Shamar Stewart

My research program centers on two complementary areas of inquiry. The first examines how agricultural and commodity markets function, with particular attention to how information, expectations, and economic shocks affect prices, volatility, market integration, and forecasting. The second area investigates regional and labor market outcomes, especially the economic factors that shape labor force participation. In both areas, I use time-series econometrics and forecasting, along with other applied econometric and data-analytic methods, to generate evidence that informs economic decision-making.

Expertise

• Agricultural and commodity markets
• Time-series econometrics and forecasting
• Applied econometrics and economic analytics
• Regional and labor economics

Education

• Ph.D., Economics, University of Alabama, Tuscaloosa, Alabama, 2019
• M.A., Economics, University of Alabama, Tuscaloosa, Alabama, 2019
• M.Sc., Economics, The University of the West Indies, Mona, Jamaica, 2011
• B.Sc., Economics and Statistics, The University of the West Indies, Mona, Jamaica, 2009

A central theme of my research is understanding how markets respond to new information or changing economic conditions. In agricultural and commodity markets, I analyze how information is incorporated into prices, how shocks and volatility are transmitted within and across markets, and how these relationships can be leveraged for improved forecasting and risk management. This research includes government information releases, commodity price and volatility dynamics, market connectedness, and the interactions among agricultural, energy, and financial markets.

A complementary strand of my research investigates variations in labor force participation across local labor markets. This work identifies the economic, demographic, and structural factors underlying persistent differences in participation and examines the extent to which regional labor market outcomes are interconnected across space and time.

My teaching emphasizes experiential learning. I foster students' confidence in applying economic theory and quantitative methods to real-world problems, with a particular focus on econometrics, forecasting, data analytics, and economic decision-making. In my courses, students use real-world data and computational tools to move beyond isolated techniques and understand when, why, and how these methods address economic questions. 

Courses Taught

Undergraduate

• AAEC 1005 – Economics of the Food & Fiber System
• AAEC 3014 – Analytical Methods in Applied Economics
• AAEC 4434 – Commodity Investing by Students
• AAEC 4484 – Applied Economic Forecasting
• AAEC 4804 – Elementary Econometrics

Graduate

• AAEC/STAT 5484 – Applied Economic Forecasting (Face-to-Face & Asynchronous)
• AAEC 5408G – Fundamentals of Econometrics
• AAEC 5904/5974 – Projects and Reports (M.S. Capstone, Online)

Experience

• Assistant Professor, Department of Agricultural and Applied Economics, Virginia Tech, 2019–Present
• Graduate Teaching Assistant, Department of Economics, Finance and Legal Studies, University of Alabama, 2014–2019
• Economist, Bank of Jamaica, Kingston, Jamaica, 2012–2014

Honors and Awards

• College of Agriculture and Life Sciences Certificate of Teaching Excellence Awardee, Virginia Tech, 2025
• College of Agriculture and Life Sciences Certificate of Teaching Excellence Scholar, Virginia Tech, 2022
• Culverhouse Business School Award for Excellence in Teaching by a Doctoral Student, University of Alabama, 2018 and 2019

 Professional Leadership

• Chair, AAEA Econometrics Section, 2026–Present
• President-Elect, AAEA Econometrics Section, 2025–2026
• Treasurer, AAEA Econometrics Section, 2024–2025
• Program Committee Chair, International Agricultural Trade Research Consortium (IATRC), 2025–Present

Mentorship

Mentoring students is a significant component of my teaching and professional responsibilities. I have served as chair, co-chair, or committee member for numerous Ph.D. and master's students and have mentored undergraduate students engaged in research and applied economic analysis. Additionally, I serve as faculty advisor to Commodity Investing by Students (COINS), where students gain practical experience in applying economic analysis, forecasting, and quantitative methods to commodity-market investment decisions.

1. Ortez, M.A., Stewart, S.L., & Mashange, G. (2026). “Food & Beverage Firms in the U.S. Equity Network: Connectedness, Drivers, and Portfolio Implications.” North American Journal of Economics and Finance, forthcoming.
2. McWilliams, W., Stewart, S.L., & Isengildina Massa, O. (2026). “Food Price Inflation Forecasting: Insights from a Macroeconomic Auto-Regressive Random Forest Approach.” Food Policy.
3. Nguyen, H., Mills, B., Ta, C., & Stewart, S.L. (2026). “Rising Tides, Falling Harvests: Examining the Effects of Salinity Intrusion on Paddy Production in Vietnam’s Mekong Delta.” Journal of Agricultural Economics.
4. Galyon, H., Robinson, L., Corl, B., Payne, K., Stewart, S., Thomason, W., & Ferreira, G. (2026). “Production Performance, Nutrient Digestibility, and Enteric Methane Emissions of Lactating Holstein Cows Fed Triticale Silage of Different Maturities in Different Dietary Forage Inclusions.” Journal of Dairy Science.
5. Beverly, J., Stewart, S.L., & Neill, C.L. (2025). “The Unemployment Invariance Hypothesis in West Virginia: A Tale of Two Indicators.” Empirical Economics.
6. Schultz, M., Corl, B., Payne, K., Stewart, S., Thomason, W., & Ferreira, G. (2025). “Production Performance, Nutrient Digestibility, and Milk Fatty Acid Profile of Lactating Dairy Cows Fed Triticale Silage of Different Maturities and Different Dietary Forage Concentrations.” Journal of Dairy Science.
7. Ferreira, G., Teets, C., Galyon, H., Cappellina, A., Schultz, M., Payne, K., Stewart, S., & Thomason, W. (2025). “Effect of Maturity at Harvest of Small Grain Grasses on the Nutritional Composition of Forage and Ration Formulation.” Journal of Dairy Science.
8. Poghosyan, A., Isengildina Massa, O., & Stewart, S.L. (2025). “Futures-Based Forecasts of Cotton Prices: Beyond Historical Averages.” Journal of Agricultural and Applied Economics, 114–134.
9. Beverly, J., Stewart, S.L., & Neill, C.L. (2024). “What Drives Labor Force Participation Rate Variability? The Case of West Virginia.” Economic Modelling.
10. Muhammad, A., Stewart, S., & Hossen, M. (2024). “U.S. Timber Trade and Vietnam: Exploring the Impacts of the Trade War and Environmental Policies.” Choices.
11. Harrison, A., Liu, X., & Stewart, S.L. (2024). “Are Exchange Rates Absorbers of Global Oil Shocks? A Generalized Structural Analysis.” Journal of International Money & Finance, 103126.
12. Wang, Y., Isengildina Massa, O., & Stewart, S.L. (2024). “Time-Varying Reaction of U.S. Meat Demand to Animal Disease Outbreaks.” Applied Economic Perspectives & Policy.
13. Beverly, J., Stewart, S.L., & Neill, C.L. (2023). “The Dynamics of Labor Force Participation: Is All Quiet on the Appalachian Front?” Empirical Economics.
14. Harrison, A., Liu, X., & Stewart, S.L. (2023). “Structural Sources of Oil Market Volatility and Correlation Dynamics.” Energy Economics, 121, 106658.
15. Stewart, S.L., Isengildina Massa, O., Hassman, C., & de Leon, M. (2023). “ETP Tracking of U.S. Agricultural and Energy Markets.” Journal of Commodity Markets, 100344.
16. Wang, Y., Isengildina Massa, O., & Stewart, S. (2022). “U.S. Grass-Fed Beef Premiums.” Agribusiness.
17. Bian, Z., Ma, J., Ni, J., & Stewart, S. (2020). “Synchronization of Regional Growth Dynamics in China.” China Economic Review, 61, 101226.