variation in the prices of risk: low earnings and
low housing stock growth predicts low future consumption growth, and low future consumption of housing services,
thus prices of risk are higher. Finally, I evaluate the different exposure to long-run risk of a cross section of portfolios
of securities, the Fama-French benchmark portfolios sorted in book-to-market and size, and housing.
OTHER PAPERS ⋅ “Long-Horizon Dynamic Asset Allocation in the Presence of Housing”, with F. Vázquez-Grande, 2007.
⋅ “GMM Estimation of an Asset Pricing Model with Habit Persistence”, with H. Garduño, 2005.
⋅ “Habits meet Limited Participation”, advisor: John Cochrane, 2004.
⋅ “Beyond Habits: An Empirical Investigation”, with H. Garduño, 2004.
ACADEMIC AWARDS ⋅ Margaret G. Reid Memorial Fund Dissertation Fellowship, The University of Chicago. 2006-2007
⋅ Prize for the best paper of the XIII Finance Forum at the Bank of Spain, “GMM
Estimation of an Asset Pricing Model with Habit Persistence”, with Hugo Garduño. Nov 2005
⋅ Division of Social Sciences Financial Aid Award, The University of Chicago. 2004 – 2006
⋅ Scholarship for Post-Graduate Studies, Fundación Rafael del Pino, Spain. 2002 – 2006
⋅ Universitat Pompeu Fabra Fellowship for M.Sc. in Economics, Spain. 2000 – 2002
PRESENTATIONS ⋅ Midwest Economics Association Annual Meeting, Minneapolis, Mach 2007
⋅ Thesis Proposal at The University of Chicago, “Housing as a measure for the long-run risk”, Chair of
the Committee, Lars P. Hansen, May 2006.
⋅ Economic Dynamics workshop at the University of Chicago, Apr 2006.
⋅ Finance Seminar at Universitat Pompeu Fabra, Barcelona, Spain, Dec 2005.
⋅ Conference “XIII Finance Forum” organized by the Bank of Spain, Madrid, Spain, Nov 2005.
⋅ Latin American association of Law and Economics in University of California at Berkeley, Feb 2005.
AFFILIATIONS
SKILLS
TEACHING
Referee for the Journal of Political Economy. Member of the American Economic Association, American
Finance Association, Midwest Economics Association.
Programming: Matlab (advanced), Stata (advanced), Fortran (basic), LaTeX (advanced), HTML (basic).
English (fluent), Spanish (native), Catalan (native), Italian (reading level), German (basics).
Teaching Assistant, MBA Courses
Fixed Income Asset Pricing, with Pietro Veronesi, The University of Chicago, GSB. 2006 – 2007
Lecturer, Undergraduate Courses
Intermediate Macroeconomics, The University of Chicago. 2007 – 2008
Teaching Assistant, Undergraduate Courses
Intro. to Microeconomics, Macroeconomics, Fiscal Policy, The University of Chicago. 2002 – 2006
Econometrics, Game Theory, Probability, Int. Economics, Universitat Pompeu Fabra. 2000 – 2002
REFERENCES Lars P. Hansen (chair) 773-702-6576 lhansen@uchicago.edu
Monika Piazzesi 773-834-3199 piazzesi@uchicago.edu
Harald Uhlig 773-702-8191 huhlig@uchicago.edu

Hugo A. Garduno
Department Of Economics
University of Chicago
1649 East 50th Street Apt. 16F, Chicago IL, 60615. Phone (773) 610-0986. Email: hgarduno@uchicago.edu
EDUCATION
Ph. D. Economics, Department of Economics, University of Chicago, June 2008 (expected)
Fields: Asset Pricing, Macroeconomics, Applied Econometrics, Financial Engineering
M.A. Economics, Department of Economics, University of Chicago, June 2004
M. S. Economic Theory, Instituto Tecnológico Autónomo de México (ITAM), Mexico, August 2003
B. A. Economics, Instituto Tecnológico Autónomo de México (ITAM), Mexico, cum laude June 2002
JOB MARKET PAPER
“Intangible Capital and the Cross-Section of Stock Returns”.
Abstract: This paper explores the hypothesis that cross-sectional differences in stock returns are driven in part by differences in investment in two types
of capital: physical and intangible. I propose a production-based model to construct investment and stock returns and estimate the contribution of
intangible capital to these returns. The structural estimation is performed for several representative portfolios formed on characteristics such as the
book-to-market ratio, size, momentum, investment-to-capital, investment growth, and abnormal investment using GMM.
PUBLICATIONS AND WORKING PAPERS
“GMM Estimation of an Asset Pricing Model with Habit Persistence” (joint with José L. Fillat), University of Chicago 2005. (*)
“Habits in action: Empirical evidence of a Consumption-Based Model in asset Pricing,” University of Chicago 2004.
“Elementos Introductorios a la Teoría Económica del Crimen,” Chapter 1, in Andrés Roemer, Economía del Crimen, Mexico, 2001.
TEACHING EXPERIENCE
Teaching Assistant, Graduate School of Business, University of Chicago 2006-2008
Courses: Cases in Financial Risk Management (MBA), Mathematical Models of Option Pricing (MBA),
Investments, Macroeconomics (MBA), Financial Engineering, Topics in Asset Pricing (Ph.D.)
Lecturer, Department of Economics, University of Chicago 2006-2008
Courses: Macroeconomics (growth, fiscal policy, monetary policy and trade)
Teaching Assistant, Department of Economics, University of Chicago 2005-2008
Courses: Price Theory, Macroeconomics (growth, labor market, monetary policy), Finance,
Topics in Latin American Economies (growth, development)
Teaching Assistant, Instituto Tecnológico Autónomo de México (ITAM) 1998-2002
Courses: International Trade, Differential Equations, Macroeconomics,
Law and Economics, International Finance, Microeconomics.
AWARDS, FELLOWSHIPS, HONORS, GRANTS
Margaret G. Reid Memorial Fund Dissertation Fellowship, Department of Economics, University of Chicago, 2006-2007
Prize for the best paper (*) at the Foro de Finanzas, organized by the Bank of Spain and AEFIN. Madrid, November 2005
Graduate Studies Fellowship, Consejo Nacional de Ciencia y Tecnología (CONACYT), Mexico, 2002-2007
FULBRIGHT grantee, Comisión México-Estados Unidos para el Intercambio Educativo y Cultural, 2002-2005
WORK EXPERIENCE
Economist and policy analyst National Council for the Culture and the Arts, Mexico, 2000-2002
Consulting and policy analyst Center for Development and Strategy, Mexico City, Mexico, 1999-2000
Research assistant, ITAM, Mexico City, Mexico 1998-2002
PRESENTATIONS
French Finance Association (Dec. 2006), Econometric Society (Nov. 2006), LACEA (Nov. 2006), XII Foro de Finanzas - Bank of Spain (Nov. 2005)
University of Chicago (Oct. 2005, May 2006, Jul. 2007), University of California at Berkeley (Apr.2005)
PROFESSIONAL SERVICE
Member: American Finance Association, American Economics Association, Econometric Society, LACEA
Editor, Gaceta de Economía, ITAM, Mexico, 1999-2002
Secretary, Mexican Academy of Law and Economics (AMDE), Mexico 2000-2002
Member, Latin American and Caribbean Law and Economics Association (ALACDE) 2000-2003
REFERENCES
Lars Peter Hansen Department of Economics, University of Chicago, lhansen@uchicago.edu +1 773-702-6576
Fernando Alvarez Department of Economics, University of Chicago, falvare@uchicago.edu +1 773-702-8250
Monika Piazzesi Graduate School of Business, University of Chicago, piazzesi@uchicago.edu +1 612-204-5487

STEFANIA GARETTO
5550 S.Dorchester Ave. apt.1409 garettos@uchicago.edu
Chicago Illinois 60637
http://home.uchicago.edu/~garettos/
+1 773 9360277
EDUCATION Ph.D. in Economics University of Chicago (expected) June 2008
M.A. in Economics University of Chicago June 2004
Laurea Summa cum Laude in
Economics and Social
Sciences
Università Bocconi, Milan, Italy December 2001
RESEARCH FIELDS
JOB MARKET PAPER
WORKING PAPERS
International Trade, Macroeconomics, Economic Growth.
“Input Sourcing and Multinational Production”(2007)
I propose a new general equilibrium framework where firms decide the location of production, and whether
to outsource to unaffiliated suppliers or to integrate input production. Multinational corporations arise
endogenously when firms decide to integrate facilities in foreign countries. The novelty of this approach is
that the optimal sourcing strategy is achieved as a market equilibrium. The incentive to become
multinational arises due to technology heterogeneity and market structure. Technology heterogeneity makes
profitable to avoid outsourcing by allowing to match high domestic productivity with low foreign factor
costs. The imperfectly competitive market structure implies that - by integrating - firms are able to avoid the
mark-ups charged by the outside suppliers. Imperfect competition establishes a link between trade
liberalization and optimal pricing: suppliers find optimal to reduce their prices in response to the possibility
of integrated production on the side of their potential buyers (the “pro-competition effect” of
multinationals). The model is calibrated to match aggregate U.S. trade data, and used to quantify the gains
arising from multinational production. The computed gains are small (about 1% of consumption per capita)
but the model shows that further liberalization can increase them substantially.
“Multinational Production and Industry Reallocation”(work in progress)
“Firms’ Trade Options and Incomplete Pass-Through” (2007)
“Heterogeneous Barriers to Technology Adoption: How They May Arise and their Effects on
Growth” (2005)
PRESENTATIONS Federal Reserve Bank of Chicago, International Economics Seminar (2007)
Money and Banking Workshop, University of Chicago (2006, 2007)
Midwest Economics Association Annual Meeting, Minneapolis (2007)
Capital Theory Working Group, University of Chicago (2005-2007)
AWARDS Esther and T.W. Schultz Endowment Fund Dissertation Fellowship 2007-2008
F.W. Immasche Endowment Fund Dissertation Fellowship 2006-2007
University of Chicago Unendowed Fellowship 2002-2006
REFEREE
WORK EXPERIENCE
Journal of Political Economy, International Journal of Industrial Organization
Economic advisory and reporting for the Italian Mission at the
United Nations, UNCTAD, Geneva, Switzerland
2001
TEACHING
Lecturer, University of Chicago
Intermediate Microeconomics (undergraduate) 2006-2007
Teaching Assistant, University of Chicago
International Trade (T.Chaney, graduate) 2006
Macroeconomics (S.Davis, Executive MBA) 2005-2006
Macroeconomics (R.Lucas, C.Syverson, A.Sanderson, undergraduate) 2004-2007
Microeconomics (B.Szentes, A.Sanderson, undergraduate) 2004
REFERENCES Robert E. Lucas, Jr. (chair) 773-702-8191 relucas@uchicago.edu
Fernando Alvarez 773-702-4112 f-alvarez1@uchicago.edu
Christian Broda 773-834-1990 Christian.Broda@chicagogsb.edu
Thomas Chaney 773-702-5403 tchaney@uchicago.edu
Nancy Stokey 773-702-8250 n-stokey@uchicago.edu

