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Meet the Economists

Photo of John C. Driscoll

John C. Driscoll

Economist Consumer Finance Section Research and Statistics
john.c.driscoll@frb.gov

Education

  • Ph.D., Economics, Harvard University, 1995
  • M.A., Economics, Harvard University, 1992
  • S.B., Physics and Economics, Massachusetts Institute of Technology, 1990
Current Research Topics
  • Macroeconomic Effects of Bank Lending
  • Consumer Credit
  • Economist

    Board of Governors of the Federal Reserve System

    2002 - present
  • Assistant Professor of Economics

    Brown University

    1995 - 2002
  • Faculty Research Fellow

    National Bureau of Economic Research

    1999 - 2002
  • Adjunct Professor

    The Johns Hopkins University

    2004 - present
  • Senior Economist

    Council of Economic Advisers

    2004 - 2005
  • Policy Advisor

    U.S. Department of the Treasury, Financial Stability Oversight Council

    2017
  • 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.
  • 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 Zakrajsek (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, 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," 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 2016

    NBER ME Summer Institute

    The Real Consequences of Bank Mortgage Lending Standards

  • seminar

    August 2015

    Bundesbank

    The Real Consequences of Bank Mortgage Lending Standards

  • conference

    May 2015

    NUS Conference on Real Estate

    The Real Consequences of Bank Mortgage Lending Standards

  • seminar

    May 2014

    FRB-New York

    Stick Deposit Rates

  • conference

    September 2013

    FRS System Committee Meeting on Financial Regulation

    Bank Capital and Liquidity Regulation

  • conference

    September 2012

    FRB-Philadelphia Payments Center Conference

    Panel Discussion on Learning in Consumer Credit

  • discussion

    January 2012

    ASSA Meetings

    Discussion of Stango and ZInman, "Borrowing High vs. Borrowing Higher"

  • seminar

    November 2011

    Federal Trade Commission

    Learning in the Credit Card Market

  • conference

    November 2011

    Federal Reserve Conference on Liquidity Regulation

    The Macroeconomic Impact of Adding Liquidity Regulations to Bank Capital Regulations

  • discussion

    March 2011

    B.E. Journal/FRB-SF Conference on Geography and Macroeconomics

    Discussion of "Banking Conditions and the Effects of Monetary Policy"

  • conference

    January 2011

    Econometric Society Meetings

    Identifying the Macroeconomic Effects of Bank Lending Supply Shocks

  • conference

    January 2011

    Federal Reserve Day-Ahead Conference

    Identifying the Macroeconomic Effects of Bank Lending Supply Shocks

  • conference

    September 2010

    Bundesbank/FRB-Cleveland Conference on Household Finance

    Learning in the Credit Card Market

  • seminar

    February 2010

    American University

    Learning in the Credit Card Market

  • conference

    November 2009

    NBER Monetary Economics Conference

    Sticky Deposit Rates

  • conference

    May 2016

    UPenn/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

Referee
  • The American Economic Review
  • The Quarterly Journal of Economics
  • Journal of Political Economy
  • Journal of Monetary Economics
  • Journal of Money, Credit, and Banking
  • Review of Economics and Statistics
Professional Affiliation
  • American Economic Association
  • Econometric Society
  • International Banking, Economics, and Finance Association (IBEFA)
Last update: May 19, 2017