Meet the Economists

John C. Driscoll
Education
- Ph.D., Economics, Harvard University, 1995
- M.A., Economics, Harvard University, 1992
- S.B., Physics and Economics, Massachusetts Institute of Technology, 1990
- Banking
- Household Finance
Economist
Board of Governors of the Federal Reserve System
2002 - presentAssistant Professor of Economics
Brown University
1995 - 2002Faculty Research Fellow
National Bureau of Economic Research
1999 - 2002Adjunct Professor
The Johns Hopkins University
2004 - presentSenior Economist
Council of Economic Advisers
2004 - 2005Policy Advisor
U.S. Department of the Treasury, Financial Stability Oversight Council
2017
- Adams, Robert M., Kenneth P. Brevoort, and John C. Driscoll (2021). "Is Lending Distance Really Changing? Distance Dynamics and Loan Composition in Small Business Lending," Finance and Economics Discussion Series 2021-011. Board of Governors of theFederal Reserve System (U.S.).
- Vojtech, Cindy M., Benjamin S. Kay, and John C. Driscoll (2020). "The Real Consequences of Bank Mortgage Lending Standards," Journal of Financial Intermediation, vol. 44 (October).
- Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim (2019). "Macroeconomic Effects of Banking Sector Losses across Structural Models," International Journal of Central Banking, vol. 15, no. 3, pp. 137-204.
- Adams, Robert, and John Driscoll (2018). "How the Largest Bank Holding Companies Grew: Organic Growth or Acquisitions?" FEDS Notes 2018-12-21. Board of Governors of the Federal Reserve System (U.S.).
- Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim (2015). "Macroeconomic Effects of Banking Sector Losses across Structural Models," BIS Working Paper, no. 507. Bank for International Settlements.
- Guerrieri, Luca, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Michael T. Kiley, Mohammad R. Jahan-Parvar, Albert Queraltó, and Jae W. Sim (2015). "Macroeconomic Effects of Banking Sector Losses across Structural Models," Finance and Economics Discussion Series 2015-044. Board of Governors of the Federal Reserve System (U.S.).
- Covas, Francisco, and John C. Driscoll (2014). "Bank Liquidity and Capital Regulation in General Equilibrium," Finance and Economics Discussion Series 2014-85. Board of Governors of the Federal Reserve System (U.S.).
- Driscoll, John C., and Steinar Holden (2014). "Behavioral Economics and Macroeconomic Models," Journal of Macroeconomics, vol. 41, pp. 133-147.
- Bassett, William F., Mary Beth Chosak, John C. Driscoll, and Egon Zakrajšek (2014). "Changes in Bank Lending Standards and the Macroeconomy," Journal of Monetary Economics, vol. 62, pp. 23-40.
- Agarwal, Sumit, John C. Driscoll, and David I. Laibson (2013). "Optimal Mortgage Refinancing: A Closed-Form Solution," Journal of Money, Credit, and Banking, vol. 45, no. 4, pp. 591-622.
- Driscoll, John C., and Ruth A. Judson (2013). "Sticky Deposit Rates," Finance and Economics Discussion Series 2013-80. Board of Governors of the Federal Reserve System (U.S.).
- Driscoll, John C., and Steinar Holden (2012). "Fairness and Inflation Persistence," in McDonald, Ian M. ed., Behavioural Macroeconomics. Elgar Reference Collection. International Library of Critical Writings in Economics, Series no. 265. Cheltenham, U.K. and Northampton, Mass.: Elgar, pp. 259-270.
- Agarwal, Sumit, Souphala Chomsisengphet, and John C. Driscoll (2011). "How do Private Firms use Credit Lines?" Economic Perspectives, vol. 35, no. 2, pp. 71-79.
- Buch, Claudia M., John C. Driscoll, and Charlotte Ostergaard (2010). "Cross-Border Diversification in Bank Asset Portfolios," International Finance, vol. 13, no. 1, pp. 79-108.
- Agarwal, Sumit, John C. Driscoll, Xavier Gabaix, and David Laibson (2009). "The Age of Reason: Financial Decisions Over the Life-Cycle with Implications for Regulation," Brookings Papers on Economic Activity, no. 2, pp. 51-117.
- Agarwal, Sumit, John C. Driscoll, Xavier Gabaix, and David Laibson (2008). "Learning in the Credit Card Market," NBER Working Papers 13822. National Bureau of Economic Research.