Sheng Guo
1575 Oak Ave. Apt. 72 shengguo@uchicago.edu
Evanston, IL 60201
http://home.uchicago.edu/~shengguo
(224)392-7592
EDUCATION Ph.D. Economics University of Chicago (expected) June 2008
M.A. Economics University of Chicago June 2007
B.A. Economics Wuhan University June 1998
FIELDS Primary: Applied Econometrics, Macroeconomics
Secondary: Labor Economics, Financial Economics, Population Economics
JOB MARKET
PAPER
OTHER PAPERS
WORK IN
PROGRESS
“Switching Regression Estimates of Limited Financial Market Participation Models: An Application to
Intergenerational Economic Transmission in the United States”
In estimating limited financial market participation models where participation status is imperfectly measured,
misclassification error due to presence of measurement error and unobserved heterogeneity will cause attenuation
bias in estimates. I reinterpret the problem into a switching regression model with imperfect sample partitioning.
The approximate validity of this imperfect measure of true status is essential in model identification. The
framework is applied to PSID intergenerational sample to examine how imperfect capital market in
intergenerational human capital investment affects intergenerational consumption persistence and wage
persistence. I find that switching regression estimates on consumption differ remarkably from OLS estimates, are
more robust and fit data better. Economic interpretations of estimates reveal that about 15% families are
borrowing constrained, that constrained families demonstrate higher degree of consumption persistence than
unconstrained families, and that the magnitude of this gap is much larger than previous estimates. However, I do
not find material difference in wage persistence between these two types of families even by switching
regressions.
“Switching Regressions and Limited Market Participation Models: Identification, Estimation and
Applications”, February 2007
“A Semi-parametric Control Approach to Estimate Causal Effects of Environmental Factors on Life-Cycle
Health Outcome”, February 2007
“A Note on the Steady State of Intergenerational Human Capital Investment with Borrowing Constraints”,
July 2006
“Inheritance, Borrowing Constraints and Intergenerational Mobility: A Tale of Two Criteria”, February
2006
“Race and Roommate Choice: Changing Networks among University Students” joint with Tanya Menon
and Damon Philips, June 2005
“Rare Events, Culture and Equity Premium: A Cross-Country Investigation” joint with Robert Atra
“Switching Regression Estimates of Elasticity of Intertemporal Substitution: Stockholders versus Nonstockholders”
RESEARCH AND Research Assistant for: Center for Population Economics, 2003 – 2007; D. Gale Johnson, 2001 – 2003
TEACHING Teaching Assistant for: Population and the Economy/ A Guide to Business Ethics/ Economics and
EXPERIENCE Demographics of Marketing, Robert Fogel, Chicago GSB, 2004 – 2007; Public Policy Analysis, Jim Leitzel,
University of Chicago College, 2004; Operations Management, Dan Adelman, Chicago GSB, 2003
INVITED
CONFERENCES
GSOEP and CNEF Data User Conference, Cornell University, Ithaca, NY, September 2007
The 14 th International Conference on Panel Data, Xiamen University, China, July 2007
Far Eastern Meeting of Econometric Society, Institute of Economics, Academia Sinica, Taipei, July 2007
RAND Summer Institute on Demography, Epidemiology and Economics of Aging, July 2005
FELLOWSHIPS Chicago Center of Excellence in Health Promotion Economics Dissertation Fellowship, 2005 – 2007
University of Chicago Unendowed Scholarship, 2001 – 2005
SKILLS
Stata, C++, Matlab, LaTex
REFERENCES Casey Mulligan (Chair) 773-702-6576 c-mulligan@uchicago.edu
Robert Fogel 773-702-7709 rwf@cpe.uchicago.edu
Susanne Schennach 773-702-8199 smschenn@midway.uchicago.edu

Amee Kamdar
Contact
Information
Research
Interests
Education
The University of Chicago
Graduate School of Business Phone: (773) 354-0220
Ph.D. Program Office
Fax: (773) 702-5257 (Ph.D. Program Office)
5807 South Woodlawn Avenue E-mail: akamdar@ChicagoGSB.edu
Chicago, IL 60637 USA
Web: http://home.uchicago.edu/~akamdar
Applied Microeconomics / Price Theory, Health Economics, Labor Economics, Law and Economics,
Industrial Organization
The University of Chicago Graduate School of Business
Ph.D Program in Economics and MBA, 2003 – present
The Wharton School, University of Pennsylvania
B.S. Magna Cum Laude in Economics, 2000 – 2003
Job Market
Paper
Research
and
Teaching
Experience
Fellowships
and Awards
Professional
Activities
“Male Incarceration and Teen Fertility”
This paper argues that the increase in young male incarceration rates played a significant role in the decline
in teen birthrates during the 1990s. Using 1980, 1990, and 2000 Census microdata, I show that a one
standard deviation increase in white (black) young male incarceration rates was associated with a 0.67
(1.31) percentage point decline in the fertility of white (black) female teens in the lowest income quintile.
Incarcerating one additional young white (black) male is associated with 0.24 (0.10) fewer teen births. Teen
fertility is negatively related only to the incarceration rates of males empirically likely to father the babies
of teen mothers, such as 20 year-old males or males of the same race. Instrumenting for incarceration with
court orders on jail overcrowding magnifies the estimates considerably, suggesting that the OLS estimates
may understate the true causal impact of incarceration on teen fertility. This paper contributes to literatures
on incarceration, teenage childbearing, and mating markets. My paper identifies an externality of increasing
incarceration on the fertility of teenage women in low-income communities. Given the large public and
private costs associated with teenage childbearing, it is important to recognize the role of incarceration in
explaining variation in teen birthrates. As it relates to mating markets, my results suggest that models of sex
ratios and bargaining power need to allow for heterogeneity in the types of male sexual partners.
The University of Chicago Graduate School of Business
Teaching Assistant in the MBA Program:
• Professor Wouter Dessein (Competitive Strategy) Fall 2005
• Professor Jonathan Guryan (Microeconomics) Fall 2004
The Wharton School, University of Pennsylvania
Research Assistant for Professor Raffi Amit June 2002 – June 2003
Oscar Mayer Fellowship, 2007-2008
University of Chicago Graduate School of Business Doctoral Fellowship, 2003-2007
University of Chicago Graduate School of Business Summer Research Fellowship, 2004
Beverly Kushinsky Virany Memorial Award, The Wharton School, 2003
National Merit Scholar, 2000
Referee: Journal of Political Economy
Membership: American Economic Association
Attendee: NBER Summer Institute Labor Studies Workshop, 2007
References Steven Levitt (chair) Professor, Department of Economics slevitt@uchicago.edu (773) 702-6576
Gary Becker Professor, Department of Economics gbecker@uchicago.edu (773) 702-8168
Marianne Bertrand Professor, Graduate School of Business mbertran@chicagogsb.edu (773) 834-5943
Jonathan Guryan Professor, Graduate School of Business jguryan@chicagogsb.edu (773) 834-5967

