Charles Calomiris

Distinguished Visiting Fellow
Biography: 

Charles W. Calomiris is Henry Kaufman Professor of Financial Institutions at Columbia Business School, Director of the Business School’s Program for Financial Studies and its Initiative on Finance and Growth in Emerging Markets, and a professor at Columbia’s School of International and Public Affairs. He is a Distinguished Visiting Fellow at the Hoover Institution and Co-Director of Hoover’s Program on Regulation and the Rule of Law, a Fellow at the Manhattan Institute, a member of the Shadow Open Market Committee and the Financial Economists Roundtable, and a Research Associate of the National Bureau of Economic Research. Professor Calomiris is past president of the International Atlantic Economic Society, and has served on numerous committees, including the Advisory Scientific Committee of the European Systemic Risk Board, the U.S. Congress’s International Financial Institution Advisory Commission, the Shadow Financial Regulatory Committee, and the Federal Reserve System’s Centennial Advisory Committee. He serves as co-managing editor of the Journal of Financial Intermediation.

Professor Calomiris’s research spans the areas of banking, corporate finance, financial history and monetary economics. He received a B.A. in economics from Yale University, Magna Cum Laude, and a Ph.D. in economics from Stanford University.

Professor Calomiris is the recipient of research grants from the National Science Foundation, the World Bank, the Japanese government, and many others. He holds an honorary doctorate from the University of Basel. He has consulted for central banks, the IMF, the World Bank, and many foreign governments. His most recent book (with Stephen Haber), Fragile By Design: The Political Origins of Banking Crises and Scarce Credit (Princeton 2014), has been translated into five languages, received the American Publishers 2015 Award for the best book in Business, Finance and Management, was named one of the Best Economics Books of 2014 by the Financial Times, and one of the Best Books of 2014 by The Times Higher Education Supplement and by Bloomberg Businessweek.  

Filter By:

Topic

Type

Recent Commentary

Featured

Socialism’s Empty Seduction

by Charles Calomirisvia CNS News
Friday, November 16, 2018

The overarching message of “The Opportunity Cost of Socialism”—a study recently released by the President’s Council of Economic Advisers (CEA)—is that the advocacy of socialism cannot reasonably be based on policy preferences; its attraction has always been grounded in a combination of wishful thinking and ignorance. 

Analysis and Commentary

Bluster Notwithstanding, China’s Bargaining Position Will Weaken

by Charles Calomirisvia CATO Journal
Tuesday, May 8, 2018

The Trump administration began the year by pivoting in its stated approaches to trade with China and Mexico, backing off from threats to overhaul NAFTA, and “redefining” Chinese currency manipulation to focus on trade distortions.

Analysis and Commentary

Trump Picks A Winner With Marvin Goodfriend For Fed

by Charles Calomiris, Mickey D. Levyvia E21
Wednesday, November 29, 2017

We are encouraged that the Trump administration has announced the nomination of Professor Marvin Goodfriend to the Board of Governors of the Federal Reserve. Mr. Goodfriend’s rigorous scholarly background, his deep understanding of monetary policy, and his extensive experience with the Federal Reserve and global central banks make him a superb nominee, and he would be a valuable addition to the Board of Governors.

Interviews

Charles Calomiris On Trump's Financial Regulation (10:22)

by Charles Calomiris interview with Charles Calomirisvia Bloomberg
Tuesday, May 30, 2017

Charles Calomiris, a Hoover Institution fellow and a professor at Columbia Business School, says Trump's instincts on financial regulation are right, even though his ideas aren't fully formed.

Interviews

Charles Calomiris Says Financial Regulation Is A Flop

by Charles Calomirisvia Bloomberg
Tuesday, May 30, 2017

Hoover Institution fellow Charles Calomiris discusses the lack of success of the financial regulations in the United States.

Reforming Financial Regulation After Dodd-Frank

by Charles Calomirisvia Books by Hoover Fellows
Wednesday, May 17, 2017

Post-2008 financial regulatory changes largely have been a failure. They have produced high compliance costs, while constructing regulatory mechanisms that are unlikely to achieve their intended objectives. Furthermore, financial regulation increasingly has adopted processes that are inconsistent with adherence to the rule of law, which not only threaten the fundamental norms on which are democracy is founded, but also undermine the effectiveness of regulation. 

Analysis and Commentary

Why Trump Might Win With China

by Charles Calomirisvia Wall Street Journal
Monday, April 17, 2017

Beijing may be ready to deal as it eyes slowing growth, a weakening yuan and other challenges.

Analysis and Commentary

You May Be In A Risky Business If Regulators Find It Distasteful

by Charles Calomirisvia Wall Street Journal
Thursday, February 9, 2017
Obama’s FDIC targeted payday lenders, among others, due to ‘personal moral judgments.’
Federal Reserve
Featured

Learning From The Fed's QE Experiment

by Charles Calomiris quoting Allan H. Meltzervia Forbes
Tuesday, January 5, 2016

What are the long-term consequences of the last several years of experimentation with unconventional monetary policy? The most important long-term impact of the experiment will be its influence on future policy makers’ beliefs about the desirability of such actions.

Analysis and Commentary

Trump Gets His Facts Wrong On China

by Charles Calomirisvia Forbes
Tuesday, August 25, 2015

My jaw dropped last night watching Bill O’Reilly nod in response to Donald Trump’s claims about Chinese currency depreciation. Mr. Trump explained to Mr. O’Reilly that China has been depreciating its currency for some time, and that the recent devaluation was just the last in a long series of its manipulations.

Pages