Curriculum Vitae - Duke University

September 2014
CURRICULUM VITAE
EDWARD TOWER
ADDRESSES
Department of Economics
Duke University
Box 90097
Durham, NC 27708-0097
(919) 660-1818 or (919) 660-1800
HOME:
611 Polk Street
Raleigh, NC 27604
(919) 332-2264
E-MAIL: [email protected]
FAX: (919) 684-8974
CURRENTLY: Professor of Economics at Duke University
and during the summers of 2009 through 201 Visiting Professor of Economics at Chulalongkorn University, the oldest university
in Thailand..
TEACHING FIELDS (in order of preference with most preferred listed first):
At Duke, I am currently teaching international trade, computer modeling for policy analysis, and a special topics in
international and development economics. At Chulalonkorn University in Bangkok in the summers of 2009-2014, I
have taught international trade, advanced international trade with a computable general equilibrium modeling focus,
intermediate macroeconomics, economic development, and sports economics. At Nanyang Technological University
in August 2014 I taught computer modeling for policy analysis. I enjoy teaching in all of the areas below.
Computable General Equilibrium Modeling
Development Economics
Finance
International Trade and Finance
Macroeconomics
Microeconomics and Managerial Economics
RESEARCH AREAS (with most recent research listed first)
Computable General Equilibrium Modeling of trade policy
Evaluating Mutual Funds
Predicting Stock Market Rates of Return
Enhanced versus classic stock market indexing
Index investing versus active management
Portfolio composition
Political Economy of Protection
International Monetary Economics
Tariffs and Quotas
Protectionist Wars
Computable General Equilibrium Modeling of development and agricultural policy
bold denotes current research area.
EDUCATION:
Harvard College,
Brown University,
Harvard University,
1960-1964
1964-1965
1965-1970
B.A., 1964, Physics
Economics
M.A., 1967;
Ph.D., March 1971, Economics
Ph.D. Thesis: Financial Policy under Alternative Exchange Rate Systems. (Thesis completed and special examination passed
in June 1970). Abstracted in The Journal of Finance, June 1971, 805-6.
CURRENT AND PAST APPOINTMENTS
Teaching Fellow and Resident Tutor in Economics, Lowell House, Harvard University, 1966-1970.
Visiting Assistant Professor, Fletcher School of Law and Diplomacy at Tufts University, 1970-1971
Visiting Lecturer, Visiting Senior Lecturer, and Visiting Professor, University of Auckland 1971-1972, and various northern
summers thereafter
Assistant Professor, Associate Professor, and Visiting Professor, Simon Fraser University 1972-1974 and various summers
thereafter)
Associate Professor, Duke University, 1974-1977
Visiting Professor, Economics Institute, Boulder, Colorado, 1989
Visiting Professor, Nanjing University in program administered jointly with Johns Hopkins University 1991-1992
Visiting Professor, Helsinki School of Business and Economics, 1993
Visiting Professor, Chulalonkorn University, Bangkok, June and July of 2009 through 2014.
Visitor, Nanyang Technological University, August 2014. Singapore.
Advisor to the Tajik State University of Commerce, Dushanbe, Tajikistan under the auspices of the Open Society Foundation,
founded and funded by George Soros. A total of four trips in 2013-2015.
Professor, Duke University, 1977-present.
SHORT TERM TEACHING
Indonesian Treasury with the Harvard Institute for International Development, February through May 1992.
INTAN: the government training center in Kuala Lumpur, Malaysia, May and June 1994.
University of Zagreb, Fulbright Senior Specialist, May and June 2003.
Venice International University, Venice Italy, Spring 2004.
Nanyang Technological University. Singapore. July 2013, four lectures on economic issues.
Nanyang Technological University, August 2014, computer modeling for policy analysis.
OFFICES
Consultant to U.S. Treasury, 1972-1977.
Treasurer: Carolina Friends School, 1976-1979.
Member and Chair for one year: Advisory Screening Committee for Fulbright Fellowships in Economics for the Council for
International Exchange of Scholars, 1979-1982.
Vice President: Southern Economic Association, 1982-3.
President: Eno River Press, 1980-1995.
Consultant: World Bank, March 1982-1997.
Research Associate of Claremont Center for Economic Policy Studies, January 1983-present.
Consultant to Governor of the Bank of Sudan under the Auspices of the U.S. Agency for International Development, December
1983-August 1985.
Consultant to the Harvard Institute for International Development, December 1984-January 1985, in Indonesia.
Visiting Fellow in the Department of Economics, Research School of Pacific Studies, Australian National University, June-August
1986.
Consultant to USAID Malawi and the Government of Malawi, April and May 1987.
Member of Advisory Board: Centre for International Economics, Canberra,,1986-present.
Consultant to USAID Nairobi, March 1989.
Visiting Fellow at the Australian National University, January-August 1992 in the
Research School of Social Sciences.
Vice President of the International Economics and Finance Society, 1995.
BOOKS AND MONOGRAPHS
1.
The Theory of Optimum Currency Areas and Exchange-Rate Flexibility (by E. Tower and T. D. Willett), Special Paper in
International Economics, No. 11, Princeton University, May 1976, 98 pp.
2.
On Shadow Pricing, World Bank Staff Working Paper No. 792, January 1986, by E. Tower and G. Pursell, 131 pp.
3.
Economics Reading Lists and Course Outlines (a 15-volume set of reading lists by leading economists), compiled by E.
Tower, Durham, Eno River Press, July 1980, 2149 pp.
4.
Economics Reading Lists, Course Outlines, Exams, Puzzles and Problems (a 25-volume set of teaching materials from
leading scholars and universities), compiled by E. Tower, Durham, Eno River Press, October 1981, 5404 pp.
5.
Economics Reading Lists, Course Outlines, Exams, Puzzles and Problems, 2nd edition (a 25-volume set), compiled by E.
Tower, Durham, Eno River Press, August 1985, 5023 pp.
6.
Economics Reading Lists, Course Outlines, Exams, Puzzles and Problems, 3rd edition (a 25-volume set), compiled by E.
Tower, Durham, Eno River Press, August 1990, 6259 pp.
7.
Economics Reading Lists, Course Outlines, Exams, Puzzles and Problems, 4th Edition (a 25-volume set), compiled by E.
Tower, Chapel Hill, Eno River Press, September 1995, 6765 pages.
The volumes listed in 3, 4, 5, 6, and 7 have been purchased in 77 countries:
8.
Effective Protection, Domestic Resource Cost and Shadow Prices: A General Equilibrium Perspective, World Bank Staff
Working Paper No. 664, September 1984, 182 pp.
9.
Judging Economic Policy: Selected Writings of Gottfried Haberler, edited by Richard J. Sweeney, Edward Tower and
Thomas D. Willett, Boulder, Westview Press, 1997, 238pp.
10. The Collected Works of Cliff L. Lloyd, edited by Lawrence Boland, James Dean, Bertram Schoner and Edward
Tower, Simon Fraser University, 1980.
11. John Gilbert and E. Tower, Introduction to Numerical Simulation for Trade Theory and Policy. World Scientific. Completed
May 31, 2012. Published January 2013. This volume grew out of lecture notes I developed for a course at the University of
Auckland. They have been extended by John Gilbert for classes at Utah State University as well as by myself at Duke,
Chulalongkorn University, the University of Zagreb, the government training center in Malaysia, and the Economic Institute
in Boulder, Colorado. The book is aimed at the advanced undergraduate or the beginning graduate student. It takes the
student though a series of models which increase in complexity. It is accompanied by a set of downloadable models
available on the web. These models can be implemented in a demonstration version of GAMS that is downloadable free on
the web. See software listed below. 300pp. Here is the advertising blurb for the book.
http://www.worldscibooks.com/economics/8414.html.
