Charles Calomiris

Curriculum Director

Program for Financial Studies

Henry Kaufman Professor of Financial Institutions

Finance and Economics

BA, Yale, 1979; PhD, Stanford, 1985

Joined CBS in 1996

Download Curriculum Vitae (PDF)

Charles Calomiris

Office
601 Uris

Phone
212-854-8748

E-mail
cc374@columbia.edu

Fax
212-316-9219

Teaching and research interest

Charles Calomiris is the Henry Kaufman Professor of Financial Institutions at the Columbia University Graduate School of Business and a professor at Columbia's School of International and Public Affairs. Professor Calomiris is a member of the Shadow Open Market Committee, the Financial Economists Roundtable, and the Advisory Scientific Committee of the European Systemic Risk Board. He is a Research Associate of the National Bureau of Economic Research. His research spans several areas, including banking, corporate finance, financial history, and monetary economics. He received a BA in economics from Yale University and a PhD in economics from Stanford University.

Chapters

Identifying the Right Mix of Capital and Cash Requirements in Prudential Regulation In Strengthening the Liquidity of the Financial System (2012)
Author(s): Charles Calomiris

More Information

Financial Crisis in the US and Beyond In World in Crisis: Insights from Six Shadow Financial Regulatory Committees From Around the World (2011)
Author(s): Charles Calomiris, Robert Eisenbeis, Robert Litan

More Information Download (PDF)

Banking Crises and the Rules of the Game In Monetary and Banking History: Essays in Honour of Forrest Capie (2011)
Author(s): Charles Calomiris

More Information Download (PDF)

Origins of the Subprime Crisis In The International Financial Crisis: Have the Rules of Finance Changed? (2011)
Author(s): Charles Calomiris

More Information

Volatile Times and Persistent Conceptual Errors: U.S. Monetary Policy, 1914–1951 In The Origins, History and Future of the Federal Reserve (2011)
Author(s): Charles Calomiris

More Information Download (PDF)

Exiting the Euro Crisis In Life in the Eurozone, with and without Sovereign Default (2011)
Author(s): Charles Calomiris

More Information

Prudential Bank Regulation: What's Broke and How to Fix It In Reacting to the Spending Spree: Policy Change We Can Afford (2009)
Author(s): Charles Calomiris

More Information Download (PDF)

Fundamentals, Panics, and Bank Distress During the Depression In Financial Crises (2008)
Author(s): Charles Calomiris, Joseph Mason

More Information

The Subprime Turmoil: What's Old, What's New, and What's Next In Maintaining Stability in a Changing Financial System (2008)
Author(s): Charles Calomiris

More Information Download (PDF)

Capital Flows, Financial Crises, and Public Policy In Globalization: What's New? (2005)
Author(s): Charles Calomiris

More Information

International Adjustment Under the Classical Gold Standard: Evidence for the U.S. and Britain, 1879-1914 In Modern Perspectives on the Gold Standard (1996)
Author(s): Charles Calomiris, R. Glenn Hubbard

More Information Download (PDF)

Journal articles

Regulatory Uncertainty Hurts Bank Stocks, Stifles Economy? In American Banker (2013)
Author(s): Charles Calomiris, Doron Nissim

More Information

Stock returns' sensitivities to crisis shocks: Evidence from developed and emerging markets In Journal of International Money and Finance (2012)
Author(s): Charles Calomiris, Inessa Love, Mara Soledad Martínez Pería

More Information Download (PDF)

An Incentive-Robust Programme for Financial Reform In The Manchester School (2011)
Author(s): Charles Calomiris

More Information

Comment on "Implementing a Macroprudential Framework: Blending Boldness and Realism" (by Claudio Borio) In Capitalism and Society (2011)
Author(s): Charles Calomiris

More Information

Incentive-Robust Financial Reform In The Cato Journal (2011)
Author(s): Charles Calomiris

More Information Download (PDF)

Profiting from government stakes in a command economy: Evidence from Chinese asset sales In Journal of Financial Economics (2010)
Author(s): Raymond Fisman, Yongxiang Wang, Charles Calomiris

More Information Download (PDF)

Banking Crises Yesterday and Today In Financial History Review (2010)
Author(s): Charles Calomiris

More Information Download (PDF)

Reassessing the Fed's Regulatory Role In The Cato Journal (2010)
Author(s): Charles Calomiris

More Information Download (PDF)

The Political Lessons of Depression-Era Banking Reform In Oxford Review of Economic Policy (2010)
Author(s): Charles Calomiris

More Information

Financial Innovation, Regulation, and Reform In The Cato Journal (2009)
Author(s): Charles Calomiris

More Information Download (PDF)

Preserving Slave Families for Profit: Traders' Incentives and Pricing in the New Orleans Slave Market In The Journal of Economic History (2009)
Author(s): Charles Calomiris, Jonathan Pritchett

More Information Download (PDF)

Relationship Banking and the Pricing of Financial Services In Journal of Financial Services Research (2009)
Author(s): Charles Calomiris, Thanavut Pornrojnangkool

More Information Download (PDF)

Resolving the puzzle of the underissuance of national bank notes In Explorations in Economic History (2008)
Author(s): Charles Calomiris, Joseph Mason

More Information Download (PDF)

Venture Capital as Human Resource Management In Journal of Economics and Business (2008)
Author(s): Charles Calomiris, Antonio Gledson de Carvalho, Joao Amaro de Matos

