The University of Western Australia

UWA Staff Profile

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Peter Hartley

Professor Peter Hartley

BHP Billiton Chair
Economics (UWA Business School)

Contact details
Address
Economics (UWA Business School)
The University of Western Australia (M251)
35 Stirling Highway
CRAWLEY WA 6009
Australia
Phone
+61 8 6488 8560
Email
peter.hartley@uwa.edu.au
Biography
Originally from the North Coast of NSW, I attended Richmond River High School in Lismore. I was awarded a National Undergraduate Scholarship to attend ANU, where I completed a degree in Pure Mathematics with First Class Honors, with Applied Mathematics and Statistics as minors. Upon graduation, I joined the Priorities Review Staff and then the Economic Division of the Department of Prime Minister and Cabinet while working on a Masters Degree in Economics at the ANU. After completing my PhD at the University of Chicago, I obtained an Assistant Professor position at Princeton University. I moved to Rice University as an Associate Professor of Economics in 1986 and was awarded the George & Cynthia Mitchell Chair in Economics in 2007. I served as Chair of the Department of Economics from 2000-2005. I have also held visiting positions at Monash University, the University of Melbourne and the ANU. I also worked for the Centre of Policy Studies at Monash University and the Tasman Institute in Melbourne, and the NZ Business Roundtable.
Key research
Energy economics with a focus on natural gas and electricity
Environmental economics
Money, banking and household borrowing
Dynamic optimisation
Publications
Journal Articles (Scholarly Refereed, 2008-present)
“The Future of Long-term LNG Contracts” forthcoming The Energy Journal, 2014
“The Relationship between Crude Oil and Natural Gas Prices: The Role of the Exchange Rate”, joint with Kenneth B. Medlock III, forthcoming The Energy Journal, 2014
“Changes in the Operational Efficiency of National Oil Companies”, joint with Kenneth Medlock III, The Energy Journal, 2013, 34 (2): 27–57
“Empirical Evidence on the Operational Efficiency of National Oil Companies,” joint with Stacy Eller and Kenneth Medlock III, Empirical Economics, 2011, 40 (3): 623-643
“Potential Futures for Russian Natural Gas Exports,” joint with Kenneth Medlock III, The Energy Journal, 2009 Special Issue, 73–95.
“A Model of the Operation and Development of a National Oil Company,” joint with Kenneth Medlock III, Energy Economics, 30(5) September 2008, pp 2459-2485.
“The Relationship between Crude Oil and Natural Gas Prices,” joint with Jennifer Rosthal and Kenneth Medlock III, The Energy Journal, 29(3) June 2008, pp 47–65.
“Optimal Dynamic Production from a Large Oil Field in Saudi Arabia,” joint with Jack Gao and Robin Sickles, Empirical Economics, 2008

Journal Articles (Scholarly refereed, selected additional articles)
“Expectations and the Evolving World Gas Market,” joint with Dagobert Brito, The Energy Journal, 28(1) January 2007, pp 1–24.
“Macroeconomic fluctuations: Demand or supply, permanent or temporary?” with Joseph A. Whitt, Jr. European Economic Review, volume 47 no. 1 (February 2003), pp. 61-94.
“Inside Money as a Source of Investment Finance”, Journal of Money, Credit and Banking, vol 30 (2, May, 1998): 193–217.
“Numerical Approximation of a Value Function in the Presence of Inequality Constraints: An Application to the Demand for Credit Cards”, Journal of Economic Dynamics and Control, Vol 20, 1996, 63-92.
“Consumer Rationality and Credit Cards”, joint with Dagobert L. Brito, Journal of Political Economy, April 1995, 400-433.
“Interest Rates in a Credit Constrained Economy”, International Economic Review, February 1994, Vol 35, No. 1, 23-60.
“A Generalized Method of Moments Approach to Estimating a Structural Vector Autoregression”, joint with Carl E. Walsh, Journal of Macroeconomics, 199-232, Vol 14(2), Spring 1992.
“Hoarding in General Equilibrium”, Economica, 467-483, vol 57 (228) November, 1990
“East-West Airlines Sydney-Melbourne Service: Market Expansion or Demand Diversion?”, joint with C. D. Trengove, The Economic Record, vol 66 (194), 203-220, September 1990. Chosen as the best paper published in The Economic Record in 1990.
“Equilibrium in an Industry with Lumpy Investment”, joint with A.S. Kyle, The Economic Journal, 392-407, June 1989.
“The Liquidity Services of Money”, International Economic Review, 1–24, vol 29 (1) February, 1988
“Who Benefits from Public Utilities?”, joint with C.D. Trengove, The Economic Record, 163-179, June 1986.
“The Marginal Cost of Electricity Supply in Victoria”, joint with C.D. Trengove, The Economic Record, 60, 340-355, 1984.