TODD D. KENDALL
Department of Economics, Clemson University, 222 Sirrine Hall, Clemson, SC 29634-1309
Phone: (864) 643-9050, E-mail: todd@toddkendall.net, Web: http://www.toddkendall.net/
CURRENT Assistant Professor of Economics, Clemson University (since 2003)
EMPLOYMENT
SPECIALIZATION
Applied Microeconomics, Labor, Industrial Organization, Law and Economics
EDUCATION Ph.D., Economics, University of Chicago 2003
M.A., Economics, University of Chicago 2000
B.S., Mathematics, University of Chicago 1998
PUBLICATIONS
WORKING
PAPERS
“Ability and Specialization among Economic Researchers,” Managerial and Decision
Economics (forthcoming)
“Durable Good Celebrities,” Journal of Economic Behavior and Organization (forthcoming)
“Celebrity Misbehavior in the NBA,” Journal of Sports Economics (forthcoming)
“Spillovers, Complementarities, and Sorting in Labor Markets, with an Application to
Professional Sports,” Southern Economic Journal, October, 2003
“Technology, ‘Superstars,’ and ‘The Long Tail’” (with Kevin Tsui)
“The Effect of Search Costs on Divorce: Evidence from the Rise of the Internet”
“An Economic Analysis of Per Se Publicity Rights”
“Pornography, Rape, and the Internet”
“Strategic Political Commentary”
“Unmarried Fertility, Crime, and Social Stigma” (with Robert Tamura)
“An Empirical Analysis of Hollywood Politics”
“Degrees of Specialization among Workers of Differing Ability”
POPULAR “Why Not Just Ask the Dolphins?” The Economists’ Voice, 6/2007
WRITING “Ravenel and our Out-of-Kilter Drug Laws,” The State (Columbia, S.C.), 6/26/2007
“Does Fame Help in Court?” Legal Affairs, 5/2005
HONORS Honorary Lecturer, Wofford College, 2007
AND GRANTS Honorable Mention, Economic Communicators Contest (Assn. of Private Enterprise
Education), 2007
College of Business and Behavioral Science Faculty Seed Grant, Clemson Univ., 2006
University Research Grant, “Childhood Causes of Adult Crime,” Clemson Univ., 2005
John M. Olin Prize (for excellence in dissertation work), University of Chicago, 2001
Lynde and Harry Bradley Foundation Fellowship, 1998-2001.
Century Scholarship, 1998-2001.
Sigma Xi, 1998.
SELECTED PRESS “What made execs do what they did?” Atlanta Journal-Constitution, 3/7/2007
CITATIONS “Just why do our celebrities behave so boorishly?” Bloomberg News, 2/12/2007
The World Tonight with Rob Breakenridge, CHQR Calgary, 11/8/2006 [radio interview]
The Mark Elliot Show, CFRB Toronto, 11/5/2006 [radio interview]
“How the web prevents rape,” Slate.com, 10/30/2006
“Broadsheet,” Salon.com, 11/1/2006
“Even in June, the ice men cometh,” Christian Science Monitor, 6/9/2006
“True value in the fame economy,” Financial Times, 12/27/2005
TEACHING
RECENT
PRESENTATIONS
Doctoral: Game Theory, Microeconomics for Public Policy
Undergraduate/Masters: Intermediate Microeconomics, Game Theory, Urban Economics,
Principles of Microeconomics, Principles of Macroeconomics
K-12: BB&T Economics Summer Camp, Creative Writing
Conference on the Software and Internet Industries (Univ. of Toulouse), Stanford Law School,
NBER Summer Institute Law and Economics Meetings, Econometric Society Summer
Meetings, Wofford College, Clemson Women’s Studies Research Forum
REFERENCES Gary S. Becker gbecker@uchicago.edu (773) 702-8168
Robert Tamura rtamura@clemson.edu (864) 656-1242
Robert Tollison rtollis@clemson.edu (864) 656-0483

Albert Young-Il Kim
5220 S. Kenwood Ave #304 Chicago, IL
Tel: (773) 288-1867 / Mobile: (773) 822-3144
kimyia@uchicago.edu
__________________________________________________________________________________________________________________________________________
EDUCATION
University of Chicago, PhD candidate in Economics, expected June 2008
Area of Interest: Applied Microeconomics, Quantitative Analysis, Population Economics, Industrial Organization
Queen’s University in Kingston ON Canada, MAH in Economics, September 2002
Queen’s University in Kingston ON Canada, BA in Economics, June 2001
PHD DISSERTATION
“Impact of Birth Subsidies on Fertility: Empirical Study of Allowance for Newborn Children, a Pronatal Policy”
Using four household-level Canadian Census datasets, empirical analysis of a natural experiment, Allowance for Newborn
Children (ANC) of Quebec - cash benefit independent from any socioeconomic factors - reveals a significant effect of child
subsidy on increasing fertility. The implied increase in the probability of having at least one child due to the policy was
9.07%. The estimated increase in the number of childbirth due to the subsidy was 96,792. The amount of subsidy per birth
increment overall was estimated to be $19,298. However, a substantial part of it was due to the temporal adjustment of the
timing of birth. ANC mostly influenced households from the lowest income group (households with annual income less than
C$10,000); a result consistent with the findings that, in terms of a percentage of child rearing cost, benefit was higher for
lower income families. The implied probability increase of having at least one child for the lowest income group due to
ANC was approximately 30%.
AWARDS AND FELLOWSHIPS
University of Chicago Entrant Fellowship. 2002-06.
North American Korean Scholarship, June 2002.
Ontario Graduate Scholarship, June 2002.
Edith Whyte Memorial Scholarship in Economics, June 2001.
ANALYTICAL AND TEAMWORK EXPERIENCE
Procter & Gamble, Toronto ON, Canada, Summer Intern, 05/2000-08/2000
• Visited stores to record the in-stock rate of P&G product and recommended a suitable order sequence to raise the
district in-stock rate from 26 th place out of 26 districts to 8 th
• Successfully placed all three products that I was in charge of (Febreze Auto, Bounty Heavy Duty, and Bounty
Napkins) by conducting sales presentations to the buyers of the retailer (Zellers).
Kingston Health Lab, Kingston ON, Canada, Lab technician, 05/1998-08/1998
•Reviewed literature to design a new RNA detection method for a virus called ‘Norwalk’ and verified that the virus
caused the outbreak of diarrhea in Ontario in the summer of 1997
LEADERSHIP EXPERIENCE
Teaching Assistant, University of Chicago, 09/2006-12/2006
•Managed weekly tutorial sessions to enhance students’ understanding of the course in advanced macroeconomics
Teaching Assistant, Queen’s University, 09/2000 – 06/2002
•Was fully responsible for managing weekly office hours and tutorial sessions to assist students to develop an
understanding of the course materials in Advanced Game Theory, Empirical Quantitative Analysis
President, KSQ (Korean Society at Queen’s), 05/1998 – 04/1999
• Led active community involvement efforts resulting in recognition of the President of South Korea (Kim Dae Jung)
and was subsequently invited to the ceremony celebrating his official visit to Canada
SKILLS AND INTERESTS
Languages: Native fluency in English and Korean
Computing: Matlab, Stata, Microsoft Office (Word, Excel, and PowerPoint)
Interest: Traveling, Basketball, Soccer, Squash, Workout, Golf, Jogging
REFERENCES
Gary Becker (Chair), Professor, Department of Economics (773) 702-8168 gbecker@midway.uchicago.edu
John List, Professor, Department of Economics (773) 702-6576 jlist@uchicago.edu
Patrick Heuveline, Professor, Department of Sociology (310) 825-1313 pheuveli@uchicago.edu

5540 S. Woodlawn Ave. Brent House
Chicago, IL 60637
(773) 936-2129
YUKIO KORIYAMA
http://home.uchicago.edu/~yukio
yukio@uchicago.edu
Education Ph.D., Economics University of Chicago (USA) Expected June 2008
M.Sc., Mathematical Sciences University of Tokyo (Japan) 2002
MBA Collège des Ingénieurs (France) 2001
Diplôme d’Ingénieur Ecole Polytechnique (France) 2000
B.Sc., Mathematics University of Tokyo (Japan) 1998
Fields Primary: Game Theory, Political Economics, Public Economics
Secondary: Spatial Economics, Development Economics
Job Market
Paper
Other Papers
Teaching
Experience
Research
Experience
Fellowships
and Awards
Selected
Presentations
Referee
“A Resurrection of the Condorcet Jury Theorem” (Joint with Balázs Szentes)
Abstract: This paper analyzes the optimal size of a deliberating committee where, (i) there
is no conflict of interest among individuals, and (ii) information acquisition is costly. The
committee members simultaneously decide whether or not to acquire information, and then,
they make the ex-post efficient decision. The optimal committee size, k*, is shown to be
bounded. The main result of this paper is that any arbitrarily large committee aggregates the
decentralized information more efficiently than the committee of size k*−2. This result
implies that oversized committees generate only small inefficiencies.
“A Spatial Kuznets Analysis: Poverty and Inequality Mapping in Thailand” (Joint
with Robert M. Townsend)
“On Voluntary Participation in Public Good Provision” (In progress)
Teaching assistant, University of Chicago
“Price Theory II” (Roger Myerson, Philip Reny, graduate, 2006, 2007)
“Price Theory III” (Roger Myerson, Hugo Sonnenschein, graduate, 2006)
“Methods and Models in Spatial Economics” (John Felkner, undergrad, 2005, 2006)
“Topics in Development and Economic Growth” (John Felkner, undergrad, 2005)
Research assistant, University of Chicago
Robert Townsend (2004, 2005, 2007), Balázs Szentes (2005, 2007), Willie Fuchs (2006)
Henry Morgenthau Jr. Memorial Fund Dissertation Fellowship (Chicago) 2006
Japan-IMF Scholarship (IMF) 2003-2005
Nakajima Foundation Scholarship (Japan) 2002-2003
Heiwa Nakajima Foundation Scholarship (Japan) 1998-2000
Commended at Japan Mathematical Olympiad 1991
Hebrew University of Jerusalem
2005
“The 16 th Jerusalem School in Economic Theory”
University of Chicago, Economic Theory workshop 2005
Games and Economic Behavior, Journal of Political Economy
References Roger B. Myerson (chair) (773) 702-6576 myerson@uchicago.edu
Philip J. Reny (773) 702-2417 p-reny@uchicago.edu
Balázs Szentes (773) 702-8250 szentes@uchicago.edu
Robert M. Townsend (773) 702-7587 rtownsen@uchicago.edu

