Darrell Duffie

Senior Fellow
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Biography: 

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at Stanford University's Graduate School of Business, professor (by courtesy) at the Department of Economics, and Senior Fellow (by courtesy) at the Hoover Institution.

Duffie is a fellow of the Econometric Society, a research fellow of the National Bureau of Economic Research, and a fellow of the American Academy of Arts and Sciences. He was the 2009 president of the American Finance Association. From October 2008 to April 2018 Duffie was a member of the board of directors of Moody’s Corporation. From 2013 to 2017 he chaired the Financial Stability Board’s Market Participants Group on Reference Rate Reform.

Duffie’s recent work focuses on the design and regulation of capital markets. His research is published in Econometrica, Journal of Political Economy, and Journal of Finance, among other journals. His most recent books are How Big Banks Fail: And What to Do about It (Princeton University Press, 2010), Measuring Corporate Default Risk (Oxford University Press, 2011), and Dark Markets: Asset Pricing and Information Trasmission in Over-the-Counter Markets (Princeton University Press, 2012).

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Recent Commentary

The Squam Lake Report: Fixing the Financial System

by Darrell Duffie, John H. Cochranevia Princeton University Press
Monday, June 14, 2010

In the fall of 2008, fifteen of the world's leading economists--representing the broadest spectrum of economic opinion--gathered at New Hampshire's Squam Lake. Their goal: the mapping of a long-term plan for financial regulation reform.

Ending Government Bailouts As We Know Them image cover
Books

Ending Government Bailouts As We Know Them

by Nicholas F. Brady, Darrell Duffie, Joseph A. Grundfest, Richard J. Herring, Thomas M. Hoenig, Thomas Jackson, William F. Kroener III, Charles S. Morris, Kenneth E. Scott, George P. Shultz, Kenneth Spong, Johannes Stroebel, Kimberly Anne Summe, John B. Taylor, Paul Volckervia Hoover Institution Press
Monday, March 15, 2010

The American people are clearly upset about the massive government bailouts of faltering organizations and the consequent commitment of taxpayer dollars-as well as the heavy involvement of the federal government in private sector activities.

Stock Markets
Analysis and Commentary

In Defense of Financial Speculation

by Darrell Duffievia Wall Street Journal
Wednesday, February 24, 2010

George Soros, Washington Democratic Sen. Maria Cantwell and others are proposing to curb speculative trading and even outlaw it in credit default swap (CDS) markets. . . .

The Road Ahead for the Fed
Books

The Road Ahead for the Fed

by George P. Shultz, Allan H. Meltzer, Peter R. Fisher, Donald L. Kohn, James D. Hamilton, John B. Taylor, Myron S. Scholes, Darrell Duffie, Andrew Crockett, Michael J. Halloran, Richard J. Herring, John D. Ciorciarivia Hoover Press
Tuesday, November 17, 2009

The Federal Reserve is the single most important economic policy institution in the United States. Its recent unprecedented actions and interventions have raised serious concerns in many quarters about inflation, as well as the independence and effectiveness of the Fed.

Darrell Duffie is the Dean Witter Distinguished Professor of Finance at the Graduate School of Business, Stanford University.

How Should We Regulate Derivatives’ Markets?

by Darrell Duffievia Defining Ideas
Tuesday, August 25, 2009

Reformers must rewrite the rules and support the market efficiencies of the derivatives market.

Complicated Roads
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Derivatives and Mass Financial Destruction

by Darrell Duffievia Wall Street Journal
Wednesday, October 22, 2008

Complex financial products can be useful if regulated properly.

Testimony on the Credit Crunch

featuring Darrell Duffievia Analysis
Wednesday, July 9, 2008

Testimony before Senate Committee on Banking, Housing, and Urban Affairs

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