Anil K Kashyap

Anil Kashyap

Anil Kashyap is the Stevens Distinguished Service Professor of Economics and Finance at the University of Chicago’s Booth School of Business.  His research focuses on financial intermediation and regulation, the Japanese economy, macroeconomics and monetary policy.  He co-founded the U.S. Monetary Policy Forum (the leading private sector conference on US Monetary policy) and is a research associate for the National Bureau of Economic Research, and a research fellow for the Centre for Economic Policy Research.  He is a co-director of the Chicago Booth Kent A. Clark Center on Global Markets.

He has advised numerous government and international organizations, including the Cabinet Office of the Japanese Prime Minister, the European Central Bank, the Swedish Riksbank, the International Monetary Fund, the United States Congressional Budget Office and the Federal Reserve Banks of Chicago and New York.  He has testified before the U.S. Congress and the U.K. Parliament.  From 2016 to 2022, he was an external member of the Bank of England’s Financial Policy Committee.

He has taught courses on Corporation Finance, Advanced Macroeconomics, Understanding Central Banks, Analyzing Financial Crises and Anti-Money Laundering Laws.  He won the Emory Williams Award for Teaching Excellence at Chicago Booth in 2014.

Among the various awards he has received is the “The Order of the Rising Sun, Gold Rays with Neck Ribbon” from the Emperor of Japan, and appointment as an honorary Commander of the Most Excellent Order of the British Empire (CBE) from the King of England.  He received his Bachelor’s degree from the University of California at Davis and his PhD in economics from the Massachusetts Institute of Technology.  He is a first-generation Indian American.  

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“Anti-Money Laundering: Opportunities for Improvement” (with Kathryn Judge), Wharton Initiative on Financial Policy and Regulation White Paper, February 2024. 

Monetary Policy and Financial Stability: Governance Design Considerations” prepared for the “The Review of the Reserve Bank of Australia”, March 2023.

"Price Discrimination and Mortgage Choice" (with Jamie Coen and May Rostom), NBER Working Paper 31652, November 2023. 

"Optimal Bank Regulation in the Presence of Credit and Run Risk", (with Dimitrios P. Tsomocos and Alexandros P. Vardoulakis), Journal of Political Economy, Forthcoming. 

“Is There Too Much Benchmarking in Asset Management?” (with Natalia Kovrijnykh, Jane Li, and Anna Pavlova), American Economic Review, April 2023, 113(4), pp. 1112-41.

“What Happens in Vegas Doesn’t Stay in Vegas” in Edward Robinson, Claudio Borio and Hyun Song Shin, editors. Macro-Financial Stability Policy in a Globalised World: Lessons From
International Experience.
 World Scientific Publishing Co Pte Ltd, 2023, pp. 59-72.

Monetary Policy When the Central Bank Shapes Financial-Market Sentiment “(with Jeremy C. Stein), Journal of Economic Perspectives, 37(1), Winter 2023, pp. 53-76.

“Some Benefits and Risks of a Hot Economy” (with Seth B. Carpenter, Ethan S. Harris, Peter Hooper, and Kenneth D. West) prepared for U.S. Monetary Policy Forum, Initiative on Global
Markets, University of Chicago Booth School of Business, 2022.

"The Benchmark Inclusion Subsidy” with Natalia Kovrijnykh, Jane Li, and Anna Pavlova, Journal of Financial Economics, 2021, 142(2) November, pp. 756-774.

"The Great Disconnect: The Decoupling of Wage and Price Inflation in Japan" with Takeo Hoshi, in Takeo Hoshi and Philip Lipscy eds. The Political Economy of the Abe Government and Abenomics Reforms, Cambridge University Press, 2021, pp. 170-199. 

"What is Swing Pricing?", with David Kohn and David Wessel, Brookings, August 2021.

"Task Force on Financial Stability", with Glenn Hubbard, Donald Kohn, Laurie Goodman, Kathryn Judge, Ralph Koijen, Blythe Masters, Sandie O'Connor and Kara Stein, June 2021.

"What Happens in Vegas Doesn't Stay in Vegas," Monetary Authority of Singapore and Bank for International Settlement Conference on Macro-financial Stability Policy in a Globalised World: Lessons from International Experience, 26 May 2021, Keynote Speech.

Contact Me

The University of Chicago Booth School of Business
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voice: (773) 702-7260
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