Elena Pesavento

Department of Economics
Emory University
Atlanta, GA 30322

Office: 318 Rich Building
Phone: (404) 712-9297
Fax: (404) 727-4639


Doctor of Philosophy – University of California, San Diego

September 2000
Department of Economics
Dissertation: Analytical Evaluation and Application of Tests for Cointegration
Thesis Advisor: Prof. Graham Elliott

Visiting Scholar – University of California, Berkeley
September 1993 – August 1994
EAP program – Department of Economics

Bachelor of Arts – Universita’ di Padova, Italy
July 1993
Statistics and Economics Sciences

Employment and Teaching History

Associate Professor – Emory University
September 2007 – Present
Department of Economics

Assistant Professor – Emory University
August 2000 – August 2007
Department of Economics

Jean Monnet Fellow – European University Institute, Florence, Italy
January 2006 – June 2006
Department of Economics

Visiting Assistant Professory – University of Michigan, Ann Arbor
September 2005 – December 2005
Department of Economics

Research Assistant – University of California, San Diego
September 1995 – September 2000
Department of Economics

Research Assistant – Nicholas Applegate Capital Management
September 1998 – September 1999
Research Department

Teaching Assistant – University of California, San Diego
September 1995 – September 2000
Department of Economics
Research Interests

  • Time Series Analysis and Econometrics. Evaluation and comparison of cointegration tests, IRF for VAR with local to unity roots.
  • International Macroeconomics: Modeling of real exchange rates and study of the PPP theory.
  • Macroeconomics: Inventories and output fluctuations.

Teaching Experience

  • Statistics, Applied Econometrics, Time Series Analysis (Graduate course)
  • Economic Forecasting / Econometrics (Undergraduate course)
  • Probability and Statistics, Econometrics

Graduate Students

  • Mwzandile Ginindza: “Three Essays in Empirical Macroeconomics” (Main Thesis Advisor)
  • Debdulal Mallick: “What We Know or Do Not Know About the Elasticity of Substitution: Four Essays on Growth Theory” (Thesis Committee Member)
  • Qi Zhu : “Four Essays on Consumer Preferences and Asset Pricing” (Thesis Committee Member)
  • Yan Liu: “Three Essays in Financial Econometrics” (Main Thesis Advisor, Co-Chair)
  • Hisham Foad: “Better In or Out? Assessing the impact of the European Monetar Union on cross-country price convergence, foreign direct investment, and foreign portfolio investment.” (Main Thesis Advisor, Co-Chair )
  • Eric Hallerberg: “An Economic Analysis of Currency Unions: The CFA Franc Zone” (Thesis Committee Member)


“An Analytical Evaluation of the Power of Tests for the Absence of Cointegration”, Journal of Econometrics, 122/2, 2004, 349-384.

“Optimal Power for Testing Potential Cointegrating Vectors with Known Parameters for Nonstationarity” (with Graham Elliott (UCSD) and Michael Jansson (UC Berkeley)), Journal of Business & Economic Statistics, Vol. 23, No. 1, January 2005, pp.34-48.

“The Decline in U.S. Output Volatility: Structural Changes and Inventory Investment” (with Ana Herrera (MSU)), Journal of Business & Economic Statistics , Vol. 23, No. 4, October 2005, pp.462-472.

“Do Technology Shocks Drive Hours Up or Down? A Little Evidence From an Agnostic Procedure”, (with Barbara Rossi (Duke)) Macroeconomic Dynamics, Vol. 9, No. 4, September 2005, pp. 478-488.

“On the Failure of PPP for Bilateral Exchange Rates After 1973”, (with Graham Elliott (UCSD)) Journal of Money, Credit, and Banking, Vol. 38, No. 6, September 2006, pp. 1405-1430.

“Small Sample Confidence Intervals for Multivariate Impulse Response Functions at Long Horizons” (with Barbara Rossi (Duke)),Journal of Applied Econometrics, Vol.21, No.8, December 2006, pp.1135-1155.

“Residuals Based Tests for the Null of No Cointegration: an Analytical Comparison”, Journal of Time Series Analysis, Vol.28, No.1, January 2007, pp.111-137.

“Impulse Response Confidence Intervals for Persistent Data: What Have We Learned?” (with Barbara Rossi (Duke)), Journal of Economic Dynamics and Control, Vol.31, No.7, July 2007, pp.2398-2412.

“The Comovement in Inventories and in Sales: Higher and Higher” (with Ana Herrera and Irina Murtazashvili, (MSU)), Economics Letters, Vol.99, No.1, April 2008, pp.155-158.

“Oil Price Shocks, Systematic Monetary Policy and the “Great Moderation”” (with Ana Herrera (MSU)), Macroeconomic Dynamics, Vol.13, No.1, February 2009, pp.107-137.

“Testing the null of no cointegration when covariates are known to have a unit root” (with Graham Elliott (UCSD)), Econometric Theory, Vol 25, No. 6, December 2009, pp. 1829-1850.
Papers Under Editorial Review

“Near-Optimal Unit Root Test with Stationary Covariate with Better Finite Sample Size”

“Sensitivity of Impulse Responses to Small Low Frequency Co-movements: Reconciling the Evidence on the Effects of Technology Shocks” (with Nikolay Gospodinov(MSU) and Alex Maynard (University of Guelph))
Work In Progress

“Higher Power Tests for no Cointegration”

“The comovement between inventory investment and sales.”
Editorial Board

Board of Editors: Empirical Economics.


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