Michael R. Donihue

Herbert E. Wadsworth 1892 Professor of Economics; Associate Vice President for Academic Affairs and Associate Dean of Faculty, 2008-2010

Box 5232

Phone: 207-859-5232
Fax: 207-859-5229
Mailing Address:
5232 Mayflower Hill
Waterville, Maine 04901-8852
Donihue, Michael R.


Ph.D. University of Michigan, 1989 (Economics)
M.A. University of Michigan, 1983 (Applied Economics)
B.A. Colby College, 1979 (Economics)

Areas of Expertise

  • Econometric modeling for policy analysis and forecasting
  • Macroeconomic policy

Courses Currently Teaching

CourseCourse Title
EC393 AEconometrics
EC393 BEconometrics
EC451 AEconomics Research
EC452 AEconomics Research
EC473 ASeminar: Data Analytics and Forecasting

Other Courses Taught

CourseCourse Title
EC345Research in Economics


Teaching Areas
Economic Forecasting
Macroeconomic Theory
Macroeconomic Principles
Mathematical Economics

Professional Information

Work Experience
Herbert E. Wadsworth Professor of Economics, Colby College, 2014-present
Professor of Economics, Colby College, 2007-2014
Associate Vice President for Academic Affairs and Associate Dean of Faculty, 2008-2011
Associate Professor of Economics, Colby College, 1996-2007
Assistant Professor of Economics, Colby College, 1989-1996
Visiting Scholar, Research Department, Federal Reserve Bank of Boston, 2004-2005
Senior Economist, Council of Economic Advisers, Washington, D.C., 1994-1995
Dana Fellow, Yale University, 1992

Maine Health Access Foundation, Grants Committee member, 2012 – 2016
Maine Consensus Economic Forecasting Commission, 1992-2009
CEME Model Comparison Seminar, 1985-1994, 1995-1998 (chair)

Consulting Activities
Analysis of attorney fees following the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 funded by the American Bankruptcy Institute, 2011.
Maine Development Foundation: Economic impact assessment of the current healthcare delivery system in the Kennebec Valley Region, 2009
Central Maine Power Company 1998, 2000-2002, 2006, 2010 (Demand Elasticity Estimation, Forecast Evaluation, Testimony before the Public Utilities Commission)
PGE Energy Trading, 2000 (Electricity Demand Forecasting)
Maine State Planning Office, 1999 (Economic Forecasting & Policy Analysis)
McCain Foods, 2002 (French Fry Market Demand Analysis & Contract Arbitration Testimony)

Current Research

“Explaining the Effect of the 2005 Bankruptcy Code Amendments on Creditor Distributions in Consumer Bankruptcies” (with Lois Lupica)

“The Effect of Temperature on the Supply and Demand for the American Lobster (Homarus americanus) in the State of Maine” (with Gaby Carpenter ’16). Invited paper presented at the 2016 Northeast Agricultural and Resource Economics Association (NAREA) workshop, June 22, 2016.


Google Scholar Profile

“A Case Study of the Economic Impact of Seasonal Visitors to a Lake Watershed Environment,” (with S. T. M. Dissanayake and L. O’Keeffe), Athens Journal of Tourism, Vol. 2, No. 2, June 2015, pp. 81-91.

“The Economic Impact of Shale Gas Development: A Natural Experiment along the New York and Pennsylvania Border” (with B. Cosgrove, D. LaFave, and S. T. M. Dissanayake), Agricultural and Resource Economics Review, August 2015.

“The Consumer Bankruptcy Fee Study: Final Report” (with Lois Lupica and Bodie Colwell), American Bankruptcy Institute, 2011.

Decomposing Consumer Wealth Effects: Evidence on the Role of Real Estate Assets Following the Wealth Cycle of 1990-2002 (with Andriy Avramenko '04), The B.E. Journal of Macroeconomics: 2007, Vol. 7: Issue 1 (Topics), Article 25.

"An Analysis of Attendance at Major League Baseball Spring Training Games" (with David W. Findlay and Peter Newberry '03). Journal of Sports Economics, Vol. 8, 2007.

"What's An Oscar Worth?" (with R.A. Nelson, D.M. Waldman, and C. Wheaton '92) Economic Inquiry, Vol. 39, 2001.

"The Troika Process: Economic Models and Macroeconomic Policy in the USA," (with John Kitchen) in Empirical Models and Policy Making: Interaction and Institutions, Frank A.G. den Butter and Mary S. Morgan, eds., Routledge Publishers, London, 2000.

"Do Faculty Salaries Rise With Job Seniority?" (with D.A. Barbezat) Economic Letters, Vol. 58, February 1998.

"Teaching Economic Forecasting to Undergraduates," The Journal of Economic Education, Vol. 26, Spring 1995.

Public Policy Work


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