Here is what Jagdish Bhagwati and Arvind Panagariya kindly wrote for the back cover.
“Ed Tower and John Gilbert have made a truly notable contribution in this volume to numerical methods of analyzing trade
issues. It is an invaluable supplement to the work of economists such as Robert Feenstra in this area. The authors must be
congratulated on an important contribution that will be of great value to students and scholars alike.”
Jagdish Bhagwati, University Professor of Economics and Law
Columbia University
“Trade economists have long taught 'Learning by Doing' models but John Gilbert and Edward Tower have now made 'Learning
Trade Theory by Doing' possible. It is a book that both the students of trade theory and practitioners of computable general
equilibrium models will find indispensable. The students will have fun learning the trade models which will then become
permanently imprinted in their memories. Practitioners of CGE models will understand better what goes on inside the black
boxes of their models. Only a collaboration between an eminent trade theorist (Tower) and an accomplished analyst of
numerical models (Gilbert) could have produced such a superb manual of learning trade theory and policy.”
Arvind Panagariya, Professor of Economics and International and Public Affairs
Columbia University
ARTICLES
1.
"The Economic Impact - Industrial and Regional - of an Arms Cut," Review of Economics and Statistics, August 1965, by
W. W. Leontief, A. Morgan, K. Polenske, D. Simpson, and E. Tower, 217-41.
2.
"The Short-Run Stability of the Foreign Exchange Market," Review of Economics and Statistics, May 1967, by J. L. Stein
and E. Tower, 173-85.
3.
"The Concept of Optimum Currency Areas and the Choice between Fixed and Flexible Exchange Rates." In: Fred
Bergsten, et al., Approaches to Greater Flexibility of Exchange Rates: The Burgenstock Papers, Princeton University
Press, 1970, by T. D. Willett and E. Tower, 407-15.
4.
"Currency Areas and Exchange-Rate Flexibility," Weltwirtschaftliches Archiv, September 1970, by T. D. Willett and E.
Tower, 48-65.
5.
"The Welfare Economics of International Adjustment," The Journal of Finance, May 1971, by T. D. Willett and E. Tower,
287-302.
6.
"More on the Welfare Cost of Inflationary Finance," Journal of Money, Credit and Banking, November 1971, 850-60.
7.
"Monetary and Fiscal Policy in a World of Capital Mobility: A Respecification," Review of Economic Studies, July 1972,
251-62.
8.
"Monetary and Fiscal Policy under Fixed and Flexible Exchange Rates in the Inter-Run," Journal of Money, Credit and
Banking, November 1972, 877-96.
9.
"More on Official Versus Market Financing of Payments Deficits and the Optimal Pricing of International Reserves," Kyklos,
fasc. 3, 1972, by E.Tower and T. D. Willett, 537-52.
10.
"The Short-Run Effects of Monetary and Fiscal Policy under Fixed and Flexible Exchange Rates," Economic Record,
September 1972, 411-23.
11.
"More on Internal and External Balance in an Almost Classical World," Western Economic Journal, June 1973, by J. W.
Dean and E. Tower, 232-37, and "Rejoinder," in the same issue, p. 240.
12.
"Commercial Policy under Fixed and Flexible Exchange Rates," Quarterly Journal of Economics, August 1973, 436-454.
13.
"More on the Neutrality of Forward Market Intervention," Weltwirtschaftliches Archiv, December 1973, by R. Ross and E.
Tower, 701-3.
14.
"Exchange Rate Flexibility and Macroeconomic Stability," Review of Economics and Statistics, May 1974, by E. Tower and
M. M. Courtney, 215-24.
15.
"Exchange-Rate Change and Foreign Portfolio Investment," Economia Internazionale, August-November 1974, 564-71.
16.
"On the Functional Relationship between Tariffs and Welfare," Journal of International Economics, May 1975, 189-99.
17.
"Nontraded Goods, Factor Market Distortions, and the Gains from Trade: Comment," American Economic Review, March
1975, by M. C. Kemp and E. Tower, 249-50.
18.
"The Optimum Quota and Retaliation," Review of Economic Studies, October 1975, 623-30.
19.
"The Maximum Revenue Tariff," Malayan Economic Review, October 1975, 33-37, (reprinted with fewer errors, April 1976),
104-11.
20.
"Money Demand and the Terms of Trade," Weltwirtschaftliches Archiv, December 1975, 623-33.
21.
"The Optimum Tariff, Retaliation and Autarky," Eastern Economic Journal, April 1976, 72-75.
22.
"The Estimation of the Cost of Adjustment to External Disequilibria: Comment," Review of Economics and Statistics,
August 1976, 382-83.
23.
"On the Shape of the Trade Indifference Curve: Rejoinder to Batra," American Economic Review, September 1976, by M.
C. Kemp and E. Tower, 709 (with errata, AER, March 1977, 255).
24.
"Revaluation Can Be Inflationary: An Analysis of Demand Shifts in a Policy Dilemma Model," by R. E. Shields, E. Tower
and T. D. Willett, in Peter B. Clark, et al., The Effects of Exchange-Rate Adjustments, Washington, D.C.: Government
Printing Office, 1977, 62-69.
25.
"Ranking the Optimum Tariff and the Maximum Revenue Tariff," Journal of International Economics, February 1977, 73-80.
26.
"Dynamic Stability and the Choice between Fixed and Flexible Exchange Rates," Economic Journal, March 1977, 81-95.
27.
"The Ranking of Alternative Tariff and Quota Policies in the Presence of Domestic Monopoly," Journal of International
Economics, November 1977, by R. J. Sweeney, E. Tower and T. D. Willett, 349-62.
28.
"Inelastic Offer Curves, Stability and the Difference between Tariffs and Quotas," Atlantic Economic Journal, December
1977, 64-7.
29.
"Alternative Optimum Tariff Strategies as Devices for Transferring Real Income," Southern Economic Journal, July 1978,
by E. Tower, A. Sheer, and H. G. Baas, 18-31.
30.
"The Optimum 'Incentive Schedule' Tariff," Canadian Journal of Economics, November 1978, 726-33.
31.
"The Effective Protection of Canadian Exporting Industry: Further Comment," The Quarterly Review of Economics and
Business, Winter 1978, 102-105; Erratum, Winter 1979.
32.
"Notes on the Dynamics of Optimum Tariff Policy," Revista Internazionale di Scienze Economiche e Commerciali, January
1979, 84-89.
33.
"On the Long and Short Run Relationship between the Forward Rate and the Interest Parity," Journal of Macroeconomics,
Winter 1979, by G. Pedersson and E. Tower, 65-77.
34.
"Profit Control in New Zealand," New Zealand Economic Papers, 1979, 1-23.
35.
"Comment on Jacob Dreyer's 'Countervailing Foreign Use of Monopoly Power'," in R. Amacher, G. Haberler and T. D.
Willett (eds.), Challenges to a Liberal International Economic Order, American Enterprise Institute, 1979, 369-77.
36.
"Effective Protection and Market Distortions: Comment," Review of Economic Studies, July 1979, by J. Dutton and E.
Tower, 561-63.
37.