ANDREI KOVRIJNYKH
5107 S. Blackstone Ave., kovrijny@uchicago.edu
Apt. 1002
http://home.uchicago.edu/~kovrijny
Chicago, IL 60615 Cell: (312) 730-4596, Home: (773) 684-1869
EDUCATION Ph.D. Economics University of Chicago Expected June 2008
M.A. Economics CERGE-EI, Prague, Czech Republic 2001
B.A. Economics Novosibirsk State University, Russia 1998
FIELDS
JOB MARKET
PAPER
Primary: Labor Economics, Microeconomic Theory
Secondary: Growth, International Macroeconomics
"Career Uncertainty and Dynamic Incentives"
Career concerns are known to provide incentives even when performance-based
compensation is not feasible. However, empirical importance of career concerns may seem
dubious because in practice individuals can escape bad reputation by changing their
careers. I analyze the setup where careers can be changed and show that career uncertainty
does not necessarily weaken reputational incentives. The chance of changing the career
makes collection of reputational rewards less likely, and dampens incentives. However, I
show that the wage becomes more sensitive to the reputation: the market anticipates the
workers with good career matches to exert more effort. This effect countervails the direct
incentive-weakening effect of career uncertainty. In fact it may be so strong that the
expected marginal return on the reputation increases and the worker with less certain career
prospects exerts more effort as a result. I also show that the timing of information release
affects incentives: delaying the release of performance data weakens the incentives and can
help avoiding excessive effort supply early in the career.
OTHER PAPERS "Growth and Trade in a Model with Investment-Specific Technological Change,” June 2005
"Specialization under Uncertainty," May 2004, joint with Natalia Kovrijnykh
TEACHING Teaching Assistant, University of Chicago:
EXPERIENCE Introduction to Mathematical Methods in Economics (B. Szentes, graduate, 2004-2007),
International Comparative Organizations (C. Prendergast, graduate, 2007), Managing the
Workplace (C, Prendergast, graduate, 2007), Price Theory II – Game Theory, General
Equilibrium (H. Sonnenschein, P. Reny, graduate, 2005, 2006), Price Theory III –
Economics of Information (P. Reny, R. Myerson, graduate, 2005, 2006), Introduction to
Micro Theory (A. Sanderson, undergraduate, 2004-2006), Introduction to Macro Theory
(A. Sanderson, undergraduate, 2005), Intermediate Micro (P. Fevrier, undergraduate, 2003)
CERGE-EI: Public Economics, (A. Austin, graduate, 2000), Game Theory (K. Janda,
2000)
FELLOWSHIPS University of Chicago fellowship 2003-2007
AND AWARDS CERGE-EI performance stipend 2000
Novosibirsk State University performance stipend 1995-1998
OTHER
Research Assistant to L. Zingales (2006, Chicago GSB) and K. Ray (2005, Chicago GSB)
PROFESSIONAL Research Fellow, A Project on Network Economics, University of Kiel, Germany (2001)
EXPERIENCE Accounting Analyst, ZAO META, Russia (1997-1998)
REFEREE
Journal of Political Economy
REFERENCES Canice Prendergast (773) 702-9159 canice.prendergast@chicagogsb.edu
Balázs Szentes (773) 702-9127 szentes@uchicago.edu
Robert Shimer (773) 702-9015 shimer@uchicago.edu
Derek Neal (773) 702-8166 d-neal@uchicago.edu

NATALIA KOVRIJNYKH
5107 S. Blackstone Ave., nkovrijn@uchicago.edu
Apt. 1002
http://home.uchicago.edu/~nkovrijn
Chicago, IL 60615 Cell: (773) 344-8435, Home: (773) 684-1869
EDUCATION Ph.D. Economics University of Chicago Expected June 2008
M.A. Economics CERGE-EI, Prague, Czech Republic 2001
M.Sc. Applied Mathematics Novosibirsk State University, Russia 1998
& Computer Science
B.Sc. Mathematics Novosibirsk State University, Russia 1996
FIELDS
JOB MARKET
PAPER
PUBLICATION
Primary: Macroeconomics, Dynamic Contract Theory
Secondary: Game Theory, Computational Economics
"Debt Contracts with Short-Term Commitment"
This paper analyzes the role of short-term commitment by the lender and the borrower’s
outside option in a dynamic model of lending. I argue that short-term commitment
decreases social welfare compared to both the full and no-commitment cases considered by
most of the literature. Due to short-term commitment, the size of investment is positively
related to the borrower's liquidity. In addition, both underinvestment and overinvestment
can occur in equilibrium. I show that the social welfare is non-monotonic in the borrower's
outside option. If the borrower's outside option is interpreted as a measure of
competitiveness of the credit market, this implies that an increase in the strength of
competition has an ambiguous effect on welfare. Furthermore, I show numerically that as
the outside option of the borrower increases, the set of renegotiation-proof equilibria
converges to the Markov equilibrium, where the agents' strategies depend only on the
borrower's liquidity. That is, the welfare gain from using complicated history-dependent
strategies instead of simple Markov strategies is small when the borrower's outside option
is high.
"Equilibrium Default Cycles," 2007, joint with Balázs Szentes,
Journal of Political Economy, Vol. 115, No. 3 (June): pp. 403-446
WORKING PAPER "Specialization under Uncertainty," May 2004, joint with Andrei Kovrijnykh
TEACHING & Teaching Assistant
RESEARCH University of Chicago: Theory of Income II (C. Mulligan, graduate, 2004)
EXPERIENCE Elements of Economic Analysis IV (C. Mulligan, undergraduate, 2003)
Introduction to Game Theory (H. Sonnenschein, undergraduate, 2002, 2003)
CERGE-EI: Macroeconomic Theory II (R. Boháček, graduate, 2001)
Research Assistant to R. Lucas (Chicago, 2004), R. Boháček, (CERGE-EI, 2000-2001)
FELLOWSHIPS Henry Morgenthau Jr. Memorial Fund Dissertation Fellowship 2005-2007
AND AWARDS University of Chicago Century Fellowship 2001-2005
CERGE-EI performance stipend 1999-2001
Novosibirsk State University performance stipend 1992-1998
PRESENTATIONS
REFEREE
University of Chicago: Money & Banking Workshop (2007), Economic Theory Workshop
(2005), Capital Theory Working Group (2003, 2005), Economic Theory Working Group
(2007); Midwest Macroeconomics Meetings (2005)
Journal of Political Economy
EMPLOYMENT Programmer, Novosibirsk Institute of Programming Systems, Russia, 1996-1998
REFERENCES Robert E. Lucas, Jr. (773) 702-8191 relucas@uchicago.edu
Hugo Sonnenschein (773) 702-2417 hfsonnen@uchicago.edu
Balázs Szentes (773) 702-9127 szentes@uchicago.edu

BIN LI
1451 E. 55 th St., Apt. 622N, Chicago, IL 60615 Email: binli@uchicago.edu
Cell: +1(312)731-6141 Home: +1(773) 955-0548 http://home.uchicago.edu/~binli
EDUCATION
FIELDS
DISSERTATION
OTHER PAPERS
TEACHING
EXPERIENCE
RESEARCH
EXPERIENCE
FELLOWSHIPS
AND HONORS
SELECTED
PRESENTATIONS
REFEREE
REFERENCES
Ph.D. Economics University of Chicago Expected June, 2008
M.A. Economics University of Chicago 2003
B.A. (Summa Cum Laude) Economics Wuhan University, China 2000
B.S. (Summa Cum Laude) Mathematics Wuhan University, China 2000
Primary:
Secondary:
Macroeconomics and Monetary Economics, Time Series Econometrics
Finance, Computational Economics
“Evaluating Structural Vector Autoregression Models in Monetary Economies”
This paper uses Monte-Carlo simulations to evaluate alternative identification strategies in VAR
estimation of monetary models, and to assess the accuracy of measuring money instability as a cause of
the output fluctuations. I construct theoretical monetary economies using general equilibrium models
with cash-in-advance constraints, which also include technology shocks, labor supply shocks, and
monetary shocks. Particularly, two economies are characterized: one is fully identified and satisfies the
long-run restriction; another is not fully identified and the portion of temporary technology shocks is
mixed with demand shocks when applying the long-run restriction. Based on each theoretical model,
artificial economies are then generated through Monte Carlo simulations, which allow me to investigate
the reliability of structural VAR estimation under various identifying restrictions. Applying short-run,
medium-run, and long-run restrictions on the simulated data, I check for the bias between the average
VAR estimates and the true theoretical claim. The findings show that short-run and medium-run
restrictions tend to work more robustly under model uncertainty, particularly because the bias for
measuring the effects of monetary shocks using long-run restriction could increase substantially when
the underlying economy includes unidentified temporary shocks. This experiment supports the claim that
monetary shocks contribute no more than one third of the cyclical variance of post-war U.S. output, and
suggests that their contribution could in fact be substantially less.
“Deregulation and Unemployment: A Cross-market Channel,” University of Chicago, 2006
“Heterogeneous Beliefs and Asset Pricing,” University of Chicago, 2006
“Labor Market Institutions and Employment in OECD Countries,” (with Jianping Zhou), IMF, 2005
University of Chicago
Lecturer Intermediate Macroeconomics College Spring 2007
T.A. Advanced Econometrics (Prof. Tim Conley) PhD Winter 2005
T.A. Theory of Income III (Prof. Nancy Stokey) PhD Spring 2003
T.A. Theory of Income II (Prof. Casey Mulligan) PhD Winter 2003
T.A. Econometrics II (Prof. Tim Conley) PhD Winter 2004
T.A. Econometrics I (Prof. Susanne Schennach) PhD Fall 2005
T.A. Financial Economics, Money and Banking, MBA, GSB 2003 – 2005
International Economics, Real Estate Finance
Economist European Dept., International Monetary Fund Washington, D.C. Summer 2005
R.A. Prof. Randall Kroszner GSB, U of Chicago 2005–2006
R.A. Prof. Erik Hurst and Mark Aguiar GSB, U of Chicago 2004–2005
R.A. Prof. James Heckman Econ, U of Chicago 2002–2004
University of Chicago Fellowship, and Sprinkel Dissertation Grant, 2001 – 2007
NBER Ph.D. Research Travel Grants, National Bureau of Economic Research, Cambridge, 2004/2005
Lee Prize for the best performance in Macroeconomics core examination, University of Chicago, 2002
Wuhan University Distinguished Student Fellowship, Wuhan University, 1996 – 2000
Second Prize in China’s Olympic Mathematics Contest, China’s Mathematics Academy, 1996
Conferences:
UC Seminars:
Econometric Society Far Eastern Meetings (2006), Midwest Macroeconomics
Meetings (2006), Midwest International/Theory Meetings (2006).
Money and Banking Workshop, Capital Theory Working Group Seminar,
Finance Working Group Seminar.
Journal of Political Economy (3), Economics Bulletin
Robert E. Lucas Jr. (Chair) relucas@uchicago.edu (773) 702 – 8191
Casey Mulligan c-mulligan@uchicago.edu (773) 702 – 6576
Nancy Stokey nstokey@uchicago.edu (773) 702 – 8250
Harald Uhlig huhlig@uchicago.edu (773) 702 – 8191

