Edward Tower

Edward Tower

Professor with Tenure

External Address: 
228C Social Sciences Bldg, Box 90097, Durham, NC 27708
Internal Office Address: 
Box 90097, Durham, NC 27708-0097
(919) 660-1818

Professor Tower specializes in finance, computable general equilibrium modeling, macroeconomics, development economics, microeconomics, and managerial economics. He conducts a majority of his research within the study of trade and development, exploring a variety of variables from tariffs, quotas, and time zone arbitrage, to equities, mutual funds, and index mutual funds. Since he began publishing his work in 1965, he has contributed over 130 articles to leading academic journals and has had several books, chapters, and papers appear in print. Some of his more recent writings include, “School Choice: Money, Race, and Congressional Voting on Vouchers,” completed in collaboration with O. Gokcekus and J. Phillips; “Rational Pessimism: Predicting Equity Returns by Tobin’s q and Price/Earnings Ratio” with M. Harney; and “Predicting Equity Returns for 37 Countries: Tweaking the Gordon Formula” with K. Reinker. Much of his work pertaining to U.S. trade policy has been used to determine congressional voting on protectionist issues based on campaign contributions. His work on financial issues has also played an important role in determining the value of the U.S. stock market. His latest studies involved an investigation of congressional voting on importation of ethical drugs and predicting returns on both foreign and U.S. equity.


  • Ph.D., Harvard University 1971
  • M.A., Harvard University 1967
  • B.A., Harvard University 1964

Gokcekus, Omer, and Edward Tower. “The Effects of Import Quotas on National Welfare: Comment.” Southern Economic Journal 64, no. 2 (October 1997): 584–584. https://doi.org/10.2307/1060870. Full Text

Baker, A., F. Gross, and E. Tower. “Super 301 trade sanctions: An empirical investigation of the wood products case.” North American Journal of Economics and Finance 8, no. 1 (March 1, 1997): 39–55.

Tower, E. “Yucel on Reducing U.S. Vulnerability to Oil Supply Shocks: Comment.” Southern Economic Journal, April 1996, 1093–95.

Pinsky, L., and E. Tower. “Temporary duty suspension in the United States.” North American Journal of Economics and Finance 6, no. 1 (January 1, 1995): 17–36. https://doi.org/10.1016/1062-9408(95)90003-9. Full Text

Tower, E. “Do the U.S. and China Discriminate against One Another's Goods?Asian Profile, April 1993, 101–12.

Simmons, P., and E. Tower. “Market Power and Buffer Stocks: Erratum.” The Economic Record, March 1993.

Tower, E. “On Domestic Resource Cost.” Journal of International Economic Integration, March 1992, 20–44.

Canto, V., W. H. Kaempfer, and E. Tower. “On the Validity of the Lerner Neutrality and Symmetry Theorems in The Presence of Non-Traded Goods.” Contemporary Studies in Economic and Financial Analysis 62, no. 87 (1992).

GANG, I. N., and E. TOWER. “Allocating Jobs under a Minimum Wage: Queues vs. Lotteries.” Economic Record 66, no. 3 (January 1, 1990): 186–94. https://doi.org/10.1111/j.1475-4932.1990.tb01721.x. Full Text


Gilbert, John, and Edward Tower. “Long-Run Production Problem from Chapter 5 of Gilbert and Tower (2013),” November 9, 2012.