Stuart Karl Landon - University of Alberta

Stuart Karl Landon
Curriculum Vitae
PERSONAL INFORMATION
Address:
Department of Economics
University of Alberta
Edmonton, Alberta, Canada
T6G 2H4
Phone: (780) 492-7632
e-mail:
Stuart.Landon@ualberta.ca
WEB-PAGES
http://www.arts.ualberta.ca/~econweb/landon/landon.htm
http://www.economics.ualberta.ca/en/FacultyandStaff/LandonStuart.aspx
CITIZENSHIP
Canadian
DEGREES
PhD: Economics, Queen’s University, 1985
MA: Economics, University of British Columbia, 1980
BA: Economics (Honours), McGill University, 1979
PRINCIPAL ACADEMIC POSITIONS
1 July 2000 – Present Professor
Department of Economics
University of Alberta
1 July 1992 – 30 June 2000 Associate Professor
Department of Economics
University of Alberta
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1 July 1985 – 30 June 1992 Assistant Professor
Department of Economics
University of Alberta
OTHER ACADEMIC POSITIONS
February 2008 – April 2008
January 2001 – April 2001
Visiting Academic
School of Economics and Finance
Victoria University of Wellington
Visiting Fellow
Economics Program
Research School of Social Sciences
Australian National University
1 January 1990 – 31 December 1990 Visiting Fellow
Department of Economics
Faculty of Economics and Commerce
Australian National University
NON-ACADEMIC POSITIONS
September 1999 – February 2000
April 1998
May 1997 – June 1997
September 1980 – September 1981
Consultant, World Bank
Consultant, World Bank
Consultant, World Bank
Economic Analyst
Department of External Affairs
Government of Canada
CURRENT AREAS OF RESEARCH INTEREST
Macroeconomics; interest rates; bond yields; public expenditures; oil stabilization funds.
CURRENT AREAS OF TEACHING INTEREST
Macroeconomic policy and theory
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RESEARCH AND PUBLICATIONS
Current Research
“Riding the Yield Curve: A Spanning Approach” with Valentina Galvani.
“What Drives US State Bond Yields – Fiscal Policy or Financial Market Risk,” with
Valentina Galvani.
“Government Revenue Stabilization Funds – Do They Make Us Better Off” with CE
Smith.
“Stabilization Funds for Petroleum Producing Jurisdictions: A Welfare-Based Comparison,”
with CE Smith.
“Domestic Monetary Policy Control of Interest Rates and Credit Expansion in Small Open
Economies”.
Journal Articles (Refereed)
Stuart Landon, “The Capitalization of Taxes in Bond Prices: Evidence from the Market for
Government of Canada Bonds,” Journal of Banking & Finance 33:12, December 2009,
2175-84.
Stuart Landon and C.E. Smith, “Investment and the Exchange Rate: Short Run and Long
Run Aggregate and Sector-Level Estimates.” Journal of International Money and Finance
28, 2009, 813-35.
Stuart Landon and C.E. Smith, “Taxation and Bond Market Investment Strategies: Evidence
from the Market for Government of Canada Bonds,” Canadian Tax Journal 56:2, 2008,
337-66.
Stuart Landon and C.E. Smith, “Government Debt Spillovers in a Monetary Union,” North
American Journal of Economics and Finance, 2007, 18:2, 135-54.
Stuart Landon and C.E. Smith, “The Exchange Rate and Machinery and Equipment
Imports,” North American Journal of Economics and Finance, February 2007, 18:1, 3-21.
Stuart Landon and C.E. Smith, “Seasonality in Canadian Bond Returns: The Role of
International Factors,” Canadian Journal of Administrative Sciences, December 2006, 23:4,
352-68.
Stuart Landon, Melville L. McMillan, Vijay Muralidharan and Mark Parsons, “Does Health-
Care Spending Crowd Out Other Provincial Government Expenditures” Canadian Public
Policy, June 2006, 32:2, 121-41.
Stuart Landon and C.E. Smith, "Exchange Rates and Investment Good Prices: A Cross-
Industry Comparison," Journal of International Money and Finance, 2006, 25:2, 237-56.
