Curriculum Vitae

Kevin M. Murphy

February 2005

 

Business Address:

Home Address:

University of Chicago
Graduate School of Business
5807 South Woodlawn Avenue
Chicago , Illinois 60637
email: murphy@chicagogsb.edu
2644 Second Private Road
Flossmoor , IL 60422
Phone: 773-702-7280
Fax: 773-834-3554

Education
University of California, Los Angeles, A.B., Economics, 1981
University of Chicago, Ph.D., 1986
Thesis Topic: Specialization and Human Capital

Honors and Awards
1998--Elected to the American Academy of Arts & Sciences
John Bates Clark Medalist, 1997
1993-- Fellow of The Econometric Society
1989-1991 Sloan Foundation Fellowship, University of Chicago
1983-1984 Earhart Foundation Fellowship, University of Chicago
1981-1983 Fellowship, Friedman Fund, University of Chicago
1980-1981 Phi Beta Kappa, University of California, Los Angeles
1980-1981 Earhart Foundation Fellowship, University of California, Los Angeles
1979-1981 Department Scholar, Department of Economics, University of California, Los Angeles

Other Affiliations
Faculty Research Associate, National Bureau of Economic Research


Research and Academic Positions

2005-George J. Stigler Distinguished Service Professor of Economics, Department of Economics and Graduate School of Business, University of Chicago
2002-George J. Stigler Professor of Economics, Department of Economics and Graduate School of Business, University of Chicago
1993-2002: George Pratt Shultz Professor of Business Economics and Industrial Relations, University of Chicago
1989-1993: Professor of Business Economics and Industrial Relations, University of Chicago
1988-1989: Associate Professor of Business Economics and Industrial Relations, University of Chicago
1986-1988, Assistant Professor of Business Economics and Industrial Relations, University of Chicago
1983-1986, Lecturer, Graduate School of Business, University of Chicago
1982-1983, Teaching Associate, Department of Economics, University of Chicago
1979-1981, Research Assistant, Unicon Research Corporation, Santa Monica, California


Selected Publications

Books:

Social Economics: Market Behavior in a Social Environment (with Gary S. Becker). Cambridge , MA : Harvard University Press (The Belknap Press), 2000.

Measuring the Gains from Medical Research: An Economic Approach (edited volume with Robert H. Topel) University of Chicago Press , 2003.

Articles:

“Government Regulation of Cigarette Health Information,” with B. Klein and L. Schneider, Journal of Law and Economics , 1981.

“Estimation and Inference in Two-Step Econometric Models,” with Robert H. Topel, Journal of Business and Economic Statistics , 1985.

“Unemployment, Risk, and Earnings: Testing for Equalizing Wage Differences in the Labor Market,” with Robert H. Topel, in Unemployment and the Structure of Labor Markets , pp. 103-139, ed. Kevin Lang and Jonathan S. Leonard. London : Basil Blackwell, 1987.

“The Evolution of Unemployment in the United States : 1968-1985,” with Robert H. Topel. The NBER Macroeconomics Annual , vol. 2, 1987.

“Industrialization and the Big Push,” with Andrei Shleifer and Robert Vishny, Journal of Political Economy 97 (October 1989): 1003-1026.

“Vertical Restraints and Contract Enforcement,” with Benjamin Klein. Journal of Law and Economics 31 (October 1988): 265-97.

“Cohort Size and Earnings in the United States,” with Mark Plant and Finis Welch, in Economics of Changing Age Distributions in Developed Countries , ed. Ronald D. Lee, W. Brian Arthur, and Gerry Rodgers. Oxford : Clarendon Press, 1988.

“The Family and the State,” with Gary Becker, Journal of Law and Economics 31 (April 1988): 1-18.

“A Theory of Rational Addiction,” with Gary Becker, Journal of Political Economy 96 (August 1988): 675-700.

“Income Distribution, Market Size, and Industrialization,” with Andrei Shleifer and Robert Vishny, Quarterly Journal of Economics 104 (August 1989): 537-64.

“Efficiency Wages Reconsidered: Theory and Evidence,” with Robert Topel. In Advances in the Theory and Measurement of Unemployment , pp. 204-40. Edited by Yoram Weiss and Gideon Fishelson. London : Macmillan, 1990.

“Wage Premiums for College Graduates: Recent Growth and Possible Explanations,” with Finis Welch, Educational Researcher (May 1989): 17- 26.