BENJAMIN G. MATHEW
1323 E Madison Park #1
Chicago IL 60615
Home Phone: (773) 924-1936
bgm@uchicago.edu
http://home.uchicago.edu/~bgm
Cell Phone: (773) 263-6935
EDUCATION Ph.D. Economics University of Chicago Expected June 2008
A.B. Economics Dartmouth College June 1998
FIELDS
DISSERTATION
OTHER PAPERS
Corporate Finance, Industrial Organization, Labor Economics
Topics: Mergers, Theory of the Firm, Capital Structure, CEO Pay, Volatility
Sorting by Stock Performance Among Merging Firms
I show that there is positive sorting by past stock performance among merger partners: successful firms
merge with other successful firms. Showing that industry and time adjusted stock returns of merger partners
is positively correlated is not sufficient to establish this result. This is because the correlation could be driven
by unmeasured operational similarities between merger partners rather than by similarity of financial
performance per se. I propose a novel test for sorting based on market reactions to merger announcements. If
firms sort by performance, and performance is not perfectly observed, then merger announcements will
convey information to the market about the performance of firms. The market response to a firm announcing
a merger would be increasing in its proposed partner's performance (since that is an indication that the firm
itself is of high quality). And, holding constant the performance of the merger partner, the market response
would be declining in the firm's own past performance (since that is an indication that the firm was
previously overvalued). I find empirical support for this effect in the market response to merger
announcements. I show how sorting by financial performance, as well as a second pattern that successful
firms are more likely to engage in mergers and spinoffs, arises naturally in a model where reorganization
imposes nontrivial costs.
Volatility, Human Capital and CEO Pay. Working paper.
Why Don’t More Leveraged Firms Have More Volatile Stock? Working paper.
Communication Costs, Wage Contracts, and the Theory of the Firm. Working paper.
Why Do Public Enterprises and Protected Private Monopolies Have Inflated Costs? Working paper.
HONORS & Martin and Margaret Lee Prize for the best Price Theory core exam University of Chicago 2002
AWARDS Esther and T.W. Schultz Endowment Fund Dissertation Fellowship University of Chicago 2006-’07
John M. Olin Foundation Dissertation Fellowship University of Chicago 2005-’06
Sherwin Rosen Fellowship University of Chicago 2003-’05
Honors in Economics Dartmouth College 1998
M.J. and K.M. Remsen Scholarship Dartmouth College 1994-’98
EXPERIENCE
Teaching, University of Chicago:
Microeconomics College Lecturer Autumn 2004
Price Theory I Ph.D. Program TA for Professors Gary Becker and Kevin Murphy Autumn 2003
Price Theory III Ph.D. Program TA for Professor Pierre-Andre Chiappori Spring 2003
Price Theory II Ph.D. Program TA for Professors Philip Reny and Hugo Sonnenschein Winter 2003
Referee, Journal of Political Economy
Research Analyst Investor Responsibility Research Center Washington DC 2000
Research Analyst LECG Washington DC 1998-’99
REFERENCES Professor Casey Mulligan (Chair) (773) 702-9017 c-mulligan@uchicago.edu
Professor Gary Becker (773) 702-8168 gbecker@uchicago.edu
Professor Chad Syverson (773) 702-6576 syverson@uchicago.edu

Divya Mathur
1369 E. Hyde Park Blvd, Apt. 907 • Chicago, IL 60615
+1 (773) 396 6690 • divya@uchicago.edu
http://home.uchicago.edu/~divya
__________________________________________________________________________________________________
EDUCATION
University of Chicago, IL
Ph.D. Economics Expected June 2008
M.A. Economics August 2004
Mount Holyoke College, MA
A.B. Economics & Mathematics, summa cum laude May 2003
FIELDS OF INTEREST
Primary: Labor Economics, Development, Applied Microeconomics
Secondary: Population Economics, Health Economics, Industrial Organization
DISSERTATION
“What's Love Got To Do With It? Parental Involvement and Spouse Choice in Urban India”
‘Arranged’ marriages, characterized by strong parental control over spouse choice, are the norm in India, though
there is a transition towards autonomous ‘love’ marriages within the urban middle and upper classes. Using a novel
dataset constructed by surveying 6,030 parents and adult children in Mumbai, India, I examine selection into
arranged marriage and its effects on spouse choice. I consider the choice between an arranged and love marriage as
the outcome of bargaining between parents and children, where each agent may have different preferences for
spouse attributes. I find that stronger financial and kinship ties between parents and sons increase the likelihood of
an arranged marriage. Furthermore, when parents are involved in spouse selection, sons are much less likely to
marry college-educated women and women engaged in the labor force, after controlling for individual and family
characteristics. I show that these effects are driven in part by parental preferences and cannot be attributed entirely
to spurious correlation between arranged marriages and unobserved individual and family characteristics. These
results suggest that lowering the incentive for parental control in mate choice by developing infrastructure for care
of the elderly and improving social security may improve investments in women's human capital in India.
WORK IN PROGRESS
“Marriages Made Online: Evidence on Spouse Choice from an Indian Matrimonial Website”
“Does Demand for Old-Age Care Drive Son Preference in India?” (with Erez Yoeli)
ACADEMIC EXPERIENCE
Teaching Assistant, Graduate School of Business, University of Chicago
Competitive Strategy MBA Professor Luis Garicano Autumn 2006
Microeconomics MBA Professor Ram Shivakumar Spring 2006
Advanced Microeconomics MBA Professor Kevin Murphy Autumn 2005
Competitive Strategy MBA Professor Marianne Bertrand Spring 2005
Microeconomics MBA Professor Robert Topel Winter 2005
SELECT FELLOWSHIPS & AWARDS
Esther & T.W. Schultz Dissertation Fellowship, University of Chicago 2007-08
Glaeser Research Funds, University of Chicago 2005
Graduate Fellowship, University of Chicago 2003-07
Best Economics Honors Thesis, Mount Holyoke College 2003
Phi Beta Kappa Honors Society 2003
SKILLS
Languages: Hindi (native), English (fluent)
Computing: Stata, SPSS, Matlab
REFERENCES
Professor Ali Hortaçsu (Chair) hortacsu@uchicago.edu +1 (773) 702 5841
Professor Marianne Bertrand mbertran@chicagogsb.edu +1 (773) 834 5943
Professor Emily Oster eoster@uchicago.edu +1 (773) 702 3578
Professor Luis Garicano (Teaching) luis.garicano@chicagogsb.edu +44 (20) 7955 7284

Brian T. Melzer
Graduate School of Business
University of Chicago
5807 S. Woodlawn Ave.
Chicago, IL 60637
bmelzer@chicagogsb.edu
Phone: 773-517-6701
Fax: 773-702-5257
Education:
UNIVERSITY OF CHICAGO GRADUATE SCHOOL OF BUSINESS,
Ph.D. Candidate in Economics, September 2003-present
Coursework Fields of Specialization: Financial Economics, Industrial Organization
Advisors: Marianne Bertrand (co-chair), Toby Moskowitz (co-chair), Erik Hurst,
Amir Sufi, Luigi Zingales
ST. ANDREWS UNIVERSITY, M.Litt in Philosophy, September 2000
PRINCETON UNIVERSITY, A.B. in Philosophy, Summa Cum Laude, June 1999
Research Interests: Household finance, financial institutions, urban economics
Job Market Paper:
“The Real Costs of Credit Access: Evidence from the Payday Lending Market”
I estimate the real effects of access to payday loans among low-income households by isolating variation in loan
access that is uninfluenced by store location decisions and state regulatory decisions, two factors that might
otherwise correlate with economic hardship measures. I reject the hypothesis that loan access alleviates economic
hardship along a number of dimensions. Moreover, I find that loan access actually increases the likelihood of
difficulty paying mortgage, rent and utilities bills (15 percent increase), moving out of one’s home due to financial
difficulties (70 percent increase), and delaying needed medical and dental care (25 percent increases).
Academic Experience:
Research Assistant for Professors Austan Goolsbee and Chad Syverson (2005-2007),
and Professors Toby Moskowitz and Efraim Benmelech (2005)
Teaching Assistant in Investments (MBA), Professor Toby Moskowitz, 2005-2007,
and Macroeconomics (MBA), Professor Erik Hurst, 2005-2007
Achievements and Awards:
AHRQ Health Services Research Pre-Doctoral Fellowship, T-32 (2007-2008)
Sanford J. Grossman Fellowship in Honor of Arnold Zellner (2007-2008)
Chicago Center for Excellence in Health Promotion Economics Research Fellowship
(2006-2007)
University of Chicago Graduate School of Business Fellowship (2003-2007)
Member of Phi Beta Kappa Society
Activities: Varsity Golf Team, Princeton University, 1996-1999.

