Faculty Profile: Alan G. Isaac

	Alan G. Isaac Ph.D., University of California at Davis
	Professor of Economics Department of Economics American University

Research Interests

I am particularly interested in agent-based simulation, with an emphasis on macrodynamics. My current research concentrates on the intergenerational transmission of wealth inequality and the growth effects of open innovation. I also have long standing interests in growth theory, with an emphasis on Post Keynesian models of the distributional effects of macroeconomic policy (especially monetary policy). Eventually I hope to integrate these considerations into a broader agent-based framework. I have a few related interests that still consume some of my research effort: international finance (with an emphasis on exchange rates), and decision theory (with an emphasis on consumer behavior).

Selected Research

Additional research can by found on my CV and my list of working papers.

“Modern Value Chains and the Organization of Agrarian Production”, with Heath Henderson, American Journal of Agricultural Economics*, January 2017. Abstract

“The Intergenerational Propagation of Wealth Inequality”, Metroeconomics 65(4), November 2014, pp. 571–584. Abstract.

“Consumer and Corporate Debt: A Neo-Kaleckian Synthesis”, with Yun Kim, Metroeconomics 64(2), May 2013, pp. 244-271. Abstract.

“The ABM Template Models: A Reformulation with Reference Implementations”, Journal of Artificial Societies and Social Simulation 14(2), 2011.

“Monetary and Fiscal Interactions: Short-Run and Long-Run Implications”, Metroeconomics 60(1), 2009.

“Open Development: Is the 'Open Source' Analogy Relevant to Biotechnology?” with Walter Park, in David Castle and Richard Gold (eds.), The Role of Intellectual Property Rights in Biotechnology Innovation, Edward Elgar Press, 2009, ch. 10, pp. 225-251.

“Inheriting Inequality: Institutional Influences on the Distribution of Wealth”, Journal of Post Keynesian Economics 30(2), Winter 2007-8.

“Varieties of Fiscal Stimulus,” chapter 12 in Per Berglund and Matias Vernengo (eds) The Means to Prosperity: Fiscal Policy Reconsidered (Routledge: 2006) ISBN: 0415701562

“On Intellectual Property Rights: Patents vs. Free and Open Development” with Walter G. Park, chapter 18 of the The Elgar Companion to the Economics of Property Rights, 2004, pp. 383-413 (editor: Enrico Colombatto).

The Behavioral Life-Cycle Theory of Consumer Behavior: Survey Evidence, with Fred Graham, Journal of Economic Behavior and Organization 48(4), August 2002, pp.391–401.

The Real-Interest-Differential Model after Twenty Years, with Suresh de Mel, Journal of International Money and Finance 20(4), August 2001, pp.473–95.

Review of: Exchange Rate Parity for Trade and Development: Theory, Tests, and Case Studies, Review of Radical Political Economy 32(3), Sept. 2000, 523-527.

Risk Premia and Overshooting, Economics Letters 61(3), December 1998, 359--64.

Morality, Maximization, and Economic Behavior, Southern Economic Journal, January 1997.

Monotonic Saddle-Path Dynamics, Economics Letters 53, 1996, 235-8.

Firm Heterogeneity and Worker Turnover, with Julia I. Lane and David W. Stevens, Review of Industrial Organization 11, 1996, 275--291.

Monetary Policy, Elasticity Dynamics, and Real Exchange Rate Reversal, Journal of Money Credit and Banking, 1995.

Hysteresis, in Philip Arestis and Malcolm Sawyer (eds.), The Elgar Companion to Radical Political Economy (London: Edward Elgar, 1994).

Fiscal Policy and the Natural Rate, in A. Dutt (ed), New Directions in Analytical Political Economy (London: Edward Elgar, 1994).

Money Supply Endogeneity in a Conflicting Claims Environment, Journal of Post Keynesian Economics, 1991.

Resources For Students

Student Contact: IRW Office Hours; Virtual Office Hours; Send email to aisaac AT american DOT edu.

Recent Syllabi (and notes): Econ-311, Econ-372, Econ-501, Econ-505, Econ-672, Econ-672, Econ-705 (805), Econ-712, Econ-713, Econ-796. 19.784.

Other Resources: Software for Economists (TM) In addition, students may find the following items to be useful.

A LaTeX thesis class for dissertating students.
My guidelines for letters of recommendation.
Some of my past exams.
Some suggestions concerning graduate study.
My guidelines for dissertation guidance.
My suggestions on writing a dissertation.
A suggested format for your vita.
My test-taking advice.
More test-taking advice.
My programming advice.
On a different note, I offer some personal reflections:
- Children and the Media.
- The War on Drugs
- The Intelligent Design "Debate": A Synopsis.