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Stuart Landon and C.E. Smith, “The Risk Premium in the Forward Exchange Rate:
Estimates for the Yen-Dollar Rate”, Review of International Economics, 2003, 11:1, 144-58.
Stuart Landon and C.E. Smith, “Government Debt Spillovers and Creditworthiness in a
Federation”, Canadian Journal of Economics, August 2000, 33:3, 634-61.
Stuart Landon, “Education Costs and Institutional Structure,” Economics of Education
Review, June 1999, 18:3, 327-45.
Stuart Landon, “Institutional Structure and Education Spending,” Public Finance Review,
September 1998, 411-46.
Stuart Landon and David L. Ryan, “The Effect of Tax Changes on the Prospects for Re-
Election: A Canadian Perspective,” Agenda, 1998, 37-48.
Stuart Landon and C.E. Smith, “Quality Expectations, Reputation and Price,” Southern
Economic Journal, 1998, 64:3, 628-47.
Stuart Landon, “High School Enrollment, Minimum Wages and Education Spending,”
Canadian Public Policy, June 1997, 23:2, 141-63.
Stuart Landon and David L. Ryan, “The Political Costs of Taxes and Government
Spending,” Canadian Journal of Economics, February 1997, 30:1, 85-111.
Stuart Landon and C.E. Smith, “The Use of Quality and Reputation Indicators by
Consumers: The Case of Bordeaux Wine,” Journal of Consumer Policy, 1997, 20:3, 289-
323.
Stuart Landon, “Testing Aggregate Neutrality with Heterogeneous Sectors,” Journal of
Macroeconomics, Winter 1995, 17:1, 131-48.
Stuart Landon, “U.S. Money Demand: Structural Shifts or Heterogeneous Agents”
Economic Inquiry, July 1992, 496-510.
Peter C. Coyte and Stuart Landon, “Cost-Sharing Versus Block-Funding in a Federal
System: A Demand Systems Approach,” Canadian Journal of Economics, November 1990,
23:4, 817-38.
Stuart Landon and Bradford G. Reid, “Government Deficits and Money Growth,” Review of
Economics and Statistics, August 1990, 72:3, 382-9.
Stuart Landon, “The Two-Sector Model and Production Technique in the Short Run and the
Long Run,” Oxford Economic Papers, April 1990, 42:2, 429-45.
Peter C. Coyte and Stuart Landon, “The Impact of Competition on Advertising: The Case of
Political Campaign Expenditures,” Canadian Journal of Economics, 1989, 22:4, 795-818.
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Stuart Landon, “Production Technique, External Shocks and Unemployment,” Journal of
Macroeconomics, 1988, 10:3, 371-88.
Stuart Landon, “Unanticipated Policy Shocks, Regime Changes and Unemployment in
Canada, 1967-1983,” Applied Economics, 1987, 19:8, 1065-81.
Other Publications
Stuart Landon and C.E. Smith, “Government Revenue Volatility in Alberta,” forthcoming in
Boom and Bust Again edited by David L. Ryan, Edmonton: University of Alberta Press.
Stuart Landon and C.E. Smith, “Energy Prices and Alberta Government Revenue
Volatility,” CD Howe Institute Commentary No. 313, November 2010.
Valentina Galvani and Stuart Landon, “Riding the Yield Curve: A Spanning Analysis,”
Proceedings of the 2011 Annual Meeting of the Midwest Finance Society, Vol 8, 2011.
Stuart Landon and C.E. Smith, “Government Revenue Volatility: The Case of Alberta, an
Energy Dependent Economy,” Research Paper Series No 23/2010, Economics and
Econometrics Research Institute, Brussels, August 2010.
Stuart Landon, “The Capitalization of Taxes in Bond Prices,” Research Paper Series No
20/2009, Economics and Econometrics Research Institute, Brussels, August 2009.
Stuart Landon and C.E. Smith, The Exchange Rate and Wages: How they Affect Capital
Investment, The Conference Board of Canada, October 2006.
“Sub-National Government Borrowing in Federal Systems: Evidence from Argentina and
Mexico,” in P. Boothe, ed., Fiscal Relations in Federal Countries: Four Essays (Ottawa:
The Forum of Federations), 2003, 53-68.