More Information

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts In Journal of Empirical Legal Studies (2007)
Author(s): Charles Calomiris, Donna Hitscherich

More Information Download (PDF)

Devaluation with contract redenomination in Argentina In Annals of Finance (2007)
Author(s): Charles Calomiris

More Information Download (PDF)

The Regulatory Record of the Greenspan Fed In The American Economic Review (2006)
Author(s): Charles Calomiris

More Information Download (PDF)

Credit Card Securitization and Regulatory Arbitrage In Journal of Financial Services Research (2004)
Author(s): Charles Calomiris, Joseph Mason

More Information Download (PDF)

Bank Capital and Portfolio Management: The 1930s, "Capital Crunch," and Scramble to Shed Risk In Journal of Business (2004)
Author(s): Charles Calomiris, Berry Wilson

More Information Download (PDF)

Fundamentals, Panics, and Bank Distress During the Depression In American Economic Review (2003)
Author(s): Charles Calomiris, Joseph Mason

More Information Download (PDF)

Consequences of Bank Distress during the Great Depression In The American Economic Review (2003)
Author(s): Charles Calomiris, Joseph Mason

More Information Download (PDF)

Tax Policy, Internal Finance, and Investment: Evidence from the Undistributed Profits Tax of 1936-1937 In Journal of Business (1995)
Author(s): Charles Calomiris, R. Glenn Hubbard

More Information Download (PDF)

Financial Factors in the Great Depression In The Journal of Economic Perspectives (1993)
Author(s): Charles Calomiris

More Information Download (PDF)

The Role of Demandable Debt in Structuring Optimal Banking Arrangements In The American Economic Review (1991)
Author(s): Charles Calomiris, Charles Kahn

More Information Download (PDF)

Books

Encyclopedia of Financial Globalization (2012)
Author(s): Charles Calomiris

More Information

Fragile Banks, Durable Bargains: Why Banking Is All About Politics and Always Has Been (2012)
Author(s): Charles Calomiris, Stephen Haber

More Information

Sustaining India's Growth Miracle (2008)
Author(s): Jagdish Bhagwati, Charles Calomiris

More Information

Emerging Financial Markets (2000)
Author(s): Charles Calomiris

More Information

Working Papers

No Free Shop: Why Target Companies in MBOs and Private Equity Transactions Sometimes Choose Not to Buy "Go Shop" Options (2013)
Author(s): Adonis Antoniades, Charles Calomiris, Donna Hitscherich

More Information Download (PDF)

Why and How to Design a Contingent Convertible Debt Requirement (2012)
Author(s): Charles Calomiris, Richard Herring

More Information Download (PDF)

Did Doubling Reserve Requirements Cause the Recession of 1937–1938? A Microeconomic Approach Working Paper 2011–002A (2011)
Author(s): Charles Calomiris, Joseph Mason, David C. Wheelock

More Information Download (PDF)

Underwriting Costs of Seasoned Equity Offerings: Cross-Sectional Determinants and Technological Change, 1980–2008 Working paper (2010)
Author(s): Charles Calomiris

More Information

Beyond Basel and the Dodd-Frank Bill (2010)
Author(s): Charles Calomiris

More Information Download (PDF)

Luke's Oikonomia: The Anthropology of Salvation Working paper (2010)
Author(s): Charles Calomiris

More Information

The (Mythical?) Housing Wealth Effect Working Paper 15075 (2009)
Author(s): Charles Calomiris, Stanley Longhofer, William Miles

More Information Download (PDF)

The Foreclosure-House Price Nexus: Lessons from the 2007–2008 Housing Turmoil Working Paper No. 14294 (2008)
Author(s): Charles Calomiris, Stanley Longhofer, William Miles

More Information Download (PDF)

Activity-Based Valuation of Bank Holding Companies Working Paper No. 12918 (2007)
Author(s): Charles Calomiris, Doron Nissim

More Information Download (PDF)

Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston Working Paper No. 11351 (2005)
Author(s): Charles Calomiris, Thanavut Pornrojnangkool, Thanavut Pornrojnangkool

More Information Download (PDF)

The Technical Challenge to Accurately Valuing Employee Stock Options Working Paper (2005)
Author(s): Charles Calomiris, Kevin Hassett, Randall Kroszner, Lawrence Lindsey

More Information Download (PDF)

What's Wrong with Expensing Employee Stock Options? AEI Studies on Financial Market Deregulation (2005)
Author(s): Charles Calomiris

More Information Download (PDF)

The Political Economy of Bank Entry Restrictions: Theory and Evidence from the U.S. in the 1920s Working Paper (2004)
Author(s): Charles Calomiris, Carlos Ramírez

More Information Download (PDF)

Options Pricing and Accounting Practice American Enterprise Institute for Public Policy Research (2004)
Author(s): Charles Calomiris, R. Glenn Hubbard

More Information Download (PDF)

Government Credit Policy and Industrial Performance: Japanese Machine Tool Producers, 1963–91 Policy Research Working Paper 1434 (1995)
Author(s): Charles Calomiris, Charles Himmelberg

More Information Download (PDF)

Forthcoming Articles

Crisis-Related Shifts in the Market Valuation of Banking Activities In Journal of Financial Intermediation (2014)
Author(s): Charles Calomiris, Doron Nissim

More Information

Firms' Sensitivities to "Crisis Shocks" and the Cross-Section of Global Equity Returns In Journal of International Money and Finance (2011)
Author(s): Charles Calomiris

More Information