Edward G. Keating

Photo of Edward Keating
Senior Economist; Professor, Pardee RAND Graduate School
Santa Monica Office


Ph.D. in economic analysis, Stanford University Graduate School of Business; B.A. in mathematical methods in the social sciences and economics, Northwestern University

Media Resources

This researcher is available for interviews.

To arrange an interview, contact the RAND Office of Media Relations at (310) 451-6913, or email media@rand.org.

More Experts


Edward G. Keating is a senior economist at the RAND Corporation, specializing in governmental economics issues including cost/benefit analysis, manpower compensation policies, aging military systems, working capital fund policy, outsourcing and privatization, and contracting policy. Some of his recent work includes an examination of the economic consequences of shipbuilding, optimal replacement of aging aircraft systems, the causes and consequences of defense inflation, and United States Forest Service aviation policies. On July 30, 2012, Keating was quoted in The New York Times on firefighting aviation research. He was an invited speaker at an international firefighting aviation conference in Aix-en-Provence, France on April 11, 2013. Along with many RAND publications, Keating's research has been published in the journals Air Force Journal of Logistics, Armed Forces Comptroller, Defence and Peace Economics, Defense Acquisition Review Journal, Journal of Applied Research in Economic Development, Journal of Cost Analysis & Management, Military Medicine, and Public Administration Review. He has taught finance and accounting at the Pardee RAND Graduate School as well as economics and finance to M.B.A. students at Loyola Marymount University. He holds a Ph.D. in economic analysis and policy from the Stanford University Graduate School of Business.

Pardee RAND Graduate School Courses

Recent Projects

  • The Economic Consequences of Investing in Shipbuilding
  • Defense Working Capital Fund Pricing in the Defense Finance and Accounting Service
  • Estimating the Costs of Continued T-38C Training Aircraft Operation Versus Replacement by a T-X Training Aircraft
  • United States Air Force Participation in the F-35 Global Spares Pool: Advantages and Risks
  • Air Attack Against Wildfires: Understanding U.S. Forest Service Requirements for Large Aircraft

Selected Publications

Edward G. Keating and Mark Arena, "Defense Inflation: What Has Happened, Why Has It Happened, and What Can Be Done About It?" Defence and Peace Economics, 2015

Edward G. Keating, Ellen M. Pint, Christina Panis, Michael H. Powell, and Sarah H. Bana, Defense Working Capital Fund Pricing in the Defense Finance and Accounting Service: A Useful, but Limited, Tool, RAND (RR-866), 2015

Edward G. Keating, Irina Danescu, Dan Jenkins, James Black, Robert Murphy, Deborah Peetz, and Sarah H. Bana, The Economic Consequences of Investing in Shipbuilding: Case Studies in the United States and Sweden, RAND (RR-1036), 2015

Edward G. Keating, Irv Blickstein, Michael Boito, Jess Chandler, and Deborah Peetz, "Investigating the Desirability of Navy Aircraft Service Life Extension Programs," Defence and Peace Economics, 25(3):271-280, 2013

Edward G. Keating, Andrew R. Morral, Carter C. Price, Dulani Woods, Daniel M. Norton, Christina Panis, Evan Saltzman, and Ricardo Sanchez, Air Attack Against Wildfires: Understanding U.S. Forest Service Requirements for Large Aircraft, RAND (MG-1234), 2012

Edward G. Keating and Daniel Sommerhauser, Funding Ammunition Ports, RAND (TR-1204), 2012

Edward G. Keating, Marygail K. Brauner, Lionel A. Galway, Judith D. Mele, James J. Burks, and Brendan Saloner, "The Air Force Medical Corps' Status and How Its Physicians Respond to Multiyear Special Pay," Military Medicine, 174(11):1155-1162, 2009

Edward G. Keating, Robert Murphy, John F. Schank, and John Birkler, "Reforming How Navy Shipbuilding Contracts Adjust for Material-Cost Risk," Defense Acquisition Review Journal, 15(3):293-305, 2008

Honors & Awards

  • Quoted in The New York Times, July 30, 2012
  • Briefing to RAND Board of Trustees, November 8, 2012

Recent Media Appearances

Interviews: New York Times

Commentary: AL.com; The Orange County Register


  • An Airbus A321 being assembled at the new Airbus U.S. Manufacturing Facility in Mobile, Alabama, September 13, 2015

    The Prospective Impact of Airbus Industries on Mobile

    Austal USA's operations in Mobile, Alabama have benefited the broader region. Similarly, Airbus's hiring should have a net favorable impact on the region's economy, since the area does not appear to be at or near full employment.

    Oct 10, 2015 AL.com

  • 415 Superscooper aircraft

    Fighting Fires From Above

    A newly deployed airborne firefighting resource is helping the United States Forest Service (USFS) battle wildfires, while at the same time providing valuable lessons on the utility and cost effectiveness of water-dropping scooper aircraft.

    May 15, 2014 The RAND Blog

  • A Hellenic Air Force Canadair CL-415 drops water over a forest fire northeast of Athens in August 2009

    Investing in Firefighting

    While the U.S. Forest Service has not completely agreed with RAND's proposal to transition to a fleet dominated by water-dropping scooper aircraft for fighting fires, they have leased one CL-415 scooper aircraft. It might be more cost-effective for the USFS to simply purchase it outright.

    Dec 30, 2013 The Orange County Register

  • California Air National guardsmen perform precision water bucket drops near Yosemite

    The Desirability of 'Free' C-27s for the U.S. Forest Service

    Although we believe that a scooper-centric firefighting aircraft portfolio for initial attack would still be preferred, Air Force-provided 1,850-gallon C-27Js could be a cost-effective component of the retardant-bearing portion of the Forest Service's airborne firefighting arsenal, write Edward G. Keating and Daniel M. Norton.

    Sep 6, 2013 The RAND Blog