The Center for Dynamic Economics (CEDEC) started life on July 1, 2006, on the initiative of Dean Edward Macias and Professor Ping Wang, Chair of the Economics Department, with Professor Costas Azariadis as its inaugural director (2006-09), succeeded by Professors Rodolfo Manuelli (2009-11), Ping Wang (2011-14), Yongseok Shin (2014-2016), and Michele Boldrin (2016-present).

CEDEC is an umbrella group of the Washington University macroeconomics faculty and affiliated researchers from other institutions. CEDEC supports theoretical, empirical and policy-oriented research by campus and visiting faculty on a wide of macroeconomic issues. Among these, of particular relevance are growth, development and poverty; capital mobility, technology and trade; financial markets, banks and asset prices; labor and unemployment; wealth and income distribution; money and credit; monetary and fiscal policy.

CEDEC aims to promote the production and distribution of new knowledge, to contribute to a learned debate on important issues of public policy, to bring economics students in contact with cutting-edge research, to help the Department of Economics attract first-rate faculty in macroeconomics and related areas, and to raise the quality and international visibility of research at Washington University in the broadly defined of macroeconomics listed above.

 

Objectives

The Center for Dynamic Economics (CEDEC) is an umbrella group of the Washington University macroeconomics faculty and affiliated researchers from other institutions. CEDEC supports theoretical, empirical and policy-oriented research by campus and visiting faculty on a wide range of macroeconomic issues. Among these, of particular relevance are growth, development and poverty; capital mobility, technology and trade; financial markets, banks and asset prices; labor and unemployment; wealth and income distribution; money and credit; monetary and fiscal policy.

CEDEC aims to promote the production and distribution of new knowledge, to contribute to a learned debate on important issues of public policy, to bring economics students in contact with cutting-edge research, to help the Department of Economics attract first-rate faculty in macroeconomics and related areas, and to raise the quality and international visibility of research at Washington University in the broadly defined areas of macroeconomics listed above.

Governance and Oversight

CEDEC is administrated with the following organizational structure: Director, Research Associates (internal voting members), Research Affiliates (external, non-voting), Advisors (internal or external, non-voting), and Staff. The Director is selected based on the recommendation of Research Associates in consultation with Department Chairs and Executive Committee.

The Center is governed collectively by the Research Associates. A Project Committee oversees the planning, budgeting, and spending on CEDEC activities. The Project Committee is composed of the Director (chair of the committee) and two Research Associates; the Committee meets on need-basis to allocate research funds, decide current initiatives, judge proposals submitted by the faculty, evaluate collaborations with other research centers and seek external funding.

The current organizational structure of CEDEC is outlined in Members.

Activities

CEDEC features the following academic activities:

a) The Seminar in Dynamic Economics. This year-long course is staffed by a faculty member with some external speakers. It also allows graduate students to present their works in progress. The purpose of this seminar is to expose graduate students to cutting-edge research agendas and help identify suitable dissertation topics.

b) Distinguished Annual Lectures and Panel Debates. These lectures are meant to point out directions for future research or identify important issues for public debate. They are delivered by prominent academics and public policy figures, including Nobel laureates.

c) Longer-term visits by promising researchers, some of whom may develop an interest in a permanent relationship with Washington University.

d) Short term visits by collaborators associated with other institutions

e) Conferences and workshops. Support the Department’s Macroeconomics Workshop. Organize meetings and conferences on topics of interest to CEDEC.

f) Travel to macroeconomics related conferences or to visit collaborators at other institutions by CEDEC Associates, as well as by other faculty members and graduate students. This activity will help ease financial burden, particularly for those travelling to high quality international conferences and conducting research with international collaborators.

g) Study groups of advanced graduate students supervised by CEDEC Associates or Affiliates. This activity will help bring graduate students to the frontier of current research.

h) Data related to macroeconomic studies. There are more and more new data sets collected by private agencies, some of which are highly valuable but costly. The data sets installed at CEDEC will be a public good, available to all faculty and graduate students to use for research.

i) Equipment for the Center and its affiliated research associates. Over time, there will be expenditures on technology upgrades and replacement of start-up equipment. CEDEC funds can also be use to help support equipment purchases by research associates, since this equipment (high performance computers, typically) may entail costs beyond what is covered by the department’s general computer budget and a researcher’s research fund.

j) Graduate student support. The Graduate School and the Department offer limited research support for graduate students. CEDEC can serve to complement other funds to help advanced graduate students with attendance at high quality scientific events.

k) Whatever other activities the Director and the Research Associates deem appropriate to fulfill CEDEC’s mission.

Activities over AY 2014-15

Conference

Seminar in Dynamic Economics

  • Gary Hansen, Univeristy of California-Los Angeles, February 19, 2015: “Fiscal Reform and Government Debt in Japan: A Neoclassical Perspective”
  • Manuel Snatos, University of Miami, April 9, 2015: “Bubbles and Mania”

Longer-term visits

  • Xiaoying Bai, Zhongnan University of Economics and Law
  • Yong Liu, Wuhan University
  • Yin-Chi Wang, Chinese University of Hong Kong
  • Hung-Ju Chen, National Taiwan University
  • Ming-Chia Li, National Chiao Tung University

Short-term visits

  • Jae Won Lee, Rutgers University
  • Elizabeth Caucutt, University of Western Ontario
  • Lance Lonchner, University of Western Ontario
  • Dennis Kristensen, University College London
  • John Kennan, University of Wisconsin
  • Ahu Gemici, Royal Halloway
  • Ray Riezman, University of Iowa
  • Wen-Chieh Lee, National Chengchi University
  • Yang Tang, Nanyang Technological University
  • Burak Uras, Tilburg University

Activities over AY 2015-16

Conference

Short-term Visits

  • Sang Yoon Lee, University of Mannheim
  • Munseob Lee, University of Chicago
  • Todd Schoellman, Arizona State University

Activities over AY 2016-17

Conference

Short-term Visits

  • Sugata Marjit, University of Calcutta
  • Sang Yoon Lee, Toulouse School of Economics
  • Munseob Lee, University of Chicago
  • David Levine, European University Institute

Activities over AY 2017-18

Conference

Short-term Visits

  • Parantap Basu (Durham University)
  • Gabriele Camera (Chapman University)
  • Munseob Lee (UC San Diego)
  • Ray Riezman (Iowa)