Ana María Herrera
Department of Economics
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Ana María Herrera

Wayne State University
Dept. of Economics
656 W. Kirby, 2095 FAB
Detroit, MI 48202

Office: 2095 Faculty/Administration Building
Phone: (313) 577-3343
amherrera@wayne.edu

 

C.V.

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Ana María Herrera

Department of Economics
Wayne State University
656 W Kirby, 2095 FAB Detroit, MI 48202

Office: 2095 Faculty/Administration Building
Phone: (313) 577-3343
amherrera@wayne.edu

Academic Positions Held

Wayne State University, Associate Professor (with tenure), August 2008 - present.
Michigan State University, Assistant Professor, August 2000 - July 2008.
Harvard University, Repsol YPF - Harvard Kennedy School Fellow, 2005-2006.
University of Virginia, Visiting Acting Assistant Professor, August 1999 - July 2000.
Universidad de los Andes Bogotá-Colombia, Lecturer, 1993-1994.

Academic Background

Ph.D. in Economics, University of California, San Diego, 2000.
M.A. in Economics, Universidad de los Andes, Bogotá, Colombia, 1994.
B.A. in Economics, Universidad de los Andes, Bogotá, Colombia, 1991.

Publications

Journal Articles

"Dynamic censored regression and the Open Market Desk reaction function" (with Robert de Jong), forthcoming, Journal of Business & Economic Statistics.(Full version)

"Why are Gasoline Prices Sticky? A Test of Alternative Models of Price Adjustment" (with Christopher Douglas), forthcoming, Journal of Applied Econometrics.

"Oil Price Shocks, Systematic Monetary Policy and the 'Great Moderation'" (with Elena Pesavento), Macroeconomic Dynamics, Vol.13, No.1, 107-137, February 2009.

"The Comovement between Inventory Investment and Sales: Higher and Higher" (with Irina Murtashazvili and Elena Pesavento), forthcoming Economics Letters, Vol.99, No.1, 155-158, April 2008.

"Informed Finance and Technological Change: Evidence from Credit Relationships" (with Raoul Minetti), Journal of Financial Economics, Vol.83, No.1, 223-269, January 2007.

"The Decline in U.S. Output Volatility: Structural Changes and Inventory Investment" (with Elena Pesavento). Previously circulated under the title "The Decline in US Output Volatility: Structural Change in Inventories or Sales?", Journal of Business & Economic Statistics, Vol.23, No.4, October 2005.

"Why So Small? Explaining the Size of Firms in Latin America" (with Eduardo Lora), The World Economy, Vol.28, No.7, July 2005.

"Oil Shocks and Aggregate Macroeconomic Behavior: The Role of Monetary Policy" (with James D. Hamilton), Journal of Money, Credit, and Banking, Vol.36, No.2, April 2004.

Work in Progress and/or Submitted

"Oil Price Shocks, Inventories and Macroeconomic Dynamics", under review.

"Credit Reallocation" (with Marek Kolar and Raoul Minetti), under review.

"Testing for the Cartel in OPEC: Noncooperative Collusion or Just Noncooperative?" (with Pedro Almoguera), previously circulated under the title "A Study of OPEC Cartel Stability", under review.

Bribery and the Nature of Corruption (with Lebohang Lijane and Peter Rodriguez)

Dynamic Pricing and Asymmetries in Retail Gasoline Markets: What Do They Tell Us About Price Stickiness? (with Christopher Douglas)

A Dynamic Model of Central Bank Intervention: Evidence from Turkey (with Pinar Özbay)

Predicting U.S. Recessions Using an Autoregressive Conditional Binomial Model

A Model of Inventories (with Elena Pesavento and Zheng Liu)

Oil Shocks, Real Wages, and the Capital Stock (with Robert J. Rossana)

Other Articles, Books and Book Chapters

"Tax Incidence in Colombia: A General Equilibrium Analysis" (with Eduardo Lora), in Fiscal Reform, Stabilization and Structural Adjustment in Developing Countries (Guillermo Perry, John Whalley and Gary McMahon, eds.), St. Martin's Press, New York, 2000, 18-50.

