CV

CURRICULUM VITAE December 2021

SHAWN NI

Personal Data

Address Contact

Department of Economics Office (573)-882-6878 (please do not leave message)

University of Missouri Fax (573)-882-2697

118 Professional Building email: nix@missouri.edu

Columbia, MO 65211

Education

Ph.D. (1991) Economics, University of Minnesota.

Doctoral Thesis: Two Models of Asset Pricing--Explaining the Yield Differential Anomaly. (Advisor: Christopher A. Sims)

B.S. (1985) M.I.S., School of Economics and Management, Tsinghua University, China.

Academic Appointments

Professor of Economics, University of Missouri, 2004-present.

Middlebush Professor of Economics, University of Missouri, 2019-present.

Faculty and Research Affiliate, National Center on Performance Incentives at Vanderbilt University, 2008-present.

Adjunct Professor of Statistics, University of Missouri, 2004-present.

Chair, Department of Economics, University of Missouri, 2015-2019.

Middlebush Professor of Economics, University of Missouri, 2008-2014.

Associate Professor of Economics, University of Missouri, 1997-2004.

Assistant Professor of Economics, University of Missouri, 1990-1997.

Refereed Publications

  • How Much Are Public School Teachers Willing to Pay for Their Retirement Benefits? Comment (with M. Podgursky and F. Wang), American Economic Journal-Economic Policy, forthcoming.

  • Has Consumption Inequality Mirrored Income Inequality: New Evidence from a Korean Household Panel (with S. Kwon), Applied Economics Letters, forthcoming.

  • Teacher Pension Enhancements and Staffing in an Urban School District (with M. Podgursky and X. Wang), Journal of Pension Economics and Finance, forthcoming.

  • A Structural Econometric Approach to Analyzing the Impact of Teacher Pension Reform (with W. Kong), Educational Researcher, forthcoming.

  • Teacher Pension Plan Incentives, Retirement Decisions, and Workforce Quality (with M. Podgursky and X. Wang), Journal of Human Resources, 2022 vol. 57, no. 1, 272-303.

  • Pensions and Late Career Teacher Retention (with D. Kim, W. Kong, C. Koedel, M. Podgursky, and W. Wu), Education Finance and Policy, Winter 2021, vol. 16, 42–65.

  • Intrinsic Bayesian Estimation of Linear Time Series Models (with D. Sun), Statistical Theory and Related Fields, 2020, Apr, 1-13.

  • Labor Market Frictions and Production Efficiency in Public Schools (with D. Kim, C. Koedel, and M. Podgursky), Economics of Education Review, vol. 60, 2017, 54-67.

  • Pension Rules and Teachers’ Retirement Behaviors: Estimation of a Structural Model, (with M. Podgursky), Journal of Labor Economics, 2016, vol. 34, 1075-1104.

  • Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans, (with B. Ben, D. Goldhaber, C. Grout, C. Koedel, M Podgursky, B. Xiang and Z. Xu), Educational Researcher, 2016, vol. 45, 367-377.

  • Why Doesn't the Hong Kong Government Sell More Public Land? (with S. Aura and K. Cheung), Frontier Economics in China, 2016, vol. 11, 367-389.

  • New Evidence on Excess Sensitivity of Household Consumption, (with Y. Seol), Journal of Monetary Economics, 2014, vol. 63, 80-94.

  • Who Benefits from Pension Enhancements? (with C. Koedel and M. Podgursky), Education Finance and Policy, 2014, vol.9 165-192.

  • A Bayesian Analysis of Normalized VAR Models, (with D. Sun), Journal of Multivariate Analysis, 2014, vol.124, 247-259.

  • Bayesian Testing of Restrictions on Vector Autoregressive Models, (with D. Sun), Journal of Statistical Planning and Inference, 2012, vol. 142, 3008-3022.