Research Reports
"The Impact of the Centralization of Revenues and Expenditures on Growth, Regional
Inequality and Inequality," (with B.G. Reid), prepared for the Institute of Intergovernmental
Relations, Queen's University, under a CIDA funded contract. Working Paper 2005(4),
Institute for Intergovernmental Relations, Queen’s University.
Stuart Landon, “Evaluation Paper: The Quality and Impact of the World Bank 1993 Public
Expenditure Reviews for India and Sri Lanka and the 1995 Public Sector Development
Program Review for Pakistan,” June 1997, World Bank, Washington, D.C., 135 pages.
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RESEARCH PRIZE
2006 John Vanderkamp Prize for the paper “Does Health-Care Spending Crowd Out Other
Provincial Government Expenditures” Canadian Public Policy, June 2006, 32:2, 121-41
(joint with Melville L. McMillan, Vijay Muralidharan and Mark Parsons).
PAPERS PRESENTED
Refereed Papers
“Riding the yield curve: A spanning analysis” presented by V. Galvani at the Midwest
Finance Association 2011 Annual Meeting Chicago, March 2011, and the Australasian
Finance and Banking Conference, Sydney, December 2010.
“Are Taxes Capitalized in Bond Prices Evidence from the Market for Government of
Canada Bonds,” Canadian Economics Association Annual Conference, Vancouver, June
2008.
“Taxation and Bond Market Investment Strategies: Evidence from the Market for
Government of Canada Bonds,” Canadian Economics Association Annual Conference,
Vancouver, June 2008.
“Investment in an Open Economy: Aggregate and Sector-Level Estimates” European
Economics Association Annual Congress, Vienna, August 2006.
“Investment in an Open Economy: Aggregate and Sector-Level Estimates” Canadian
Economics Association Annual Conference, Montreal, May 2006.
“Government Debt Spillovers in a Monetary Union” Canadian Economics Association
Annual Conference, Montreal, May 2006.
"Exchange Rates and Investment Good Prices: A Cross-Industry Comparison," European
Economics Association Annual Conference, Madrid, August 2004.
“Government Debt Spillovers and Creditworthiness in a Federation,” Conference on Fiscal
Competition and Federalism in Europe, Centre for European Economic Research (ZEW),
June 2-3, 1999, Mannheim, Germany.
“The Political Cost of Taxes and Government Spending,” Canadian Economics Association
Annual Meetings, Calgary, June 1994.
“Testing Aggregate Neutrality with Heterogeneous Sectors,” American Economics
Association Annual Meetings, New Orleans, January 1992.
“Exchange Rate Policy and Foreign Debt Default,” Canadian Economics Association
Annual Meetings, Queen’s University, June 1991.
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“Government Deficits and Money Growth”, Western Economics Association Annual
Conference, July 1987, Vancouver, B.C.
Invited Papers
“Energy Prices and Alberta Government Revenue Volatility,” CD Howe Institute, Toronto,
17 September 2010.
“Government Revenue Volatility in Alberta,” Conference: Boom and Bust Again, Institute
for Public Economics, University of Alberta, 7 May 2010
“The current economic contraction: Is it really that different from previous contractions”
EnCana Lecture Series, sponsored by University of Alberta Calgary Centre, Calgary,
Alberta, 13 July 2009.
“Are Taxes Capitalized in Bond Prices Evidence from the Market for Government of
Canada Bonds,” School of Economics and Finance, Victoria University of Wellington,
March 2008
"Minimum Wage Choice with Competition between Regions: Is there a 'Race for the
Bottom'" Presented at the Australian National University, the University of New South
Wales, the University of Adelaide, the University of Western Sydney, and the University of
Wollongong, February-March, 2001
“Spillover Effects of Government Debt in a Federation,” Department of Economics,
University of Calgary, March 1998.
“Efficiency and Government: Competing Hypotheses of Centralization and
Decentralization,” Conference of Western Economists on the Constitution, University of
Alberta, May 1991.
“Exchange Rate Intervention and Foreign Debt Default,” Australian National University,
August 1990.
“Cost-Sharing Versus Block-Funding: A Demand Systems Approach,” University of
Regina, March 1989.
Other Presentations
“Stabilization funds: A welfare-based comparison,” with C.E. Smith, Faculty and Graduate
Student Workshop, Department of Economics, University of Alberta, March 2011.
