University of Southern California
USC Dana and David Dornsife College of Letters, Arts and Sciences
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About
Michael J P MagillProfessor of EconomicsCo-Director Contact Information E-mail: magill@usc.edu Phone: (213) 740-2104 Office: KAP 316B LINKS Curriculum Vitae Faculty Profile on Departmental Website Personal Website |
Education |
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 Ph.D. , Brown University, 1/1970
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B.A. , Cambridge University, 1/1964
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Academic Appointment, Affiliation, and Employment History |
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Tenure Track Appointments |
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Professor, University of Southern California, 1981-
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Associate Professor, University of Southern California, 1979-1981
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Associate Professor, Indiana University, 1976-1979
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Assistant Professor, Indiana University, 1968-1975
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Visiting and Temporary Appointments |
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Visiting Professor, Paris School of Economics, 05/2010-07/2010
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Visiting Professor, Swiss Finance Institute, University of Zurich, 07/2009-12/2009
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Visiting Professor, Cowles Foundation, Yale University, 08/2002-12/2002
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Visiting Professor, Cowles Foundation, Yale University, 08/2000-12/2000
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Visiting Professor, University of Paris II, 1990-2000
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Visiting Professor, Department of Economics, University of Bonn, 08/1994-12/1994
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Visiting Professor, CORE, Louvain La Neuve, Belgium, 08/1994-10/1994
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Visiting Professor, Department of Economics, University of Bonn, 08/1990-12/1990
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Visiting Professor, Institute of Economics, University of Copenhagen, 01/1990-03/1990
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Visiting Professor, University of Paris IX, Dauphine, Paris, 1986-1988
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Visiting Research Fellow, Laboratoire d'Ecomometrie de l'Ecole Polytechnique, 1985-1988
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Visiting Research Fellow, CEPREMAP, Paris, 1985-1986
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Visiting Professor, University of Paris II, 1985-1986
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Visiting Associate Professor, Stanford University, 1978-1979
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Visiting Associate Professor, Northwestern University, 1977-1978
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Milton Friedman Fellow, University of Chicago, 02/1977-07/1977
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Description of Research |
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Summary Statement of Research Interests |
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| Professor Magill does research on the economics of financial markets, monetary theory, economics of uncertainty, dynamic economics and theory of incomplete markets. Some of his most recent work explores the link between long-term economic fluctuations in the stock market and demographic cohort structure, showing that the baby boomers have been an important causal element in stock market fluctuations over the last twenty five years. His recent work on monetary theory has shown the importance of using interest rate policy for both long and short term bonds to influence agents expectations of inflation: announcements by the Fed of the future course of the short term interest rate is another way of influencing agents expectations of inflation. His theoretical model shows that an important role of monetary policy is to guide agents expectations of inflation which would otherwise be "indeterminate" and such indeterminacy is dangerous because inflationary expectations can become self-fulfilling. | |
Research Keywords |
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| theory of incomplete markets, dynamic economics, economics of uncertainty, monetary theory, economics of financial markets | |
Research Specialties |
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| Financial markets, economics of uncertainty, dynamic economics,general equilibrium with incomplete markets, monetary policy and the term structure of interest rates, deomography and the stock market | |
Multimedia Scholarship and Creative Works |
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Book, Incomplete Markets, Volume 1, Finite Horizon Economies, with Martine Quinzii, International Library of Critical Writings in Economics, 2008, Edward Elgar Publishing Company, 2009-2010
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Book, Incomplete Markets, Volume 2, Infinite Horizon Economies, with Martine Quinzii, International Library of Critical Writings in Economics, 2008, Edward Elgar Publishing Company, 2009-2010
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Honors and Awards |
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Fellow (or Equivalent) of National Society in Discipline, Fellow of Society for Advancement of Economic Theory, 2011-
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Fellow (or Equivalent) of National Society in Discipline, Fellow of Econometric Society, 2000-
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Earhart Foundation Fellowship, 1966
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National Association of Mutual Savings Banks Award, 1965
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Service to the Profession |
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Editorships and Editorial Boards |
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Associate Editor, Mathematics and Financial Economics, 2006-
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Associate Editor, Economic Theory, 1997-
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Associate Editor, Journal of Mathematical Economics, 1984-
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Associate Editor, Acta Applicandae Mathematica, 1982-
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Associate Editor, Journal of Mathematical Analysis & Applications, 1982-1995
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Professional Memberships |
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Society for Economic Theory, 1995-
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American Mathematical Society, 1980-
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American Academy of Political and Social Science, 1978-
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American Economic Association, 1977-
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Society for Economic Dynamics, 1977-
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Econometric Society, 1975-
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Society for Industrial and Applied Mathematics, 1982-1995
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