B.A. in Economics from Rice University, 1964

M.A. in Economics from Rice University, 1965

Ph.D. in Economics from Northwestern University, 1971

Academic Career

1969-1979 Assistant and Associate Professor of Economics Cornell University – Ithaca, New York

1974-1975 Visiting Associate Professor of Economics Rice University – Houston, Texas

1986-1987 Adjunct Professor of Economics York College – York, Pennsylvania

1988-Present Professor of Economics University of Virginia – Charlottesville, Virginia

Business Career and Non-Academic Activities

1975-1985 Senior Vice President Smith Barney – New York, New York

1985-1987 Partner First Capital Strategists, Concepts – York, Pennsylvania

1985-1986 Consultant American Stock Exchange – New York, New York

1988-1994 President Rothschild Financial Services, Inc. – New York, New York

1994-1995 Member of Governor’s Commission on Governmental Reform Commonwealth of Virginia

1994-1995 Head of Investment Banking and Public Finance Interstate Johnson Lane, Inc – Charlotte, North Carolina

1994-1995 Board of Directors, Interstate Johnson Lane, Inc.

1995-1996 Chairman Special Committee of the VRS Regarding the RF&P Corporation

1994-1997 Member Investment Advisory Committee of the Virginia Retirement System

1996-1998 Board of Directors CapStar Hotels (CHO), publicly traded hotel firm now, after merger with American General, has become Meristar

1992-2000 Member, Children’s Medical Center Committee, University of Virginia

1996 – 2000 Member, Advisory Board, Norfolk State University School of Business

1997-2001 Chairman, Board of Trustees, Virginia Retirement System

1997-2001 Chairman, Administrative and Personnel Committee, Virginia Retirement System

1994 – 2001 Trustee, Commonwealth of Virginia Retirement System

1997 – 2003 Board of Directors, SNL Securities , private corporation

1998 – 2004 Board of Directors, Chmn of Compensation Committee Virginia National Bank

1987 – 2005 Consulting Economist to Laborers National Pension Fund Board

2003 – 2005 Regional Board of Directors of the Sorenson Institute, University of Virginia

2003 – 2005 Board of Health Sciences Foundation, University of Virginia

2004 – 2006 Consultant to Lehman Brothers

2004 – 2006 Consulting Economist to SNL Securities — Charlottesville, VA

1998-2007 Board of Managers, Smith Vicars & Company, L.L.C.

2005-2006 Consultant, HF Access

1997-1999 Honorary Advisory Board, Alfred Dofflemeyer Endowment Fund

1997 – 1999 Consulting Economist to Burning Daylight Management Fund

2010-2011 Chairman, Benefits & Actuarial Committee, Virginia Retirement System

1997-2014 Consulting Economist to the Securities Industry Association

1997 – Present Board of Directors, S L Green (SLG) , publicly traded REIT (office buildings) Chairman, Audit Committee

1998 – Present Board of Advisors, Gerson Lehrman Group

2000 – Present President, ETB Consulting

2003 – Present Fellow, Society of International Business Fellows

2004 – 2014 Trustee, Commonwealth of Virginia Retirement System

2007-Present Board of Directors, Chase Investment Counsel Corporation

2010- Present Member, United States Tennis Writers’ Associations

2010-2014 Member, Administrative and Personnel Committee, Virginia Retirement System

2011 – Present Consulting Economist to Danville Regional Authority Foundation Board May,

2012 – Present Consulting Economist to Pipeline Industry Benefit Fund May,

2012 – 2014 Board of Directors, Virginia National Bank

2013 – Present  Member, Philadelphia Society

2014 – Present  Member – Mont Pelerin Society

2016 – 2018  Member – Commission on Employee Retirement Security and Pension Reform for the Commonwealth of Virgina