Senior Economist and Vice President
Federal Reserve Bank of Dallas

Degrees

• Ph.D. Economics, Rice University, Houston, Texas, 1984
• M.S. Mathematics, Bogazici University, Istanbul, Turkey, 1977
• B.S. Mathematics, Bogazici University, Istanbul, Turkey, 1975

Experience

• Federal Reserve Bank of Dallas, August 1989 to present
  • Senior economist and vice president, January 2003
  • Senior economist and assistant vice president, January 2001
  • Senior economist and research officer, January 1997
  • Senior economist and policy advisor, March 1993
  • Senior economist, August 1989
• Louisiana State University, August 1983 to May 1989
  • Assistant Professor of Economics

Publications

• "Where IT's @: Technology and the Economy," with Thomas J. Siems, Southwest Economy, Federal Reserve Bank of Dallas, January/February 2005.
   
• “Business Cycles and Energy Prices,” with Stephen Brown and John Thompson, in Encyclopedia of Energy, Vol 1, Cutler J. Cleveland, editor, Elsevier-Academic Press, March 2004.
   
• “The Effect of High Oil Prices on Today’s Texas Economy,” with Stephen Brown, Southwest Economy, September/October 2004.
   
• “Texas Economy Stalled by Recession,” with John Thompson, Southwest Economy, November/December 2002.
   
• “An Overview of Science and Cents: Exploring the Economics of Biotechnology,” with John Duca, Federal Reserve Bank of Dallas Economic and Financial Policy Review, vol. 1, no. 3, 2002.
   
• “Oil Price Shocks and the U.S. Economy: Where Does the Asymmetry Originate?” with Nathan Balke and Stephen Brown, The Energy Journal, Vol 23 (3), 2002.
   
• “The Economic Impact of Biotechnology,” with John Thompson and John Duca, Federal Reserve Bank of Dallas Southwest Economy, March/April 2002.
   
• "Energy Prices and Aggregate Economic Activity: An Interpretive Survey," with Stephen P. A. Brown Quarterly Review of Economics and Finance, Second Quarter 2002.
   
• The Border Economy (editor), Federal Reserve Bank of Dallas, June 2001.
   
• "Another Great Texas Boom," with Fiona Sigalla, Federal Reserve Bank of Dallas Southwest Economy, January/February 2001.
   
• "Evaluating the Eleventh District's Beige Book," with Nathan Balke, Federal Reserve Bank of Dallas Economic and Financial Review, Fourth Quarter 2000.
   
• "Gasoline and Crude Oil Prices: Why the Asymmetry?" Stephen P. A. Brown, Federal Reserve Bank of Dallas Economic and Financial Review, Third Quarter 2000.
   
• "Oil Prices and U.S. Aggregate Economic Activity: A Question of Neutrality," with Stephen P. A. Brown Federal Reserve Bank of Dallas Economic and Financial Review, Second Quarter 1999.
   
• "Texas Update and Outlook," with Lori Taylor, Stephen P. A. Brown and Fiona Sigalla, Federal Reserve Bank of Dallas Southwest Economy, Issue 1, 1999.
   
• "Crude Oil and Gasoline Prices: An Asymmetric Relationship?" with Stephen P. A. Brown and Nathan Balke, Federal Reserve Bank of Dallas Economic Review, First Quarter 1998.
   
• "The 1997 Texas Economy Beats Expectations," with Sheila Dolmas, Federal Reserve Bank of Dallas Southwest Economy, Issue 1, 1998.
   
• "The Texas Economy," with Sheila Dolmas, Federal Reserve Bank of Dallas Southwest Economy, Issue 1, 1997.
   
• "The Interest Rate Sensitivity of Texas Industry," with Lori L.Taylor, Federal Reserve Bank of Dallas Economic Review, Second Quarter 1996.
   
• "Reducing U.S. Vulnerability to Oil Supply Shocks: Reply," Southern Economic Journal, April 1996.
   
• "Energy Prices and State Economic Performance," with Stephen P. A. Brown, Federal Reserve Bank of Dallas Economic Review, Second Quarter 1995.
   
• "A Dynamic Comparison of Protectionist Policies," with Carol Dahl, Energy Policy, July 1995.
   
• "The Energy Industry: Past, Present and Future," with Stephen P. A. Brown, Federal Reserve Bank of Dallas Southwest Economy, Issue 4, 1995.
   
• "Reducing U.S. Vulnerability to Oil Supply Shocks," Southern Economic Journal, October 1994.
   
• "The Texas Construction Sector: The Tail That Wagged the Dog," with D'Ann Petersen and Keith Phillips Federal Reserve Bank of Dallas Economic Review, Second Quarter 1994.
   
• "Fuel Taxes and Cointegration of Energy Prices," with Shengyi Guo,Contemporary Economic Policy, July 1994.
   
• "Southwest Outlook Brighter in 1994," with others, Federal Reserve Bank of Dallas Southwest Economy, Issue 1, 1994.
   
• "America's Health Care Problem: An Economic Perspective," with Beverly J.Fox and Lori L. Taylor, Federal Reserve Bank of Dallas Economic Review, Third Quarter, 1993.
   
• "The Uneven Distribution of Health Insurance," with Lori L. Taylor and Beverly J. Fox, Federal Reserve Bank of Dallas Southwest Economy, May/June 1993.
   
