Catherine Wolfram
	Associate Professor
	Phone: (510) 642-2588     Fax: (510) 643-1420  Email: wolfram@haas.berkeley.edu
	Office Hours: By appointment in F651

EDUCATION

• Ph.D., Economics, Massachusetts Institute of Technology (MIT).
• A.B., Economics, Harvard University.

• Regulation of business.
• Energy economics.
• Electricity industry restructuring.

• ECON 222/PHDBAC279I-1 (Seminar on Innovation), Spring 2008.
• BA201a (Economic Analysis for Business Decisions), Fall 2007.
• PHDBA 297 (Research and Theory in Business), Fall 2007.
• BA212 (Energy and Environmental Markets), Spring 2007.
• Recipient, 2006 Cheit Award for Best Teacher in Haas Evening MBA Program.

• "Political Constraints on Executive Compensation: Evidence From the Electric Utility Industry," with Paul Joskow and Nancy Rose, RAND Journal of Economics, 1996, Vol. 27 (Spring): 165-182.

 

• “Decomposing the Sources of Incumbency Advantage in the U.S. House,” with Steven D. Levitt, Legislative Studies Quarterly, 1997, Vol. 22 (February): 45-60.

 

• "Increases in Executive Pay Following Privatization," Journal of Economics and Management Strategy, 1998, Vol. 7 (Fall): 327-361 (lead article).

• "Strategic Bidding in a Multiunit Auction: An Empirical Analysis of Bids to Supply Electricity in England and Wales," RAND Journal of Economics, 1998, Vol. 29 (Winter): 703-725.

• "Measuring Duopoly Power in the British Electricity Spot Market," American Economic Review, 1999, Vol. 89 (September): 805-826.

• “Has the “Million-Dollar Cap” Affected CEO Pay?” with Nancy Rose, American Economic Review Papers and Proceedings, 2000, Vol. 90 (May): 197-202.

• "Why Do Manufacturers Issue Coupons? An Empirical Analysis of Breakfast Cereals," with Aviv Nevo, RAND Journal of Economics, 2002, Vol. 33 (Summer): 319-339.

• “Regulating Executive Pay: Using the Tax Code to Influence Chief Executive Officer Compensation,” with Nancy L. Rose, Journal of Labor Economics, 2002, Vol. 20 (April): S138-S175.

• “Coordinating on Lower Prices:  Pharmaceutical Pricing under Political Pressure,” with Sara Fisher Ellison, RAND Journal of Economics, 2006, Vol. 37 (Summer): 325-341.

• "Do Markets Reduce Costs? Assessing the Impact of Regulatory Restructuring on U.S. Electric Generation Efficiency” with Kira Fabrizio and Nancy Rose, American Economic Review, 2007, Vol. 97 (September): 1250-1277.

  • Technical appendix.

  • Data files.

• “Inefficiencies and Market Power in Financial Arbitrage: A Study of California’s Electricity Markets,” with Severin Borenstein, James Bushnell, and Christopher Knittel, Journal of Industrial Economics, forthcoming.

• “Electricity Markets: Should the Rest of the World Adopt the United Kingdom’s Reforms?" Regulation, 1999, Vol. 22, (4): 48-53.

 

• “Comments on 'The Adoption and Impact of Advanced Emergency Response Services'," by Susan Athey and Scott Stern, and “Comments on 'Comparing Hospital Quality at For-Profit and Not-for-Profit Hospitals'," by Mark McClellan and Douglas Staiger, in David Cutler, ed., The Changing Hospital Industry. University of Chicago Press, 2000.

 

• “Pricing Security,” with L. Jean Camp, in L. Jean Camp and Stephen Lewis, eds., Economics of Information Security, vol. 12, Advances in Information Security. Springer-Kluwer, 2004.

 

• “The Efficiency of Electricity Generation in the U.S. After Restructuring,” in James Griffin and Steve Puller, eds., Electricity Deregulation: Choices and Challenges. University of Chicago Press, 2005.

• “Electricity Markets,” with James Bushnell, forthcoming in S. N. Durlauf and L. E. Blume, eds., The New Palgrave Dictionary of Economics.

• “Zonal Pricing and Demand-Side Responsiveness in the Norwegian Electricity Market,” with Tor Arnt Johnsen and Shashi Kant Verma, Power Working Paper 063.  Revisions requested from the Journal of Industrial Economics.

• “Competitive Bidding for the Early U.S. Airmail Routes."  Revisions requested from the Journal of Law and Economics.

• “Consumption and Changes in Home Energy Costs: How Prevalent is the ‘Heat or Eat’ Decision?” with Julie Cullen and Leora Friedberg.

• “Ownership Change, Incentives and Plant Efficiency: The Divestiture of U.S. Electric Generation Plants” with James Bushnell.

 

• “Enforcement of Vintage Differentiated Regulations: The Case of New Source Review,” with James Bushnell. 

• “The Guy at the Controls: Labor Quality and Power Plant Efficiency,” with James Bushnell. (Pictures of our data collection process: turbine hall, control room.)

• "Local Solutions to Global Problems: Policy Choice and Regulatory Jurisdiction," with James Bushnell and Carla Peterman.  Conditionally accepted, Review of Environmental Economics and Policy.

• "California’s Greenhouse Gas Policies: How Do They Add Up?" with James Bushnell and Carla Peterman.

• “Sacred Cars? Optimal Regulation of Stationary and Non-stationary Pollution Sources,” with Meredith Fowlie and Christopher Knittel.

• “Estimating Unobserved Costs for an Electric Utility Generator,” with Ariel Pakes and Jack Porter.

• “Labor Force Participation among Highly Educated Mothers,” with Jane Leber Herr.
   

PROFESSIONAL ACTIVITIES

Research Associate, National Bureau of Economic Research.

Board of Editors, The Energy Journal.

Associate Editor, Journal of Industrial Economics.

Co-Executive Director, Center for Energy and Environmental Innovation at Berkeley.