Education

Massachusetts Institute of Technology, Ph.D in Economics, 1989

University of California at Davis, B.A., 1982, Graduation with Highest Honors.

Grants, Honors, and Fellowships

Charles M. Haper Faculty Fellow, University of Chicago Booth School of Business, 2012-2013.
Richard N. Rosett Faculty Fellow, University of Chicago Booth School of Business, 2009-2010.
Keynote address, European Central Bank conference on “Financial Stability: Methodological Advances and Policy Issues”, June 2012.
Mundell-Fleming Lecture, International Monetary Fund Annual Research Conference, November 2010.
Keynote address at the 13th conference of the ECB-CFS Research Network:
Macro-prudential Regulation as an Approach to Contain Systemic Risk: Economic Foundations, Diagnostic Tools and Policy Instruments, September 2010.
Keynote address at 2010 IEFA The 8th NTU International Conference on Economics, Finance and Accounting - Bank Regulation and Financial Development, June 2010.
Consultant, External Reviewer, Research Department, Bank of Finland, 2009.
Panelist, Brookings Panel on Economic Activity 1995, 2006.
Co-editor, Journal of Political Economy, July 2003 - December 2005.
Visiting Scholar, Division of Monetary Affairs, Board of Governors of the Federal Reserve System, 1994, 2001 and 2005.
Board of Associate Editors, Journal of Financial Intermediation, January 1998 - June 2005.
Consultant, External Reviewer, Research Department, Federal Reserve Bank of New York, 2003.
Advisory Council member, Japan External Trade Organization, Project on "Accessing the Japanese Market," August 1995 - May 2003. JETRO Award May 2003 for outstanding contribution to the organization in the previous year.
Consultant, Research Department of the European Central Bank, and Advisor to the 12 National Central Banks of the Eurosystem Monetary Transmission Network, 1999 - 2003.
"Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking," (with Raghuram Rajan and Jeremy Stein) selected for the 2002 Brattle Prize Distinguished Paper.
Corporate Financing and Governance in Japan: The Road to the Future(with Takeo Hoshi), MIT Press, selected for the 45th Nikkei Prize for Excellent Books in Economic Science.
Bank of England, Senior Houblon-Norman Fellow Fall 2001
National Science Foundation Grants in Economics 1998-2002; previous support from 1995-1997 (with Jeremy Stein); 1994 (with Stephen Cecchetti); 1992-1993 (with Jeremy Stein).
Member, Humanities, Social Sciences and Business Studies Panel of the Research Grants Council of Hong Kong, 1997.
Visiting Scholar, Division of International Finance, Board of Governors of the Federal Reserve System, 1997; Division of Monetary Affairs, 1994.
Sloan Research Fellowship 1995-1997.
Graduate School of Business, James S. Kemper Foundation Scholar, 1995-1996.
Co-editor, Journal of Business, July 1999 - July 2001.
Consultant, U.S. Central Intelligence Agency, 1995 and 1999.
Visiting Scholar, Financial Markets Group, London School of Economics, 1995 and 1999.
Faculty Research Fellow, National Bureau of Economic Research, 1992-1996.
Graduate School of Business, IBM Corporation Scholar, 1992-1993.
MIT Department of Economics Fellowship, 1985 and 1986.
University of California at Davis, 1982 Wall Street Journal Award (Awarded to top graduating student in Economics) and Phi Beta Kappa (1981)