Stephen Terry

Stephen Terry is an Associate Professor of Economics at the University of Michigan's College of Literature, Science, and the Arts. He is also a Research Associate at the National Bureau of Economic Research (NBER) and serves as Co-Editor of the Review of Economics and Statistics. His research focuses on macroeconomics, particularly firm investment and the impact of micro-level frictions on long-term growth and business cycles.

Dr. Terry received his PhD in Economics from Stanford University in 2015. Prior to joining the University of Michigan, he served as an Assistant Professor at Boston University.

Professor Terry's research spans several key areas in macroeconomics, with a particular emphasis on understanding how micro-level frictions affect macroeconomic outcomes. His work investigates firm investment behavior, economic growth dynamics, and business cycle fluctuations. He employs both theoretical models and empirical analysis to examine how factors like uncertainty, immigration, innovation, and financial constraints shape economic performance at the aggregate level. His research often bridges micro and macroeconomic perspectives to provide deeper insights into economic mechanisms, with special attention to how short-term phenomena can have long-term consequences for economic growth.

Analysis of Professor Terry's recent publications reveals a consistent focus on macroeconomic dynamics, particularly the relationship between micro-level frictions and macroeconomic outcomes. His work spans topics including economic uncertainty, firm dynamics, innovation, immigration effects, and business cycle analysis. A notable trend is his examination of how short-term phenomena can have long-term economic consequences, as seen in his research on short-termism and its macroeconomic impact. His collaborative work with leading economists across various institutions demonstrates the interdisciplinary nature of his research.

Professor Terry has earned significant recognition in his field:

• Research Associate, National Bureau of Economic Research (NBER)
• Co-Editor, Review of Economics and Statistics

As an academic advisor, Professor Terry has mentored numerous PhD and Master's students in economics. His research has been supported by various grants that have enabled extensive empirical analysis and theoretical modeling. His work on economic uncertainty, firm dynamics, and growth mechanisms has contributed significantly to our understanding of macroeconomic phenomena. Professor Terry actively collaborates with researchers across institutions, fostering interdisciplinary approaches to economic questions, and frequently participates in academic discussions at major conferences including the NBER Summer Institute.

Professor Terry is affiliated with several research groups at the University of Michigan, including the Research Seminar in Quantitative Economics (RSQE). His work connects with various subfields within economics, particularly Macroeconomics, and contributes to ongoing research in economic growth, business cycles, and firm dynamics. His position as Co-Editor of the Review of Economics and Statistics places him at the forefront of scholarly communication in economics.