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University of Iowa News Release


Aug. 10, 2007

Geweke New Head Of UI State Economic Forecasting Center

John Geweke, professor of economics and statistics at the University of Iowa, is the new director of the UI Institute for Economic Research, a research center in the Tippie College of Business that provides economic forecasts to state government leaders.

Geweke holds the Harlan McGregor Chair in economic theory at the university. He has taught at UI since 1999 with a teaching and research focus on theoretical and applied econometrics. His expertise is in Bayesian econometrics and statistics, time series analysis and financial economics.

He has been a fellow of the Econometric Society since 1982 and the American Statistical Association since 1990, and was president of the International Society for Bayesian Analysis in 1999. He also serves on the editorial and advisory boards of numerous economics journals and international societies.

The Institute for Economic Research serves Iowans as an advisory group to the Governor's Council of Economic Advisors. The council's discussions are in turn used by the state's Revenue Estimating Conference in determining the official prediction of the rate of growth of tax revenues for the coming two fiscal years. The Board of Regents created the institute in 1975 to facilitate cohesive and continuing economic research, and to establish a formal mechanism for providing interaction with, and economic research services to, government and industry. Each quarter, the institute produces the Iowa Economic Forecast, which contains quantitative forecasts of economic conditions and tax revenues for the State of Iowa, using the latest advances in econometrics.

Geweke replaces Charles Whiteman, who stepped down after his term expired in July to focus on his work as senior associate dean of the Tippie College of Business. He had headed the institute most recently since 2003. His previous tenure as director was from 1990 to 1997.

STORY SOURCE: University of Iowa News Service, 300 Plaza Centre One, Iowa City, Iowa 52242-2500

MEDIA CONTACTS: John Geweke, 319-335-0857,; Tom Snee, 319-384-0010,