His research interests include the formation and updating of macroeconomic expectations, linkages between financial markets and the macroeconomy, state and regional economic forecasting, and the macroeconomic impact of housing cycles. Prior to coming to USD, Professor Ratcliff spent three years at the renowned UCLA Anderson Forecast, where he was the primary author of the quarterly forecast for California, as well as numerous other reports on local economic forecasts and regional housing markets. He has also worked in market research and applications development at the Franklin-Templeton family of mutual funds, as a market analyst on the U.S. Treasury’s Mexico Task Force, and as a compliance researcher at the Frankfurt headquarters of Deutsche Bank. School of Business Administration