Newsmakers

Serguei Maliar, associate professor of economics, has received a grant from the National Science Foundation to support his research project titled “Analyzing non-stationary and unbalanced growth economic models."

About Professor Maliar’s Project:
This project will develop a new method for the analysis of mathematical models of the economy. The key feature of the new method is that it will give economists new tools to build and analyze models that include not just changes over time (dynamic models) and the possibility that chance plays a role in this changes (stochastic dynamic models) but models in which the fundamental characteristics of the economy including the probability of a change can vary over time (nonstationary stochastic dynamic models). Examples of nonstationarities are population growth, technological progress, variations in tastes of consumers and changes in monetary and fiscal policies. The project has clear potential to improve the methods economists currently use to answer research questions calling for these nonstationary stochastic dynamic models. In addition, the project has transformative potential; the new methods may mean that economists will be able to tackle new research problems that were impossible to answer with previous methods. If this project is fully successful, economic policymakers in the US will benefit from better scientific advice about the effects of their decisions on the US economy.

Learn more about Professor Serguei Malair»