Charles Calomiris

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Biography: 

Charles W. Calomiris was a Distinguished Visiting Fellow at the Hoover Institution. 

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 was 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. In 2017, Calomiris wrote Reforming Financial Regulation After Dodd-Frank (Manhattan Institute for Policy Research), where he reviewed the shortcomings of current regulatory practice, identifies the principles that should guide our regulatory architecture, and suggests reforms that are consistent with those principles. His book co-authored 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.  

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Recent Commentary

Analysis and Commentary

Is the Obama brand "irrevocably shattered"?

by Charles Calomirisvia Arena (Politico)
Thursday, June 3, 2010

In the grand scheme of things, deals like this are not what will make the Dems lose big in November. In addition to the negatives already attached to the Obama brand, there is a long list of substantive issues...

Analysis and Commentary

No benefit of the doubt for Israel?

by Charles Calomirisvia Arena (Politico)
Tuesday, June 1, 2010

The White House decision to put statesmanship ahead of any desire to score points with the left in its reaction to the incident exemplifies the widening chasm between candidate Obama's condemnations of his predecessor's foreign policies and President Obama's continuation of those policies...

Analysis and Commentary

Obama's Katrina?

by Charles Calomirisvia Arena (Politico)
Tuesday, May 25, 2010

Moments like this define leadership. Or its absence...

Analysis and Commentary

Would a new House Republican majority operate differently than the old one?

by Charles Calomirisvia Arena (Politico)
Monday, May 17, 2010

The bigger question is: what will Republicans do to overcome voters' doubts about their commitment to promote growth...

Analysis and Commentary

McCain vs. the Constitution?

by Charles Calomirisvia Arena (Politico)
Tuesday, May 4, 2010

What all this (and the president's low popularity in the polls) has to say about the mood of the electorate is pretty simple: Americans are fed up with the poor economic policies, government control, tired rhetoric, and machine politics of the Obama administration...

Analysis and Commentary

Barro On Stimulus

by Charles Calomiris with Robert J. Barrovia National Journal
Monday, March 1, 2010

Using his original research on fiscal multipliers, Harvard economist Robert Barro argues in the Wall Street Journal that the Obama stimulus will actually lower gross domestic product by a large amount. . . .

In the News

A Recipe for Ratings Reform

by Charles Calomirisvia Economists' Voice (Berkeley Electronic Press)
Thursday, November 12, 2009

Contrary to conventional wisdom, incentives to inflate credit ratings reflect pressures from buy-side investors who use inflated ratings to reduce the impact of regulation and ratings-based restrictions on their portfolio holdings. . . .

Analysis and Commentary

In the World of Banks, Bigger Can Be Better

by Charles Calomirisvia Wall Street Journal
Monday, October 19, 2009

Legitimate concern about the risks to taxpayers and the economy posed by banks that are "too-big-to-fail" has prompted some observers...

Analysis and Commentary

Is The Stimulus Working?

by Charles Calomiris with John F. Cogan, John B. Taylorvia National Journal
Monday, September 21, 2009

As time goes by and data piles up, the debate is heating up over whether President Obama's $787 billion stimulus bill is responsible for the apparent improvement in the economy...

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Prudential Bank Regulation: What’s Broke and How to Fix It

by Charles Calomirisvia Defining Ideas
Saturday, August 1, 2009

Financial crises not only impose shortterm economic costs but also create enormous regulatory risks. The financial crisis that is currently gripping the global economy is already producing voluminous proposals for regulatory reform from all quarters.

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