George Waters

Professor
  • BIOGRAPHY
  • George Waters is an Professor of Economics whose primary research interests are in Macro/Monetary Economics, Game Theory, Time Series and Models of Learning. One area of his work uses an Evolutionary Game Theory approach to show how changes in forecasting strategies among traders in asset markets can explain many features of stock market bubbles. Another stand of research focuses on modeling credit markets and their relationship to the macroeconomy. Professor Waters' work appears in the Journal of Economic Dynamics and Control, the Journal of Mathematical Economics and Macroeconomic Dynamics. He has a wide range of teaching experience from elementary to graduate level including courses in mathematical economics, money and banking, graduate macroeconomics, and game theory at Washington and Lee University and Illinois State Univerity.
  • CURRENT COURSES
  • ECO 241.Sec 001 Intermediate Macroeconomic Theory
  • ECO 215.Sec 001 Money And Banking
  • ECO 215.Sec 002 Money And Banking
  • TEACHING INTERESTS
  • Macroeconomics, Money and Banking, Game Theory
  • RESEARCH INTERESTS
  • Macro/Monetary Economics, Game Theory, Models of Learning, Asset Pricing
  • Ph D Economics - 2002
  • University of North Carolina - Chapel Hill
  • Chapel Hill, NC
  • MS Mathematics - 1995
  • California State University - Easy Bay
  • Hayward, CA
  • BA Mathematics - 1988
  • Northwestern University
  • Evanston, IL
  • SELECTED PUBLICATIONS
  • “Quantity versus Price Rationing of Credit: An Empirical Test” International Journal of Financial Studies, 2013, 1, 45-53

  • “Quantity Rationing of Credit and the Phillip’s Curve” Journal of Macroeconomics, 2013, 13, 68-80

  • “On the Evolutionary Stability of Rational Expectations” with William R. Parke, Macroeconomic Dynamics, 2014, 18(7), 1581-1606

  • “Dangers of Commitment under Rational Expectations” Journal of Economics and Finance, 2011, 35(4), 371-381

  • “Instability in the Cobweb Model under the BNN Dynamic” Journal of Mathematical Economics, 2010, 46(2), 230-237

  •  “Chaos in the Cobweb Model with a New Learning Dynamic,” Journal of Economic Dynamics and Control, 2009, 33(6), 1201-1216

  •  “Equity Price Bubbles in the Middle Eastern and North African Financial Markets" with Mohammad R. Jahan-Parvar, Emerging Markets Review, 2010, 11(1), 39-48

  • ”Learning, Commitment and Monetary Policy,” Macroeconomic Dynamics, 13(4), 2009, 421-449

  • “Interest Rate Pass Through and Asymmetric Adjustment: Evidence from the Federal Funds Rate Operating Target Period” with James E. Payne Applied Economics, 40(11), 2008, 1355-1362

  • “Unit Root Testing for Bubbles: A Resurrection?” Economics Letters 101(3), 2008, 279-281

  • “An Evolutionary Game Theory Explanation of ARCH” with William R. Parke Journal of Economic Dynamics and Control 31(7), 2007, 2234-2262

  • “Have Equity REITs Experienced Periodically Collapsing Bubbles?” with James E. Payne Journal of Real Estate Finance and Economics 34(2), 2007, 207-224

  • “Regime Changes, Learning and Monetary Policy” Journal of Macroeconomics 29(2), 2007, 255-282

  • “REIT Markets and Rational Speculative Bubbles: An Empirical Investigation” with James E. Payne Applied Financial Economics 17(9), 2007, 747-753

  • “Dangers of Commitment: Monetary Policy with Adaptive Learning” Journal of Economics and Finance 30(1), 2006, 93-104

  • “REIT Markets: Periodically Collapsing Negative Bubbles?” with James E. Payne Applied Financial Economics Letters 1(2), 2005, 65-69

  • PRESENTATIONS