ROGER W. SPENCER

OFFICE ADDRESS

Department of Economics
Trinity University
One Trinity Place
San Antonio, TX 78212-7200
Phone: (210) 999-7222
FAX: (210) 999-7255
E-mail: rspencer@trinity.edu

EDUCATIONAL BACKGROUND:

• B.S., Virginia Military Institute, 1961
• Ph.D., (Economics) University of Virginia, 1969

ACADEMIC:

• Professor, Department of Economics, Trinity University, 1985 - present
• Dean, Division of Business & Administrative Studies, Trinity University, 1980-1985
• George Washington University, Lecturer, 1978-1980
• Virginia Polytechnic Institute and State University at Reston, Lecturer, 1978-1980
• University of South Carolina, Visiting Professor of Economics, 1974
• Southern Illinois University at Edwardsville, 1971-1972 Adjunct Associate Professor, Economics Department
• Washington University, Lecturer, Graduate Business Department, 1975-1976
• University of Missouri at St. Louis, Instructor, 1969
• University of Virginia, Graduate Instructor, 1967-1968

OTHER EMPLOYMENT:

• Senior Research Coordinator, Securities and Exchange Commission, 1976-1980
• Senior Economist, Federal Reserve Bank of St. Louis, 1968-1976

PUBLICATIONS (Since 1980):

• "Channels of Monetary Influence: A Survey" in Havrilesky-Boorman, Current Issues in Monetary Theory and Policy, New York University, 1980.
• "The Regulatory Framework For Banks Securities Activities," in The Securities Activities of Commercial Banks, New York University, 1980.
• "Matrix Scaling of Subjective Probabilities of Economic Forecasts," Economics Letters, April, 1986 (with R. Jensen).
• Lives of the Laureates, Massachusetts Institute of Technology Press, 1986 (with W. Breit), editors.  Second volume, 1990.  Third volume, 1995.
• "Expectations and the Phillips Curve: An Ex-Ante Approach," Atlantic Economic Journal, July, 1986 (with D. Walz).
• "Experiential Learning in Economics," The Journal of Economic Education, Fall, 1986 (with D. Van Eynde).
• "Iacocca: An Autobiography," Business Economics, July, 1986, book review.
• "Psychological Risk Scales and the Precautionary Demand for Money," Journal of Economic Psychology, 8, 1987 (with J. Sciortino and J. Huston).
• "A Monthly Model of Bank Reserve Aggregates," Atlantic Economic Journal, September, 1987 (with M. Tindall).
• The Estimation of Forecast Bias: A Simultaneous Equations Approach," Journal of Macroeconomics, Spring, 1988 (with D. Walz).
• "Continental Illinois Bank and Structural Change in the Banking Industry," Midwestern Journal of Business and Economics, Winter, 1988 (with D. Walz).
• "Risk and Income Distribution, Journal of Economic Psychology, 9, 1988 (with J. Sciortino and J. Huston).
• "Lecture Versus Experiential Learning: Their Differential Effects on Long Term Memory,"Organizational Behavior Teaching Review, Issue 4, 1988 (with D. Van Eynde).
• "The Informational Content of Forward Rates: Further Evidence," Journal of Financial Research, Spring, 1989 (with D. Walz).
• The Interest Sensitivity of Commercial Bank Equity Returns: New Evidence," The Southern Business Review, Vol. No. 2, Fall, 1989 (with D. Walz).
• "A New Look at the Federal Reserve Reaction Function," Atlantic Economic Journal, March, 1990 (with D. Walz).
• "Forecasting Expected Money," Atlantic Economic Journal, June, 1992(with D. Walz).
• "Forecasting with the Term Structure of Interest Rates," Midwestern Journal of Business and Economics, Winter, 1992 (with D. Walz).
• "Rational Forecasts: On Confirming Ambiguity as the Mother of Conformity," Journal of Economic Psychology, December, 1993 (with J. Huston).
• "Competitive Inflation Forecasting," Journal of Business and Economic Perspectives, Fall, 1994 (with J. Huston).
• "Monetary Policy at Work: Lessons From the FOMC Transcripts," Journal of Economic Education, Fall, 1996.
• "FOMC Anti-Inflation Policy: A Quicker Trigger or Nothing New," Studies in Economics and Finance, Spring, 1997 (with J. Huston).
• "Build It and They Will Come: An Empirical Investigation," Midwestern Journal of Business and Economics, Winter, 1997 (with J. Huston).
• "Borrowed Reserves and Deposit Variation: The Risks to Monetary Policy," Atlantic Economic Journal, September, 1997 (with M. Tindall).
• "Monetary Lags: Changing or Constant?" Journal of Business and Economic Perspectives, Fall/Winter 1998 (with J. Huston).
• "The Information in the Mexican Term Structure of Interest Rates: Capital Market Imperfections," Journal of International Markets, Institutions, and Money, Vol. 9, 1999 (with J. Gonzalez and D. Walz).
• "Central Bank Reserve Management: Aggregate Targets and Interest Payments on Reserves," International Advances in Economic Research, May, 2000 (with M. Tindall).
• "The Term Structure of Interest Rates and the Mexican Economy," Contemporary Economic Policy, July 2000 (with J. Gonzalez and D. Walz).
• "A Road Less Traveled: The Institutionalist Walter Adams," Challenge, January-February 2001.
• "Quality, Uncertainty, and the Internet: The Market for Cyber Lemons," The American Economist, Spring 2002 (with J. Huston).
• "The 'Taylor Rule' and Three Monetary Regimes," Studies in Economics and Finance, Autumn, 2002 (with J. Huston).
• "A Contemporary Analysis of Mexican Stock Market Volatility," Applied Financial Economics, forthcoming (with J. Gonzalez and D. Walz).

August 2002