"Fiscal Reform, Stabilization and Structural Adjustment in Colombia" (with Guillermo Perry), in Fiscal Reform, Stabilization and Structural Adjustment in Developing Countries (Guillermo Perry, John Whalley and Gary McMahon, eds.), St. Martin's Press, New York, 2000, 51-91.

"Ingresos Rurales y Evolución Macroeconómica" (with Eduardo Lora), in Competitividad sin Pobreza: Estudios para el Desarrollo del Campo en Colombia, D.N.P.-World Bank, Bogotá, Colombia, 1994, 31-54.

Public Finance, Stabilization and Structural Reform in Latin America. Inter-American Development Bank, Washington, D.C., 1994, (with Guillermo Perry).

"Tax Incidence in Colombia: A General Equilibrium Analysis" (with Eduardo Lora) in Fiscal Reform, Stabilization and Structural Adjustment in Developing Countries (Guillermo Perry, John Whalley and Gary McMahon, eds.), St. Martin's Press, New York, 2000, 18 - 50.

Presentations at Academic and Policy Institutions

  • "Why are Gasoline Prices Sticky? A Test of Alternative Models of Price Adjustment": Harvard's John F. Kennedy School of Government, February 2006; Federal Reserve Bank of Atlanta, April 2007, Emory University, April 2007; North American Summer Meetings of the Econometric Society, June 2007; University of Michigan, September 2007.

  • "Oil Price Shocks and Macroeconomic Behavior: The Role of Inventories": Harvard's John F. Kennedy School of Government, October 2005; Central Bank of the Republic of Turkey, March 2006; Drexel University, April 2006.

  • "Oil Price Shocks, Systematic Monetary Policy and the 'Great Moderation'", Federal Reserve Bank of Dallas, April 2005; Central Bank of the Republic of Turkey, March 2006; EC2 Conference Econometrics of Monetary Policy and Financial Decision Making, December 2006.

  • "Dynamic Censored Regression Model and the Open Market Desk Reaction Function": Ohio State University, June 2004; Western Michigan University, March 2005); European University Institute, March 2006; EC2 Conference Econometrics of Monetary Policy and Financial Decision Making, December 2006.

  • "Dynamic Pricing and Asymmetries in Retail Gasoline Markets": Harvard's John F. Kennedy School of Government, February 2006.

  • "Predicting U.S. Recession with an Autoregressive Conditional Binomial Model": Federal Reserve Bank of St. Louis, September 2003; Purdue University, February 2004.

  • "The Decline in U.S. Output Volatility: Structural Changes and Inventory Investment": Wayne State University, March 2003; Université de Montréal, April 2003.

  • "Oil Shocks and Aggregate Economic Behavior: The Role of Monetary Policy": University of Kentucky, 2001; Indiana University, 2001; Federal Reserve Bank of Dallas, 2001; Emory University, 2001.

  • "Inventories, Oil Shocks and Macroeconomic Behavior": University of Virginia, 1999; Iowa State University, 1999; New York University, 1999; Federal Reserve Bank of New York, 1999; SUNY-Albany, 1999.

    Conferences

  • "Dynamic Pricing and Asymmetries in Retail Gasoline Markets: What Can They Tell Us About Price Stickiness?": International Industrial Organization Conference, April 2009.

  • "Why are Gasoline Prices Sticky? A Test of Alternative Models of Price Adjustment": Society for Nonlinear Dynamics and Econometrics, Paris, March 2007; Time Series Econometrics with Applications to Macroeconomics and Finance - St. Louis Fed, August 2007; Latin American Meetings of the Econometric Society, October 2007.

  • "Oil Price Shocks, Systematic Monetary Policy and the 'Great Moderation'": EC2 Conference - Econometrics of Monetary Policy and Financial Decision Making, Rotterdam, December 2006.