"Economic Imperialism and Resource Nationalism: Comment on Kemp and Ohyama," Journal of International Economics,
August 1979, 423-27.
38.
"The Geometry of Community Indifference Curves,"Weltwirtschaftliches Archiv, Heft 4, 1979, 680-700.
39.
"Dynamic Adjustment in an IS-LM Framework," Eastern Economic Journal, January 1980, by P. Kennedy and E. Tower,
53-58.
40.
"Supplementary Comment (on Borcherding and Silverberg]," by John Stuart Mill, Journal of Political Economy, February
1980, suggested by W. H. Kaempfer and E. Tower, 208.
41.
"Effective Market Classification, The New Cambridge School of Economic Policy and the Choice between Fixed and
Flexible Exchange Rates," in John S. Chipman and Charles P. Kindleberger (eds.), Flexible Exchange Rates and the
Balance of Payments: Essays in Memory of Egon Sohmen, Amsterdam: North-Holland 1980, 231-56.
42.
"On Water in the Quota," Canadian Journal of Economics, May 1980, by A. L. Hillman, E. Tower, and G. Fishelson,
310-16.
43.
"U.S. Concessions in the Kennedy Round and Short Run Labor Adjustment Costs: Still Further Evidence," The Quarterly
Review of Economics and Business, Fall 1980, by D. L. Allen, L. Lewis and E. Tower, 107-10.
44.
"The Choice between a Tariff and a Quota: Comment [on Vastrup]," Weltwirtschaftliches Archiv, Heft 4, 1980, 580-81.
45.
"Buffer Stocks Are Better Stabilizers than Quotas," Journal of International Economics, February 1981, 113-116.
46.
"The Balance-of-Payments Approach to Trade Tax Symmetry Theorems," Weltwirtschaftliches Archiv, Heft 1, 1982, by W.
H. Kaempfer and E. Tower, 148-65.
47.
"Trade Policy and the American Income Distribution," Review of Economics and Statistics, May 1982, by J. C. Hartigan
and E. Tower, 261-70.
48.
"On the Lerner Symmetry Theorem under Monopoly: Comment [on Ray]," Quarterly Journal of Economics, August 1983,
by J. Eaton, G. Grossman, W. H. Kaempfer, and E. Tower, 529-37.
49.
"Making the Best Use of Trade Restrictions in the Presence of Foreign Market Power," Journal of International Economics,
November 1983, 456-73.
50.
"Some Empirical Results on Trade and National Prosperity: Comment on Kindleberger," Cato Journal, Winter 1983/84,
639-44.
51.
"International Trade and Protectionism: The Relevance of Modern Research," Contemporary Policy Issues, No. 4, Western
Economic Association, January 1984, by T. D. Willett, E. Tower and D. Christianson, 1-5.
52.
"On the Functional Relationship between Distortions and Welfare," Atlantic Economic Journal, March 1984, 65-66.
53.
"On a Quick and Dirty Approach to Estimating Second Best Optimum Tariffs," International Review of Economics and
Business, March 1984, 212-19.
54.
"Welfare Gain from a Stable Exchange Rate: Comment," Atlantic Economic Journal, July 1984, by D. H. Feldman and E.
Tower, 65.
55.
"Profitable Destabilizing Speculation as Intertemporal Price Discrimination," The American Economist, Fall 1984, by D. H.
Feldman and E. Tower, 60-63; Errata, Spring 1985, 84.
56.
"Adjustment Speeds under Tariffs and Quotas in a Monetary Model of Balance of Payments," Journal of International
Economics, May 1985, by B.C. Daniel, H. 0. Fried, and E. Tower, 373-80.
57.
"Further Analysis of the Effects of Offshore Assembly Provisions on the U.S. Tariff Structure," Journal of Economic Studies,
No. 4, 1985, by D.Appleyard, A. J. Field, and E. Tower, 62-65.
58.
"On Using a Single Tariff to Exploit Market Power on Many Traded Goods," Economia Internazionale, August-November
1985, by H. Fried and E. Tower, 318-22.
59.
"The Welfare Economics of an Unstable Real Exchange Rate," Southern Economic Journal, January 1986, by D. H.
Feldman and E. Tower, 607-16 (lead article).
60.
"Industrial Policy in Less Developed Countries," Contemporary Policy Issues, January 1986, Vol. 4, No. 1, 23-35.
61.
"Optimal Destabilizing Speculation or Why the Optimum Tariff May Oscillate," De Economist, October 1986, by D. Feldman
and E. Tower, 368-77.
62.
"The Leontief Question: A Cobb-Douglas Approach to Simulating the U.S. Income Distribution in Autarky,"
Weltwirtschaftliches Archiv, by J. C. Hartigan and E. Tower, Heft 4, 1986, pp. 19-44.
63.
"Differential Cash-in-Advance Constraints: A Good Reason for Protection in LDCS?," Eastern Africa Economic Review,
December 1986, by I. N. Gang and E. Tower, 193-95.
64.
"International Trade Regimes and Private Property Rights: Comment on Tumlir," Contemporary Policy Issues, Vol. 5, No.
2, April 1987, 13-15.
65.
"A General Equilibrium Cost-Benefit Approach to Policy Reform and Project Evaluation in Malaysia," by K. P. Gan and E.
Tower, Singapore Economic Review, April 1987, 46-61.
66.
"The Textile Bill of 1985: Determinants of Congressional Voting Patterns," Public Choice, by S. C. Toscini and E. Tower,
May 1987, 19-25.
67.
"Shadow Pricing in a Specific-Factors Model: Comment," Canadian Journal of Economics, by E. Tower, G. G. Pursell and
K. Han, May 1987, 399-402.
68.
"On Shadow Pricing Foreign Exchange, Non-Traded Goods and Labor in a Simple General Equilibrium Model," Oxford
Economic Papers, June 1987, by E. Tower and G. G. Pursell, 318-332.
69.
"DRC Criteria: Comment on Lucas," Journal of Development Economics, by G. G. Pursell and E. Tower, June 1987,
163-67.
70.
"Resolution: Ex Ante Versus Ex Post DRC's and the Possibility of Negative Shadow Prices," Journal of Development
Economics, by R. E. B. Lucas, G. G. Pursell and E. Tower, June 1987, 173-74.
71.
"Enforceability and the Resolution of International Jurisdictional Conflicts: Comments on Abbott, Atwood and Ordover," in
"Symposium on Conflicts of Jurisdiction: 'Extraterritoriality of Economic Legislation'," Pamela Gann (ed.), Law and
Contemporary Policy, Summer 1987, by E. Tower and T. D. Willett, 189-96.
72.
"Economic Liberalization in Less Developed Countries: Guidelines from the Empirical Evidence and Clarification of the
Theory," (by P. L. Brock and E. Tower), Chapter 2 of M. Connolly and C. Gonzalez-Vega (eds.), Economic Reform and
Stabilization in Latin America, Praeger, 1987 (proceedings of a conference held in March 1985 in Santo Domingo), pp.
19-44.
73.
"The Stahl-Alexeev Paradox: A Note," Journal of Economic Theory, by I. N. Gang and E. Tower, February 1988, 189-91.
74.
"On the Dispersion of Optimum Tariffs on Goods with Fixed World Prices," International Review of Economics and
Business, April-May 1988, 407-412.
75.
"Explaining the Yeh Paradox: A Comment," Eastern Economic Journal, April- June 1988, 189-92.
76.
"Trade and Industrial Policy under Oligopoly: Comment [on Eaton and Grossman]," Quarterly Journal of Economics, by
Wilfrid Csaplar and E. Tower, August 1988, 599-602.
