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Tepper In The News

For copies of articles in their entirety, please contact Barbara Feldman at 412-268-9885.

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The Bond Buyer, 6/30/2008
Doctoral thesis reveals pennies added up to more than $1 billion when price of muni bonds was rounded up
Research that economist Dan Li completed for her doctoral thesis at the Tepper School reveals that dealers may have made more than $1 billion in profits by rounding up the price of municipal bonds charged to retail investors, often by just a few pennies. Li, who now works for the Federal Reserve’s division of research and statistics in Washington, studied the muni market at the suggestion of Rick Green, Richard M. and Margaret S. Cyert Professor of Economics and Management; Associate Dean for Research.

The Miami Herald, 6/30/2008
Florida utility gets praise for effective wind operation
FPL Energy, the sister company to Florida Power & Light, is one of the country’s most efficient wind operators, says Jay Apt, Executive Director, Electricity Industry Center; Associate Research Professor; Distinguished Service Professor in Engineering and Public Policy. At present, wind provides only 1 percent of U.S. electricity, but a federal report predicts it could provide 20 percent of American power by 2030.

Pittsburgh Post-Gazette, 6/29/2008
Conservation first, then offshore drilling, recommends Lave
The U.S. should open up some of its offshore areas for oil drilling, but only after first pursuing a comprehensive policy of energy efficiency, says Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center. Lave says conservation would have an effect sooner and would save more oil than could be found offshore.

Forbes, 6/25/2008
Bernanke bowed to pressure from Wall Street, says Meltzer
Federal Reserve Chairman Ben Bernanke began his tenure with a view that the Fed should aim for immediate results, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. However, pressure from Wall Street has resulted in Bernanke reverting to the ill-fated strategies of the 1970s, which gave too much weight to the possibility of a recession, he says.

CNBC, 6/25/2008
Meltzer: Fed must now work to correct its earlier mistakes
The Federal Reserve has made several mistakes in overreacting to the housing slump and job losses, and underestimating the effect of inflation, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Meltzer says the only thing the central bank can do now is aim for a low level of inflation for the short term and try to correct its earlier errors.

U.S. News & World Report, 6/24/2008
Professor’s research shows that when it comes to wine, there’s no such thing as bad publicity
Research by Ray Reagans, Associate Professor of Organizational Behavior and Theory, and Peter Roberts of Emory University, shows that the price that people will pay for a bottle of wine depends almost entirely on whether critics have had anything to say about it. There's no such thing as bad publicity, they found: Wineries that received reviews — even less-than-stellar ones — could charge a premium for their products.

Triangle Business Journal, 6/23/2008
Tepper alumnus chosen to lead Kenan-Flagler Business School
Jim Dean, who earned his master’s degree from the Tepper School in 1980 and his PhD in 1983, has been selected as the dean of the Kenan-Flagler Business School at the University of North Carolina. The appointment of Dean, who currently holds the school’s top academic position, still must be approved by UNC’s Board of Trustees.

Bloomberg, 6/23/2008
Meltzer: Bernanke panicked
Federal Reserve Chairman Ben Bernanke “panicked” as financial market losses spread, says Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy. Bernanke has cut the Fed’s target to 2 percent from 5.25 percent in September.

WTAE-TV, 6/23/2008
Lave: Harvesting methane gas from landfills makes good economic, environmental sense
Methane produced by landfills can be turned into a high-grade pipeline gas, an idea that makes sense given the price of natural gas right now, says Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center. In addition, Lave notes that releasing the gas into the air creates ozone smog, a large contributor to global warming, so harvesting the gas is also good for the environment.

Houston Chronicle, 6/19/2008
Question for refining industry is: What happens next?
After three years of record profits, the party may be over for the U.S. refining industry, which has a longer history of “lousy returns,” says Lester Lave, Harry B. and James H. Higgins Professor of Economics and University Professor; Director, Carnegie Mellon Green Design Initiative; Co-Director, Carnegie Mellon Electricity Industry Center. Lave says the question now is what will happen next.

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