James Morley
 
I am an associate professor of economics at Washington University in St. Louis. I teach macroeconomics, finance, and econometrics to undergraduate and graduate students. My research involves using statistical analysis to gain insights into a number of empirical issues in economics, including the following:
   Are business cycle fluctuations symmetric? What are their sources and economic implications?
   What is the nature of structural change in macroeconomic relationships? Is it gradual or abrupt?
   Why has aggregate production become less volatile in recent years?
   Why are aggregate household expenditures much less volatile than overall aggregate production?
   What are the sources of persistent changes in the unemployment rate?
   How does stock market volatility affect expected returns in the stock market?
   Why are deviations from “the law of one price” so volatile and persistent across countries?
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                                                                                                                                                       Picture: New York City, USA