“Empirical Age-Earnings Profiles,” with Finis Welch, Journal of Labor Economics 8 (April 1990): 202-29.

“Human Capital, Fertility, and Economic Growth,” with Gary S. Becker and Robert F. Tamura, Journal of Political Economy 98, no. 5, pt. 2 (October 1990): S12-S37.

“Building Blocks of Market Clearing Business Cycle Models,” with Andrei Shleifer and Robert W. Vishny. NBER Macroeconomics Annual 1990 . Cambridge : M.I.T. Press, 1990.

“Accounting for the Slowdown in Black-White Wage Convergence,” with Chinhui Juhn and Brooks Pierce. In Workers and Their Wages: Changing Patterns in the United States , pp. 107-143, ed. Marvin Kosters. Washington , D.C. : American Enterprise Institute, 1991.

“The Role of International Trade in Wage Differentials,” with Finis Welch. In Workers and Their Wages: Changing Patterns in the United States , pp. 39- 69, ed. Marvin Kosters. Washington , D.C. : American Enterprise Institute, 1991.

“The Allocation of Talent: Implications for Growth,” with Andrei Shleifer and Robert W. Vishny, Quarterly Journal of Economics 106 (May 1991): 503-30.

“Rational Addiction and the Effect of Price on Consumption,” American Economic Review Papers and Proceedings 81 (May 1991): 237-241.

“Why Has the Natural Rate of Unemployment Increased over Time?” with R. Topel and C. Juhn, Brookings Papers on Economic Activity 2 (1991), pp. 75-142.

“Industrial Change and the Rising Importance of Skill” with F. Welch. In Uneven Tides , pp. 101-132, ed. Peter Gottschalk and Sheldon Danziger. New York : Russell Sage Foundation Publications, 1993.

“The Transition to a Market Economy: Pitfalls of Partial Planning Reform,” with A. Shleifer and R. Vishny. Quarterly Journal of Economics , August 1992.

“The Structure of Wages,” with Finis Welch. Quarterly Journal of Economics 107 (February 1992): 285-326.

“Wages of College Graduates,” in The Economics of American Higher Education , ed. William E. Becker and Darrell R. Lewis. Boston : Kluwer Academic Publishers, 1992.

“Changes in Relative Wages, 1963-1987: Supply and Demand Factors,” with Lawrence F. Katz, Quarterly Journal of Economics 107 (February 1992): 35- 78.

“The Division of Labor, Coordination Costs, and Knowledge,” with Gary Becker, Quarterly Journal of Economics 107 (November 1992): 1137-60.

“Wage Inequality and Family Labor Supply,” with Chinhui Juhn, Industrial and Labor Relations Association 44th Annual Proceedings (January 1993), pp. 206- 15.

“Wage Inequality and the Rise in Returns to Skill,” with Chinhui Juhn and Brooks Pierce, Journal of Political Economy 101 (June 1993): 410-442.

“Occupational Change and the Demand for Skill, 1940-1990,” with Finis Welch, American Economic Review Papers & Proceedings 83 (May 1993): 122- 126.

“Inequality and Relative Wages,” with Finis Welch, American Economic Review Papers & Proceedings 83 (May 1993): 104-109.

“Why Is Rent-Seeking So Costly to Growth?” with Andrei Shleifer and Robert Vishny, American Economic Review Papers & Proceedings 83 (May 1993): 409-414.

“A Simple Theory of Advertising as a Good or Bad,” with Gary Becker, Quarterly Journal of Economics (November 1993): 941-64.

“Cattle Cycles,” with Sherwin Rosen and Jose A. Scheinkman, Journal of Political Economy (June 1994): 468-92.

“An Empirical Analysis of Cigarette Addiction,” with Gary Becker and Michael Grossman, American Economic Review 84 (June 1994): 396-418.

“Relative Wages and Skill Demand, 1940-1990,” with Chinhui Juhn. In Labor Markets, Employment Policy, and Job Creation , ed. Lewis C. Solmon and Alec R. Levenson. The Milken Institute Series in Economics and Education. Boulder , CO : Westview Press, 1994.

“Inequality in Labor Market Outcomes: Contrasting the 1980s and Earlier Decades,” with Chinhui Juhn. Federal Reserve Bank of New York Economic Policy Review (January 1995): 26-34.

“Employment and the 1990-91 Minimum Wage Hike,” with Donald Deere and Finis Welch. American Economic Review Papers & Proceedings , May 1995.

“Social Status, Education, and Growth,” with Chaim Fershtman and Yoram Weiss. Journal of Political Economy 104 (February 1996): 108-32.