SERGEY MITYAKOV
Address: University of Chicago, Department of Economics, 1126 E.59 th street Chicago IL 60637 USA
Phone: 1-773-931-9808; E-mail: smityako@uchicago.edu; WWW: http://home.uchicago.edu/~smityako/
EDUCATION:
• University of Chicago PhD in Economics GPA 4.0 of 4.0 (expected) 06/2008
• New Economic School MA in Economics GPA 4.9 of 5.0 07/2002
• Voronezh State University MS in Mathematics GPA 5.0 of 5.0 06/2001
RESEARCH INTERESTS:
• Primary: Development/Growth, Macroeconomics, Financial Economics
• Secondary: Political Economy, Climate Change
JOB MARKET PAPER:
(available at http://home.uchicago.edu/~smityako/)
“Special Interests and Financial Liberalization: the Case of Mexico” (2007) Financial liberalization is often viewed
as an important tool for fostering economic growth. Yet many financial system reforms have had limited success and
some have been followed by severe economic crises. In this paper I construct a model with endogenous formation of
special interest groups that undermine a financial liberalization. In particular, they lobby to limit entry by other firms,
while taking advantage of improved borrowing opportunities. I then use the model to study the Mexican financial
liberalization of 1988. Analysis of firm-level panel data on manufacturing plants reveals patterns suggested by the
model. Specifically, large firms in more concentrated or “corrupt” sectors benefit more from liberalization. In addition,
domestically owned firms gain more than firms with foreign ownership. I also propose a new way to measure
“corruption” at the industry level based on the Mexican 10% profit sharing rule.
OTHER PAPERS:
• “Commercial vs Government Development Banks” (in progress: joint with R. Townsend and J. Assuncao)
• “Who Pays Taxes in Russia: Evidence from Micro-data” (in progress: joint with S. Braguinsky)
• “Small numbers Large Meaning: Sensitivity Analysis of Stern Review on Economics of Climate Change” (2007)
• “Human Capital External Effect and Taxation of Physical Capital” (2005)
• “Oligarchy, Democratization and the “Brain Drain”” (2002) NES Best Student Paper series
WORK EXPERIENCE:
• BP PLC (Consultant, Economics Team (ECM)) 12/2006-03/2007
• NATIONAL OPINION RESEARCH CENTER (Research Assistant (R.Townsend)) 07/2006-12/2006
• UNIVERSITY OF CHICAGO 01/2004-09/2006
Teaching Assistant: Economic Growth, Theory of Income III (N. Stokey), Price Theory I, II, III
(G. Becker, K.Murphy, P.Chiappori, P.Reny, H.Sonnenschein), Empirical Analysis II (L.Hansen)
• GRADUATE SCHOOL OF BUSINESS (UofC) (Research Assistant (K.Ray)) 09/2004-10/2005
• WORLDBANK (MOSCOW OFFICE) (Research Assistant) 08/2002-09/2002
• NEW ECONOMIC SCHOOL 09/2001-07/2002
Teaching Assistant: Development Economics, Contract Theory, Law&Economics, Money&Banking
PRESENTATIONS:
• “Applications of Economics Workshop” at the University of Chicago (03/2007)
• “Formal Economic Theory Working Group” at the University of Chicago (04/2007)
• “Capital Theory Working Group” at the University of Chicago (04/2004, 01/2006, 05/2006, 05/2007)
• “Theory and Development Working Group” at the University of Chicago (04/2006)
• “Industrial Organization Workshop” at SUNY Buffalo (09/2005)
AWARDS AND HONORS:
• Esther and T.W. Schultz Endowment Fund Dissertation Fellowship (2007-present)
• Henry Morgenthau Jr. Memorial Fund Dissertation Fellowship (2006-2007)
• PINE Foundation Grant (2002-present)
• Fellowship from the University of Chicago (2002-2006)
• Financial Economics Field Prelim Best Exam (2004)
• NES Best Student Paper and Don Patinkin prize (2002)
• First Prize for Research among students, Voronezh State University (2000)
REFERENCES:
• Nancy Stokey (chair) 773-702-0915 nstokey@uchicago.edu University of Chicago
• Gary Becker 773-702-8168 gbecker@uchicago.edu University of Chicago
• Robert Townsend 773-702-7587 rtownsen@uchicago.edu University of Chicago

ANAN PAWASUTIPAISIT
1155 East 60th Street #371A apawasut@uchicago.edu
Chicago, IL 60637
http://home.uchicago.edu/~apawasut Office: 773-256-6344
EDUCATION Ph.D. Economics University of Chicago 2005
M.A. Economics Thammasat University 1997
B.A. Economics Chiangmai University 1993
FIELDS Primary: Development, Applied Microeconomics
Secondary: Macroeconomics, Labor Economics
JOB MARKET
PAPER
WORKING
PAPERS:
Family Formation in Walrasian Markets
While marriage markets have traditionally been modeled as an assignment problem, this
paper frames the problem in the context of classical general equilibrium. Men and women
who vary in their preferences and endowments purchase contracts that determine whom
they will marry, the total endowment within the marriage, and the decision power of each
spouse. Agents prefer spouses with high valuation of household public good, but also high
total endowments and decision power. Therefore equilibrium matching can be either
negatively or positively assortative. The model is shown to map into a traditional
assignment model with the additional feature that it allows for nondegenerate lotteries in
marital status. Thus, in contrast to the classical assignment model, agents can get married
with probabilities, and identical agents can differ in their marital status even when marriage
is more productive, the sex ratio is 1, and the economy is frictionless. Several experiments
are computed where the equilibrium marital choices vary with the distribution of wealth.
1. Family Dissolution in Walrasian Markets
2. Collective Risk Sharing
3. Wealth Accumulation and Poverty Reduction: Case Studies and Factor Accounting for
Success (with Robert M. Townsend)
POSITIONS: NORC Postdoctoral Fellow 2005-present
Research Assistant to Robert Townsend 2001-2005
Field and Data Entry Supervisor, Thai Family Research Center 1996-1999
TEACHING
University of Thai Chamber of Commerce (Thailand):
Lecturer for Graduate Microeconomics 2007
FELLOWSHIPS Margaret G. Reid Memorial Fund Dissertation Fellowship 2003-2004
The University of Chicago Fellowship 2001-2003
Joint Japan/World Bank Scholarship 1999-2001
REFERENCES Pierre-André Chiappori 212-854-6369 pc2167@columbia.edu
Roger B. Myerson 773-834-9071 myerson@uchicago.edu
Robert M. Townsend (chair) 773-702-7587 rtownsen@uchicago.edu

HELENO MARTINS PIONER
5321 South Cornell Ave Apt 1R pioner@uchicago.edu
Chicago, Illinois, 60615
http://home.uchicago.edu/~pioner Cell phone: (312) 804-0703
EDUCATION
Ph.D.Economics
M.A. Economics
M.A. Economics
B.S. Mech. Engineering
The University of Chicago
The University of Chicago
Fundação Getúlio Vargas – RJ, Brazil
Instituto Tecnológico de Aeronáutica – SP, Brazil
Jun 2008 (Expected)
Jun 2004
Feb 2003
Dec 1999
FIELDS
Primary:
Secondary:
Econometrics, Industrial Organization.
Applied Microeconomics, Computational Economics.
DISSERTATION
Semiparametric Identification of Multidimensional Screening Models.
This paper considers the identification of a class of characteristics demand models. It shows how one can use the
information presented in the characteristics of the consumers, in the attributes of the goods being sold and in the theoretical
predictions of the model to recover preference and cost parameters. Moreover, it shows that using the information
presented in the bunching, the property of grouping people with different characteristics by offering the same good, one
may infer the distribution of unobservable attributes, such as quality.
BOOK CHAPTER
1. “Estimation of Synergies and Confidence Intervals for Merger Simulations” (joint with Mauricio C. Pinheiro – in portuguese) In:
Quantitative Methods Applied to Antitrust and Regulation, edited by Eduardo P. S. Fiuza and Ronaldo Seroa da Motta
(Instituto de Pesquisa Econômica Aplicada, IPEA), 155-252. Brasília: SDE (Ministry of Justice), 2006
2. “Vertical Integration and Market Power in Horizontal Mergers” (joint with Mauricio C. Pinheiro – in portuguese) In:
Quantitative Methods Applied to Antitrust and Regulation, edited by Eduardo P. S. Fiuza and Ronaldo Seroa da Motta
(Instituto de Pesquisa Econômica Aplicada, IPEA), 1-116. Brasília: SDE (Ministry of Justice), 2006
PRESENTATIONS
Econometrics Workshop (The University of Chicago) March 2007; North American Summer Meeting of The Econometric
Society, Duke University, June 2007; Conference on Mass Transportation Applied to Economics, Columbia University, June
2007; Fundação Getúlio Vargas, São Paulo, Brazil, August 2007; Universidade de São Paulo, São Paulo, Brazil, August 2007
TEACHING &
RESEARCH
EXPERIENCE
WORK
EXPERIENCE
FELLOWSHIPS
LANGUAGES
The University of Chicago - Graduate School of Business
Teaching Assistant for Prof. David Altig – Macroeconomics
Teaching Assistant for Prof. Ronen Israel – Investments
Teaching Assistant for Prof. Austan Goolsbee – Economics of Telecom
Teaching Assistant for Prof. David Marshall – Investments
Research Assistant for Prof. Austan Goolsbee
Research Assistant for Prof. Amil Petrin
Ministry of Justice and IPEA - Brazil
Consultant
Ministry of Finance – Brazil
Analyst
Hedging-Griffo Asset Management – Brazil
Analyst
The Margaret Reid Dissertation Fellowship
CAPES Doctoral Fellowship – Ministry of Education - Brazil
CAPES Masters Fellowship – Ministry of Education - Brazil
Fluent in English and Portuguese (native).
Fall 2007
Spring 2007
Winter 2006-07
Spring 2006
Spring-Fall 2006
Summer-Fall 2005
2004-2005
2002
1999-2000
2007-2008
2003-2007
2001-2003
REFERENCES
James J. Heckman (chair)
Rosa Matzkin
Jeremy Fox
Austan Goolsbee
(773) 702-3478
(310) 825-7371
(773) 702-7587
(773) 702-5869
jheckman@uchicago.edu
matzkin@econ.ucla.edu
fox@uchicago.edu
goolsbee@chicagogsb.edu