- Driscoll, John C. (2004). "Does Bank Lending Affect Output? Evidence from the U.S. States," Journal of Monetary Economics, vol. 51, no. 3, pp. 451-471.
- Driscoll, John C., and Steinar Holden (2004). "Fairness and Inflation Persistence," Journal of the European Economic Association, vol. 2, no. 2-3, pp. 240-251.
- Driscoll, John C., and Harumi Ito (2003). "Sticky Prices, Coordination and Enforcement," Topics in Macroeconomics, Vol. 3, no. 1.
- Driscoll, John C., and Steinar Holden (2003). "Coordination, Fair Treatment and Inflation Persistence," Finance and Economics Discussion Series 2003-34. Board of Governors of the Federal Reserve System (U.S.).
- Holden, Steinar, and John C. Driscoll (2003). "Inflation Persistence and Relative Contracting," American Economic Review, vol. 93, no. 4, pp. 1369-1372.
- Driscoll, John C. (2002). "Credit Effects in the Monetary Mechanism: Commentary," Federal Reserve Bank of New York Economic Policy Review, vol. 8, no. 1, pp. 237-241.
- Driscoll, John C., and Aart C. Kraay (1998). "Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data," The Review of Economics and Statistics, vol. 80, no. 4, pp. 549-560.
- Driscoll, John Christopher (1995). "Essays on Money," Ph.D. dissertation, Harvard University.
- Rotemberg, Julio J., John C. Driscoll, and James M. Poterba (1995). "Money, Output, and Prices: Evidence from a New Monetary Aggregate," Journal of Business and Economic Statistics, vol. 13, no. 1, pp. 67-83.
conference
July 2016NBER ME Summer Institute
The Real Consequences of Bank Mortgage Lending Standards
seminar
August 2015Bundesbank
The Real Consequences of Bank Mortgage Lending Standards
conference
May 2015NUS Conference on Real Estate
The Real Consequences of Bank Mortgage Lending Standards
seminar
May 2014FRB-New York
Stick Deposit Rates
conference
September 2013FRS System Committee Meeting on Financial Regulation
Bank Capital and Liquidity Regulation
conference
September 2012FRB-Philadelphia Payments Center Conference
Panel Discussion on Learning in Consumer Credit
discussion
January 2012ASSA Meetings
Discussion of Stango and ZInman, "Borrowing High vs. Borrowing Higher"
seminar
November 2011Federal Trade Commission
Learning in the Credit Card Market
conference
November 2011Federal Reserve Conference on Liquidity Regulation
The Macroeconomic Impact of Adding Liquidity Regulations to Bank Capital Regulations
discussion
March 2011B.E. Journal/FRB-SF Conference on Geography and Macroeconomics
Discussion of "Banking Conditions and the Effects of Monetary Policy"
conference
January 2011Econometric Society Meetings
Identifying the Macroeconomic Effects of Bank Lending Supply Shocks
conference
January 2011Federal Reserve Day-Ahead Conference
Identifying the Macroeconomic Effects of Bank Lending Supply Shocks
conference
September 2010Bundesbank/FRB-Cleveland Conference on Household Finance
Learning in the Credit Card Market
seminar
February 2010American University
Learning in the Credit Card Market
conference
November 2009NBER Monetary Economics Conference
Sticky Deposit Rates
conference
May 2016UPenn/World Economic Forum Conference
Panel Discussion on Aging and Cognition
Awards
- 2010
TIAA-CREF
Paul Samuelson Award Certificate of Excellence
- 2013
The Johns Hopkins University
Excellence in Teaching
Conference Organization
June 2019 | San Francisco
IBEFA Summer Meetings
Program Committee Chair
January 2021 | Online
IBEFA ASSA Sessions
Program Committee Chair
Editor
- Associate Editor, Financial Planning Review, 2018-2019
Referee
- The American Economic Review
- The Quarterly Journal of Economics
- Journal of Political Economy
- Journal of Finance
- Journal of Monetary Economics
- Journal of Money, Credit, and Banking
- Review of Economics and Statistics
- Journal of Banking and Finance
Professional Affiliation
- American Economic Association
- Econometric Society
- International Banking, Economics, and Finance Association (IBEFA): President, past Program Chair and Vice President