“Examining the Evidence on Minimum Wages and Employment,” with Donald R. Deere and Finis R. Welch, in The Effects of the Minimum Wage on Employment , ed. Marvin H. Kosters. Washington , D.C. : The AEI Press, 1996.

“Wage Inequality and Family Labor Supply” with Chinhui Juhn. Journal of Labor Economics 15 (January 1997): 72-97.

“Vertical Integration as a Self-Enforcing Contractual Arrangement,” with Benjamin Klein. American Economic Review (May 1997): 415-420.

“Unemployment and Nonemployment,” with Robert H. Topel. American Economic Review 87 (May 1997): 295-300.

“Quality and Trade,” with Andrei Shleifer. Journal of Development Economics 53 (1997): 1-15.

“Perspectives on the Social Security Crisis and Proposed Solutions,” with Finis Welch. American Economic Review Papers & Proceedings 88 (May 1998): 142-157.

“Wages, Skills, and Technology in the United States and Canada ,” with W. Craig Riddell and Paul M. Romen, in General Purpose Technologies and Economic Growth , edited by Elhanan Helpman.  Cambridge , MA : M.I.T. Press, 1998.

“Population and Economic Growth,” (with Gary S. Becker and Edward Glaeser), American Economic Review 89 (May 1999): 145-149.

“A Competitive Perspective on Internet Explorer” (with Steven J. Davis), American Economic Review Papers & Proceedings 90 (May 2000): 184-187.

“Industrial Change and the Demand for Skill” (with Finis Welch), in The Causes and Consequences of Increasing Inequality , edited by Finis Welch. Volume II in the Bush School Series in the Economics of Public Policy. Chicago : University of Chicago Press, 2001.

“Wage Differentials in the 1990s: Is the Glass Half Full or Half Empty?” (with Finis Welch), in The Causes and Consequences of Increasing Inequality , edited by Finis Welch. Volume II in the Bush School Series in the Economics of Public Policy. Chicago : University of Chicago Press, 2001.

“The Economic Value of Medical Knowledge” (with Robert H. Topel). in Measuring the Gains from Medical Research: An Economic Approach . Edited by Robert H. Topel and Kevin M. Murphy. University of Chicago Press, 2003.

“Economic Perspectives on Software Design: PC Operating Systems and Platforms” (with Steven J. Davis and Jack MacCrisken), Microsoft, Antitrust, and the New Economy: Selected Essays , edited by Davis S. Evans. Boston , MA : Kluwer.

“The Economics of Copyright ‘Fair Use' in A Networked World” (with Andres Lerner and Ben Klein), American Economic Review Papers & Proceedings , (May 2002).

“Current Unemployment, Historically Contemplated” (with Robert Topel and Chinhui Juhn), Brookings Papers on Economic Activity 2 , Brooking Institution, 2002.

“School Performance and the Youth Labor Market” (with Sam Peltzman), Journal of Labor Economics , 2003.

“Entrepreneurial Ability, Market Selection, and Setting Up an Infant Industry: Theory and Evidence from the Japanese Textile Industry” (with Atsushi Ohyama and Serguey Braguinsky) Review of Economic Dynamics, 2003.

“Entry, Pricing and Product Design in an Initially Monopolized Market” (with Steven J. Davis and Robert H. Topel), Journal of Political Economy .

“Diminishing Returns: The Costs and benefits of Increased Longevity” (w/ Robert Topel) Perspectives in Biology and Medicine , 2004.

“Black-White Differences in the Economic Value of Improving Health” (with Robert Topel), Perspectives in Biology and Medicine , 2005.

“Social Status and Inequality” (w/ Gary Becker and Ivan Werning) Journal of Political Economy, 2005

“Persuasion in Politics” (w/ Andrei Shleifer), American Economic Review Papers & Proceedings , (May 2004).

“The Economic Theory of Illegal Goods: The Case of Drugs” (w/ Gary Becker), Under review at Journal of Political Economy

Selected Working Papers

“The Antitrust Economics of Interchange Fees” (w/ Benjamin Klein, Kevin Green, and Lacey Place)

“The Economics of Bundling Advertising in Media Markets” (w/ Ignacio Palacios),

War In Iraq Versus Containment: Weighing the Costs (w/ Steve Davis & Robert Topel ), November 2003

“Estimating the Effect of the Crack Epidemic” (w/ Steve Levitt and Roland Fryer), January 2004 – Revised January 2005

“The Interaction of Growth in Population and Income” (w/ Gary Becker), November 2003 – revised February 2005

“The Simple Economics of the War on Drugs” (with Gary S. Becker and Michael Grossman), November 2001.

