 | Economics and Accounting Ph.D. Economics, Harvard University Fields: Macroeconomics, Finance, Behavioral Economics, Expectations, and Learning Email: dtortori@holycross.edu Office Phone: 508-793-3873 |
Office: Stein Hall 505
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Research
Working Papers
"Asserting Independence: Optimal Monetary Policy When the Central Bank and Political Authority Disagree" (joint w/ Justin Svec)
"A Theory of Social Impact Bonds" (joint w/ David Bloom, Paige Kirby, and John Regan) [Presentation Slides]
Presentations
"Vaccine Coverage and Development: Value, Spending, and Financing" (w/ David Bloom)
Publications
“The global macroeconomic burden of Alzheimer’s disease and other dementias: estimates and projections for 152 countries or territories” (w/ S. Chen, Z. Cao, A.Nandi, N. Counts, L. Jiao, K. Prettner, M. Kuhn, B. Seligman, D. Vido, C. Wang and D. Bloom), The Lancet Global Health, Vol 12, No. 9, September 2024.
“The Economic Case for Scaling Up Health Research and Development: Lessons from the COVID-19 Pandemic”, (w/ R. Rappuoli and D. Bloom), Proceedings of the National Academy of Science (PNAS), Vol 121, No. 26, June 2024. [Replication Package]
“The Ten Trillion Dollar Disease,” (w/ David Bloom, Simiao Chen, Arindam Nandi, Zhong Cao, Nathaniel Counts, Maddalena Ferranna, Benjamin Seligman, and David Vigo), Scientific American, May 2024, Pages 24-31.
“Effective Health Aid: Evidence from Gavi’s Vaccine Program” (w/Gauri Kartini Shastry), AEJ:Economic Policy, Conditionally Accepted, January 2024
“Cost of care for Alzheimer’s disease and related dementias in the United States: 2016 to 2060” (w/ A. Nandi, N. Counts, J. Broker, S. Malik, S. Chen, R. Han, J. Klusty, B. Seligman, D. Vigo, D. Bloom), npj:Aging, Accepted, January 2024
“Lifecycle model-based evaluation of infant 4CMenB vaccination in the UK.” (w/ J.P Sevilla, D. Kantor, J. Regan, K.H. Meszaros, E.C. Beck, N. Begum and D. Bloom), The European Journal of Health Economics, pp.1-14. January 2024.
“Optimal Global Spending for Group A Streptococcus Vaccine Research and Development” (w/ M. Ferranna and D. Bloom), npj:Vaccines Vol 8, No. 62, April 2023.
“Global and regional projection of the economic burden of Alzheimer’s disease and related dementias from 2019 to 2050: a value of statistical life approach,” (w/ A. Nandi, N. Counts, S. Chen, B. Seligman, D. Vigo, D. Bloom) eClinicalMedicine, Vol 51, September 2022.
"The Trillion Dollar Vaccine Gap,” (w/ S. Pecetta, Simone, F. Scorza, M. Pizza, G. Dougan, R. Hatchett, S. Black, D. Bloom, and R. Rappuoli), Science Translational Medicine, Vol 14, No. 638 March 2022, pp.1-5.
“Dementia: Storm on the Horizon, (w/ Nathaniel Counts, Arindam Nandi, and Ben Seligman), Finance & Development, International Monetary Fund, December 2021, Pages 54-57. [World Economics Forum Blog Post]
“How New Models of Vaccine Development for COVID-19 Have Helped Address an Epic Public Health Crisis,” (w/ David Bloom, Dan Cadarette, Maddalena Ferranna, and Randy Hyer), Health Affairs, Vol. 40, No. 3, February 2021, pp.410-418. Working Paper Version
"Same Firm, Two Volatilities:How Variance Risk is priced in Credit and Equity Markets" (joint w/ Arben Kita), Journal of Corporate Finance, 69(C), August 2021, Article #101885. Working Paper Version
"Can Risk Models Extract Inflation Expectations from Financial Market Data? Evidence from the Inflation Protected Securities of Six Countries" (joint w/ Arben Kita), Journal of Money, Credit and Banking, Vol. 53, Issue 6, September 2021, pp. 1417-1448. Working Paper Version
“An Ounce of Prevention,” (w/ David Bloom and Daniel Cadarette), Finance & Development, International Monetary Fund, September 2020, Pages 54-57.
