Economics Department

Faculty Research

The Department currently has seven permanent faculty members, having research and teaching interests that span a broad range of areas within micro- and macroeconomics. Special strengths in research are in the areas of Labor Economics, International Economics, Macroeconomics, Growth and Development, Health Economics, Environmental, and Energy Economics, Applied Game Theory, Econometrics, Public Finance, Urban Economics, Economics of Science, Industrial Organization, Organization Theory, and Computational Economics.

Recent Faculty Publications



  • Chang, Myong-Hun (2020) "Spatially Heterogeneous Vaccine Coverage and Externalities in a Computational Model of Epidemics," (co-authored with Troy Tassier), forthcoming in Computational Economics. (Published online at: https,//
  • Chang, Myong-Hun (2020) "A Dynamic Computational Model of Social Stigma" (with Joseph E. Harrington, Jr.), Journal of Artificial Societies and Social Simulation, 23:2. (Available online at
  • Isakin, Maksim, and Ngo, Phuong V. (2019). “Variance Decomposition Analysis for Nonlinear Economic Models,” forthcoming in Oxford Bulletin of Economics and Statistics.
  • Kosteas, Vasilios D. (2020). “Occupational Concentration and Outcomes for Displaced Workers,” forthcoming in Papers in Regional Science.
  • Yilmaz, Kuzey (2020). “States and School Finance,” forthcoming in Regional Science, Policy & Practice.



  • Isakin, Maksim, and Ngo, Phuong V. (2019). “Inflation Volatility with Regime Switching”, Oxford Bulletin of Economics and Statistics 81.
  • Isakin, Maksim (2019). “The Impact of Firm-level Political Risk on Creditor Control.” (co-authored with Xiaoling Pu), Journal of Fixed Income, 29.
  • Isakin, Maksim (2019). User Costs, the Financial Firm, and Monetary and Regulatory Policy (co-authored with Apostolos Serletis), Macroeconomic Dynamics, 1-29.
  • Isakin, Maksim (2019). “Banking Technology in a Markov Switching Economy,” (co-authored with Apostolos Serletis), Journal of Macroeconomics 59.
  • Ngo, Phuong V. (2019). “Fiscal Multipliers at the Zero Lower Bound, The Role of Government Spending Persistence,” Macroeconomic Dynamics, 1-28.
  • Yilmaz, Kuzey (2019). “The role of government in regentrification,” Papers in Regional Science, 98(1), 575-594.



  • Isakin, Maksim, “User Costs, the Financial Firm, and Monetary and Regulatory Policy,” with Apostolos Serletis, forthcoming in Macroeconomic Dynamics.
  • Vasilios D. Kosteas, “Out of Pocket Premiums, Plan and Overall Health Insurance Take up Rates”, with Francesco Renna, Applied Health Economics and Health Policy, Vol. 16 (2018), pp. 367-380.
  • Vasilios D. Kosteas, “Predicting Long-Run Citation Counts for Articles in Top Economics Journals,” Scientometrics, Vol 115 (2018): 1395-1412.
  • Vasilios D. Kosteas, “Decisions to Enter and Continue in the Teaching Profession,” with Michael Horvath and Joanne Goodell, Teaching and Teacher Education, Vol 71 (2018): 57-65.
  • Phuong Ngo, “Notes on Calvo and Rotemberg Price Adjustments at the ZLB,” with Jianjun Miao, forthcoming in Macroeconomic Dynamics.
  • Kuzey Yilmaz, “The Role of Government in Regentrification,” forthcoming in Papers in Regional Science, forthcoming.
  • Kuzey Yilmaz, “Quantity-Quality Trade-off of Children and School Finance,” Journal of Macroeconomics, 56 (2018): 188-203.



  • Maksim Isakin, “Stochastic Volatility Demand Systems,” with Apostolos Serletis, Econometric Reviews, Vol 36 (2017): 10.
  • Vasilios D. Kosteas, “Worker Training and Foreign Competition: Evidence from the US Manufacturing Sector,” The World Economy, Vol 40 (2017): 1089-1104.


  • Professor Kuzey Yilmaz will present his paper “Two worker Households, Decentralized Employment, and Residential Segregation” at the 2018 Northeast Ohio Economist Workshop hosted jointly by the Federal Reserve Bank of Cleveland and Cleveland State University Economics Department.
  • Professor Kuzey Yilmaz presented his paper “Decentralized School Finance and Metropolitan Suburbanization” at the 2017 North American Summer Meeting of the Econometric Society in Saint Louis.
  • Professor Vasilios D. Kosteas presented his paper “Determinants of Post-Displacement Reemployment Outcomes and Occupation Changes” at the November 2017 meetings of the Association for Public Policy Analysis and Management.
  • Professor Phuong Ngo presented his paper “Variance Decomposition Analysis for Nonlinear DSGE Models: An Application with the ZLB.” Co-authored with Maksim Isakin (Cleveland State University) at the 2018 North American Summer Meeting of the Econometric Society (NASMES 2018), in UC Davis, CA, USA.
  • Professor Phuong Ngo presented his paper “Stock Price Fluctuations and Productivity Growth.” Co-authored with Diego Comin (Dartmouth College), Mark Gertler (New York University and NBER), and Ana Maria Santacreu (the St. Louis Fed) at the Society for Economic Dynamics (SED) 2018 Annual Meeting, in Mexico City, Mexico


