The fall 2011 Department of Economics alumni newsletter is now available electronically. This is meant to be a lighter version than our previous spring 2011 newsletter, and an experiment to see if e-mail delivery is as effective as a print copy by mail. Our plan is to send these out twice a year, with the spring issue somewhat larger. Suggestions and ideas for future content are appreciated.

View the newsletter at: http://www2.econ.iastate.edu/newsletter/fall-2011/

ISU Student Volunteer Services is hosting their annual Give Some Warmth drive. Share your warmth with someone in need and donate new or gently used mittens, scarves, and hats. Donations will be collected until Thursday, November 17. There are various drop boxes across campus including Beardshear Hall, Kildee Hall, Curtiss Hall, Parks Library, Memorial Union, and the Greek Affairs Office.

If you have any questions about Give Some Warmth, please contact Sara Kinderknecht at sarak10@iastate.edu. This event is sponsored by ISU Student Volunteer Services in conjunction with ISU Rotaract Club, The 10,000 Hours Show, VEISHEA Campus & Community Involvement Committee, and Government of Student Body.

A recent study by Brent Kreider (right) and former Iowa State researchers confirmed that the National School Lunch Program (NSLP) improves the health outcomes of children who reside in low-income households. The study of nearly 2,700 NSLP children (ages 6-17) found that the NSLP reduces the prevalence of food insecurity by 3.8 percent, poor general health by 29 percent, and the rate of obesity by at least 17 percent in its participants.

Read the full news article by Mike Ferlazzo, ISU News Service at: http://www.news.iastate.edu/news/2011/nov/NSLP.

"Are Recessions Good for Your Health? When Ruhm Meets GHH," with Hui He, University of Hawaii. Monday, November 14, 4:10 to 5:30 PM, 368A Heady Hall.

Hui He is a macroeconomist with strong research interest in labor economics, health economics and computational economics. Hui graduated from University of Minnesota and joined the faculty of economics at University of Hawaii in 2007. He is currently visiting University of Southern California for the fall semester. Hui has done research on understanding driving force behind college wage premium and college enrollment rate in the U.S. from a macroeconomic perspective; investigating why old people quit stock market; and what drives rising medical expenditures over the life cycle. His current research focuses on using dynamic general equilibrium framework to analyze different aspects of health care system in the U.S.

Abstract: This paper first documents several important business cycle properties of health status and health expenditures in US. We find that health expenditures are pro-cyclical while health status is counter-cyclical. We then develop a stochastic dynamic general equilibrium model with endogenous health accumulation. The model has four distinguished features: 1). Health enters into utility function; 2) Health enters into production function; 3). Both goods and time input are used to produce health stock; 4). Depreciation rate of health stock negatively depends on working hours. We calibrate the model to US economy. The results replicate the stylized facts of health status and medical expenditure over business cycles. We also investigate the relative importance of each feature in affecting the business cycle properties of health accumulation.

"Wind Power without Hot Air," with Junjie Zhang, University of California, San Diego. Friday, November 18, 3:40 pm - 5:00 pm, 368A Heady Hall.

Junjie Zhang is an assistant professor of environmental economics in the School of International Relations and Pacific Studies at University of California, San Diego. He completed his Ph.D. in Environmental and Resource Economics from Duke University in 2008. He also holds a M.S. and a B.S. in environmental engineering from Tsinghua University, and a B.A. in environmental economics and management from Renmin University of China. Professor Zhang's research centers on empirical issues in environmental and resource economics. His research topics cover climate change, water resources, and fisheries. He is particularly interested in an interdisciplinary approach that involves both social sciences and natural sciences to deal with environmental problems with policy relevance.Junjie Zhang, University of California, San Diego.

Abstract: The international carbon market, specifically the Clean Development Mechansim (CDM) created by the Kyoto Protocol, is an important contributor to the breathtaking growth of renewable energy in China. Ever since its debut, it has been at the center of the policy debate whether the CDM achieves real emission reductions or just generates ”hot air.” The goal of this paper is to investigate its effect on wind power investment and to simulate the counterfactual scenario without the carbon market. I develop a fully dynamic model that incorporates the strategic interactions of wind farms that are induced by agglomeration externalities. The empirical results suggest that only 22 percent of wind power projects would not have happened with the proceeds from carbon credits, which throws the additionality of the CDM into question. The results also imply that the development of wind power may not be dramatically slowed down by the expiration of the Kyoto Protocol.

The FTC's Bureau of Economics will expect to have job openings for junior and senior PhD economists in 2012. More information available at: http://www.ftc.gov/be/recruit/index.shtm

Contact Loren Smith, recruiting coordinator, with any questions at: lsmith@ftc.gov 

Below are brief descriptions of some recent GS-13 and GS-14 economist job openings at the IRS/Treasury Dept. in the field of transfer pricing. These openings were just posted on Oct. 31, 2011 for Laguna Niguel, CA, San Francisco, CA, Chicago, IL, New York NY, and Washington DC. These positions are open from now until Dec. 30 2011. The full descriptions of these positions as well as the details about how to apply can be found on the website www.USAJOBS.gov. A search for "transfer pricing" will pull up the specific job openings listed below. Although experience in the transfer pricing field is helpful to candidates applying for these positions, candidates without such work experience but with MBA degrees or with PhDs or Masters degrees in economics or finance or similar fields are encouraged to apply.

Senior Economist (GS-14) Job Announcement # 12AN1-LBX0002-0110-14

Agreement Program (APMA) under the Transfer Pricing Division of the IRS / U.S. Department of the Treasury. This position deals with issues involving economics, transfer pricing, and valuation.

Salary: $105,211.00 to $148,806.00 / Per Year

Open Period: Monday, October 31, 2011 to Friday, December 30, 2011

Who May Apply: U.S. CITIZENS, NO PRIOR FEDERAL EXPERIENCE IS REQUIRED.

Series & Grade: GS-0110-14/14

Position Information: Full-Time, - Permanent

---------------------------------------------------------------------------------------------

Economist (GS-13) Job Announcement # 12AN1-LBX0001-0110-13

Same as for GS-14 except for differences below.

Agency: Internal Revenue Service

Salary: $89,033.00 to $125,926.00 / Per Year

Open Period: Monday, October 31, 2011 to Friday, December 30, 2011

Who May Apply: U.S. CITIZENS, NO PRIOR FEDERAL EXPERIENCE IS REQUIRED.

Series & Grade: GS-0110-13/13

Position Information: Full-Time, - Permanent