  • Long-Term Oil Price Forecasts: A New Perspective on Oil and the Macroeconomy, (with I. Miller), Macroeconomic Dynamics, 2011, vol. 15 (S3), 396-415.

  • Selection of Multivariate Stochastic Volatility Models via Bayesian Stochastic Search, (with A. Loddo and D. Sun), Journal of Business and Economic Statistics, 2011, vol. 29, 342-355.

  • A Bayesian Estimation of Estate-Specific Price to Rent Ratio of Shanghai and Shenzhen, (with J. Chen), International Real Estate Review, 2011, vol. 14, 208-239.

  • Heterogeneous Investor Information and the Timing of Investment under Uncertainty, (with R. Ratti), Economics-ejournal, November, 2009.

  • Bayesian Stochastic Search for Restricted VAR Models, (with E. George and D. Sun), Journal of Econometrics, 2008, vol. 142, 553-580.

  • Intrinsic Bayesian Estimation of VAR Impulse Responses, (with D. Sun and X. Sun), Journal of Business and Economic Statistics, 2007, vol. 25, 163-176.

  • High Corruption Income in Ming and Qing China, (with V. Pham), Journal of Development Economics, 2006, vol. 81, 316-336.

  • Bayesian Estimators for Vector-Autoregressive Models, (with D. Sun), Journal of Business and Economic Statistics, 2005, vol. 23, 105-117.

  • Price Uncertainty and Consumer Welfare in an Intertemporal Setting, (with N. Raymon), Journal of Economic Dynamics and Control, 2004, vol. 28, 1877-1901.

  • Bayesian Analysis of VAR Models with Noninformative Priors (with D. Sun), Journal of Statistical Planning and Inference, 2004, vol. 121, 291-309.

  • Noninformative Priors and Frequentist Risks of Bayesian Estimators of VAR Models, Journal of Econometrics, (with D. Sun), 2003, vol. 115, 159-197.

  • Consumption, Housing Rents, and Housing Price: A Test of a Real Estate Pricing Model Using Hong Kong Data, (with F. Cheung and A. Siu), Pacific Economic Review, 2003, vol.8, 31-45.

  • On the Dynamic Effects of Oil Price Shocks-A Study Using Industry Level Data, (with K. Lee), Journal of Monetary Economics, 2002, vol. 49, 823-852.

  • An Empirical Analysis on Government Capital Controls and International Capital Flows in Korea, (with J. Chung), Applied Economics Letters, 2002, 919-923.

  • National Debt, Savings, and Real Interest Rates in a Neoclassical Growth Model, Canadian Journal of Economics, November 1999, 1227-44.

  • Monetary Policy and Asymmetric Response in Default Risk, (with J. Kim and R. Ratti), Economics Letters, July 1998, 83-90.

  • Estimating the Effects of Temporary and Persistent Components of Government Purchases, (with K. Lee), Journal of Macroeconomics, Fall 1997, 717-730.

  • Scaling Factors in Estimation of Time-Nonseparable Utility Functions, Review of Economics and Statistics, May 1997, 234-240.

  • Stock Returns, Real Activities, and Temporary and Persistent Inflation, (with K. Lee), Applied Financial Economics, December 1996, 433-441.

  • A Model of Structural Breaks in Economic Growth, (with X. Wang), Structural Change and Economic Dynamics, 1996, vol. 7, 223-241.

  • An Empirical Analysis of the Substitutability between Private Consumption and Government Purchases, Journal of Monetary Economics, 1995, vol. 36, 593-605.

  • Oil and Macroeconomy-the Role of Price Variability, (with K. Lee and R. Ratti), The Energy Journal, 1995, vol. 16, 39-56.

  • Balanced Government Budgets versus Deficit Finance in a Growth Economy, (with X. Wang), Canadian Journal of Economics, 1995, vol. 28, 1120-1134.

  • Inflation Uncertainty and Real Economic Activities, (with K. Lee), Applied Economics Letters November 1995, 460-462.

