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Dec. 9: Economics professor publishes groundbreaking research

Thursday, December 9, 2010

FREDERICK, Md.—Groundbreaking research about automobile industry recalls by an economics professor at Hood College has been accepted for publication by two of the nation’s premier economics journals.

Yong-Kyun Bae, Ph.D., assistant professor of economics, along with Hugo Benitez-Silva, Ph.D., at State University of New York-Stonybrook, authored “Do Vehicle Recalls Reduce the Number of Accidents? The Case of the U.S. Car Market.” The article will appear in the Journal of Policy Analysis and Management, one of the top peer-reviewed economics and public policy journals.

A second research paper, also co-authored with Benitez-Silva, entitled “The Effects of Automobiles Recalls on the Severity of Accidents,” will be published in the Economic Inquiry, widely regarded as one of the top scholarly journals in its field. In publication since 1962, EI boasts nine Nobel laureates among its long list of prestigious authors.

The five-year-long research grew out of Bae’s interest in the economic and social aspects of product defects and consumer safety issues while studying U.S. tort liability law and its reform.

These two publications bring national recognition by regulators, policy makers, economists and consumer groups to Bae and to Hood. His research—which includes the only empirical papers that have investigated the effects of recall regulation on safety in the economics and public policy research fields—is being analyzed by the Government Accountability Office to support the U.S. Congress-requested reform of current recall regulation.