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Douglas Campbell joins NES faculty in 2014-2015 academic year

Professor Ozgur Evren: Douglas Campbell will be a valuable asset for NES with his expertise in international trade and economic history.

Douglas Campbell is now finishing his Ph.D. at UC Davis that is ranked 3rd in the world in International Trade, and ranked 9th in Economic History (or 6th). 

His current research agenda is focused on understanding the multifarious impacts of three key recent events in International Economics: (1) the rise of China, (2) Bretton Woods II, and (3) the Great Reserve Accumulation, using methodology familiar to applied microeconomists. In his job market paper, "Relative Prices, Hysteresis, and the Decline of American Manufacturing," Douglas uses variation in openness across disaggregated manufacturing sectors and variation in relative prices over time to identify the impact of real exchange rate movements on manufacturing employment. Using a new measure of relative unit labor costs introduced in a companion paper (which reflects rising trade with developing countries including China), he finds that high US relative unit labor costs in the early 2000s can explain much of the collapse in manufacturing employment over this period, and that temporary movements in relative prices have persistent effects. Douglas also recently published research showing that currency union membership has not historically led to increased bilateral trade flows.

In 2011, he served as a Staff Economist on President Obama's Council of Economic Advisers, and has also worked in the political realm targeting elections.

In future research, Douglas plans to continue researching the impact of real exchange rate movements on economic outcomes, including on local labor markets. He also plans to model the Macroeconomic impacts of relative price movements and trading-partner capital controls that have hysteretic effects on the economy in and out of a liquidity trap, and to document systematic central bank passiveness at the zero lower bound during the Great Depression and today. 

Personal web page of Douglas Campbell: //

His page at UC Davis: //

His CV: //

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