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Meet the Economists

Photo of Cindy M. Vojtech

Cindy M. Vojtech

Principal Economist Financial Institution Risk Evaluation Section Financial Stability
202-721-4517
cindy.m.vojtech@frb.gov

Education

  • Ph.D., Economics, University of California - San Diego, 2011
  • M.A., Economics, University of California - San Diego, 2008
  • B.S., Bus. Admin--Finance&Econ, Fordham University, 2000
Current Research Topics
  • Effects of Regulation
  • Bank Lending Standards
  • Economist

    Board of Governors of the Federal Reserve System

    2011 - present
  • Instructor

    Johns Hopkins University, Zanvyl Krieger School of Arts & Sciences

    2013 - present
  • Senior Policy Advisor

    National Economic Council

    2017
  • Adjunct Assistant Professor

    American University, Kogod School of Business

    2013 - 2014
  • Economist

    Bureau of Economic Analysis

    2003 - 2006
  • Investment Banking Analyst

    Lehman Brothers

    2000 - 2003
  • Kay, Benjamin, Mark D. Manuszak, and Cindy M. Vojtech (forthcoming). "Competition and Complementarities in Retail Banking: Evidence from Debit Card Interchange Regulation," Journal of Financial Intermediation.
  • Chae, Sarah, Robert F. Sarama, Cindy M. Vojtech, and James Wang (2018). "The Impact of the Current Expected Credit Loss Standard (CECL) on the Timing and Comparability of Reserves," Finance and Economics Discussion Series 2018-020. Board of Governors of the Federal Reserve System (U.S.).
  • Kara, Gazi I., and Cindy M. Vojtech (2017)."Bank Failures, Capital Buffers, and Exposure to the Housing Market Bubble," Finance and Economics Discussion Series 2017-115. Board of Governors of the Federal Reserve System (U.S.).
  • Ihrig, Jane, Edward Kim, Ashish Kumbhat, Cindy M. Vojtech, and Gretchen C. Weinbach (2017). "How Have Banks Been Managing the Composition of High-Quality Liquid Assets?" Finance and Economics Discussion Series 2017-092r. Board of Governors of the Federal Reserve System (U.S.).
  • Vojtech, Cindy M. (2017). "Post-Crisis Lending by Large Bank Holding Companies," FEDS Notes 2017-07-06. Board of Governors of the Federal Reserve System (U.S.).
  • Rezende, Marcelo, Mary-Frances Styczynski, and Cindy M. Vojtech (2016). "The Effects of Liquidity Regulation on Bank Demand in Monetary Policy Operations," Finance and Economics Discussion Series 2016-090. Board of Governors of the Federal Reserve System (U.S.).
  • Vojtech, Cindy M., Benjamin S. Kay, and John C. Driscoll (2016). "The Real Consequences of Bank Mortgage Lending Standards," Working Papers 2016-05. Office of Financial Research.
  • Kay, Benjamin S., and Cindy M. Vojtech (2016). "Corporate Governance Responses to Director Rule Changes," Journal of Leadership, Accountability and Ethics, vol. 13, no. 1, pp. 49-69.
  • Covas, Francisco B., Marcelo Rezende, and Cindy M. Vojtech (2015). "Why Are Net Interest Margins of Large Banks So Compressed?" FEDS Notes 2015-10-05. Board of Governors of the Federal Reserve System (U.S.).
  • Kay, Benjamin S., and Cindy M. Vojtech (2015). "Corporate Governance Responses to Director Rule Changes," Staff Discussion Papers 2015-02. Office of Financial Research.
  • Kay, Benjamin S., Mark D. Manuszak, and Cindy M. Vojtech (2014). "Bank Profitability and Debit Card Interchange Regulation: Bank Responses to the Durbin Amendment," Finance and Economics Discussion Series 2014-77. Board of Governors of the Federal Reserve System (U.S.).
  • Vojtech, Cindy M. (2012). "The Relationship between Information Asymmetry and Dividend Policy," Finance and Economics Discussion Series 2012-13. Board of Governors of the Federal Reserve System (U.S.).
  • Vojtech, Cindy (2011). "Understanding and Managing Corporate Agency Problems," Ph.D. dissertation, University of California, San Diego.
  • Landefeld, J. Steven, Barbara M. Fraumeni, and Cindy M. Vojtech (2009). "Accounting for Household Production: A Prototype Satellite Account using the American Time use Survey," Review of Income & Wealth, vol. 55, no. 2, pp. 205-225.
  • Landefeld, J. Steven, Rosemary D. Marcuss, Kerry Sutten, Cindy M. Vojtech, and Matthew R. Balazik (2005). "Strengthening America's Economic Infrastructure," Survey of Current Business, vol. 85, no. 8, pp. 8-11.
  • Landefeld, Steven, Barbara Fraumeni, and Cindy Vojtech (2005). "Accounting for Nonmarket Production: A Prototype Satellite Account using the American Time use Survey," BEA Papers 0056. Bureau of Economic Analysis.
  • Landefeld, J. Steven, Brent R. Moulton, and Cindy M. Vojtech (2003). "Chained-Dollar Indexes: Issues, Tips on Their Use, and Upcoming Changes," Survey of Current Business, vol. 83, no. 11, pp. 8-16.
Last update: April 9, 2018