“Gauging the Economic Impact of September 11th” (with Gary S. Becker), October 15, 2001.

“Adverse Price Effects of Entry in Markets with Few Firms” (with Steven J. Davis and Robert H. Topel), Graduate School of Business , April 2001.

“Inequality and Relative Wages in the 1990s” (with Finis Welch).

“The Structure of Wages Revisited,” with Finis Welch. Private Enterprise Research Center Working Paper No. 9724, College Station , TX Texas A&M University , June 1997.

Selected Comments:

Comment on “Social Security and Demographic Uncertainty,” by Henning Bohn. In Risk Aspects of Investment-Based Social Security Reform , edited by John Y. Campbell and Martin Feldstein. A National Bureau of Economic Research Conference Report. Chicago : University of Chicago Press, 2001.

Comment on “High Technology Industries and Market Structure,” by Hal R. Varian. Prepared for Federal Reserve Bank of St. Louis , Jackson Hole Symposium, August 2001.

Commentary on Robert Z. Lawrence, “Causes of Changing Earnings Equality,” in Income Inequality: Issues and Policy Options , Proceedings of a Symposium Sponsored by the Federal Reserve Bank of Kansas City, Jackson Hole, WY, August 27-29, 1998, pp. 143-150.

“Comment: Asking the Right Questions in the Medicare Reform Debate,” comment on Sloan and Taylor, Cutler, and Gokhale and Kotlikoff. Chapter Eight of Medicare Reform: Issues and Answers , edited by Andrew J. Rettenmaier and Thomas R. Saving. College Station , TX : The Bush School of Government & Public Service, Texas A&M University . Volume I in the Bush School Series in the Economics of Public Policy, edited by James M. Griffin.

Selected Appearances in Popular Media

“Higher Learning Clearly Means Higher Earning,” by Carol Kleiman. Long article about “The Structure of Wages” with picture of Murphy. Chicago Tribune , Sunday, March 12, 1989 .

“The Education Gap Rap,” The American Enterprise (March-April 1990), pp. 62-63.

“Why the Middle Class Is Anxious,” by Louis S. Richman. Fortune , May 21, 1990 , pp. 106-112. Extensive reference to Murphy's work on returns to education.

“Unequal Pay Widespread in U.S. ,” by Louis Uchitelle. Long piece on income inequality, appeared on p. 1 of New York Times Business Day section, August 14, 1990.

“One Study's Rags to Riches Is Another's Rut of Poverty,” by Sylvia Nasar. Long piece on the income inequality research, appeared on page 1 of New York Times business section, June 17, 1992 .

“Nobels Pile Up for Chicago , but Is the Glory Gone?” by Sylvia Nasar. Long piece on Chicago School of economics, appeared on page 1 of the New York Times business section, November 4, 1993 . Featured a photo of five of the “brightest stars on the economics faculty” (including Murphy) and a paragraph about Murphy's research.

“Is the Smoking Lamp Going Out for Good?” Commentary by Christopher Farrell. Business Week , April 11, 1994 . Commentary section refers to Murphy, Becker, and Grossman's work on rational addiction.

“Growing inequality and the economics of fragmentation,” by David Warsh. Boston Sunday Globe , August 21, 1994 . Two-page article with picture and biographical details about Murphy and his research; part of a series about “how the new generation replaced the old in economics.”

“A Pay Raise's Impact,” by Louis Uchitelle. New York Times , January 12, 1995 . Article about consequences of proposed increase in the minimum wage, appeared on p. 1 of the Business Section. Articles featuring Murphy's comments on the minimum wage appeared in numerous other publications, including the Chicago Tribune ; in addition, Murphy was interviewed on CNN January 26, 1995 .

“The Undereducated American” Wall Street Journal , August 19, 1996 . Changes in the rate of returns to education.

“Rethinking Antitrust” (with Gary S. Becker), Wall Street Journal , February 20, 2001 .

“Prosperity Will Rise Out of the Ashes” (with Gary S. Becker), Wall Street Journal , October 29, 2001 .

  About Murphy:

“In Honor of Kevin M. Murphy: Winner of the John Bates Clark Medal,” by Finis Welch. Journal of Economic Perspectives 14 (Summer 2000): 193-204.