Michel Demers

 B.A., M.A. (McGill), M.A., Ph.D. (Johns Hopkins)

Associate Professor (Economics)

Office: B-855 Loeb, 613-520-2600 x 3772

E-mail: michel_demers [at] carleton [dot] ca

Languages spoken other than English: French

Research fields: macroeconomics, investment theory and finance, economic development and growth

Expertise:
• irreversible investment
• the impact of uncertainty on investment and financial decisions
• insurance and risk analysis
• growth, structural adjustment, and policy uncertainty

Selected publications:

“Political Risk and Irreversible Investment” (with Sumru G. Altuğ and Fanny S. Demers), CESifo Economic Studies, Vol. 53, No. 3 (September 2007), pp. 430–465.

“Investment Dynamics” (with Sumru G. Altuğ and Fanny S. Demers), Dynamic Macroeconomic Analysis: Theory and Policy in General Equilibrium, ed. Sumru G. Altuğ, Jagjit S. Chadha, and Charles Nolan, Cambridge University Press, 2003, Ch. 2 (pp. 34–154).

“Cost Uncertainty, Taxation, and Irreversible Investment” (with Sumru G. Altuğ and Fanny S. Demers), Current Trends in Economics: Theory and Applications, ed. Ahmet Alkan, Charalambos D. Aliprantis, and Nicholas C. Yannelis, Springer, 1999, pp. 41–72.

“Investment under Uncertainty, Irreversibility and the Arrival of Information Over Time,” Review of Economic Studies, Vol. 58, No. 2 (April 1991), pp. 333–350.

“A Privately Revealing Rational Expectations Equilibrium for the Futures Market” (with Fanny S. Demers), European Economic Review, Vol. 33, No. 4 (April 1989), pp. 663–685 (lead article).

Short biography:

Michel Demers received a B.A. in economics and political science and an M.A. in economics from McGill University, and a Ph.D. in economics from the Johns Hopkins University. He has undertaken research in a wide range of topics, including irreversible investment, decision theory, life insurance, risk analysis, competitiveness, and European integration. His articles have been published in a variety of journals, including The Review of Economic Studies, Theory and Decision, the European Economic Review, and the Geneva Papers on Risk and Insurance Theory. He also has chapters in books such as Current Trends in Economics: Theory and Applications (Alkan, Aliprantis, and Yannelis, eds., Springer-Verlag.) He has held visiting positions at the University of British Columbia and at the CEPREMAP (Centre d’études prospectives d’économie mathématique appliquées à la planification) and the CEPII (Centre d’études prospectives et d’informations internationales) in Paris.