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Lawrence M v D Schloss Economics Prize



2015 Recipient: James R. Alm

Mr. Lawrence M. v. D. Schloss, 1976 cum laude graduate from Tulane University, now President of Angelo, Gordon & Co., an alternative investment manager, and member of its executive committee, has endowed a Lawrence M. v. D. Schloss Prize for Excellence in Economics. “The Schloss Prize is to be offered to outstanding full professors, associate professors, or assistant professors, or graduate or undergraduate students, who do outstanding work in the Department of Economics.”

Mr. Schloss has had a distinguished career in the financial services industry. Following his 1976 graduation from Tulane, he earned an MBA from The Wharton School of The University of Pennsylvania in 1978. He then joined Donaldson, Lufkin & Jenrette (DLJ) in 1978 as an investment banker, and during his 22 years at DLJ rose to become Chairman of DLJ's Merchant Banking Division. Upon the acquisition of DLJ by Credit Suisse in 2000, he became the Global Head of CSFB Private Equity, its $32 billion alternative asset investment management business. In 2004, he founded and became Chairman and Chief Executive Office of Diamond Castle Holdings, a private equity firm. In 2010 he was appointed New York City's Deputy Comptroller for Pensions and the Chief Investment Officer and Trustee of the New York City pension funds, whose assets grew from $100 billion to $145 billion under his leadership. He was named 2012 CIO of The Year - Large Public Pension Funds by Institutional Investor.

In addition to serving on the Board of Trustees of Tulane University, Mr. Schloss is a member of the New York Police and Fire Widows' Fund and the Children's Benefit Fund, and he has served on the boards of directors of numerous public and private companies.

The 2015 recipient of the Schloss Prize is James R. Alm for Excellence in Research.

James R. Alm is Professor and Chair of the Department of Economics and he is the President-Elect and Program Chair of the Southern Economic Association. Jim’s most recent research areas include tax compliance and tax evasion, the marriage tax, tax and expenditure limitations, tax amnesties, taxpayer responses to tax reforms, enterprise zones, the determinants of state economic growth, and corruption. He also has worked extensively on fiscal and decentralization reforms in numerous countries, including Bangladesh, Jamaica, Grenada, Indonesia, Turkey, Hungary, China, Egypt, the Philippines, Russia, Uganda, Nigeria, India, Colombia, Nepal, Ukraine, Pakistan, and South Africa. Jim's international projects have been funded by the World Bank, the U.S. Agency for International Development, the United Nations Development Program, and the International Monetary Fund.

Schloss 2015
James R. Alm

Jim is Editor of Public Finance Review, and he has served on the editorial boards of Review of Economics of the Household, Economic Inquiry, Public Finance Review, National Tax Journal, Economics - ejournal, Economic Analysis and Policy, Public Budgeting & Finance, International Journal of Financial Studies, Journal of Tax Administration, Paradigms, and Actual Problems of Economics and Law. His work has been published in The American Economic Review, The Journal of Economic Perspectives, The Review of Economics and Statistics, Economica, Economic Inquiry, Southern Economic Journal, Kyklos, Journal of Public Economics, Journal of Urban Economics, Journal of Development Economics, Journal of Human Resources, National Tax Journal, Public Finance Review, International Tax and Public Finance, Public Choice, Publius, Public Finance/Finances Publiques, Journal of Policy Analysis and Management, Regional Science and Urban Economics, Journal of Economic Behavior and Organization, Journal of Economic Psychology, The Manchester School, Oxford Development Studies, Economics of Education Review, Economic Analysis and Policy, and Journal of Development Studies, among others. His work has also been noted in articles in the Washington Post, The Wall Street Journal, The Boston Globe, Forbes, Business Week, and Bloomberg. Prior to coming to Tulane University as chair of the department of economics, Alm served as chair of the economics department in the Andrew Young School of Policy Studies at Georgia State University and also as dean of the school.


Jim’s recent research accomplishments are truly outstanding. In the last year, Jim has had twenty-one articles, five book chapters, and two books published (or accepted for publication), including:

