David Stockman

Professor of Economics

Department: Economics
Campus Address: 414 Purnell Hall
Newark, DE 19716
Phone: 302-831-1903


Research Interests:

  • Macroeconomics
  • Optimal fiscal and monetary policy
  • Indeterminacy and chaos in dynamic general equilibrium models


  • Ph.D., Economics, University of Chicago
  • B.A., Mathematics and Economics, University of Missouri
  • Curriculum Vitae
  • Website


  • "Chaotic Sets and Euler Equation Branching,'' (with Brian Raines), forthcoming, Journal of Mathematical Economics
  • "Fixed points imply chaos for a class of differential inclusions that arise in economic models,'' (with Brian Raines), forthcoming, Transactions of the American Mathematical Society
  • "Chaos and Capacity Utilization under Increasing Returns to Scale," forthcoming, Journal of Economic Behavior & Organization
  • "Basins of Measures on Inverse Limit Spaces for the Induced Homeomorphism," (with Judy Kennedy and Brian Raines),Ergodic Theory and Dynamical Systems, Volume 30, Issue 04, August 2010, pp. 1119-1130.
  • "Balanced-Budget Rules: Chaos and Deterministic Sunspots," Journal of Economic Theory, Volume 145, Issue 3, May 2010, pp. 1060-1085.
  • "Chaos and Sector-Specific Externalities," Journal of Economic Dynamics & Control, Volume 33,   Issue 12, pp. 2030-2046 ,December 2009.
  • "Uniform Measures on Inverse Limit Spaces," Applicable Analysis, Applicable Analysis, Volume 88, No. 2, pp. 293--299, February 2009.
  • "The Inverse Limits Approach to Chaos," (with Judy Kennedy and James Yorke),Journal of Mathematical  Economics, Volume 44, Issues 5-6, pp. 423--444, April 2008.
  • "Chaotic Equilibria in Models with Backward Dynamics," Journal of Economic Dynamics and ControlVol. 32, 939–955, 2008.
  • "Sunspots in a Cash-in-Advance Model: A Quantitative Assessment," Journal of Macroeconomics, Vol. 29, Issue 1, pp. 123-144, March 2007.
  • "Inverse Limits and an Implicitly Defined Difference Equation from Economics" (with Judy Kennedy and James A. Yorke),Topology and Its Applications, Volume 154, Issue 13, 1 July 2007, pp. 2533-2552.
  • "Money as Real Options in a Cash-in-Advance Economy" (with Stacie Beck), Economics Letters, Vol. 87, pp. 337-345, 2005.
  • "Default, Reputation and Balanced-Budget Rules," Review of Economic Dynamics, Vol. 7, No. 2, pp. 382-405  April 2004.
  • "Balanced-Budget Rules: Welfare Loss and Optimal Policies," Review of Economic Dynamics, Vol. 4, no. 2, April, 2001.


  • Macroeconomics
  • Mathematical Economics

The Lerner College is home to a state-of-the-art financial trading facility, the $1.4 million student-led Blue Hen Investment Fund, a student-managed restaurant and hotel, a high-technology development center of a global bank and a start-up experience for students with new business ideas.

Lerner College faculty - like Anu Sivaraman, who is among Social Media Marketing Magazine’s “Top 100 Marketing Professors on Twitter” and’s “Top 50 Marketing Professors on Twitter” - are thought leaders who command attention from influential business audiences, economists and policy makers.

All Lerner College departments offer experience-driven learning and emphasize evidence-based analytics methods to enrich the student experience. Here, finance students visit New York City’s financial districts for a first-hand look at markets trading and to meet with UD alumni.

Charles W. Horn, AS75, and wife Patricia, recently made a $3 million commitment to enhance and expand entrepreneurial studies.

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