Dr. Steven Gjerstad
Presidential Fellow in the Economic Science Institute
The George L. Argyros College of Business and Economics
Economic Science Institute
Office Location:
Wilkinson Hall 119
- Education:
- University of Minnesota - Twin Cities, Bachelor of Science
University of Minnesota - Twin Cities, Master of Arts
University of Minnesota - Twin Cities, Ph.D.
Recent Creative, Scholarly Work and Publications
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Gjerstad, Steven and Jason Shachat (2021). "Individual Rationality and Market Efficiency," Nonlinear Dynamics, Psychology and Life Sciences, Volume 25, Number 4, pp. 395-406.
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Gjerstad, Steven (2018). "Reorganization of Failing Financial Firms: A Capital Structure Solution," Cato Journal, Vol. 38, No. 1, pp. 65 - 79.
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Gjerstad, Steven (2018). "Bondholder reorganization of systemically important financial institutions," Journal of Financial Economic Policy, Volume 10, Issue 2, pp. 281-289.
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“Economic Modelling: Why the Standard Model Survives Bad Performance,” The Independent Review, Vol. 20:4, Spring 2016, pp. 617–21.
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"Retrading, production, and asset market performance," Proceedings of the National Academy of Sciences, 112:47, (Nov. 24, 2015), pp. 14557–14562.
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Gjerstad, Steven D. and Vernon L. Smith (2014). ``Consumption and Investment Booms in the Twenties and Their Collapse in 1930,'' in Housing and Mortgage Markets in Historical Perspective, Price Fishback, Eugene N. White, and Kenneth Snowden, Eds. University of Chicago Press for the National Bureau of Economic Research.
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Gjerstad, Steven D. and Vernon L. Smith (2014). Rethinking Housing Bubbles: The Role of Household and Bank Balance Sheets in Modeling Economic Cycles. New York: Cambridge University Press.
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Gjerstad, Steven D. and Vernon L. Smith (2014). "Bonds, Not Bailouts, for Too Big to Fail Banks," Wall Street Journal, Aug. 13.
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Gjerstad, Steven and Vernon L. Smith (2013). "Balance Sheet Crises: Causes, Consequences, and Responses," Cato Journal, Vol. 33:3, pp. 437 - 470.
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Gjerstad, Steven (2013). "Price dynamics in an exchange economy," Economic Theory, Vol. 52, pp. 461 - 500.
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"At Home in the Great Recession," in The 4% Solution, Brendan Miniter, Ed., New York: Crown Publishing Group.
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"Underwater Recession," The American Interest, May/June 2012, pp. 20 - 28.
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"Monetary Policy, Credit Extension, and Housing Bubbles: 2008 and 1929," in What Caused the Financial Crisis, Jeffrey Friedman, Ed., Philadelphia: University of Pennsylvania Press.
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"Why We're in for a Long, Hard Economic Slog," Wall Street Journal, Sept. 10.
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"Bolla immobiliare una costante nelle grandi crisi," La Repubblica, May 25.
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"Monetary Policy, Credit Extension, and Housing Bubbles: 2008 and 1929," Critical Review, Vol. 21: 2-3, pp. 269 - 300. http://www.tandfonline.com/doi/abs/10.1080/08913810902934117#preview
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"From Bubble to Depression?" Wall Street Journal, April 6, p. A15.