4800 S. Chicago Beach Dr. #1810S
Chicago, IL 60615
(847) 507-3409
JORA STIXRUD
stixrud@uchicago.edu
http://home.uchicago.edu/~stixrud
EDUCATION
FIELDS
JOB MARKET
PAPER
OTHER PAPERS
RESEARCH
EXPERIENCE
TEACHING
EXPERIENCE
HONORS
SELECTED
PRESENTATIONS
REFERENCES
Ph.D., Economics, University of Chicago, June 2008 (expected)
B.A., Economics, Northwestern University, Magna Cum Laude, June 2003
(additional majors in Mathematics and Mathematical Methods in the Social Sciences)
Primary: Applied Microeconomics, Labor Economics/Human Capital
Secondary: Applied Econometrics
U.S. Teacher Quality from 1960 until Today: A Supply and Demand Analysis
Abstract: This paper combines nine longitudinal data sets to analyze whether the cognitive
ability of female teachers has declined over the latter half of the 20th century. The cognitive
ability of women choosing to work as teachers (relative to women in their own cohort)
declined considerably from women born in the 1940s to those born in the early 1980s,
although this decline halted among women born in the 1960s and 1970s. This is true for
women working as teachers at multiple ages and for both means and distributions of ability.
However, due to a concurrent decrease in the average ability of female college graduates, the
decline in the ability of female teachers relative to all female college graduates in their own
cohort is much smaller over time. Changes in student enrollment, the student-teacher ratio and
the age-composition of current teachers drive changes in the demand for new teachers over
time. Coupled with changes in relative salaries of teachers, these demand-shifters have
important effects on which women choose to teach over time.
The Effects of Cognitive and Noncognitive Abilities on Labor Market Outcomes and Social
Behavior, (with J. Heckman and S. Urzua), Journal of Labor Economics, (July, 2006).
Optimal Incentive Contracts: The Case of Public School Teachers, Working Paper,
(October, 2007).
Research Assistant to Professor James Heckman, University of Chicago, 2004-2007
Research Assistant to Professor Christopher Taber, Northwestern University, 2002
Research Assistant to Professor Charles Manski, Northwestern University, 2001
Teaching Assistant, University of Chicago, 2005-2007
Empirical Labor Economics (Graduate), James Heckman, Winter 2007
Empirical Analysis I (Graduate), Susanne Schennach, Fall 2006
Empirical Analysis IIII (Graduate), James Heckman, Spring 2006
Econometrics A (Undergraduate), Samuel Schulhofer-Wohl, Spring 2005
Henry Morgenthau, Jr. Memorial Dissertation Fellowship, 2007-2008
University of Chicago Graduate Fellowship, 2003-2007
Phi Beta Kappa, Northwestern University, inducted 2003
Applied Economics Working Group, Dept. of Economics, University of Chicago, May 2006
The Chicago Workshop on Black-White Inequality, Chicago, IL, April 2006
Workshop in Public Policy and Economics, Harris School, University of Chicago, Sept. 2005
Institute for Research on Poverty Workshop, Madison, WI, June 2005
James Heckman (Chair) (773) 702-3478 jheckman@uchicago.edu
Wouter Dessein (773) 834-9066 wouter.dessein@chicagogsb.edu
Derek Neal (773) 702-6576 d-neal@uchicago.edu

1434 W. Warner Ave.
Apt. 1E
Chicago, IL 60613
mtomarel@uchicago.edu
http://home.uchicago.edu/~mtomarel
Cell: (240) 888-1202
Education Ph.D. Economics University of Chicago Expected June 2008
M.A. Economics University of Chicago December 2003
B.S. Mathematical Statistics University of Maryland May 2002
and Economics
Research & Primary: Industrial Organization, Applied Microeconomics
Teaching Fields Secondary: Human Capital & Labor Economics, Environmental Economics, Growth
Job Market
Paper
Only the Efficient Survive: An Analysis of Productivity, Prices, and Industry
Structure within the Municipal Solid Waste Industry
This paper uses a natural experiment in the municipal solid waste industry to empirically
measure changes in productivity and prices both at the market and firm level in response
to changes in industry structure. The 1993 Resource and Recovery Act Subtitle D
amendments mandated that all active municipal solid waste landfills make costly
technological improvements or exit. I assemble a unique dataset of Illinois landfills to
show that, on average, less productive firms chose to exit rather than make the necessary
technological improvements. Consistent with my model of heterogeneous producers and
imperfect product substitutability, after the regulation, both individual productivity and
prices increased over time among surviving firms as product substitutability decreased.
Furthermore, productivity and price dispersion across surviving firms decreased over time.
Based on my model, these results suggest that the regulation caused a shift in the
distribution of surplus from consumers to producers.
Teaching Lecturer, University of Chicago
Experience Intermediate Microeconomics I (Consumer Theory, undergraduate) 2008 (scheduled)
Intermediate Microeconomics II (Theory of the Firm, undergraduate) 2006
Lecturer, University of Chicago Graduate School of Business
Competitive Strategy (undergraduate/graduate) 2007
Teaching Assistant, University of Chicago
Introduction to Macroeconomics (A. Sanderson, undergraduate) 2005, 2007
Introduction to Microeconomics (A. Sanderson, undergraduate) 2004-2005
The Economics of Crime (S. Levitt, undergraduate) 2005
Teaching Assistant, University of Chicago Graduate School of Business
Managerial Accounting, (S. Keating, Executive MBA Program) 2007
Program and Teaching Assistant, University of Chicago
Contemporary U.S. Economic Problems and Public Policies (A. Sanderson, undergraduate),
Dauphine University, Paris, Economics Exchange Program 2004-2007
Economics Today (A. Sanderson, high school), Collegiate Scholars Program 2004-2005
Research Research Assistant for Derek Neal (Chicago) 2004-2005
Experience Research Assistant for Mike Gibbs (Chicago Graduate School of Business) 2005
Teaching Exceptional Service to the Executive MBA, University of Chicago Graduate School of
Awards Business, Chicago, London, and Singapore Campuses 2007
Fellowships University of Chicago Fellowship 2002-2006
Phi Kappa Phi Graduate Fellowship 2002
Professional Workshop on Teaching in the College, University of Chicago 2006
Development Individual Teaching Consultation (including video-taped assessment) 2006
Referee
Associations
Journal of Political Economy
Marie Tomarelli Petkus
American Economic Association, Phi Kappa Phi, Omicron Delta Kappa
References Chad Syverson (chair) (773) 702-6576 syverson@uchicago.edu
Steven Levitt (773) 702-6576 slevitt@uchicago.edu
Allen Sanderson (773) 834-6672 arsx@uchicago.edu
Scott Keating (617) 253-8947 skeating@mit.edu

1649 E. 50 th St. Apt. 17A
Chicago, IL, 60615
(773) 610-09-79
Oscar E. Vela
velatre@uchicago.edu
http://home.uchicago.edu/~velatre
EDUCATION
• Ph.D. Economics The University of Chicago Expected: June, 2008
• M.A. Economics The University of Chicago June, 2004
• B.A. Economics ITAM, México May, 2002
RESEARCH & TEACHING FIELDS
• Primary: Public Sector Economics, Public Finance, Applied Econometrics
• Secondary: Macroeconomics, Money and Banking
JOB MARKET PAPER
Social Values, Professional Reputation and Tax Evasion
Is there a reputation incentive that affects tax compliance behavior of workers across different professions? I use both
administrative data on compliance behavior and survey data at the occupational level and find evidence that individuals care about
potential costs of reputation that can affect their performance and compensation. I use a simple model that extends the standard
compliance theory and test empirically that on the top of the main elements that induce tax compliance (penalty rates and audits),
individuals comply with their taxes to avoid costs of reputation that could arise if they are considered dishonest. A fraction of tax
compliance behavior can then be analyzed as a purchase of Integrity by taxpayers. I compute that the average willingness to pay for
Integrity is of 1.44% of annual Adjusted Gross Income in the United States. The purchases vary across occupations depending on
the relative value that Integrity has on each profession. This insight helps to explain a fraction of both the level and heterogeneity of
observed tax compliance in the United States that is often not predicted by standard approaches to tax compliance and provides
useful guidelines to address tax compliance policy.
OTHER PAPERS
• “Fiscal Variables and the Term Structure of Interest Rates in México” Working Paper Banco de México (2005)
• “The Return to Pension Contributions in Mexico. Cohort Analysis 1890-1992. Mimeo. The University of Chicago (2005)
• “Trade integration and synchronization between the business cycles of Mexico and the United States”, North American Journal of
Economics and Finance, 14, no. 3 (December, 2003): 319-342. (with Alberto Torres)
PRESENTATIONS:
Annual Meeting of the Midwest Economic Association, Minneapolis (2007). The University of Chicago: Working Group of Capital
Theory (March 2006)
RESEARCH EXPERIENCE
Mexico Central Bank, Mexico City
• Research Fellow, Summer Internship Program July 2005
• Economist, Macroeconomic and Finance Division Nov. 1998- Aug 2002
• Research Assistant
Apr. 2004- Present
Casey Mulligan (Chicago, 2005-2007), Chad Syverson (Chicago, 2005-2006), Atif Mian (Chicago GSB 2004)
TEACHING EXPERIENCE
Lecturer, The University of Chicago, Department of Economics
• Introduction to Public Finance (Appointed) Spring, 2008
• Principles of Microeconomics Fall, 2005
ITAM (México City)
• Monetary Theory and Policy Summer, 2005
AWARDS
Fellowship, National Science and Technology Council (CONACYT).
Sep. 2002- Present
Fellowship, Mexico Central Bank (BANCO DE MEXICO) Sep. 2002- Jun 2004
Bachelor Thesis National Prize, Mexican Institute of Financial Executives (IMEF) Dec. 2002
REFERENCES
Professor Casey B. Mulligan (Chair) (773) 702-7815 c-mulligan@uchicago.edu
Professor Roger B. Myerson (773) 702-7815 myerson@uchicago.edu
Professor Austan Goolsbee (773) 702-5869 goolsbee@gsb.uchicago.edu