“What drives US state bond yields – fiscal policy or financial market risk” with V Galvani,
Faculty and Graduate Student Workshop, Department of Economics, University of Alberta,
November 2010.
Arts 100 presentation, 19 January 2010.
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Presentation about applying to graduate school to economics undergraduate students, 20
November 2009, November 2010.
Special presentations to the ECON 100 classes of Susan Kamp on an issue in economics
(October 2007, October 2009, March 2011).
“Overview of Current and Past Research,” Reserve Bank of New Zealand, March 2008
“Three Issues Related to Canadian Provincial Government Bond Returns,” Department of
Economics, University of Alberta, February 2005.
“Spillover Effects of Government Debt in a Federation,” Department of Economics,
University of Alberta, March 1998.
“Price, Quality and Reputation: Evidence from the Market for Bordeaux Wine,” Department
of Economics, University of Alberta, September 1994.
“Decentralization and the Control of Education Spending,” Department of Economics,
University of Alberta, April 1994.
“The Political Costs of Taxes and Government Spending,” Department of Economics,
University of Alberta, April 1993.
Conference Commentaries
Discussant at the Canadian Economics Association Annual Meetings, Calgary, June 1994;
Canadian Economics Association Annual Meetings, Queen’s University, June 1991;
Conference of Western Economists on the Constitution, University of Alberta, May 1991;
Canadian Macroeconomics Study Group, Banff, October 1987.
PROFESSIONAL ACTIVITIES
Referee for the Journal of Political Economy, Journal of Banking & Finance, Journal of
Applied Econometrics, Economic Journal, International Economic Review, Review of
Economics and Statistics, Journal of International Economics, Canadian Journal of
Economics, Oxford Economic Papers, Southern Economic Journal, Journal of
Macroeconomics, Public Finance Review, American Sociological Review, American Journal
of Agricultural Economics, Economics of Education Review, Education Economics,
Canadian Public Policy, Contemporary Economic Policy, Applied Economics, Agricultural
Economics, CD Howe Institute, Social Problems.
Advisor to AASUA on the Sponsors’ Working Group of the UAPP and the Academic
Supplementary Retirement Plan, 2010-
“Boom and bust Alberta needs stabilization fund,” with CE Smith, Edmonton Journal, 8
November 2010, p. A17.
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External referee on a non-University of Alberta tenure committee and a promotion
committee.
Editorial Board, Canadian Journal of Economics, July 1992 – June 1995.
SSHRCC Grant Application Referee
Book manuscript reviewer for McGraw-Hill Ryerson and Addison-Wesley.
Panel Member, Looking Toward 2000 Together: Response to the Government of Alberta
Document, Western Centre for Economic Research, University of Alberta, April 1992.
Roundtable Member, Integration of Social and Economic Policy, University of Alberta,
March 1992.
Roundtable Member, The Federal Constitutional Proposals, Western Centre for Economic
Research, University of Alberta, March 1992.
RESEARCH GRANTS
SSHRC (Initiative on the New Economy) and Conference Board of Canada (Canada Project
Research Initiative), $49100, 2005-06 (co-investigator with C.E. Smith).
University of Alberta, SSHRC 4A, $5000, 2005-06 (co-investigator with C.E. Smith).
University of Alberta, SSHRC 4A, $5000, 2003-04.
University of Alberta, SSHRC 4A, $5000, 2002-03.
Research Grant, Central Research Fund, University of Alberta, 1991-92.
Research Grant, Central Research Fund, University of Alberta, 1987-88.
Research Grant, Social Sciences and Humanities Research Council of Canada, $7410, 1986-
87.
Research Grant, Central Research Fund, University of Alberta, $2655, 1986-87.
Research Grant, Endowment Fund for the Future, University of Alberta, $1175, 1986.
