Carl Campbell III, Ph.D.
Professor and Department Chair

Education and Experience

Professor Campbell obtained his M.A. and his Ph.D. in 1988 from Princeton University. Dissertation title: "A Sectoral and International Compairson of Wage Rigidity". Campbell teaches the first semester of graduate macroeconomics, and he currently serves as the chair of the Economics department. Prior to joining NIU, he held teaching positions at Dartmouth College, University of Virginia, and Colgate University.


Professor Campbell's research is generally focused on macroeconomic and labor economic issues, particularly on the dynamics of unemployment and wages. Journals, where his work has been published, include the Quarterly Journal of Economics, the Journal of Labor Economics, and Labour Economics.

Areas of Specialization

  • Macroeconomics
  • Labor Economics

Areas of Interest

  • Soccer
  • Hockey
  • Geneology

Courses Taught

Economics 361: Intermediate Macroeconomics

Selected Publications

  • "A Cross-Industry Time-Series Analysis of Quits." Quarterly Review of Economics and Finance, Vol. 35, Spring 1995, pp. 53-72.
  • "Tests of Efficiency Wage Theory and Contract Theory with Disaggregated Data from the U.S." Weltwirtschaftliches Archiv, Vol. 127, March 1991, pp. 98-118.
  • "Do Firms Pay Efficiency Wages? Evidence with Data at the Firm Level." Journal of Labor Economics, Vol. 11, July 1993, pp. 442-470.
  • "Wage Change and the Quit Behavior of Workers: Implications for Efficiency Wage Theory." Southern Economic Journal, Vol. 61, July 1994, pp. 133-148.
  • "The Determinants of Dismissals: Tests of the Shirking Model with Individual Data." Economics Letters, Vol. 46, September 1994, pp. 89-95.
  • "Sectoral Wage Rigidity in the Canadian and French Economies." European Economic Review, Vol. 33, December 1989, pp. 1727-1749.
  • "The Effects of State and Industry Economic Conditions on New Firm Entry." Journal of Economics and Business, Vol. 48, May 1996, pp. 167-183.
  • "The Variation in Wage Rigidity by Occupation and Union Status."Oxford Bulletin of Economics and Statistics, Vol. 59, February 1997, pp. 133-147.
  • "The Determinants of Dismissals, Quits, and Layoffs: A Multinomial Logit Approach." Southern Economic Journal, Vol. 63, April 1997, pp. 1066-1073.
  • "The Reasons for Wage Rigidity: Evidence from a Survey of Firms." (with Kunal Kamlani), Quarterly Journal of Economics, Vol 112, August 1997, pp. 759-789.
  • "A Model of the Wage Curve." Economics Letters, Vol 59, April 1998, pp. 119-125 (with M. Orszag).
  • "Can the Fair Wage-Effort Hypothesis Be Interpreted as a Safe Effort Hypothesis?" Economics Letters, vol. 72, August 2001, pp. 241-246 (with E. Katz).
  • “A Model of the Determinants of Effort,” published in Economic Modelling (refereed), Vol. 23, March 2006, pp. 215-237.
  • "An Efficiency Wage Approach to Reconciling the Wage Curve and the Phillips Curve," Labour Economics, Vol.15, December 2008, pp. 1388-1415.
  • "Deriving the Wage-Wage and Price-Price Phillips Curves from a Model with Efficiency Wages and Imperfect Information," Economics Letters,Vol. 107, May 2010, pp. 242-245.
  • "The Formation of Wage Expectations in the Effort and Quit Decisions of Workers," Economic Modelling, Vol. 42, October 2014, pp. 313-322.

Zulaf Hall 513
Curriculum Vitae

Office Hours

Tuesday, 1:30-3:30 p.m. 
and by appointment