Faculty & Staff Directory


Dr. Shoesmith has taught economics in WFU's MBA program since 1986. Before coming to WFU, he worked six years as the Chemicals Division economist for Phillips Petroleum Co. and also as a consultant with Data Resources Inc (now IHS Global Insight). He received Babcock's Kienzle Teaching Award in 2003 and 2010, the Outstanding Teaching Award in the Winston-Salem Evening Program in 2012 and similar teaching awards in the Charlotte Evening MBA Program in 1998 and 1999.

National and regional time-series forecasting, financial market microstructure, and crime modeling and forecasting.

  • Ph D, Southern Methodist University (Economics) - 1986
  • MS, Iowa State University (Economics) - 1978
  • BS, Pittsburg State University (Mathematics and Economics) - 1976

Research Interests

  • Time-series econometrics with applications to national and regional economic forecasting and financial market analysis, plus the economics of crime.

Teaching Interests

  • Macroeconomics, Managerial Economics and TIme-Series Forecasting

  • Resnick, B. G. , &  Shoesmith, G. L. (2017). A Note on Modelling World Equity Markets with Nonsynchronous Data. Journal of International Financial Markets, Institutions & Money, 51, 125-32. | more information
  • Shoesmith, G. L. (2015). Crime, Teenage Abortion, and Unwantedness. Crime and Delinquency, OnlineFirst, 1-1. | more information
  • Shoesmith, G. L. (2014). A Time-Series Postmortem on Eurozone Financial Integration and the Debt Crisis: Modeling and Policy Implications. International Journal of Business, 19 (2), 114-131. | more information
  • Shoesmith, G. L. (2013). Space-Time Autoregressive Models and Forecasting National, Regional and State Crime Rates. International Journal of Forecasting, 29 (1), 191-201. | more information
  • Jarrell, S. ,  Shoesmith, G. L. ,  Fox, B. A. ,  Robbins, J. N. , &  , . (2011). Economic Development Incentives and the Legal and Economic Issues on Open versus Sealed Bids. South Carolina Journal of International Law and Business, 7
  • Resnick, B. G. , &  Shoesmith, G. L. (2011). Information Transmission in the World Money Markets. European Financial Management, 17 (1), 183-200. | more information
  • Shoesmith, G. L. (2010). Four Factors that Explain Both the Rise and Fall of U.S. Crime, 1970-2003. Applied Economics, 42 (2010) (23), 2957-2973.
  • Resnick, B. G. ,  Shoesmith, G. L. , &  Galpin, W. (2009). Eurocurrency Risk Premia. International Journal of Business, 14 (3), 199-220. | more information
  • Shoesmith, G. L. ,  Jarrell, S. , &  Robbins, J. N. (2006). Law and Economics of Regulating Local Economic Development Incentives. Wake Forest Law Review, 41 (2006) (3), 805-834. | more information
  • Shoesmith, G. L. ,  Jarrell, S. , &  Reese, G. (2006). What Will U.S. Consumer Spending Patterns Look Like in 2020 and 2025? Marketing Research, 18 (2006) (1), 27-32.
  • Shoesmith, G. L. (2005). Probit Model Forecasts of National and State Nonfarm, Manufacturing and Construction Employment Downturns. Papers in Regional Science, 84 (2005) (4), 531-552. | more information
  • Resnick, B. G. ,  Shoesmith, G. L. , &  Liu, W. (2004). Market Timing of International Stock Markets Using the Yield Spread. Journal of Financial Research, 27 (3), 373-391. | more information
  • Shoesmith, G. L. , &  Patel, A. (2004). Term Structure Linkages Surrounding the Plaza and Louvre Accords: Evidence from Euro-Rates and Long-Memory Components. Journal of Banking and Finance, 28 (2004) (9), 2051-2075. | more information
  • Shoesmith, G. L. (2003). Predicting National and Regional Recessions Using Probit Modeling and Interest-Rate Spreads. Journal of Regional Science, 43 (2), 373-392. | more information
  • Resnick, B. G. , &  Shoesmith, G. L. (2002). Using the Yield Curve to Time the Stock Market. Financial Analysts Journal, 58 (3), 82-90. | more information
  • Shoesmith, G. L. , &  Pinder, J. P. (2001). Potential Inventory Cost Reductions Using Advanced Time Series Forecasting Techniques. Journal of the Operational Research Society, 52 (11), 1267-1275.
  • Shoesmith, G. L. (2000). The Time-Series Relatedness of State and National Indexes of Leading Indicators and Implications for Regional Forecasting. International Regional Science Review, 23 (3), 19. | more information
  • Shoesmith, G. L. (2000). A Further Interpretation of Friedman's Hypothesis: The Cointegration of Component CPI Indexes. Economics Letters, 67 (1), 4. | more information
  • Harris, F. H. ,  McInish, T. ,  Shoesmith, G. L. , &  Wood, R. (1995). Cointegration, Error Correction, and Price Discovery on Three Informationally-Linked Security Markets. Journal of Financial and Quantitative Analysis, 30 (4), 563-579.
  • Shoesmith, G. L. (1995). Multiple Cointegrating Vectors, Error Correction and Forecasting with Litterman's Model. International Journal of Forecasting, 11 (4), 557-567. | more information
  • Shoesmith, G. L. , &  Pinder, J. P. (1995). Modeling Multivariate Cointegrated Systems; Insights From Nonlinear Dynamics. Journal of Forecasting, 14 (3), 311-324.
  • Shoesmith, G. L. (1995). Long-Term Forecasting of Non-Cointegrated and Cointegrated Regional and National Models. Journal of Regional Science, 35 (1), 43-64.

  • 2012 - Outstanding Educator Award, Winston-Salem Evening Program, WFU Schools of Business
  • 2010 - Kienzle Teaching Award, WFU Schools of Business
  • 2008 - Medlin Excellence Fellow
  • 2003 - Kienzle Teaching Award, WFU Schools of Business
  • 1999 - Outstanding Faculty Teaching Award, Charlotte Evening Program, WFU Schools of Business
  • 1998 - Outstanding Faculty Teaching Award, Charlotte Evening Program, WFU Schools of Business
  • 1993 - Sara Lee Excellence Award, WFU Schools of Business

  • August 22, 2015 - Wintrush Business Lunch, WGN Radio | more information
  • August 1, 2015 - How to Take Advantage of Your Brain's Hidden Productivity Powers, Fast Company | more information
  • March 30, 2003 - "Meetings", High POint Enterprise
  • February 10, 2002 - "Find out just what a 'business model' really is.", News & Record
  • February 8, 2002 - "Business Model", Triad Business News
  • December 1, 2001 - "The effects of worker learning, forgetting & heterogeneity on assembly line productivity.", Management Science
  • October 2, 1998 - "New Faculty", Triad Business News
  • September 28, 1998 - "New Faculty", Winston-Salem Journal
  • September 27, 1998 - "New Faculty", High Point Enterprise
  • September 27, 1998 - "New Faculty", High Point Enterprise