TEACHING
Undergraduate Courses
Economics 485: Macroeconomic Policy
Economics 482: Advanced Macroeconomic Theory
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Economics 481: Advanced Microeconomic Theory
Economics 442: Economics of Financial Markets
Economics 399: Introductory Econometrics
Economics 386: Applications of Mathematics to Economics I
Economics 385: Intermediate Macroeconomic Theory II
Economics 384: Intermediate Microeconomic Theory II
Economics 383: Microeconomics for Canadian Business Management
Economics 350: The Economics of Public Expenditures
Economics 282: Intermediate Macroeconomic Theory I
Economics 281: Intermediate Microeconomic Theory I
Man Ec 301: Managerial Economics
Math for Economists (Australian National University)
Graduate Courses
Economics 591: Graduate Research Workshop I
Economics 582: Macroeconomic Theory II
Economics 512: Economic Development I
Economics 503: Microeconomic Theory I
Economics 900: Directed Research Project Course
Graduate Student Math Review
Diploma Macroeconomics (Australian National University)
Teaching Awards
University of Alberta, Rutherford Award for Excellence in Undergraduate Teaching 2010
Department of Economics Award for Outstanding Contributions to Undergraduate
Teaching, April 2009.
Graduate Supervision
PhD
Eight PhD theses as supervisor or co-supervisor, three as a committee member, five
complete.
MA
Supervisor of twelve non-thesis MA projects, committee member on one MA thesis, eleven
complete.
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PhD Comprehensive Exam Committees:
Macroeconomics (10 times)
Microeconomics (6 times)
Public Finance (4 times)
Development (Dept. of Rural Economy).
Graduate Examining Committees (not my own students)
Five PhD thesis defense exams and seven PhD candidacy exams.
Eighteen MA non-thesis oral defense exams and one MA thesis defense.
ADMINISTRATION
Faculty and University Committees
Faculty of Arts Research Committee, 2009-.
Faculty of Arts McCalla Committee, 2009-.
Faculty of Arts Honors Committee, 2010-.
Dean’s Advisory Selection Committee, Faculty Lecturer, Department of Sociology, 2010-11
Department of Economics Promotion Representative on Arts FEC, 2009.
Faculty of Arts, Dean’s Designate, Department of Art and Design, Advisory Selection
Committee, 2008-09.
Faculty of Arts Executive Committee, 2006-07.
Faculty of Arts, Dean’s Designate, Department of Psychology, Advisory Selection
Committee, 2006-07.
Faculty of Arts, Dean’s Designate, Department of History and Classics, Advisory Selection
Committee, 2006.
Faculty of Arts, Academic Appeals Committee, 2005.
Department of Economics Chair Selection Committee, 1999-2000, 2003-04
University of Alberta, General Faculties Council, 2001 - 04
University of Alberta Library, HSS Projects Committee, 2002, 2003
Faculty of Arts, Representative Council, 1998-99
University of Alberta, Task Force on Differential Fees, 1996-97
Faculty of Graduate Studies and Research Council, Department Representative, 1992-93
Department of Economics Committees and Service
Associate Chair (Undergraduate), Department of Economics, 2010-.
Peer Reviews of teaching by assistant professors in Economics (generally one each year)
Graduate Program Committee, 1991-92, 1992-93 (Chair), 1994-95, 1995-96, 1998, 2006-7,
2008-09, 2009-10
Chair, Ad Hoc Committee to Review Department Tenure and Promotion Standards, 2010
Chair, Ad Hoc Committee to Review the Department math requirements, 2010-11
Chair, Scholarships and Awards Committee, 2010-
Chair, Mentoring Committee, 2010-
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Graduate Appeals Committee, 2009
Selection Committee for Visiting Assistant Professor, 2010.
Hiring Committee, 1991-92, 1995-96, 1999-2000, 2001-2002, 2008-09
Chair, Undergraduate Advising Committee, 2005-07, 2010-
Chair, Undergraduate Curriculum Committee, 2002-4, 2010-
Chair, Ad Hoc Committee to Investigate a Merger with the School of Business, 2003-04
Committee to Review Program Quality and Resource Constraints, 2002-03
Undergraduate Curriculum Committee, 1991, 1998-99, 2001-2
Chair, Ad Hoc Committee to Review the Graduate Macroeconomics Program, 1988-89
Chair, Computing Services Committee 1987-88, 1988-89, 1989
Library Committee, 1991-92, 1998
Ad Hoc Undergraduate Enrollments and Program Committee, 1996-97
Visiting Speakers Committee, 1996-97
Associate Chair, Department of Economics, 1992-93
Computing Services Committee 1986-87
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