77.
"A Model of the Effect of a Fertilizer Subsidy on Income Distribution and Efficiency in Malawi," Eastern Africa Economic
Review, December 1988, by E. Tower and R. E. Christiansen.
78.
"On Using Computable General Equilibrium Models to Facilitate Tax, Tariff and Other Policy Reforms in Less Developed
Countries," by E. Tower and T. Loo. Chapter 11 of Malcolm S. Gillis (ed.), Tax Reform in Less Developed Countries, Duke
University Press, 1989, 391-416.
79.
"Agricultural Protectionism and the Less Developed Countries: The Relationship Between Agricultural Prices, Debt
Servicing Capacities and the Need for Development Aid," by T. Loo and E. Tower, Chapter 2 of Andrew B. Stoeckel, David
Vincent and Sandy Cuthbertson, (eds.), Macroeconomic Consequences of Farm Support Policies, Duke University Press,
1989, 64-93. Summarized as “Protection Through a Wide-Angle Lens” constituting the “Economics Focus” section of The
Economist, June 4, 1988, p.59.
80.
"Performance-Contingent Protection," Economics and Politics, 1989, by W. H. Kaempfer, E. Tower, and T. D. Willett,
261-75.
81.
"Quota Wars and Tariff Wars," Oxford Economic Papers, October 1989, by B. Copeland, E. Tower and M. Webb, 774-88.
82.
"Excise Tax Evasion: Comment on Panagariya and Narayana." Public Finance, No. 3, 1989, 506-509.
83.
"Empirical Models of the Effects of U.S. Protectionism: A Survey of the Recent Literature," by Christian Weber with Edward
Tower, North American Review of Economics and Finance, Inaugural Issue, Vol. 1, No. 1, Spring 1990, 163-79.
84.
"Agricultural Liberalization, Welfare, Revenue and Nutrition in LDCS," by T.Loo and E. Tower. Chapter 11 of Ian Golden
and Odin Knudsen, (eds.), Agricultural Trade Liberalization: Implications for Developing Countries. Also published in
French, OECD/World Bank, 1990, 307-42.
85.
"Allocating Jobs under a Minimum Wage: Queues Versus Lotteries," Economic Record, June 1990, by I. N. Gang and E.
Tower, 186-194.
86.
"On Shadow Prices, Effective Protection, and Domestic Resource Cost." Chapter 30 of David Greenaway, Michael Bleaney
and Ian Steward (eds.), Companion to Economic Thought, Routledge, 1991, 614-33. Reprinted in A Guide to Modern
Economics, Routledge, 1996.
87.
"On the Symmetry between Effective Tariffs and Value Added Subsidies," in Victor Canto and J. Kimball Dietrich, (eds.),
Industrial Policy and International Trade, Volume 62 in Contemporary Studies in Economic and Financial Analysis, JAI
Press, 1992, 95-124.
88.
"On the Validity of the Lerner Neutrality and Symmetry Theorems in The Presence of Non-Traded Goods," by V. Canto, W.
H. Kaempfer and Tower, in the same volume (#87), 125-28.
89.
"On Domestic Resource Cost," Journal of International Economic Integration, Spring, 1992, 20-44.
90.
"Market Power and Buffer Stocks: Erratum," The Economic Record, March 1993, 107, by P. Simmons and E. Tower.
91.
"Do the U.S. and China Discriminate against One Another's Goods?" Asian Profile, April 1993, 101-112.
92.
“Separability - the One Principal and Serious Defect of Bickerdike's and Edgeworth's Elasticity Approach to Balance of
Payments Adjustment Problems?" History of Political Economy, Fall 1993, 493-97.
93.
"A Proper Trade Formula," International Herald Tribune, Letter to the Editor, May 19, 1994.
94.
"Temporary Duty Suspension in the United States," by Laura Pinsky and Edward Tower. North American Journal of
Economics and Finance, Spring 1995, 17-36. Referenced in an article in the Charlotte Observer by John Monk, October
1996, which referred to the campaign contributions garnered by Senator Jessie Helms presumably in return for sponsoring
Temporary Duty Suspension Bills in the Senate.
95.
"Intermediate Macroeconomics as a Lab Course," Macroeconomics Reading Lists, Eno River Press, 1995, 209-219.
96.
"Protection in Applied General Equilibrium Models: A Progression of Simple GAMS Programs to Illustrate Fundamental
Issues in Tariff Policy," in International Economics Reading Lists, Eno River Press, 1995, 276-277.
97.
"Current Issues in International and Development Economics," in Development I: Reading Lists, Eno River Press, 1995,
244-45.
98.
"Yucel on Reducing U.S. Vulnerability to Oil Supply Shocks: Comment," Southern Economic Journal, April 1996, 10931095.
99.
"Super 301 Trade Sanctions: An Empirical Investigation of The Wood Products Case," by Arnold Baker, Felicia Gross and
Edward Tower. North American Journal of Economics and Finance, Spring 1997, 39-55.
100."The Effects of Import Quotas on National Welfare: Comment," by Omer Gokcekus and Edward Tower.Southern Economic
Journal, October 1997, 584-587.
101."The Commodity Creating Tariff and Other Paradoxes," by Donyong Park and Edward Tower. International Review of
Economics and Business, December 1997, 831-835.
102."Can a Periodic Voluntary Export Restraint Raise Importing Country Welfare?" by Omer Gokcekus and Edward Tower,
Journal of Economic Integration, December 1997, 485-504.
103."Does Trade Liberalization Benefit Young and Old Alike?" by Omer Gokcekus and Edward Tower. Review of International
Economics, February 1998, 50-58.
104."The Optimum Minimum Wage When Labor Services are Taxed," by Mark Grimes and Edward Tower.
International Review of Economics and Business, June 1998, 1-9 (lead article). Working paper:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=40045
105."Import Quotas, Foreign Capital and Income Distribution: Comment," by John Gilbert and Edward Tower.The American
Economist, Fall 1998, 90-93.
106."A Tobacco Grab," The (Raleigh) News and Observer, (letter to the editor) December 3, 1998.
107."Cost Benefit Analysis of Foreign Aid for a Highly Distorted Economy: The Case of Sudan," by Kiyoun Han and Edward
Tower. Chapter 11 of Foreign Aid: New Perspectives edited by Kanhaya Gupta (University of Alberta). This book is part of
a series edited by William Darity, Jr. (UNC) and Warren J. Samuels (Michigan State University) entitled "Recent Economic
Thought." Kluwer Academic Publishers. February 1999, 191-209.
108.”The January Barometer,” Barron’s (The Dow Jones Business and Financial Weekly), (letter to the editor) February 7, 2000,
58.
109.”A Golden Jubilee Note on Graaff’s Optimum Tariff Structures,” by Edward Tower and John Gilbert. History of Political
Economy, Fall 2000, 421-436. This is the second article in a symposium which leads off the issue. The other contributors
are Murray C. Kemp, Koji Shimomura and Jan Graaff (who in his 90’s replied to the K&S and T&G pieces).
http://hope.dukejournals.org/content/32/3/421.full.pdf+html
110.”How to Encourage Exports Without a Budgetary Cost: Comment on Wang and Tsai,” by Patrick Conway, Wilfrid Csaplar
and Edward Tower, Rivista Internazionale de Science Economiche e Commercialli (Review of World Economics),
December 2000, 701-704.