• “Analyzing and Reforming Tunisia’s Tax System,” forthcoming in M. Mustafa Erdogdu, ed., Comparative Economic Perspectives on Europe and the MENA Region (Hershey, PA: IGI Global).
• “Applying Behavioral Economics to Public Budgeting and Finance” (with Carolyn J. Bourdeaux), Review of Public Economics/Hacienda Publica Española, Vol. 3 (2014), 91-134.
Behavioral Responses to Taxation, James Alm and J. Sebastian Leguizamon, eds. (Cheltenham, UK – Northampton, MA: Edward Elgar Publishing), forthcoming.
• “China’s Tax-for-Fee Reform and Village Inequality” (with Yongzheng Liu), Oxford Development Studies, Vol. 42, No. 1 (2014), 38-64.
• “Comments on Jagadeesh Gokhale's ‘Social Security’s Financial Outlook and Reforms: An Independent Evaluation’,” in John W. Diamond and George R. Zodrow, eds., Pathways to Fiscal Reform (Cambridge, MA: The MIT Press, 2014), 121-128.
• “Detroit Property Tax Delinquency – Social Contract in Crisis” (with Timothy R. Hodge, Gary Sands, and Mark Skidmore), Public Finance and Management, Vol. 14, No. 3 (2015), 280-305.
• “Did Latvia’s Flat Tax Reform Improve Economic Growth?” (with Bibek Adhikari), forthcoming in National Tax Association, Proceedings of the 106th Annual Conference on Taxation, Tampa, FL.
• “Does an Uncertain Tax System Encourage ‘Aggressive Tax Planning’?”, Economic Analysis and Policy, Vol. 44, No. 1 (March 2014), 30-38.
• “Environmental Enforcement and Compliance: Lessons from Pollution, Safety, and Tax Settings” (with Jay Shimshack), Foundations and Trends in Microeconomics, Vol. 10, No. 4 (2014), 209-274.
• “Estimating Tax Agency Efficiency” (with Denvil Duncan), Public Budgeting & Finance, Vol. 34, No. 3 (Fall 2014), 92-110.
• “Estimating the ‘Tax Gap’ at the State Level: The Case of Georgia’s Personal Income Tax,” Public Budgeting & Finance, Vol. 34, No. 4 (Winter 2014), 61-79.
• “Expanding the Theory of Tax Compliance from Individual to Group Motivations,” in Francesco Forte, Ram Mudambi, and Pietro Navarra, eds., Handbook of Alternative Theories in Public Economics (Cheltenham, UK – Northampton, MA: Edward Elgar Publishing, 2014), 260-277.
• “Foreclosures and Local Government Revenues from the Property Tax: The Case of Georgia School Districts” (with Robert D. Buschman and David L. Sjoquist), Regional Science and Urban Economics, Vol. 46 (May 2014), 1-11.
• "How Did Foreclosures Affect Property Tax Values of Georgia School Districts?" (with Robert D. Buschman and David L. Sjoquist), National Tax Association, Proceedings of the 105th Annual Conference on Taxation, 2012, Providence, RI (2014), 114-119.
• “Improving Tax Basis Reporting for Pass-through Entities” (with Jay A. Soled), Tax Notes, Vol. 143, No. 13 7 (May 19, 2014), 809-818.
• “On the External Validity of Tax Compliance Experiments” (with Kim M. Bloomquist and Michael McKee), forthcoming in Economic Inquiry.
• “Re-designing Equalization Transfers: An Application to South Africa’s Provincial Equitable Share” (with Jorge Martinez-Vazquez), The Journal of Developing Areas, Vol. 49, No. 1 (Winter 2015), 1-22.
• “Revisiting the Income Tax Consequences of Legalizing Same-sex Marriage” (with Susane Leguizamon and J. Sebastian Leguizamon), Journal of Policy Analysis and Management, Vol. 33, No. 2 (Spring 2014), 263-289.
• "State Government Revenue Recovery from the Great Recession" (with David L. Sjoquist), State and Local Government Review, Vol. 46, No. 3 (September 2014), 164-172.
• “Sympathy, Empathy, and Tax Compliance” (with Roberta Calvet Christian), Journal of Economic Psychology, Vol. 40 (February 2014), 62-82.
• “Tax Basis Determinations, Pass-Through Entities, and Taxpayer Noncompliance” (with Jay A. Soled), Ohio University Law Review, Vol. 40, Issue 3 (2014), 693-741.
• “Tax Evasion, Labor Market Effects, and Income Distribution,” IZA World of Labor, 91 (October 2014), available online at http://wol.iza.org/articles/tax-evasion-labor-market-effects-and-income-distribution (DOI: 10.15185/izawol.91).
Tax Reform in Developing Countries, Volumes I and II, James Alm and Jorge Martinez-Vazquez, eds. (Cheltenham, UK – Northampton, MA: Edward Elgar Publishing), forthcoming.
• “Understanding and Combatting Tax Evasion,” IEB Report – Fiscal Fraud, Institut d’ Economia de Barcelona (Barcelona, Spain), 3/1014, 11-15.
• “Whither the Marriage Tax?” (with J. Sebastian Leguizamon), forthcoming in National Tax Journal.
• “Would a Transparent Tax System Discourage ‘Aggressive Tax Planning’?” forthcoming in Eurico Marcos Diniz de Santi, ed., Fiscal Transparency and Development.
• “Assessing and Reforming Enterprise Taxation in Pakistan” (with Mir Ahmad Khan), forthcoming in Ehtisham Ahmad and Jorge Martinez-Vazquez, eds., Tax Reform in Pakistan (Cambridge, UK: Cambridge University Press).
• “Municipal Finance of Urban Infrastructure: Knowns and Unknowns”, forthcoming in Journal of Economic Surveys.

Jim has also been very successful in generating external support for his research. Just in the last year, he has received grants totaling over $1 million from:

• Australia Research Council, “Human Nature and Social Institutions as a Living System,” $600,000.
• Bill and Melinda Gates Foundation, “The Impact of Fiscal Policy on Inequality and Poverty in Low-Income Countries: Applying the Commitment to Equity (CEQ) Framework to Ghana and Tanzania” (Nora Lustig, PI), $581,162.

More details on Jim’s activities can be found on his Tulane website, at http://econ.tulane.edu/profile_alm.shtml.

The Department of Economics is proud of Jim’s accomplishments. The Department’s selection committee (Alan Barreca, Doug Harris, and Jon Pritchett) was unanimous in recommending that Jim Alm be the 2015 recipient of the Lawrence M. v. D. Schloss Prize for Excellence in Economics. The committee selected the recipient in consultation with, and with the approval of, SLA Dean Carole Haber.

The Department of Economics is grateful to Mr. Schloss for his generous and ongoing support, which has made possible the recognition of Jim’s accomplishments. Previous Schloss Prize winners are Marco Castaneda (2009), Jay Shimshack (2010), Stefano Barbieri (2011), Keith Finlay and Douglas Nelson (2012), Alan Barreca (2013), Jon Pritchett (2013), and Doug Harris and Sean Higgins (2014).

 

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