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Rajeev Dhawan

Carl R. Zwerner Chair of Economic Forecasting; Director, Economic Forecasting Center    

M.A., Delhi School of Economics
B.A., St. Stephen's College, Delhi University, India


National and regional economic forecasts
Econometric modeling
Macroeconomics and industrial organization
Macro-logistics and growth issues
Small business strategy and entrepreneurship
International Industry Comparisons


Rajeev Dhawan wears a dual hat as professor and director of the Economic Forecasting Center at the Robinson College of Business at Georgia State University in Atlanta, Georgia. As director of one of the country’s premier forecasting centers, Dhawan develops forecasts for the U.S., Southeast regional and local metro Atlanta economies. These forecasts are regularly published and presented to business executives and the media at the center’s popular, well-respected quarterly forecasting conferences. Dhawan has received several awards for his forecasting accuracy, including Pulsenomics Crystal Ball award for most accurate home price predictions from 2013 to 2015, and the most accurate GDP forecast by Bloomberg News in 2005. The Bank One Economic Outlook Center at Arizona State University in 2003 named him the most accurate forecaster for U.S. employment.

A sought-after international speaker, he has presented at conferences in Argentina, Australia, Canada, Chile, Dominican Republic, Dubai, France, Germany, Japan, the Netherlands, New Zealand, Spain, Sweden, Switzerland and across the U.S. As a consultant, he has been commissioned to prepare economic impact reports and home price forecast models, and provide public policy recommendations. Dhawan has served as an advisor to several local and state government agencies and numerous publicly held companies including The Coca-Cola Company, Georgia Power, Raymond James, and Turner Broadcasting. Dhawan has directed impact analysis studies for Amgen, Northrop Grumman, LA Development Corporation, the California Automobile Import Alliance and the California Energy Commission. He has served on the Georgia Governor’s Council of Economic Advisors since 2004.

A frequent guest on Cable News Network (CNN), Dhawan is sought after by print and broadcast media for his economic analysis and expertise. He has appeared on MSNBC, The Bloomberg Report, CNBC, and local affiliates of ABC, NBC, CBS, and Fox. He has also been quoted in many national and regional publications including the Wall Street Journal, Businessweek, Investor’s Business Daily, USA Today, the Los Angeles Times, Washington Post, San Francisco Chronicle and the Atlanta Journal-Constitution.

Dhawan’s academic research analyzes U.S. business cycles with a special emphasis on the role of credit markets on growth and survival of small firms. His international industry productivity comparison study examined factors that enabled Toyota to dominate not only U.S. companies, but also its Japanese counterparts. In his recent work, Dhawan has quantified the role and importance of oil prices in U.S. business cycle fluctuations. His research has been published in peer-reviewed academic journals such as Management Science, Journal of Money, Credit and Banking, Review of Economic Dynamics, Economic Inquiry, and Journal of Economic Behavior and Organization. He is also the author of Firm Size, Financial Intermediation and Business Cycles, which explores the effect of liquidity constraints on U.S. economic performance.

Prior to joining Georgia State University in the fall of 2000, he served as director of Econometric Forecasting at the Business Forecasting Project of the Anderson School of Business at UCLA. He also has taught at Pepperdine University and California State University at Long Beach. Dhawan earned a B.A. in economics with honors from St. Stephen’s College in India, an M.A. in economics from the Delhi School of Economics in India and a Ph.D. in economics from the University of California at Los Angeles.

  • “Productivity, Energy Prices and the Great Moderation: A New Link” (with K. Jeske and P. Silos), Review of Economic Dynamics, 13, July 2010, pp. 715-24.
  • “What Determines the Output Drop After an Energy Price Increase: Household or Firm Energy Share?” (with K. Jeske), Economics Letters, 101(3), December 2008, pp. 202-05.
  • “Energy Price Shocks and the Macroeconomy: The Role of Consumer Durables” (with K. Jeske), Journal of Money, Credit and Banking, 40(7), October 2008, pp. 1357-77.
  • “Assessing the Resource Base of Japanese and U.S. Auto Producers: A Stochastic Frontier Production Approach” (with M. Lieberman), Management Science, 51(7), July 2005, pp. 1060-75.
  • “Declining Share of Small Firms in U.S. Output: Causes and Consequences” (with J.T. Guo), Economic Inquiry, 39(3), October 2001, pp. 651-62.
  • “Firm Size and Productivity Differential: Theory and Evidence From a Panel of U.S. Firms,” Journal of Economic Behavior and Organization, 44(3), March 2001, pp. 269-93.
  • “Estimating Technological Change using a Stochastic Frontier Production Function Framework: Evidence from U.S. Firm-Level Data” (with G. Gerdes), Journal of Productivity Analysis, 8, November 1997, pp. 431-46.