111.”January Theories,” Barron’s, (letter to the editor) January 8, 2001, 42.
112.”Protectionism, Labor Mobility, and Immiserizing Growth in Developing Countries,” by John Gilbert and Edward Tower.
Economics Letters, March 2002, 135-40. http://www.sciencedirect.com/science/article/pii/S0165176501005869
113.“Is Talk Cheap? Buying congressional Testimony with Campaign Contributions,” by Ryan Gibbs, Omer Gokcekus and
Edward Tower. Journal of Policy Reform, Issue 3, 2002. This paper was the subject of a column titled “Say the Magic
Word,” by Richard Morin in the Washington Post, Sunday April 13, 2003, complete with an illustration of a hand with a
dollar sign on the cufflink holding a megaphone made out of the US Capital Building; the column was picked up by the
Durham Herald and the Charlotte Observer. Working paper:
http://public.econ.duke.edu/Papers//Other/Tower/Talk_Cheap.pdf
114.“Trade Protectionism,” by William H. Kaempfer, Edward Tower and Thomas D. Willett, in The Encyclopedia of Public
Choice, Charles K. Rowley and Friedrich Schneider (ed.) Routledge, 2003. 550-576. Working paper:
http://public.econ.duke.edu/Papers/Other/Tower/Protectionism.pdf
115.“Evaluating Croatian Equities,” by Vladamir Cvijanovic, Mia Mikic and Edward Tower, The Zagreb Journal of Economics,
Volume 7(10)2003. Other contributors to this issue include Robert A. Mundell. Working paper:
http://public.econ.duke.edu/Papers/Other/Tower/croatian_equities.pdf
116. “Rational Pessimism: Predicting Equity Returns by Tobin’s q and Price/Earnings Ratios.” By Mathew Harney and Edward
Tower. The Journal of Investing, Fall 2003, 58-69. Working paper:
http://public.econ.duke.edu/Papers//Other/Tower/Pessimism.pdf
117. Gokcekus, O. and E. Tower (2003). “An Efficiency Enhancing Minimum Wage.” Journal of Policy Reform, Spring. pp.
247-259. Working paper: http://public.econ.duke.edu/Papers//Abstracts03/abstract.03.01.html
118. “School Choice: Money, Race and Congressional Voting on Vouchers,” by Omer Gokcekus, Joshua J. Phillips, and Edward
Tower. Public Choice. 2004. 20 pp. We received a nice note from Milton Friedman saying he was pleased that we had
found support for his hypothesis that teachers’ unions were a major impediment to school vouchers. In our paper, we
found that congresspersons receiving lots of money from teachers’ unions were more likely to vote against a voucher
experiment. Working paper: http://public.econ.duke.edu/Papers/Other/Tower/School_Choice.pdf
119. ”Predicting Equity Returns for 37 Countries: Tweaking the Gordon Formula.” Kenneth S. Reinker and Edward Tower.
Journal of Investing, Summer 2004. 81-92. Working paper:
http://public.econ.duke.edu/Papers//Other/Tower/Equity_Returns.pdf
120. “Labor PAC Campaign Contributions and NAFTA Legislators: Rhetoric or Retribution?” by Gretchen Phillips and Edward
Tower. A chapter in Empirical Methods in International Trade: Essays in Honor of Mordechai E. Kreinin, edited by Michael
Plummer, Edward Elgar Publishers, 2004. Working paper:
http://public.econ.duke.edu/Papers//Other/Tower/nafta_vote.pdf
121. "Sweetening the Pot: How American Sugar Buys Protection,” by Omer Gokcekus, Justin Knowles and Edward Tower.
Chapter 8 in The Political Economy of Trade, Aid and Foreign Investment Policies, edited by Devashish Mitra and Arvind
Panagariya, Elsevier, 2004. This volume is dedicated to me, with a forward by Jagdish Bhagwati, saying kind words about
me. pp.177-196. Working paper: http://public.econ.duke.edu/Papers//Other/Tower/sweet.pdf
122. “The Employment Maximizing Import Quota Under Domestic Monopoly,” by William H. Kaempfer, Edward Tower and
Thomas D. Willett, Journal of International Logistics and Trade (the inaugural issue of a new journal published in Korea),
Volume 1, Number 1, 2004. Working paper: http://public.econ.duke.edu/Papers//Other/Tower/Kaempfer_Tower_Willett.pdf
Illustration for entry 113
123. “Index Fundamentalism Revisited,” by Kenneth S. Reinker and Edward Tower. The Journal of Portfolio Management,
Summer 2004. pp. 37-50. This article was the subject of an article by Fred Gabriel in InvestmentNews, an online financial
newsletter. It was also the subject of a small article by Lewis Braham and Toddi Gutner in Business Week, May 3, 2004, p.
124, with the headline “Index Funds, Bah!” and an illustration of two rabbits crossing a finish line in a race with the one
with a jockey in the lead, representing our finding that Vanguard’s managed funds outperformed its index funds over its
entire history. Its results were cited in the December 2004 issues of Forbes and Fortune, and in an article by Daniel Akxt in
Bloomberg Wealth Manager, April 2005. John Bogle, the founding CEO of the Vanguard company talked with Paul
Merriman, on his radio show (which is available on the web) for four minutes about our study in the Spring of 2004. Then
on December 16, 2005, Bogle, again on Merriman’s radio show, cited our study as justification for why he holds both index
funds and managed funds in his own portfolio. My wife said from listening to him that it sounded as if citing our research
was part of his standard patter. In the spring of 2005 Bogle gave a talk at the Fuqua School and mentioned my
(coauthored) research on mutual funds twice. Working paper: http://public.econ.duke.edu/Papers//Other/Tower/Index.pdf
124. “Are Vanguard’s Managers Good Stock-Pickers or Style-Pickers?” by Kenneth S. Reinker and Edward Tower. The Journal
of Portfolio Management, Spring 2005. 109-11. Jack Bogle emailed me that he “loved this paper.” This was natural since it
showed that with style adjustment Vanguard’s managed funds underperformed Vanguard’s index funds by exactly the
difference in average expense ratios of the two. Thus it supports his EMH: Expenses matter hypothesis.
125. “Steeling House Votes at Low Prices for the Steel Import Quota Bill of 1999,” by Robert C. Fisher, Omer Gokcekus and
Edward Tower, Chapter 5 of The Political Economy of Policy Reform: Essays in Honor of J. Michael Finger, Douglas
Nelson (ed.), Elsevier, 2005. pp.105-130. Working paper:
http://public.econ.duke.edu/Papers//Other/Tower/steeling_votes.pdf
126. “Ranking Realities,” by Kenneth Reinker, Ed Tower and Wei Zheng, Barron’s, letter to the editor, March 14, 2005, 84:p.38.
127. “Fidelity versus Vanguard: Comparing the Performance of the Two Largest Mutual Fund Families,” by Wei Zheng and
Edward Tower. International Review of Economics and Business, December 2005, 433-465. This article is the lead article
in the issue and the subject of an article by Fred Gabriel in InvestmentNews, November 2004. Working paper:
http://public.econ.duke.edu/Papers//PDF/FIDELITY_versus_VANGUARD_11_29_2004.pdf
128. “How did the 2003 Prescription Drug Re-importation Bill Pass the House?” Omer Gokcekus, Mike Adams, Henry
Grabowski, and Edward Tower. Economics and Politics. 2006, 27-45. Congressfolk who receive lots of money from the
pharmaceutical industry tend to vote against reimportation of American produced drugs from Canada and Mexico.
