Richard Spady continued his work in econometrics and its application to industrial organisation. In econometrics and statistics he completed two working papers: 'Information Theoretic Approaches to Inference in Moment Condition Models' (with G Imbens and P Johnson, Harvard University) and 'Reliable Inference from Empirical Likelihoods' (with S Corcoran and A Davison, Department of Statistics, Oxford). He presented the first paper at the Harvard/MIT joint seminar in econometrics, the NSF/CEME conference on microeconometrics at the University of Wisconsin, and in economics department seminars in Nuffield, Bristol, Yale, Illinois, Northwestern, and Rutgers. The second paper was presented by co-authors at the Institute of Mathematical Statistics meeting in Montreal and at a conference on Likelihood, Asymptotics, and Neo-Fisherian Inference in Brixen.
He was on leave in Hilary and Trinity Terms in the economics department at Northwestern University (where he is Adjunct Professor) and as Visiting Scholar in the Department of Management and Strategy in the Kellogg Graduate School of Management. On the industrial organisation side, he continued his work with Kathryn Graddy (London Business School) on the pricing policies of cigarette exporters and he initiated with Howard Smith (IES and St John's) a study of the UK supermarket industry.