Economics & Finance

Rik W. Hafer

Distinguished Research Professor and Chair

Member of the Faculty Since: 1989

Ph.D., Virginia Polytechnic Institute and State University, 1979
M.A., Virginia Polytechnic Institute and State University, 1977
B.A., University of Nebraska-Lincoln, 1975

• Office: Alumni Hall-3136
• Office Phone: (618) 650-2747
• Fax: (618) 650-3047
• Email: rhafer@siue.edu
  

Recent Publications:

• "Dynamic IS Curves With and Without Money: An International Comparison," (with Garett Jones) Journal of International Money and Finance, 2008.
• "On Money and Output: Is Money Redundant?" (with Joseph H. Haslag and Garett Jones) Journal of Monetary Economics, 2007.
• "Bank Failures in Bank Panics: Risky Banks or Roadkill?" (with Gerald P. Dwyer), Jr., in Hanson and Hunter, eds., Bank and Financial Market Efficiency: Global Perspectives, IAI Press, 2004.
• "Darryl Francis and the Making of Monetary Policy, 1966-1975," (with David C. Wheelock), Federal Reserve Bank of St. Louis Review, March/April 2003 .
• "Do Entry Level Math Skills Predict Success in Principles of Economics?" 2002, in Journal of Economics and Economic Education Research, (with Gail Heyne Hafer).
• "Financial Innovation and the Demand for Money: Evidence From the Philippines," (with Ali M. Kutan) International Economic Journal, Spring, 2003.
• "Detrending and the Money-Output Link: International Evidence," (with Ali M. Kutan) Southern Economic Journal, Vol. 69, No. 1, 2002.
• "What Remains of Monetarsim?" Published in Federal Reserve Bank of Atlanta Economic Review, Fourth Quarter, Vol 86, No. 4, 2001.
• "The Rise and Fall of a Policy Rule: Monetarism at the St. Louis Fed, 1966-86," (with David C. Wheelock), The Federal Reserve Bank of St. Louis Review, January/February 2001.

Recent Working Papers:

• 02-0801: "Subprime Lending in Metro East St. Louis: A Preliminary Report,"

Other:

• Curriculum Vita

Prior to joining the SIUE faculty, Dr. Hafer was a Research Officer with the Federal Reserve Bank of St. Louis. During his tenure at the Bank (1979 - 1989), he also held teaching positions at St. Louis University, the University of Missouri-St. Louis, was a Visiting Associate Professor of Economics at Washington University (1986-87) and was an Adjunct Associate Professor of Finance in the Olin School of Business, Washington University (1987-1988). Dr. Hafer also taught in the Stonier Graduate School of Banking (1990). In 1982 he was visiting Professor of Economics at Erasmus University, Rotterdam, The Netherlands. During August, 1998, he served as economic consultant to the Central Bank of the Philippines. Dr. Hafer has also been a visiting Scholar with the Research Department of the Federal Reserve Bank of Atlanta and a Research Fellow with the Institute for Urban Research.

Professor Hafer has published  in scholarly journals, including The Journal of Finance, Journal of Monetary Economics, Journal of Money, Credit and Banking, the Journal of International Money and Finance, authored or edited five books on monetary policy and financial markets and has written for The Wall Street Journal, The St. Louis Post Dispatch, the llinois Business Journal and the St. Louis Beacon. Professor Hafer has presented his research in meetings of the American Economic Association, the Western Economic Association, the Southern Economic Association and the Southwestern Finance Association. In 1990, he was the co-recipient of a Chicago Board of Trade Award for his work on the futures market, and the Georgescu-Roegen Prize in Economics for an article that appeared in the Southern Economic Journal.

In addition to his research, Professor Hafer serves as a referee for numerous professional journals, and is on the editorial board of Economic Inquiry. Since joining the faculty, Professor Hafer has received several funded research grants from SIUE.  His current research interests concern banking regulation, monetary policy, and financial markets.