Congresspersons whose districts have lots of old people, who border Canada and Mexico and who receive contributions
from HMOs, who want cheap drugs tend to vote in favor of reimportation. Working paper version:
http://public.econ.duke.edu/Papers//PDF/drug_reimportation_01_07_05.pdf
129. “Do Vanguard’s Managed Funds Beat Its Index Funds? Looking for Prescient Stock and Style Selection,” Abel Rodriguez
and Edward Tower, The Journal of Indexes,11 (2) March/April 2008: 26-35.
http://www.etf.com/publications/journalofindexes/joi-articles/3864-do-vanguards-managed-funds-beat-its-indexfunds.html?showall=&fullart=1
130. “Enhanced Versus Passive Mutual Fund Indexing: Has DFA Outperformed Vanguard by Enough to Justify its Advisor
Fees?” by Edward Tower and Cheng-Ying Yang, Journal of Investing, 17:4. Winter 2008. pp. 71-81. Working paper
version: http://public.econ.duke.edu/Papers//PDF/Vanguard_Versus_DFA_30%20july_2007.pdf
131. “Ranking Mutual Fund Families: Maximum Loads and Minimum Expenses as Markers for Moral Turpitude, by Edward
Tower and Wei Zheng. International Review of Economics. 55:4. December 2008. pp. 315-350. This article is the lead
article in the issue.(made the top ten list of downloads of recent Economics department working papers, worldwide.)
Working paper version: http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1265103
132. “Performance of Actively Managed Versus Index Funds: the Vanguard Case” Chapter 12 of Mutual Funds: Portfolio
Structures, Analysis, Management, and Stewardship, edited by John A. Haslem. Hoboken: Wiley 2009. Other Authors are
William Bernstein (principal of Efficient Frontier Advisors and author of five books, three of which John Bogle and I have
written cover blurbs for), John Bogle (founding CEO of Vanguard), John A. Haslem (University of Maryland), Burton
Malkiel (Princeton), Don Phillips (Morningstar), Larry Swedroe (financial advisor and author of several books). Pp. 211236. Working paper version:
http://public.econ.duke.edu/Papers//PDF/0419CHAPTER_12_TOWER_working_paper_version.pdf
133. “Classic and Enhanced Index Funds: Performance and Issues,” Chapter 13 of same book as in entry 132, pp. 237-264.
Working paper version:
http://public.econ.duke.edu/Papers//PDF/05032009CHAPTER_13%20TOWER_working_paper_version.pdf
134. “Time Zone Arbitrage in U.S. Mutual Funds: Damaging to Financial Integration Between the US, Asia and Europe?” Katelyn
Donnelly and Edward Tower. Chapter 8 in Challenges and Opportunities for Trade and Financial Integration in Asia and
the Pacific. Studies in Trade and Investment 65, an online monograph, Mia Mikic (ed.). Trade Policy Section, United
Nations Economic and Social Commission for Asia and the Pacific. Pp. 134-165. December 2009.
http://www.unescap.org/tid/publication/tipub2563_chap8.pdf
135. ”The deadweight cost of war: An illustrative CGE” by John Gilbert, Tanigawa Takahiko, Krit Linananda, Edward Tower and
Alongkorn Tuncharoenlarp. Economics of Peace and Security Journal, June 2011, vol. 6, issue 2, pages 34-40.
This paper arose out of a take home final exam that I gave at Chulalongkorn University in Bangkok. The other authors,
except for John Gilbert are my students in the course. The paper illustrates that the cost of war is augmented by the
deadweight cost attached to the taxes needed to finance it. It also illustrates that the cost of a temporary war is shorter if
the country can borrow and lend on world markets. This second point is an illustrative example of the role of intertemporal
borrowing discussed by Robert Barro in his intermediate macroeconomics text. Working paper version:
http://econpapers.repec.org/article/uwejournl/v_3a6_3ay_3a2011_3ai_3a2_3ap_3a34-40.htm
136. “Reflections on Jack Bogle's First Mutual Fund,” Prepared for Vanguard Bogleheads 10 reunion. October 12-14, 2011, by
E. Tower and Yunze Chen. This paper is on line at http://www.bylo.org/bogleheads/BH-10_Report_20111106.pdf
th
This paper is contained in its entirety in the report of the 10 reunion of the Vanguard Bogleheads, a group of Vanguard
investors which meets each year near the Vanguard headquarters outside of Philadelphia. We discuss index investing and
then shower questions on Vanguard principals at Vanguard headquarters. Only two people gave talks at this three day
meeting, with approximately 200 people attending, Jack Bogle, the founder of Vanguard and me. This paper I coauthored
with my undergraduate honors thesis advisee, Yunze Chen. It extends a paper that I wrote on sabbatical in the fall of 2010.
A further extension will be Yunze Chen’s honors thesis. Yunze and I have now brought in Alecia Waite as an additional
coauthor. Alecia is a MA student, who has special programming skills in Visual Basic. We expect to have a final version
submitted for publication in the Spring of 2012. The Vanguard Bogleheads do not believe in market timing, also called
tactical asset allocation, except in extraordinary circumstances and even then advocates making only small adjustments to
take advantage of mutual fund mispricing. Asset allocation mutual funds engage in portfolio adjustments in order to time
the market. We examined 43 asset allocation mutual funds. We found that tactical asset allocation increases their average
return by 0.32% per year over a corresponding portfolio of cheap Vanguard mutual funds. However, once the differential
expenses are accounted for, this differential shrinks to 0.20% per year. Thus, the gain from tactical asset allocation is not
extraordinary. This result may change as we test out a better method of analysis and use additional data.
137. “Tobin’s q versus CAPE versus CAPER: Predicting Stock Market Returns Using Fundamentals and Momentum,” Journal of
Investing, Spring 2012. An earlier version is on line at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1788382.
This paper predicts the stock market using Tobin’s q, momentum, the John Campbell—Robert Shiller CAPE, and a new
variant of the CAPE, the CAPER—trend earnings calculated using regressions of log earnings on time. The CAPER is
vastly superior to the CAPE. But q emerges as by far the best of the predictors. Two versions of the model are built. The
one with momentum predicts a 29% fall in real wealth over the eight years from end 2010. The one without momentum
predicts real wealth to increase over all time horizons, but even after fifteen years, only a 32% increase in real wealth. I
Tobin’s q also is a much more important predictor than CAPE and CAPER when all three are used together in a prediction
equation. This is surprising, because CAPE gets more press attention. I wrote this paper for and presented it at a
conference for finance professionals called “Practical Financial History,” hosted by Andrew Smithers and Co. in New York
City in March 2011. The paper finds a conceptual error in the way that Shiller calculates his CAPE using his data. Working
paper version: http://ideas.repec.org/p/duk/dukeec/12-02.html
138. E. Tower and Chao Yang (2013). “Is Traditional Indexation Passé? Vanguard versus The Enhanced Indexers, DFA, RAFI,
and WisdomTree.” in the special section on Factor Based Portfolio Construction in the summer issue of the Journal of
Index Investing. Forthcoming. In working paper form, http://ssrn.com/abstract=2179188 this paper was listed in January
2013 on Social Sciences Research Network's Top Ten download list for: Mutual Funds, Hedge Funds, & Investment
Industry eJournal. Working paper version:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2179188&download=yes
Vanguard provides low-cost capitalization-weighted mutual funds: traditional index funds. The asset allocation of DFA’s
core funds is determined by fundamentals as well as market cap. RAFI’s allocation depends on four fundamental factors—
dividends, cash flow, sales, and book equity value. WisdomTree’s is also determined by fundamentals alone. We compare
returns of these enhanced index funds with corresponding Vanguard mutual fund portfolios. Focusing on US funds only,
DFA had lower returns than portfolios of Vanguard funds that mimicked their style; RAFI and WisdomTree out-returned
Vanguard. Two cheers for enhanced indexation and one for traditional. Working paper version:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2179188
The results of this paper were quoted in Forbes, June 24, 2013, p. 90,
139. Heehyun Lim and E. Tower. . “Fundamental versus Traditional Indexation for International Mutual Funds: Evaluating DFA,
WisdomTree and RAFI PowerShares. “ The Journal of Investing. Winter 2014. Working paper version:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2288677
140. Alecia Waite Cassidy, E. Tower, and Xiaolu Wang. (2014). “Manufacturing Fetishism: The Neo-Mercantilist Preoccupation
with Protecting Manufacturing.” In Amit Batabyl (ed.) The Region and Trade: New Analytical Directions. World Scientific.
