Faculty and Executive Leadership Directory
PhD, Economics, Northwestern University
BA, Economics and History, Binghamton University
1978 – present, Professor, Haas School of Business
2016 – present, Member, Financial Economists Roundtable
2012 – 2015, 2018 – present, Chair, Economic Analysis and Policy Group, Haas School of Business
2014 – 2016, Member, Board of Directors, VirtualBeam, Inc.
2012 – present, Member, Board of Directors, Finance Scholars Group
2003 – present, Fellow, Wharton Financial Institutions Center
1999 – 2001, Chief Economist, Office of the Comptroller of the Currency, Washington, DC
1991 – 1992, Economist, Federal Reserve Board
1990 – 1991, Senior Economist, President’s Council of Economic Advisers
External Service and Assignments
- 2016 – present Member, Financial Economists Roundtable
- 2014 – 2016 Member, Board of Directors, VirtualBeam, Inc.
- 2012 – present Member, Board of Directors, Finance Scholars Group
Current Research and Interests
- Banking: mergers and acquisitions, cost reductions by consolidation, lending and bank capital, effects of economic conditions on banks, small business and banking
- Business conditions: Federal Reserve monetary policy and interest rates, unemployment and inflation, consumer spending, outlook for the economy
- Conversions: mutual-to-stock conversions of financial institutions, credit union failures and losses, credit union cost and profit performance
Selected Papers and Publications
- “Government Guarantees of Loans to Small Businesses: Effects on Banks’ Risk-Taking and Non-Guaranteed Lending,” With Yukihiro Yasuda. Journal of Financial Intermediation, forthcoming.
- “Help Workers Hurt by ‘Tech Tilt’ with Tech-Friendly Tax Reform,” The Hill blog, November 28, 2017.
- “Regime Shifts in Real Estate Markets: Time-Varying Effects of the U.S. and Japanese Economies on House Prices in Hawaii,” with John R. Krainer. Real Estate Economics, vol. 41, Issue 3, (Fall 2013), 449-480.
- The Home Purchase Sentiment Index: A New Housing Indicator,” Business Economics, v. 50, (October 2015), 178-190, doi:10.1057/be.2015.27. National Association for Business Economics’ 2015 Edmund A. Mennis Contributed Paper Award.
- “Underwriting, Mortgage Lending, and House Prices: 1996-2008,” Business Economics, October 2009, pp. 189-200. Winner of the National Association for Business Economics’ 2009 Edmund A. Mennis Contributed Paper Award.
- A Way to Make People Buy Homes Again :[Op-Ed]. New York Times (Late Edition (east Coast)), p. A.29.
Honors and Awards
- Earl F. Cheit Award for Excellence in Teaching, 1997
- Earl F. Cheit Award for Excellence in Teaching, 1995
- Earl F. Cheit Award for Excellence in Teaching, 1987
Faculty Directory: Alphabetical Listing
Faculty Directory: Listing by Department
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