  • "Oil Price Shocks and Macroeconomic Behavior: The Role of Inventories": Southern Economics Association Meetings, Washington D.C., November 2005; Midwest Macroeconomics Meetings, St. Louis, May 2006; Canadian Economics Association Meetings, Montréal, May 2006; North American Summer Meetings of the Econometric Society, Minnesota, June 2006; Latin American Econometric Society Meeting, Mexico, November 2006; Second Forecasting Conference at Duke - Empirical Econometric Methods applied to Business Cycles and Forecasting: Comparisons between the U.S. and Europe, March 2007.

  • "Dynamic Censored Regression Model and the Open Market Desk Reaction Function": Western Economic Association Meetings, Vancouver, July 2004; Midwest Econometrics Group, Chicago, October 2004; American Economic Association, Philadelphia, January 2005, EC2 Conference - Econometrics of Monetary Policy and Financial Decision Making, Rotterdam, December 2006.

  • "The Decline in U.S. Output Volatility: Structural Changes and Inventory Investment": Canadian Economic Association Meetings, Calgary, July 2002; American Economic Association Meetings, San Diego, January 2004.

  • "Oil Shocks and Aggregate Economic Behavior: The Role of Monetary Policy": Australasian Econometric Society Meetings, Auckland, July 2001; Midwest Economic Association Meetings, Cleveland, October 2001; American Economic Association Meetings, Atlanta, January 2002.

  • "Obstacles to Business Development and the Size of the Firms in Latin America": Latin American and Caribbean Economics Association, Madrid, September 2002.

  • "Inventories, Oil Shocks and Macroeconomic Behavior": Western Economic Association Meetings, Vancouver, July 2000; Southern Economic Association Meetings, New Orleans, November 2000.

    Thesis Supervision (First position in italics)

    Dissertation Chair or Co-Chair

    Almoguera, Pedro - Federal Communications Commission
    Douglas, Christopher - University of Michigan at Flint
    Kolar, Marek - Delta College
    Lijane, Lebohang - The World Bank

    Dissertation Committee Member

    Corrigan, Paul - Bank of Canada
    Dong, Bei (Accounting) - University of South Florida
    Kim, Donggeoun
    Lee, Yen-Jung (Accounting) - Georgia State University
    Loudermilk, Margaret - University of Illinois at Chicago
    Lu, Jing-I - Yuan-Ze University
    Luca, Alina - Drexel University
    Murtazashvili, Irina - University of Pittsburgh
    Özbay, Pinar - Central Bank of Turkey
    Sepulveda, Facundo - Australian National University, RSSS
    Song, Jeongseok - Korean Economic Research Institute
    Talay, Mehmet Berk (Marketing)
    Wang, Li (Statistics) - University of Georgia

    Teaching Experience

    Graduate: Advanced Macroeconomics, Problems in Monetary Theory and Policy, Applied Econometrics.
    Undergraduate: Intermediate Macroeconomics, Honors Macroeconomics and Public Policy, Advanced Macroeconomics.

    Honors

    Repsol - YPF Harvard Kennedy School Fellowship, 2005-2006
    NSF Grant 0003840: "Inventories, Oil Shocks and Macroeconomic Dynamics", 1999-2001
    Central Bank of Colombia Scholarship, Bogotá, Colombia, 1994 - 1996
    Department of Economics Scholarship, Universidad de los Andes, Bogotá, Colombia, 1990 - 1991

    Professional Activities

    Journal Referee:American Economic Review, Journal of Business & Economic Statistics, Review of Economic Studies, Review of Economics and Statistics, Journal of the European Economic Association, Journal of Money Credit and Banking, Journal of Econometrics, Journal of Applied Econometrics, Economic Inquiry, Journal of Macroeconomics, Journal of Development Economics, Economic Development and Cultural Change, Review of Development Economics, The Energy Journal, Energy Economics, Journal of Empirical Finance, Empirical Economics, The Journal of Economic Education, International Tax and Public Finance.

    Advisory Board: Ensayos sobre Política Económica

    Consultant: Inter-American Development Bank, April-October, 1992; June-August, 2000; January-February, 2002.

    Researcher: Fedesarrollo, Bogotá, Colombia, 1992 - 1994.

    Memberships

    American Economic Association, Econometric Society, Latin American and Caribbean Economic Association.
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