  • Vasilios D. Kosteas, "Journal Impact Factors and Month of Publication," forthcoming in Economics Letters.
  • Vasilios D. Kosteas, "Physical Activity and Time Preference," forthcoming in International Journal of Health Economics and Management.
  • Koksal, Aycan, “How Do Smoking Bans at the Restaurants Affect Restaurant and At Home Alcohol Consumption?” Empirical Economics, forthcoming.
  • Ngo, V. Phuong, “Household Leverage, Housing Markets, and Macroeconomic Fluctuations,” Journal of Macroeconomics, forthcoming.
  • Chang, Myong-Hun, “When Should We Expect a Corporate Leniency Program to Result in Fewer Cartels?,” (co-authored with Joseph E. Harrington, Jr.), Journal of Law and Economics, forthcoming.
  • Chang, Myong-Hun, "A Computational Model of Industry Dynamics," Advances in Experimental and Computable Economics Book Series, Routledge.
  • Chang, Myong-Hun, “Computational Industrial Economics: A Generative Approach to Dynamic Analysis in Industrial Organization,” Oxford Handbook of Computational Economics and Finance, S.-H. Chen, M. Kaboudan, and Y.-R. Du, editors, Oxford University Press, 2015
  • Chang, Myong-Hun, “Competition Policy,” The Palgrave Encyclopedia of Strategic Management, David J. Teece and Mie Augier, editors, Palgrave MacMillan, 2015


  • Ngo, V. Phuong, "Optimal Discretionary Monetary Policy in a Micro-Founded Model with a Zero Lower Bound on Nominal Interest Rate," Journal of Economic Dynamics and Control, Vol. 45 (2014), p. 44-65.
  • Ngo, V. Phuong, "Habit Formation in State-Dependent Pricing Models: Implications for the Dynamics of Output and Inflation," Economics Letters, Vol. 123 (2014), p. 336-340.
  • Kosteas, Vasilios D. “Health Insurance Cost and Premium Sharing,” (with Francesco Renna), Journal of Health Economics, 35 (2014), 179-188.


  • Chang, Myong-Hun,“Individual Learning and Social Learning: Endogenous Division of Cognitive Labor in a Population of Co-evolving Problem Solvers,” (co-authored with Joseph E. Harrington, Jr.), Administrative Sciences, 3 (2013), 53-75
  • Kosteas, Vasilios D. “Gender Role Attitudes, Labor Supply, and Human Capital Formation,” Industrial Relations, 52 (2013), 915-940.
  • Kosteas, Vasilios D. “The Effect of Exercise on Earnings: Evidence from the NLSY,” Journal of Labor Research, 33 (2012), 225-250.


  • Kosteas, Vasilios D. “The Effect of Exercise on Earnings: Evidence from the NLSY,” Journal of Labor Research, 33 (2012), 225-250.
  • Henry, Matthew, "The Market Effects of Patent Litigation," forthcoming in Technology and Investment.
  • Stein, Sheldon, "Nominal and Real Income in a Real Dollar Store," forthcoming in Journal for Economic Educators.
  • Chang, Myong-Hun, "Competition Policy," forthcoming in The Palgrave Encyclopedia of Strategic Management, edited by David J. Teece and Mie Augier, MacMillan.
  • Chang, Myong-Hun, "Review of Game Theory: A Nontechnical Introduction to the Analysis of Strategy by Roger A. McCain," forthcoming in Eastern Economic Journal.


  • Kosteas, Vasilios, "The Effect of Exercise on Earnings: Evidence from the NLSY," forthcoming in Journal of Labor Research.
  • Kosteas, Vasilios, "Job Satisfaction and Promotions,"Industrial Relations, 50 (2011), 174-194.
  • Kosteas, Vasilios, "High School Clubs Participation and Future Supervisory Status," British Journal of Industrial Relations, 49 (2011), s181-s206.
  • Chang, Myong-Hun, "Emergent Social Learning Networks in Organizations with Heterogeneous Agents," Advances in Complex Systems, 14 (2011), 169-199.
  • Chang, Myong-Hun, "Entry, Exit, and the Endogenous Market Structure in Technologically Turbulent Industries," Eastern Economic Journal, 37 (2011), 51-84 (Symposium issue on Agent-Based Computational Economics).
  • Chang, Myong-Hun, "Agent-Based Modeling and Computational Experiments in Industrial Organization: Growing Firms and Industries in silico," Eastern Economic Journal, 37 (2011), 28-34 (Symposium issue on Agent-Based Computational Economics).


