Michael Boldin
Michael Boldin
Assistant Professor of Instruction
  • Office Location1810 Liacouras Walk, Room 370


Michael Boldin is an expert in using statistical software and building computer-based systems for managing and reporting financial and economic data. He has extensive profession experience in database management, modeling, forecasting, producing survey results, and seasonal adjustment procedures.

He received his PhD in Economics from the University of Pennsylvania. His fields of study were finance, monetary theory, and industrial organization. His dissertation title was “Business Cycles and Stock Market Volatility: Theory and Evidence of Animal Spirits”.

Dr. Boldin has worked in the Federal Reserve System and has lead and completed numerous private sector consulting projects. From 2001 to 2008, Dr. Boldin was the Director of Research Support Services at The Wharton School, University of Pennsylvania. Prior to that appointment he served as Director of Business Cycle Research at the Conference Board. He has also taught at the University of Pennsylvania, New York University, and Rutgers University.

Dr. Boldin has published in the Brookings Papers on Economic Activity, Journal of Banking and Finance, Studies in Nonlinear Dynamics and Econometrics, Journal of Business, and the Journal of Social and Economic Measurement. He has presented his work at various regional and national conferences.


  • Ph.D. Economics, University of Pennsylvania, Philadelphia, PA, 1990 Dissertation: Business Cycles, Stock Market and Animal Spirits. Fields: Monetary Policy, Finance, Industrial Organization.
  • B.B.A. Temple University, Philadelphia, PA, 1983

Sample Publications

  • “The Index Fund Paradox” (with G. Cici), 2010, Journal of Banking and Finance, 34, 33-43.
  • “Should Policy Makers Worry about Asymmetries in the Business Cycle? ” Studies in Nonlinear Dynamics and Econometrics, Vol. 3: No. 4, 1999, Article 3.
  • “A Critique of the Traditional Composite Index Methodology,” Journal of Social and Economic Measurement, Vol. 25: Nos. 3-4, 1998, pp. 119-140.
  • “A Check on the Robustness of Hamilton’s Markov Switching Model Approach to the Economic Analysis of the Business Cycle,” Studies in Nonlinear Dynamics and Econometrics, Vol. 1: No. 1, 1996, pp. 35-46.
  • “Dating Turning Points in the Business Cycle,” Journal of Business, Vol. 67, 1994, pp. 97-131.