Challenges of Contemporary Economics

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First Name: Yochanan
Second name: Shachmurove
Academic title: Professor

Place of employment: Department of Economics and Business, The City College of the City University of New York, USA
Position: Professor of Economics and Business at The City College and The Graduate Center of The City University of New York and Scholar, The University of Pennsylvania


Ph.D.; Economics; University of Minnesota; 1983

M.A.; Economics; University of Minnesota; 1980

M.B.A.; Finance and Operations Research; Tel Aviv University; 1977

B.A.; Economics; Tel Aviv University; 1975

Research interests:
  • International Finance and Economics
  • Economies of the Middle East
  • Monetary Systems
  • Money
  • Banking and Financial Institutions
  • Capital Markets
  • Applied Econometrics
  • Stock Market Dynamics
  • Middle East Emerging Financial Markets
  • Emerging Financial Markets
  • Entrepreneurial Finance and Business Ventures
  • The Israel Economy
  • Law and Economics


Publications (most important/popular):

Please see also:


1. "A Historical Overview of Financial Crises in the United States," Global Finance Journal, Volume 23, Issue 3: 217-231, 2011, published simultaneously in Poznan University of Economics Review, Volume 11, Number 1, 2011, pp. 28-47.

2.  "Diversification and Specialization Paradox in Developing Country Trade," (with M. Kellman), Review of Development Economics, Volume 15, Number 2, May 2011, pp. 212-222.

3.  "The Welfare of Nations in a Globalized Economy," (with U. Spiegel) International Trade Journal, (Lead Article), Volume 24, Number 3, July-September 2010, pp. 230-260.

4.  "Modeling and Forecasting Energy Consumption in China: Implications for Chinese Energy Demand and Imports in 2020," Energy Economics, (with J. Adams), Volume 30, Issue 3, May 2008, pp. 1263-1278.

5. "Why Is China So Competitive? Measuring and Explaining China's Competitiveness," (with G. Adams and B. Gangnes), The World Economy, (Lead Article), Volume 29, Number 2, February 2006, pp. 95-122.

6.  "A Monopoly Reason Why Autarky Might be Best for a Large Country," (with U. Spiegel), The Manchester School, (Lead Article), Volume 73, Number 3, June 2005, pp. 269 - 280.

7. "The Premium in Black Dollar Foreign Exchange Markets: Evidence From Developing Economies," Journal of Policy Modeling, (Lead Article), Volume 21, Number 1, 1999, pp. 1-39.

8.  "Return-Volume Dynamics in Futures Markets," (with A. E. Kocagil), The Journal of Futures Markets, Volume 18, Number 4, June 1998, pp. 399-426.

9.  "On Nations' Size and Transportation Costs," (with U. Spiegel), Review of International Economics, Volume 3,

10.  "Voting as Investment vs. Voting as Consumption: New Evidence," (with J. M. Guttman and N. Hilger), Kyklos, Volume 47, Issue 2, 1994, pp. 197-207.



1980-1981      University of Minnesota Student Leadership and Service Award

1979-1980      University of Minnesota Student Leadership and Service Award

1979              Department of Economics Fellowship, University of Minnesota

1978              Department of Economics Fellowship, University of Minnesota

1977-1978      University of Minnesota Student Leadership and Service Award

1976-1977      MBA Fellowship, Tel Aviv University

1977              Magna Cum Laude Honors, MBA, Tel Aviv University

1975              Magna Cum Laude Honors, BA, Tel Aviv University