Gerald O. Bierwag

Background

Bierwag, Gerald O. was born on February 4, 1936 in Rupert, Idaho, United States. Son of Frederick R. and Ida R. (Mehrer) Bierwag.

Education

Bachelor of Arts University Idaho, 1958. Doctor of Philosophy Northwestern University, 1962.

Career

Assistant Professor, Association Professor, Professor of Economics, University Oregon, 1962-1965, 1966-1968, 1968-1982. Visiting Professor of Economics, Warwick University, 1968-1969. Visiting Professor Finance, University Arizona, 1981-1982.

Professor Economics and Finance, College Business and Public Administration, University Arizona, Tucson, Arizona, since 1982. Editorial Board, American Economic Review,

1981-1984, J. Finance Research, since 1981. Association Editor, J. Finance and Quantitative Analysis, since 1977, El, 1977-1980.

Works

More photos

• Other Work

  • The model for term structure of interest rates -- theory and empirical method/sereis of management decision and the information system (Chinese Edition)

    (This book systematically studies the static term structur...)

Views

Chronologically, principal contributions and interests developed as follows:

The application of linear programming techniques to determine optimal land reform schemes, and a demonstration of their second-best properties that arise because optimal farm sizes cannot change quickly in response to changes in product prices (1962-1964). Innovations in production techniques, balanced growth of LDCs, and the international terms of trade. This research explores the implications of Hicksian production innovations for LDC growth and investment policies and the terms of trade (1962-1964).

Optimal portfolio selections and the term structure of interest rates. Studies of diversification and equilibrium term structures under the expectations hypothesis. This research explored the econometric applications of new distributed lag techniques to term structure movements (1964-1971).

Optimal micro-economic decision-making under uncertainty under the expected utility hypothesis (1971-1974). Optimal bidding constraints on competitive municipal bond issues. This research led to practical procedures for minimising interest costs.

The developed techniques are in common use today (1974-1978). Immunisation of portfolios of fixed income securities so as to avoid risks inherent in volatile interest rates. Procedures in common use by pension funds and other investing institutions in the United States.

This research has led to measurements of risk undertaken in non-immunised portfolios. Methods were devised for the empirical estimation of equilibrium models of bond pricing (1976-1980). Applications of immunisation procedures to management techniques of depository institutions and the measurement of pertinent interest-rate risk.

Some of this research may be relevant to the eventual imposition of risk sensitive deposit insurance premiums (1980-1984).

Membership

Member American Economic Association (board editors l98l-83), Western Finance Association (president l986-87), American Finance Association, Society for Finance Studies, Finance Management Association (vice president since 1998), Institute Chartered Finance Analysts (board directors Research Foundation l987-92).

Connections

Married Mildred A. Kroetch, August l4, l959. Children: Morella, Alexander.

Father:

Frederick R. Bierwag

Mother:

Ida R. (Mehrer) Bierwag

Spouse:

Mildred A. Kroetch

child:

Morella Bierwag

child:

Alexander Bierwag