Professor of Financial Institutions - Columbia University

Professor Calomiris received his PhD in economics from Stanford University.

His research spans the areas of banking, monetary economics, corporate finance and financial history. He is a member of the Shadow Open Market Committee and the Financial Economists Roundtable, a Research Associate of the National Bureau of Economic Research, and a Distinguished Visiting Fellow at the Hoover Institution, where he co-directs the Initiative on Regulation and the Rule of Law.

His recent writings include studies that use textual analysis to measure the consequences of risk for international equity markets, foreign exchange markets, and monetary policy actions, studies of the consequences for investment and growth of capital inflows into emerging economies in the past decade, and studies of the origins of banking crises and the role of government policies in magnifying or mitigating systemic risk, including his books, Fragile By Design: The Political Origins of Banking Crises and Scarce Credit (with Stephen Haber), Princeton, 2014, and Reforming Financial Regulation After Dodd-Frank, Manhattan Institute, 2017, and edited volumes, Rules for the Lender of Last Resort, Journal of Financial Intermediation, 2016, and Assessing Banking Regulation During the Obama Era, Journal of Financial Intermediation, 2018.


Session 30 : When and Where is the Next Financial Crisis?

Financial crises are not a single phenomenon. They do not manifest themselves in only one way, and they do not result from a common underlying cause. Sovereign debt crises typically reflect unsustainable fiscal policies.

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