Forthcoming in 2015. Working paper version: http://www.fordschool.umich.edu/rsie/workingpapers/Papers626650/r639.pdf
141. Heehyun Lim and E. Tower. . “Fundamental versus Traditional Indexation for International Mutual Funds: Evaluating DFA,
WisdomTree and RAFI PowerShares. “ An expanded and updated version of article #139 is to be published by Springer
in 2015 in a volume honoring Jack L. Treynor, edited by my former student, John Guerard.
WORKING PAPER DISCUSSED IN THE WALL STREET JOURNAL’S MarketWatch.
David Barry, Edward Stansky, and Edward Tower. “GMO’s Predictions: A Useful Guide for Investors?” June 6, 2014.
Under review. Based on this paper, Brett Arends published on line a Wall Street Journal MarketWatch article “A Stock
Market Forecast with a 14-Year Winning Streak.” June 10, 2014. This paper was listed on July 3, 2014 on Social
Sciences Research Network's Top Ten download list for: Mutual Funds, Hedge Funds, & Investment Industry eJournal.
The ranking was third most frequently downloaded paper first posted in the most recent 60 days. Working paper:
http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2446546
http://www.marketwatch.com/story/jeremy-granthams-stock-picking-batting-average-2014-06-09?link=MW_popular
The working paper version of this article is at
BOOKS ENDORSED BY EDWARD TOWER WITH STATEMENTS ON THE COVER OR INSIDE FLAP.
John Gilbert, Trade Policy, Processing and New Zealand Forestry, Ashgate, Aldershot, 2000.
William J. Bernstein, Birth of Plenty, McGraw-Hill, 2004. Fellow endorsers include John C. Bogle (founder of the Vanguard
Group).
William J. Bernstein, A Splended Exchange: How Trade Shaped The World, Atlantic Monthly Press, 2008. Fellow endorsers
include Richard Sylla (Henry Kaufman Professor of The History of Financial Institutions and Markets at NYU and occasional
contributor to NPR), Pietra Rivoli, (author of The Travels of a T-Shirt in the Global Economy), Arthur Laffer (of the Laffer curve),
Peter L. Bernstein (author of Against the Gods: The Story of Risk), and John Bogle. This was one of The Economist’s books of
the year of 2008.
William J. Bernstein, The Investor’s Manifesto: Preparing for Prosperity, Armageddon and Everything in Between, Wiley, 2009,
foreward by Jonathan Clements (who wrote the Wall Street Journal’s “Getting Going” column for many years),. Fellow endorsers
include John C. Bogle, Burton G. Malkiel (Chemical Bank Professor at Princeton and former dean of the Yale School of
Management, Larry E. Swedroe (Principal and Director of Research at the Buckingham Family of Financial Services).
Taylor Larimore, Mel Lindauer, Richard A. Ferri and Laura F. Dogu (eds.) The Boglehead’s Guide to Retirement Planning, with
forward by John C. Bogle.Wiley 2009. Other endorsers include William J. Bernstein, Jonathan Clements (who wrote the Wall
Street Journal’s Getting Going column for many years), Don Phillips (Managing Director of Morningstar).
Richard A.Ferri, The Power of Passive Investing, Wiley, 2011. Other endorsers include William J. Bernstein, Jonathan Clements,
Mel Lindauer (Forbes columnist), Don Phillips, Allan Roth (author), Bill Schultheis (author)., and Jim Wiandt (editor and
publisher of the Journal of Indexes).
Larry E. Swedroe and R.C. Balaban. Investment Mistakes Even Smart Investors Make and How to Avoid Them. McGraw-Hill,
2011.Both of these books advocate index investing with constant portfolio weights to maintain diversification.
William J. Bernstein, Masters of the Word: How Media Shaped History, Grove/Atlantic Press, 2013.
Omer Gokcekus. The Cost of the Cyprus Separation. 2000.
Omer Gokcekus and Kevin Bengyak, Peculiar Dynamics of Corruption. World Scientific. 2014.
Larry Swedroe & Kevin Grogan. Reducing the Risk of Black Swans: Using the Science of Investing to Capture Returns with Less Volatility. BAM Alliance Press. 2014. Nilanjan Banik. The Indian Macroeconomic Story. Sage Publishing Co. 2015.
MOST RECENT BOOK REVIEW
Charles K. Rowley and Friedrich Schneider (Eds.), The Encyclopedia of Public Choice. Dordrecht/Boston/London: Kluwer
Academic Publishers, 2004. 2 volumes, 2004, 1146 pages. $395.00.Public Choice, June 2006, pp.491-494.
SEMINARS IN 2008-2014
Claremont Graduate University, Claremont, CA 2008 and 2009.
University of Auckland, New Zealand, May 2009, two seminars
Chulangkorn University, Bangkok, Thailand, June 2009.
Vanguard Bogleheads Group, Malvern, PA October 2010, 2011, 2012, Dallas Texas, September 2009
Public Choice Society, 2008 and 2009, San Antonio and Las Vegas.
United Nations, Economic and Social Commission for Asia and the Pacific (ESCAP) Bangkok, 2009, 2010, 2011,
2012, 2013.
Utah State University, 2010.
Practical Financial History, March 2011, New York City.
United Nations, ESCAP, (Economic and Social Commission for Asia and the Pacific), in Bangkok, Thailand. July
1911, July 2012, July 2013..
Vanguard Bogleheads, October 2011, October 2012, Philadelphia, PA.
Nanyang Technological University, Singapore, July 2013.
Singapore Economic Association, July 2013.
Asia Pacific Economic Association, Bangkok, July 2014.
EDITORIAL BOARDS
Contemporary Policy Issues, 1988-1996.
Eastern Africa Economic Review, 1986-2000.
Economic Inquiry, 1987-1996.
EDvantage, 2013-present. On line Economics Teaching Resource Website based at George Mason University
http://www.theedvantage.org/about
International Review of Economics and Business (Rivista Internazionale di Scienze Economiche e Commerciali), 2002-2006.
International Review of Economics, 2007-present.
Journal of Economic Integration, 1991-2002.
Journal of International Logistics and Trade, 2003-present.
Journal of Policy Reform, 2001-present.
Review of International Economics, 1992-2002.
Southern Economic Journal, 1980-82.
North American Review of Economics and Finance, 1989-present.
Westview Press, Political Economy of Global Interdependence Series, 1989-2002.