PEDRO C. VICENTE
Address: Department of Economics - University of Oxford
Manor Road Building, Manor Road, Oxford OX1 3UQ, UK
Phone: +44 (7807) 919101 (cell) +44 (1865) 284250 (office); Fax: +44 (1865) 281447
Email: pedro.vicente@economics.ox.ac.uk
Webpage: http://users.ox.ac.uk/~econ0192/
Citizenship: Portugal; Married, 1 daughter
ACADEMIC Post-Doctoral Research Fellow Department of Economics/Centre for the Study of African Economies 2005 to present
EMPLOYMENT
University of Oxford
EDUCATION Ph.D. in Economics University of Chicago (USA) 2005
M.A. in Economics University of Chicago (USA) 2002
M.Sc. in Economics London School of Economics (UK) 2000
Licenciatura in Economics (Magna cum Laude) Universidade Católica Portuguesa (Portugal) 1998
FIELDS OF Primary Field: Microeconomics of Institutions in Developing Countries;
INTEREST Broader Fields: Development Economics, Political Economy, Experimental Economics.
RESEARCH Publications:
A Theory of Corruption, Political Exclusion, and Windfalls, in M. Gradstein and K. Konrad (2007), Institutions and
Norms in Economic Development, MIT Press;
Working Papers:
(JOB MARKET PAPER) Is Vote Buying Effective? Evidence from a Field Experiment in West Africa, Oxford,
BREAD and CEPR WP, October 2007;
Abstract: Crude vote buying is a frequent practice during election time in many parts of the world, namely in Africa. But no
research has been done to quantify its effects on voters’ electoral behavior. To address this challenge, we designed and
conducted a randomized experiment during the presidential elections of July 2006 in Sao Tome and Principe. This is a newly
found oil-rich West African country that has been facing an increase in door-to-door vote buying. Our research design included
a randomized campaign against vote buying sponsored by the Electoral Commission of the country, and pre-electoral
campaign/post-election panel surveys in treatment and control locations, including 1034 subjects across 50 different areas. We
observe a significant effect of the campaign on perceptions of vote buying, which constitutes the exogenous variation we use to
identify effects on voting behavior. We characterize determinants of vote buying (more frequent in swing and rural locations),
and find that vote buying energizes the electorate by increasing turnout. Crucially, we capture real effects on candidates’
relative performance, by identifying the challenger to be driving more votes through vote buying.
Political Violence in Nigeria: Evidence from a Field Experiment, joint with P. Collier, Oxford WP, November 2007;
Corrupted Scholarships, Oxford WP, November 2007;
Brain Drain or Brain Gain? Micro-evidence from an African Success Story, joint with C. Batista and A. Lacuesta,
Oxford WP and IZA DP, August 2007;
Does Oil Corrupt? Evidence from a Natural Experiment in West Africa, Oxford WP, November 2006;
Legal Corruption, joint with D. Kaufmann, World Bank WP, July 2007;
FIELDWORK São Tomé and Príncipe (West Africa), March-May 2004; Cape Verde (West Africa), December-March 2006, São Tomé and
Príncipe (West Africa), June-August 2006; Nigeria (West Africa), December 2006-June 2007.
FELLOWSHIPS University of Chicago – Henry Morgenthau Jr. Memorial Fund Dissertation Fellowship (USA) 2004-2005
AND AWARDS University of Chicago – Department of Economics Fieldwork Grant (USA) 2003-2004
University of Chicago – Division of the Social Sciences Graduate Fellowship (USA) 2003-2004
Fundação Calouste Gulbenkian (Portugal) 2000-2001
Fundação para a Ciência e a Tecnologia (Portugal) 1999-2000; 2000-2004
British Council – British Chevening Scholarship (UK) 1999-2000
Socrates/Erasmus Scholarship (EU) for attendance of the University of Warwick (UK) 1997-1998
SELECTED 2008: ASSA/AEA.
PRESENTATIONS 2007: NEUDC, African Studies Assoc., BREAD/CEPR, Conference on Experimental Methods for Governance
(Harvard), APSA, EEA, Chicago, NYU, Stockholm School of Economics, Manchester, CSAE, Oxford.
2006: Cornell, Oxford, CSAE.
2005: Oxford, ISEG-Lisbon, EEA, Econometric Society World Congress, CESifo Summer Institute, Yale, Navarra,
Aarhus, UQAM, Chicago.
2003-2004: Chicago, Conference in Econometric Modelling for Africa, Nordic Conference in Development Economics.
TEACHING Lecturer at the University of Oxford – Department of Economics:
Economics of Government and institutions graduate (MSc Dev. Econ.; MPhil Economics) Hilary 2006, 2007
Microeconomic Theory graduate (MSc Development Economics) Michaelmas 2005
Teaching Assistant at the University of Chicago – Department of Economics:
Economics of Information (graduate), Theory of Auctions, Intermediate Microeconomics,
Introduction to Microeconomics , Decision Analysis (undergraduate) 2002-2005
Teaching Assistant at Universidade Católica Portuguesa – Department of Economics and Business (FCEE):
Microeconomics, Introduction to Economics, Money and Banking (undergraduate) 1998-1999
OTHER Consultant at the World Bank – World Bank Institute, Governance and Anti-Corruption 2004 to present
LANGUAGES Portuguese (native), English (fluent), French and Spanish (good)
REFERENCES Marianne Bertrand Univ. Chicago – GSB +1(773) 834-5943 mbertran@gsb.uchicago.edu
Paul Collier Univ. Oxford – Dep. Economics +44(1865) 291442 paul.collier@economics.ox.ac.uk
Marcel Fafchamps Univ. Oxford – Dep. Economics +44(1865) 291446 marcel.fafchamps@economics.ox.ac.uk
Casey Mulligan Univ. Chicago – Dep. Economics +1(773) 702-9017 c-mulligan@uchicago.edu
Roger Myerson Univ. Chicago – Dep. Economics +1(773) 834-9071 myerson@uchicago.edu

Hiroyuki Yamada
5531 South Woodlawn Ave. Apt 3E yamada@uchicago.edu
Chicago IL 60637
http://home.uchicago.edu/~yamada
Home Phone: (773)752-7063 Cell Phone: (312)608-7370
Education Ph.D. Economics University of Chicago Expected June 2008
M.A. Economics University of Chicago December 2003
M.A. Economics University of Tokyo March 2002
B.A. Economics Keio University March 1997
Fields Primary: Development Economics, Labor/Population Economics, Applied Econometrics
Secondary: Public Finance, Environmental Economics
Dissertation The Impact of the Introduction of Sectoral Minimum Wage on Low Wage Markets in a Low Income
Country: Evidence from South Africa
We explore the introduction of minimum wage in the agricultural and domestic work sectors in South
Africa to study how the structure of low-wage labor markets in a low-income country changes with the
policy. Even after the introduction of minimum wage, one finds extensive non-compliance; and most of
the workers continue to be vulnerable in the most vulnerable sectors of the economy. The
"composition" of non-compliance does not change significantly, but African women seem to have been
further disadvantaged after the introduction of minimum wage. Although a rise in employment is
observed both at the wage range above the minimum wage and in the adjacent sector without minimum
wage, the net employment effect is negative. Further, the simultaneous changes in intensive margins
show that a worker directly impacted by the introduction of minimum wage may experience a decrease
in important non-monetary compensation and also in working hours, in exchange for the increase in
wages, thus implying that investigating only monetary compensation (i.e. wage rate) in isolation may
overestimate the benefits of the introduction of minimum wage. Judging from the evidence collected,
we infer that this policy may not be very effective in poverty reduction as claimed by the South African
government and hope that the total earnings do not necessarily decrease.
Other Papers “Japan's ODA and Poverty Reduction: A Cross-Donor Comparison and a Case Study of Malaysia”
(with Y. Sawada), 2003, in Asian Development Experience Vol1: External Factors for Asian
Development. (eds. H. Kohama), Institute of Southeast Asian Studies, Singapore.
“Sharing Wage Risk” (with P.A. Chiappori and R. Townsend) Work in progress.
“Is Aid Allocation Consistent with Global Poverty Reduction? A Cross-Donor Comparison.” (with Y.
Sawada and T. Kurosaki), 2007.
“Causal Effects of Sex Preference on Sex-Blind and Sex-Selective Child Avoidance and Substitution
across Birth Years: Evidence from the Japanese Year of the Horse.” (with C. Rohlfs and A. Reed),
2007, under review.
“Decomposing the Racial Wage Gap Between Africans and Whites in South Africa After the Collapse
of Apartheid: The Decline of "White Premium”, 2007
“Absenteeism among Health Workers in Lao PDR: Is the Low Rate an Exception?” (with X. Luo and
Y. Sawada) 2007
“Why isn’t my salary paid on time? What should I do without what I am supposed to receive (although
insufficient)? : Salary delivery delay, insufficiency and their impact on teachers and health workers in
Lao PDR” (with X. Luo and Y. Sawada) 2007
“Is it bad luck to be born in the Year of Fire Horse in Japan?”, 2007, under review.
Research Research Assistant to Robert Townsend at University of Chicago, 2004-present
Experience Research Assistant to Yasuyuki Sawada at University of Tokyo, 2000-2002
Teaching Teaching Assistant, University of Chicgo
Experience Topics in Economic Development and Growth (2003, 2004), Environmental Economics (2005,
2006, 2007), Economics and Environmental Policy (2005, 2006, 2007), Economics for Public
Policy (2006, 2007), Elements of Economic Analysis (Microeconomics, 2005)
Presentations CSAE Conference, University of Oxford, March 2007.
Fellowships and
Honors
Work
Experience
Microeconomics Workshop, University of Tokyo, 2002
Immasche Fellowship, Department of Economics, University of Chicago, 2006-2007
University of Chicago Fellowship, 2004-2006
The Japan-IMF Scholarship Program for Advanced Studies, 2002-2004
Consultant for World Bank, July 2006 - June 2007.
Intern at International Monetary Fund (IMF), Summer 2005
Researcher at Japan International Cooperation Center October 1999 – March 2000.
Mathematics and Science Teacher at Kalumbwa Secondary School, Kalulushi Zambia, 1997-1999,
dispatched as a volunteer (Japan International Cooperation Volunteers)
References Casey B. Mulligan (Chair) 773-702-6576 c-mulligan@uchicago.edu
Robert M. Townsend 773-702-7587 rtownsen@uchicago.edu
Robert J. LaLonde 773-834-3440 r-lalonde@uchicago.edu

THE UNIVERSITY OF CHICAGO
Department of Economics
1126 E. 59 th Street
Chicago, Illinois
60637