B.A., Economics and History, State University of New York, Binghamton, 1974
1978-present: Professor, Haas School of Business, UC Berkeley
1990-91: Senior Economist, President's Council of Economic Advisers
1991-92: Economist, Federal Reserve Board
1999-2001: Chief Economist, Office of the Comptroller of the Currency, Washington, DC
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.
Conversions: mutual-to-stock conversions of financial institutions, public-to private sector conversions.
BA 237, Financial Services Industry, Fall 2002
E 201B, Economic Analysis for Business Decisions II, Fall 2001
BA 235, Risk Management, Spring 2003
Earl F. Cheit Award for Excellence in Teaching, Evening MBA Program, 1986-87,
Earl F. Cheit Award for Excellence in Teaching, Undergraduate Program, 1994-95
Earl F. Cheit Award for Excellence in Teaching, Evening MBA Program, 1986-87
"Bank Capital, Loan Delinquencies, and Real Estate Lending" (with Diana Hancock), Journal of Housing Economics, June 1994, v. 3(2), pp. 121-146.
"Bank Capital Shocks: Dynamic Effects on Securities, Loans, and Capital"
(with Diana Hancock and Andrew J. Laing), Journal of Banking and Finance,
v. 19(2), 1995, pp. 661-677.
"Bank Credit and Economic Activity" (with Carl E. Walsh), in Is
Bank Lending Important for the Transmission of Monetary Policy?, Federal
Reserve Bank of Boston, 1995, pp. 83-112.
"Intraday Management of Bank Reserves: The Effects of Caps and Fees on Daylight
Overdrafts" (with Diana Hancock), Journal of Money, Credit and Banking,
v. 28(4), November 1996, pp. 870-908.
"Bank Capital, Nonbank Finance, and Real Estate Activity" (with Diana
Hancock), Journal of Housing Research, v.8(1), 1997, pp. 75-105.
"The 'Credit Crunch' and the Availability of Credit to Small Business" (with Diana Hancock),
Journal of Banking and Finance, v. 22(6-8), 1998, pp. 983-1014.
"Cost Reductions in Electronic Payments: The Roles of Consolidation, Economies
of Scale, and Technical Change" (with David B. Humphrey and Diana Hancock),
Journal of Banking and Finance, v. 23, 1999, pp. 391-421.