  • Systematic Risk over Various Frequency Bands: An Empirical Analysis of Returns on Size-Ranked Portfolio Returns, (with K. Lee), Economics Letters, 1995, vol. 49, 77-83.

  • Costly Structural Changes and Optimal Growth, (with X. Wang), Economic Theory, 1995, vol. 6, 305-322.

  • Human Capital and Income Taxation in an Endogenous Growth Model, (with X. Wang) Journal of Macroeconomics, 1994, vol. 16, 493-507.

  • Habit Formation as a Resolution to the Equity Premium Puzzle, What Is In the data, What Is Not, Southern Economic Journal, 1993, vol. 59, 749-759.

Conference Proceedings and Working Papers

  • Teacher Pension Enhancements and Staffing in an Urban School District (with M. Podgursky, and X. Wang), 2020, CALDER Working Paper No. 240-0620.

  • Teacher Pension Plan Incentives, Retirement Decisions, and Workforce Quality (with M. Podgursky, and X. Wang), 2018, CALDER Working Paper No. 200-0718-1.

  • Pension Enhancements and Teacher Retirement (with W. Kong, M. Podgursky, and W. Wu), 2018, CALDER Working Paper No. 195-0618-1.

  • Pensions and Late Career Teacher Retention (with D. Kim et. al), (2017), CALDER Working Paper No. 164.

  • Benefit or Burden? On the Intergenerational Inequity of Teacher Pension Plans (with B. Backes et. al), (2016), CALDER Working Paper No. 148.

  • How Teachers Respond to Pension System Incentives: New Estimates and Policy Applications (with M. Podgursky), (2015), CALDER Working Paper No. 147.

  • Bayesian Multivariate Estimate of Global Temperature Trends (with D. Sun and P. Speckman) Proceedings of the 2013 meeting of the American Statistical Association, section on nonparametric analysis.

  • Will Structural Flaws in Public Pension Plans Serve as an Impetus for Centralization? (with C. Koedel and M. Podgursky), in The Global Debt Crisis: Haunting U.S. and European Federalism, Brookings, 2013.

  • Who Benefits from Pension Enhancements? (with C. Koedel and M. Podgursky), (2012), CALDER Working Paper No. 76.

  • Pension-Induced Rigidities in the Labor Market for School Leaders (with C. Koedel, J. Grissom, and M. Podgursky), (2012), CALDER Working Paper No. 67.

  • “Bayesian Estimation and Hypothesis Testing of AR Models under a Reference Prior,” (with D. Sun) Proceedings of the 2010 meeting of the American Statistical Association, section on Bayesian statistical science.

  • “Estimating a Dynamic Discrete Choice Model on Teachers' Retirement Decision” (with M. Podgursky) Proceedings of the 2010 meeting of the American Statistical Association, section on business and economic statistics.

  • “Bayesian Vector Smoothing Spline,” (with D. Sun) Proceedings of the 2009 meeting of the American Statistical Association.

  • “Estimating Dynamic Panel Data Models with Measurement Errors with an Application to School Evaluation based on Student Test Scores,” (with J. Chen and M. Podgursky) Proceedings of the 2008 meeting of the American Statistical Association.

  • "Reference Priors for AR(2) Models," (with D. Sun), Proceedings of the 2007 meeting of the American Statistical Association, section on Bayesian statistical science.

  • "Non-informative Prior for Multivariate State Space Models," (with D. Sun), Proceedings of the 2006 meeting of the American Statistical Association, section on Bayesian statistical science.

  • "Bayesian Stochastic Search for Multivariate Models with Stochastic Volatilities," (with D. Sun), Proceedings of the 2005 meeting of the American Statistical Association, section on Bayesian statistical science.

  • "Bayesian Stochastic Search for Restricted VAR Models," (with E. George and D. Sun), Proceedings of the 2004 meeting of the American Statistical Association, section on Bayesian statistical science.

