From the Forum:
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The 2011 Economic Forum at University of Lynchburg featured keynote speaker John Shea, PhD, Deputy Assistant Secretary for Macroeconomic Analysis in the Office of Economic Policy in the US Department of the Treasury.
The forum, held on Thursday, March 3 in Sydnor Performance Hall, was hosted by University of Lynchburg and the Lynchburg Regional Chamber of Commerce.
According to Dr. Shea, economic recovery is not likely to be negatively impacted by inflation. The Treasury economist told Lynchburg business leaders that gas prices aren’t likely to inflate the core cost of living because labor costs remain low.
Dr. Shea received his PhD in economics from MIT. He teaches graduate and undergraduate courses in macroeconomics, money and banking at the University of Maryland.
His research has examined topics such as the short-run response of prices and quantities to demand shocks, the response of consumption to predictable movements in labor income, the impact of parental income on children’s labor market success, and the short-run impact of technological change on industry activity. His work has been published in leading journals including The Quarterly Journal of Economics, The American Economic Review, the Journal of Public Economics, and the Journal of Money, Credit and Banking.
Also featured was a regional economic forecast by Dr. Joe Turek, Dean of the School of Business and Economics at University of Lynchburg, who provided a clearer understanding of regional economic data and trends.