David  Kelly

David Kelly

Professor, Economics

Research Interests

Environmental economics and policy: Climate change policy under under uncertainty and learning, design of environmental regulation under uncertainty, economic growth and the environment, government policy and the environment, adaptation to climate change; monetary economics and monetary policy including money and inflation, consumer response to Fed policy, and the relationship between Fed policy and the business cycle

Featured Publications

  • Boleslavsky, Raphael, David L. Kelly and Curtis R. Taylor, 2017, “Selloffs, Bailouts, and Feedback: Can Asset Markets Inform Policy,” Journal of Economic Theory, 169:294-343.

    Fitzpatrick, Luke, and David L. Kelly, 2017, “Probabilistic Stabilization Targets,” Journal of the Association of Environmental and Resource Economists, 4(3):611-657.

    Heutel, G. and David L. Kelly, 2016, "Incidence and Environmental Effects of Distortionary Subsidies", Journal of the Association of Environmental and Resource Economists, 3(2):361-415.

    Kelly,David L.and Zhuo Tan, 2015, "Learning and Climate Feedbacks: Optimal Climate Insurance and Fat Tails," Journal of Environmental Economics and Management, 72:98-122.

    Raphael Boleslavsky and David L. Kelly, 2014, "Dynamic Regulation Design Without Payments: The Importance of Timing," Journal of Public Economics, 120:169-80.

    Bossi, Luca, Pere Gomis-Porqueras, and David L. Kelly, 2014, "Optimal Second Best Taxation of Addictive Goods" B.E. Journal of Macroeconomics (Advances), 14(1):75-118.

    Bajona, Claustre and David L. Kelly, 2012, "Trade and the Environment With Pre-Existing Subsidies: A Dynamic General Equilibrium Analysis," Journal of Environmental Economics and Management, 64(2):253-78.

    Kelly, David L., D. Letson, F. Nelson, D. Nolan, and D. Solis, 2012, "Evolution of Subjective Hurricane Risk Perceptions: A Bayesian Approach," Journal of Economic Behavior and Organization, 81, 644-63.

    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 and Professional Experience

  • Professor, Economics, University of Miami Business School, 2012 - Present
  • Associate Professor, Economics, University of Miami Business School, 2003 - 2012
  • Chair, Department of Economics, University of Miami Business School, 2005 - 2008
  • Assistant Professor, Economics, University of Miami Business School, 1998 - 2002
  • Visiting Assistant Professor, Economics, University of California at Santa Barbara, 1996 - 1998
  • Postdoctoral Researcher, Economics, University of California at Santa Barbara, 1995 - 1998
  • Visiting Assistant Professor, Environmental Science and Management, University of California at Santa Barbara, 1996 - 1997
  • Visiting Assistant Professor, Economics, Carnegie Mellon University, Graduate School of Industrial Administration, 1994 - 1995

Specialties

  • Environmental economics
  • Monetary economics and policy
  • Macroeconomics

Degrees

  • Ph.D., Economics, Carnegie Mellon University, Graduate School of Industrial Administration, 1995
  • M.S., Economics, Carnegie Mellon University, Graduate School of Industrial Administration, 1991
  • B.S., Mathematical Economics (with honors), Wake Forest University, 1989

Honors and Awards

  • University of Miami Excellence in Teaching Award, 2000
  • William Larimer Mellon Fellowship, 1989 - 1992
David  Kelly

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