  • Kosteas, Vasilios, "Employment Disruptions and Supervisors,"Industrial Relations, 49 (2010), 116-141.


  • Saha, Subhra, "Private Tutoring, School Education, and Government Policy," (with Bibhas Saha), Review of Market Integration, 1 (2009), 375-408.
  • Chang, Myong-Hun, "Modelling the Birth and Death of Cartels with an Application to Evaluating Competition Policy," (with Joseph E. Harrington, Jr.), Journal of the European Economic Association, 7 (2009), 1400-1435.
  • Chang, Myong-Hun, "Industry Dynamics with Knowledge-Based Competition: A Computational Study of Entry and Exit Patterns," Journal of Economic Interaction and Coordination, 4 (2009), 73-114.
  • Henry, Matthew D., "Patent Damages and Spatial Competition," (with John L. Turner), Journal of Industrial Economics, 58 (2010), 279-305.
  • Kosteas, Vasilios, "The Impact of Job Displacement on Employer Based Health Insurance Coverage," (with Francesco Renna), Journal of Labor Research, 30 (2009), 317-327.
  • Kosteas, Vasilios, "Job Level Changes and Wage Growth," International Journal of Manpower, 30 (2009), 269-284.


  • Chia, Yee Fei, "Maternal Labour Supply and Childhood Obesity in Canada: Evidence from the NLSCY," Canadian Journal of Economics, 41 (2008), 217-242.
  • Kosteas, Vasilios, "Trade Protection and Capital Imports in the Mexican Manufacturing Sector," World Development, 36 (2008), 2822-2837.
  • Kosteas, Vasilios, "Manufacturing Wages and Low-Wage Country Imports:  Evidence from the NLSY," Economica, 75 (2008), 259-279.
  • Kosteas, Vasilios, "Foreign Direct Investment and Productivity Spillovers:  A Quantile Analysis," International Economic Journal, 22 (2008), 25-41.


  • Chang, Myong-Hun, "Decentralization," in Stewart Clegg and James R. Bailey (Eds.), International Encyclopedia of Organization Studies, Volume 1 (2007), Sage Publications, 359-362.
  • Chang, Myong-Hun, "Innovators, Imitators, and the Evolving Architecture of Problem-Solving Networks," (with Joseph E. Harrington, Jr.) Organization Science, 18 (2007), 648-666.
  • Stein, Sheldon, "A Beginners Guide to the Solow Model," Journal of Economic Education, 38 (2007), 187-193.


  • Chang, Myong-Hun, "Agent-Based Models of Organizations," (with Joseph E. Harrington, Jr.) in:  Tesfatsion, Leigh and Kenneth L. Judd, eds., Handbook of Computational Economics II:  Agent-Based Computational Economics, North Holland (2006)
  • Harford, Jon, "Congestion, Pollution, and Benefit-to-Cost Ratios of US Public Transit Systems," forthcoming in Transportation Research Part D.
  • Kosteas, Vasilios, Entries in the Encyclopedia of World Poverty, Mehmet Odekon (Ed.), Sage Publications, 2006:
    • "Exploitation"
    • "Free Trade Agreement of the Americas"
    • "Minimum Wage"
    • "Wages"
    • "World Trade Organization"
  • Stewart, Douglas, "An Economic Theory of Patient Decision-Making," forthcoming in Journal of Bioethical Inquiry.


  • Chang, Myong-Hun, "Discovery and Diffusion of Knowledge in an Endogenous Social Networks," (with Joseph E. Harrington, Jr.) American Journal of Sociology, 110 (2005), 937-976.
  • Chang, Myong-Hun, "Co-Evolution of Firms and Consumers and the Implications for Market Dominance," (with Joseph E. Harrington, Jr.) Journal of Economic Dynamics and Control, 29 (2005), 245-276.
  • Stein, Sheldon and Vijay Mathur, "Do Amenities Matter for Attracting Knowledge Workers for Regional Economic Development," Papers in Regional Science, Volume 84, No. 2 (2005), 251-269.
  • Stein, Sheldon, "Sums and Products of Jointly Distributed Random Variables: A Simplified Approach," Journal of Statistics Education, Volume 13, No. 3 (2005).


  • Chang, Myong-Hun, "Organization of Innovation in a Multi-Unit Firm: Coordinating Adaptive Search on Multiple Rugged Landscapes," (with Joseph E. Harrington, Jr.) in William Barnett, Christophe Deissenberg, and Gustav Feichtinger, editors, Economic Complexity: Non-linear Dynamics, Multi-agent Economies, and Learning, International Symposia on Economic Theory and Econometrics, Volume 14 (2004), Elsevier, Amsterdam, 189-214.


  • Bell, Edward and Allan Taub, "Adult Consumption Ratios: An Alternative Approach," Journal of Forensic Economics, July 2003.
  • Chang, Myong-Hun, "Multi-Market Competition, Consumer Search, and the Organizational Structure of Multi-Unit Firms," (with Joseph E. Harrington, Jr.) Management Science, 49 (2003), 541-552