Books
Monetary Arrangements in New Zealand, Wellington: The New Zealand Business Roundtable, July, 2001
Equity as a Social Goal, with Cathy L. Buchanan, Wellington: The New Zealand Business Roundtable, June, 2000.
Conservation Strategies for New Zealand, Wellington: The New Zealand Business Roundtable, December, 1997.
The Economic Theory of Crime and Crime in New Zealand, with Cathy L. Buchanan, Wellington: The New Zealand Business Roundtable, 1996.
Criminal Choice: The Economic Theory of Crime and its Implications for Crime Control, with Cathy L. Buchanan, Sydney: Centre for Independent Studies, 1992.

Book Chapters (selected)
“The Baker Institute World Gas Trade Model,” joint with Kenneth Medlock III, chapter 11 of Natural Gas and Geopolitics: From 1970 to 2040, edited by David Victor, Amy Jaffe and Mark Hayes, Cambridge UK: Cambridge University Press, 2006
“Political and Economic Influences on the Future World Market for Natural Gas,” joint with Kenneth Medlock III, chapter 12 of Natural Gas and Geopolitics: From 1970 to 2040, edited by David Victor, Amy Jaffe and Mark Hayes, Cambridge UK: Cambridge University Press, 2006
“Financial Intermediation,” Business Cycles and Depressions, An Encyclopedia, David Glasner, ed., New York: Garland Publishing, Inc., 1997: 231-233, with Carl E. Walsh.
“Rational Expectations and the Foreign Exchange Market”, in Jacob. A. Frenkel (ed.), Exchange Rates and International Macroeconomics, University of Chicago Press, N.B.E.R., 1984.
“Ownership, Diversification and Risk - the Impact of the Mineral Sector” in The Minerals Sector and the Australian Economy, M.G. Porter and L.H. Cook (eds.), Sydney: Allen and Unwin, 1984.
Roles, responsibilities and expertise
BHPBilliton Professor of Energy and Resource Economics
Expertise especially in energy and resource economics
Future research
Energy economics
Funding received
James A. Baker III Institute for Public Policy
McGovern Foundation
National Science Foundation
New Zealand Business Roundtable
Exxon-Mobil Corporation
Industrial relevance
I have served as a consultant to private firms and government entities in the energy industry or on energy industry matters.
Languages
Programming skills in MatLab and Stata
Memberships
US Association for Energy Economics
International Association for Energy Economics
Association for Environmental and Resource Economics
American Economics Association
Honours and awards
President of the US Association for Energy Economics, 2012
President Elect of the International Association for Energy Economics, 2014
Senior Fellow Award from the US Association for Energy Economics, 2011
Shared in Adelman/Frankel Award received by the James A. Baker III Institute for Public Policy Center for Energy Studies, 2013
Best Paper Award, Economic Record, 1990
Lily Honor Scholarship, University of Chicago, 1977-80
Masters Scholarship, ANU, 1976-77
Australian Statistical Society Prize, 1973
National Undergraduate Scholarship, ANU, 1971-74
Previous positions
George & Cynthia Mitchell Professor of Economics, Rice University, 2007-present
Professor of Economics, Rice University, 1993-2007
Associate Professor of Economics, Rice University, 1986-1993
Rice Scholar in Energy Studies, James A. Baker III Institute for Public Policy, Rice University, 1999-present
Academic Director, Shell Center for Sustainable Development, Rice University, 2007-2010
Professor at Large, UWA, 2011-2012
Assistant Professor, Princeton University, 1980-1986
Visiting Professor, University of Melbourne, 1996-1997
Visiting Professor, ANU, 1992-1995
Executive Director, Tasman Institute, Melbourne, 1996-1997
Visiting Professorial Fellow, Tasman Institute, Melbourne, 1990-1992
Visiting Professorial Fellow Centre of Policy Studies, Monash University, 1987-1989
Visiting Senior Research Fellow Centre of Policy Studies, Monash University, 1980-1986
Priorities Review Staff, Department of Prime Minister & Cabinet, 1975-1976
Economic Division, Department of Prime Minister & Cabinet, 1976-1977
Teaching
MGMT5615 Selected Topics in Management: Global Energy and Mineral Markets (2014)
Current external positions
George & Cynthia Mitchell Professor of Economics, Rice University
Rice Scholar in Energy Studies, James A. Baker III Institute for Public Policy, Rice University
Research profile
Research profile and publications
 

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