• "The Pricing of Natural Gas in U.S. Markets," with Stephen P. A. Brown, Federal Reserve Bank of Dallas Economic Review, Second Quarter 1993.
   
• "Modeling Macroeconomic Impacts of Oil Protectionist Policies," with Carol Dahl.in International Issues in Energy Policy, Development and Economics James P. Dorian and Fereidun Fesharaki eds. (Westview Press) 1992.
   
• "Bad News From the Oil Patch: Why the Rig Count is Depressed," with Bill Gilmer, Federal Reserve Bank of Dallas Southwest Economy, July/August 1992.
   
• "A Closer Look at Natural Gas Prices," Federal Reserve Bank of Dallas Southwest Economy, November/December 1991.
   
• "Macroeconomic Impacts of an Oil Import Fee, A Gasoline Tax, and a Domestic Producer Subsidy," with Carol Dahl, Energy Developments in the 1990s: Challenges Facing Global/Pacific Markets, Proceedings of the Fourteenth Annual Conference of the International Association for Energy Economists, Vol.1, July 1991.
   
• "Methanol as an Alternative Fuel: Economic and Health Effects," Federal Reserve Bank of Dallas, Economic Review, May 1991.
   
• Testing Alternative Hypotheses of Oil Producer Behavior," with Carol Dahl, The Energy Journal, 12 (4), 1991.
   
• "The Rise and Fall of Oil Prices," with Paula Tucker, Federal Reserve Bank of Dallas Southwest Economy, March/April 1991.
   
• "Winners and Losers in Tax Reform," with Lori Taylor,Federal Reserve Bank of Dallas Southwest Economy, March/April 1991.
   
• "Southwest to Dodge Recession," with Keith Phillips et al., Federal Reserve Bank of Dallas Southwest Economy, January/February 1991.
   
• "A Dynamic Model of Natural Gas Deregulation," Energy Economics, 12 (1), 1990.
   
• "Oil Prices and the Economic Outlook," with Harvey Rosenblum et al., Federal Reserve Bank of Dallas Southwest Economy, November 1990.
   
• "Good News for OPEC?" with Carol Dahl, Oxford Energy Forum 1(3), November 1990.
   
• "Oil Prices and Drilling Show Strength," Federal Reserve Bank of Dallas Southwest Economy, September 1990.
   
• "Iraqi Tank Diplomacy: Long Run Optimization or Short Run Expediency?" with Carol Dahl, Louisiana Energy Indicators, Summer 1990.
   
• "Reducing Oil Import Dependence: A Tariff, Subsidy or Gasoline Tax," Federal Reserve Bank of Dallas Economic Review, May 1990.
   
• "Economic Outlook for the Southwest," with Stephen P. A. Brown et al., Federal Reserve Bank of Dallas Southwest Economy, March 1990.
   
• "Scarcity Rent Reconsidered: The Effects of Exploration" Resources and Energy, 1989.
   
• "Severance Taxes and Market Structure in an Exhaustible Resource Industry," Journal of Environmental Economics and Management, March 1989.
   
• Severance Tax Shifting," Resources and Energy, September 1988.
   
• "OPEC Market Behavior" in Competition, Profitability and Policy in the Energy Industries, Proceedings of the Tenth Annual North American Conference of the International Association for Energy Economics, Houston, Texas, October 1988.
   
• "A Revised Tax Code - Impact on Oil and Gas Producers and Consumers," Journal of Policy Modeling, Winter 1987.
   
• "Dynamic Analysis of Severance Taxation in a Competitive Exhaustible Resource Industry," Resources and Energy, September 1986.
   
• Book report on Taxing Energy: Oil Severance Taxes and the Economy, Southern Economic Journal.

Selected Professional Activities

• President, US Association of Energy Economics, 2004.
  
 
• President, Dallas Chapter of the National Association for Business Economics, 2004.
     
• Presented extensively at meetings including the Board of Directors of the Federal Reserve Bank of Dallas, American Economics Association, International Association for Energy Economics, Southern Economics Association, Western Economics Association and various public and civic groups.
   
• Member, Energy Task Force, sponsored by the Baker Institute for Public Policy at Rice University and Council on Foreign Relations.
   
• Executive Steering Committee Member, Women in Technology International, Dallas Chapter, 1998–2003.
   
• Council Member, United States Association for Energy Economics, 2000–2002.
   
• Treasurer, Dallas Economists Club, 2001.
   
• Program Co-Chair, 20th Annual Meeting of the United States Association for Energy Economics, Orlando, 1999.
   
• Secretary/Treasurer, United States Association for Energy Economics, 1998–99.
   
• Program Committee Member, International Association for Energy Economics, 1996.
   
• President, International Association for Energy Economics, D/FW Chapter, 1995.
   
• Program Committee Chairman, International Association for Energy Economics, D/FW Chapter, 1994.
   
• Career Development Program, Federal Reserve Bank of Dallas, 1992–95.

Other Education

• Leading Creatively, Center for Creative Leadership, 1996
• Leadership and Mastery, Innovation Associates, 1995
• Managing Managers and Professionals, Berkeley Center for Executive Development, 1995
• Leadership Development Program, Center for Creative Leadership, 1994
• Positive Power and Influence Program, Situation Management Systems, 1993

Professional Memberships

• International Association for Energy Economics
• American Economics Association
• Women in Technology International
• Dallas Economists' Club