Research Interests

• Economic costs and benefits of environmental policy, especially climate change and growth, environmental policy in developing countries, and environmental regulation.
• Monetary economics and monetary policy including money and inflation, consumer response to Fed policy, and the relationship between Fed policy and the business cycle.

Selected Publications

• Bartz, S. and David L. Kelly, 2008, "Economic Growth and the Environment:  Theory and Facts,"  Resource and Energy Economics, 30, 115-49.
• Kelly, David L. and Stephen F. LeRoy, 2007, "Liquidity and Liquidation," Economic Theory, 31(3), 553-572.
• Kelly, David L., 2005, "Price and Quantity Regulation in General Equilibrium," Journal of Economic Theory, 125(1), 36-60.
• Kelly, David L., C. D. Kolstad, and G. T. Mitchell, 2005, "Adjustment Costs From Environmental Change," Journal of Environmental Economics and Management, 50(3), 468-495.
• Kelly, David L., and D. G. Steigerwald, 2004, "Private Information and High Frequency Stochastic Volatility," Studies in Non-Linear Dynamics and Econometrics, 8(1), 1-28.
• Kelly, David L., 2004, "On Environmental Kuznets Curves Arising From Stock Externalities," Journal of Economic Dynamics and Control, 27(8), 1367-90.
• Kelly, David L. and C. D. Kolstad, 2001, “Solving Infinite Horizon Growth Models with an Environmental Sector,” Journal of Computational Economics, 18, 217-31.
• Kelly, David L. and C. D. Kolstad, 2001, “Malthus and Climate:  Betting on a Stable Population," Journal of Environmental Economics and Management, 41, 135-61.
• Kelly, David L. and J. Shorish, 2000, “Stability of Functional Rational Expectations Equilibria," Journal of Economic Theory, 95(2), 215:50.
• Kelly, David L. and C. D. Kolstad, 1999, “Bayesian Learning, Pollution, and Growth,” Journal of Economic Dynamics and Control, 23(4), 491-518.
• Goenka, A., David L. Kelly, and S. E. Spear, 1998, “Endogenous Strategic Business Cycles,” Journal of Economic Theory, 81(1), 97-125.

Teaching & Professional Experience

• Visiting Assistant Professor, University of California at Santa Barbara, Department of Environmental Science and Management, July 1996-1998.
• Visiting Assistant Professor of Economics, Carnegie Mellon University, Graduate School of Industrial Administration, August 1994-May 1995.

Degrees

• Graduate School of Industrial Administration, Carnegie Mellon University, Ph.D.,
  Economics, May, 1995.
• Graduate School of Industrial Administration, Carnegie Mellon University, M.S.,
  Economics, 1991.
• Wake Forest University, B.S., Honors in Mathematical Economics, 1989.

Specialties

• Environmental Economics
• Monetary Economics and Policy
• Macroeconomics