  • "Bayesian Analysis of Identified VAR Models" (with D. Sun), Proceedings of the 2003 meeting of the American Statistical Association, section on Bayesian statistical science.

  • "Bayesian Analysis for Vector-Autoregressive Models with Non-informative Priors" (with D. Sun), Proceedings of the 2001 meetings of the American Statistical Association, section on Bayesian statistical science.

Graduate Student Supervision

Chaired 25 PhD committees and 32 MA committees. Served as a member on more than 80 PhD Committees and 30 MA committees.


Research Grants

  • University of Missouri Summer Research Fellowship, Summer 1994, on "Estimating the Substitutability Between Private Consumption and Government Purchases".

  • Financial Research Institute Research Grant, Summer 1994, on "Stock Returns, Real Activities, and Temporary and Persistent Inflation".

  • University of Missouri Research Board Grant (primary investigator), Summer 1996, on "An Analysis on Impacts of Oil Price and Monetary Policy Shocks" (with K. Lee).

  • Financial Research Institute Research Grant, Summer 1997, on "Economic Analysis on the Effect of Competition in the Electric Utility industry".

  • University of Missouri Research Board Grant, Summer 1999, on "A Test of Consumption Based Asset Pricing Model Using Hong Kong's Housing Market Data."

  • University of Missouri Research Board Grant, (co-investigator), Summer 2002, on "Bayesian VAR" (with D. Sun).

  • Albert Winemiller Prize, 2003, for Development of New Statistical Methodology in an Applied Setting, on “Bayesian Analysis for Identified Normalized VAR Models,” (with D. Sun).

  • MU Research Council Grant, 2003-2004, on “VAR Model Selection via Stochastic Search”.

  • Hong Kong Research Council Earmarked Grant, 2003-2005, (co-investigator) on “Government Land Sale and Housing Market” (with K. Cheung).

  • MU Research Council Grant, 2004-2006, on “Government Land Sale, Housing Price, and Business Cycles.”

  • MU EPARC grant 2007-2008, on “Estimating Value-Added Models in the presence of Measurement Errors.”

  • Showme Institute grant 2008-2009, on “Analysis of Government Fiscal Policy and Economic Growth.”

  • Center for Longitudinal Data in Education Research, 2008-2009, (co-investigator) on “Estimating Dynamic Panel Data Models with Applications to Evaluation on Student Achievement,” (with C. Koedel and M. Podgursky).

  • Center for Analysis of Longitudinal Data in Education Research (CALDER) 2009-2010 (co-investigator) on “Retiring Productive Human Capital: Estimating the Effect of Teacher Retirement Benefit System Incentives on Workforce and Student Achievement,” (with C. Koedel and M. Podgursky).

  • Institute on Education Sciences, 2009-2011, (co-investigator) on “Value Added Models for Longitudinal Data of Student Test Scores,” (with C. Koedel and M. Podgursky).

  • Center for Analysis of Longitudinal Data in Education Research (CALDER) 2012-2013 (co-investigator) on “Estimating the Effect of Teacher Retirement Benefit System Incentives on Workforce and Student Achievement,” (with C. Koedel and M. Podgursky).

  • Laura and John Arnold Foundation 2014-2015 (co-investigator) “Teachers’ Pension Research” (with C. Koedel and M. Podgursky).

  • Center for Analysis of Longitudinal Data in Education Research (CALDER) 2017-2018 (co-investigator) on “Teacher Retirement Benefit Incentives,” (with C. Koedel and M. Podgursky).

  • Laura and John Arnold Foundation 2017-2019 (co-PI) on “Pension and Teacher Retirement Behavior” (with M. Podgursky).

  • Charles Koch Foundation 2020-21 (co-PI) on “Analysis of the Fiscal and Staffing Consequences of Teacher Pension Reform in Illinois Using Structural Models” (with M. Podgursky).