REFEREE
African Journal of Agricuultural Research, American Economic Review, Blackwell, Canadian Journal of Economics, Canadian
Public Policy, Contemporary Policy Issues Eastern Africa Economic Review, Eastern Economic Journal, Economica, Economic
Inquiry, Economic Journal, Economic Record, Economics: The Open-Access, Open-Assessment E-Journal,
History of Political Economy, International Economic Journal, International Economic Review, International Review of
Economics, International Review of Economics and Business, International Review of Economics and Finance, International
Trade Journal, Journal of Development Economics, Journal of Economic Integration, Journal of Economics and Finance,
Journal of Economics and International Finance, Journal of the History of Economic Thought, Journal of Industrial Economics,
Journal of International Economic Integration, Journal of International Economics, Journal of International Money and Finance,
Journal of Investing, Journal of Monetary Economics, Journal of Money, Credit and Banking, Journal of Political Economy,
Journal of Post Keynesian Economics, New Zealand Economic Papers, North American Review of Economics and Finance,
Oxford Economic Papers, Policy Sciences, Public Choice, Quarterly Journal of Economics, Quarterly Review of Economics and
Business, Review of Economics and Statistics, Review of Economic Studies, Review of International Economics, Revista de
Analysis Economico, Singapore Economic Review, Weltwirtschaftliches Archiv, Western Economic Journal, World Bank
Review, Southern Economic Journal, A H M Publishing Co., Addison-Wesley Publishing Co., Allyn & Bacon, Blackwell,
Cambridge University Press, Duke University Press, Ford Foundation, Harlan Davidson, Inc., John Wiley and Sons, Little, Brown
and Company, M.I.T. Press, National Science Foundation, Prentice Hall, Inc., Richard D. Irwin, Inc., St. Martin's Press,
University of Michigan Press, William M. Brown Co., Inc., Worth Publishers.
Book Reviews Published from my Duke Economics 268S course: Special Topics in
International Trade and Economic Development taught in the Spring of 2011 through
Spring of 2013. I am delighted with what these students were able to do.
1.Hashem Alwaizzum. The Long Divergence. By Timur Kuran, Princeton 2011 in Alqabas New Paper (the Kuwaiti
version of the Wall Street Journal), http://www.alqabas.com.kw/Temp/Pages/2011/05/09/44_page.pdf> paper May
9, 2011.
2. Conrad Chao. Borderless Economics: Chinese Sea Turtles, Indian Fridges, and the New Fruits of Global
Capitalism. By Robert Guest. Palgrave Macmillan. 2011. Singapore Economic Review. Vol. 57, No.4. December
2012.
3.Yoonhyun Allison Cho. The Price of Everything: Solving the Mystery of Why We pay What We Do. By Eduardo
Porter. Portfolio/Penguin, 2011. Singapore Economic Review, 2012.
4.Yoonhyun Cho, Heehyun Lim, and Michelle Wu. Trade Policy Disaster: Lessons from the 1930’s (Ohlin Lectures). By Douglas A. Irwin. The MIT Press. 2011. United Nations Economic and Social Commission for Asia and the Pacific. http://www.unescap.org/tid/artnet/book/Book-­‐Review-­‐6-­‐Jun-­‐2012.pdf 5.Jaiwen Chong. The Globalization Paradox: Democracy and the Future of the World Economy. By Dani Rodrik. W.W. Norton & Company. Feb 2011. ASEAN Economic Bulletin. December 2011. 6. Ning Fu. Awakening Giants, Feet of Clay. By Pranab Bardhan. Princeton University Press. 2010. Journal of the
Asia Pacific Economy, Volume 16 Issue 2, May 2011.
7. Maria Hicks. Left Behind: Latin America and the False Promise of Populism. By Sebastian Edwards. University of
Chicago Press. 2010. Latin American Review of Books. June 2011.
8. Paul Horak. The Economics of Enough: How to Run the Economy as if the Future Matters. Princeton. By Diane
Coyle. 2011, The Business Economist, published by the Society of Business Economists, published in the UK, Vol
42, number 2, 2011. pp. 55-57. August 2011. and on the webpage at.http://www.sbe.co.uk/
9. Allison Jaros. Peddling Protectionism: Smoot-Hawley and the Great Depression. By Douglas A. Irwin. Princeton
University Press. 2011. Economic and Social Commission for Asia and the Pacific: an office of the United Nations.
Nations. http://www.unescap.org/tid/artnet/book/Book-­‐Review-­‐1-­‐August-­‐2011.pdf
10.Zarinah Joseph. Global Imbalances and the Lessons of Bretton Woods. By Barry Eichengreen. MIT Press.
2010. Malaysian Journal of Economic Studies. 2012.
11. Tanya Mallavarapu. How India’s Small Towns Live (or Die). By Parmoita Shastri. Academic Foundation. 2001.
Economic and Social Commission for Asia and the Pacific: an office of the United Nations.
http://www.unescap.org/tid/artnet/book/Book-Review-8-Sep-2012.pdf
12. Hasiando Manih. When the Third World Fell Behind. By Jeffrey Williamson. MIT Press 2011. Jakarta Post,
May 2011.
13. Vadim Mokhnatkiin. After the Fall: The End of the European Dream and the Decline of a Continent. By Walter Laquer. Macmillan. 2011. New Perspectives on Political Economy. Published in the Czech Republic. vol. 8, no. 2, Fall 2012. 14. Kumi Morioka. 23 Things They Don’t Tell You about Capitalism. By Ha-­‐Joon Chang. Bloomsbury USA. 2011. Singapore Economic Review. Vol. 57, No. 4 (2012). 15. Alexandra Opera. The Haves and the Have Nots: A Brief and Idiosyncratic History of Global Inequality. By Branko Milanovic. Basic Books. 2010. Review of Economic and Business Studies. Published in Rumania. vol. 4, issue 1, pages 303-­‐306, 2011. 16. Nur M. Adhi Purwanto. Colonial Legacies: Economic and Social Development in East and Southeast Asia. By Anne E. Booth. University of Hawai’i Press. 2007. ASEAN Economic Bulletin. Volume 25, Issue 2, 2008. 17.Khubaib Siddiqui. Exhorbitant Privilege: The Rise and Fall of the Dollar. By Barry Eichengreen. Oxford University Press. 2011. 215pp. ISBN 9780199596713. Published on line at Economic and Social Commission for Asia and the Pacific: an office of the United Nations. http://www.unescap.org/tid/artnet/book/Book-­‐Review-­‐5-­‐May-­‐2012.pdf 18. Ganna Tkachenko. Economic growth and structural features of transition. By Enrico Marelli and Marcello Signorelli. Houndmills, Basingstoke: Palgrave Macmillan. 2010. Journal of Economic Issues. Vol. XLV №4, December 2011. 19.Jason Wong. Red Capitalism: The Fragile Financial Foundation of China’s Extraordinary Rise. By Carl E. Walter and Fraser J.T. Howie. Wiley. 2011. Singapore Economic Review. December 2012. 20. Xinyan Xie. As China Goes, So Goes the World: How Chinese Consumers Are Transforming Everything. By
Karl Gerth, Hill and Wang. 2010. Journal of the Asia Pacific Economy, Volume 16. Issue 3. August 2011. 21. Nicky Axmann, David Malin Roodman’s. Due Diligence: An Impertinent Inquiry into Microfinance. Washington, D.C.: Center
for Global Development, 2012. Singapore Economic Review. December 2014..