“PIN43 Lifecycle-model-based Economic Evaluation of Infant Meningitis B Vaccination in the UK,” (w/ J. Sevilla, D. Kantor, D. Bloom, C.Hogea, E. Beck), Value in Health, Vol. 22, Sup. 3, November 2019, pp. S647.
"Long Run Expectations, Learning and the U.S. Housing Market", Eastern Economic Journal, Vol. 45, Issue 4, October 2019, pp. 497-531. Working Paper Version.
"The Business Cycles Implications of Fluctuating Long Run Expectations" (Presentation Slides), Journal of Macroeconomics, Vol. 58, December 2018, Pages 266-291. Working Paper Version
"Equity Return Predictability, Time Varying Volatility and Learning About the Permanence of Shocks" (Presentation Slides), Journal of Economic Behavior and Organization, Vol. 148 C, April 2018, Pages 315-343. Working Paper Version
“Restructuring China’s Research Institutes: Impact on China’s Research Orientation and Productivity” Economics of Transition, Vol. 24, Pages 163–208, January 2016 (joint w/ Gary Jefferson and Renai Jiang) Working Paper Version
"Credit Constraints, Learning and Aggregate Consumption Volatility", Macroeconomic Dynamics, Vol. 18, Pages 338–368, March 2014. Working Paper Version
“Endogenous Separation, Wage Rigidity and the Dynamics of Unemployment” Journal of Macroeconomics, Vol. 38, Part B, Pages 179-191, Dec. 2013. Working Paper Version
"Unemployment Expectations and the Business Cycle", The B.E. Journal of Macroeconomics (Topics), Volume 12, Issue 1, Pages 1–47, January 2012. Working Paper Version
"Objective and self-report work performance measures: a comparative analysis" (Joint with: Glenn Pransky, Stan Finkelstein, Ernst Berndt, Margaret Kyle, Joan Mackell) International Journal of Productivity and Performance Management, 2006, Vol. 55, Issue 5, pp. 390 - 399
“Measuring health impacts on work performance: Comparing subjective and objective reports,” (Join with with Glenn Pransky, Ernst Berndt, Stan Finkelstein, Maragret Kyle and Joan Mackell), Value in Health 5(6), Pages 448-449, 2002.
Teaching
Econ 256 -- Macroeconomics [Syllabus]
In this course we first discuss how to measure inflation, national income, and unemployment. Then we develop models of how policy affects these variables. We study both the short-term and long-run effects of policy on economic well-being as well as the most influential theories of long-run economic growth.
Econ 249 -- Statistics [Syllabus]
This course serves as an introduction to statistics, the analysis of quantitative observations known as data. We will learn how to summarize data both graphically and numerically. We will study probability theory and the techniques needed to determine if observations represent real differences or random chance. Finally, the last third of the class introduces linear regression models. Additionally, the course will introduce students to statistical analysis in Excel.
Econ 332 -- Financial Economics [Syllabus]
This course serves as an introduction to modern financial economics. Topics we will cover include: pricing of fixed income securities, equity evaluation, portfolio choice and options.
Econ 266 -- Quantitative Macroeconomics [Syllabus]
This course extends static models of economic fluctuations (e.g. IS-LM/AS-AD) to a dynamic context. We learn how to solve these models using computer software such as Excel and Matab. Additionally, students will gather economic data from online sources and learn to manipulate it using software applications such as Excel and Matlab. Finally, students will learn numerical techniques for forecasting these macroeconomic time series. The goal of the course is to bring the theoretical concepts from Econ 256 to life through analysis of macroeconomic data and macroeconomic forecasting applications.