To honor the memory and legacy of Dr. John Van Huyck, the Dr. John Van Huyck Fellows Program provides support for a PhD student in the TAMU Department of Economics to carry out experimental research. The Dr. John Van Huyck Fellows Endowed Program was established through the generous philanthropy of Mr. Alfred P. Van Huyck and Mrs. Nancy Van Huyck Chockley. The Program provides up to $5,000 of funding for laboratory experiments conducted in the Economic Research Laboratory or for field experiments. This year the recipient of the award is Ryan Rholes.
Ryan Rholes is a fourth-year PhD candidate whose research focuses on using laboratory experiments to test economic theories in the field of macroeconomics. He is currently conducting several macro-related experimental projects. His primary project, inspired by the economic recession that began in 2008, uses a lab-experimental economy to test theories of “secular stagnation,” which is a period of prolonged, as opposed to cyclical, low economic growth. His goal with this experiment is to create an experimental economy in the laboratory within which he are able to trigger a permanent decline in economic activity, along with falling prices, so that we can then explore various methods of repairing this economy. In particular, he is interested in what actions a central bank might take (monetary policy) and what actions policy makers might take (fiscal policy) to restore our experimental economy to full health. Further, he focuses on potential remedies that improve economic conditions by making people more optimistic about future economic conditions.
John Van Huyck actually started his career as a macroeconomist. He published several important papers on monetary policy, with an emphasis on the role of reputation—and reputation later became a major theme in his experimental work. Thus Ryan’s research program fits well with our desire to honor John’s academic legacy through this Fellowship.
If you would like to contribute to the The Dr. John Van Huyck Fellows Endowed Program, please make your gift payable to the Texas A&M Foundation.