Robert and Susan Finocchio Endowed Chair
Professor of Economics, Department of Economics 
Leavey School of Business, Santa Clara University

Research Associate, National Bureau of Economic Research (NBER)
Research Fellow, Centre for Economic Policy Research (CEPR)
Research Fellow, CESifo
Research Associate, Centre for the Competitive Advantage of the Global Economy (CAGE)
Editor, Explorations in Economic History (highest impact-factor journal in Economic History)


Recent News

Contact Information

Office: 321E Lucas Hall
Phone: (408) 554-4340
Fax: (408) 554-2331 

Mailing Address:
Leavey School of Business
Department of Economics
Santa Clara University
500 El Camino Real
Santa Clara, CA
95053-0385 

JUNE 2017
  • I will be presenting my research on uncertainty and European inflation dynamics in the 1920s at a CEPR-Bank of England conference.
  • I will discuss a paper on sovereign debt enforcement at the NBER International Seminar on Macroeconomics (ISOM) in Vilnius, Lithuania.
MAY 2017
    • My recent research is discussed in two separate VOX columns Pegxit Pressure and End of Silver.
    • I presented new research at a conference at the Atlanta Fed on systemic risk calculations.
    • I presented my research paper on how finance can be used to sustain political and economic transformations at UC Davis, Department of Economics. We demonstrate this using evidence from samurai bonds and banks, and the transition from feudal to Meiji Japan.
    APRIL 2017
    • My paper on what happens to prices when global monetary standards end will be published in the Journal of International Money and Finance. You can see the brand new working paper version here.
    • I'll be serving as the distinguished visiting global professor at Waseda University in Tokyo, where I will be lecturing to students and presenting a research seminar on the European hyperinflations of the 1920s.
    • I'll be discussing a paper on the origins and influence of the central Bank of Japan at the Riksbank in Stockholm.
    JANUARY 2017
    • Here's my take on the current state of economic history in China. It is the introduction to the January special issue of Explorations in Economic History, which I am co-editing with Debin Ma (my co-author on this piece). There are five wonderful articles in this special issue that reflect the frontier of research in Chinese economic history. Please visit the journal's website if you want to read them.
    NOVEMBER 2016
    • Read my new working paper on how commodity prices affect the durability of hard pegs.
    OCTOBER 2016
    • Goncalo Pina and I presented our jointly-authored work on commodity prices and pegged exchange rates at at the West Coast Workshop in International Finance, co-sponsored by the San Francisco Fed and Santa Clara University. The full program is here
    • I discussed a fascinating paper on Bank Networks and Systemic Risk by Mark Paddrick, Haelim Park, Jessie Wang at the St. Louis Fed's conference on Innovations in Central Banking. Feel free to email me if you would like a copy of my discussion.
    AUGUST 2016
    • I had a very enjoyable visit to Queen's University as the John Weatherall Distinguished Fellow. 
    • I have been appointed a Research Fellow in the CESifo Network.
    JULY 2016
    • I gave a keynote address on "Swords into Bankshares" (my joint work on political transformations, finance and development in Meiji Japan) and lectured at the Fourth International Symposium on Quantitative Economic History at Peking University.
    JUNE 2016
    • I presented preliminary work on commodity prices and pegged exchange rates at a CEPR conference hosted by the Bank of Ireland.
    MAY 2016 
      • I presented preliminary work on why countries tipped into hyperinflation in the 1920s at a Systemwide Federal Reserve Conference in Richmond, VA.
      • I presented ongoing work on banking networks and balance-sheet effects during the Great Depression at the Cal Tech Economics Department Seminar.
      APRIL 2016 
      • I presented research on how finance can be used to sustain political transformations (using evidence from my work on samurai bonds in Meiji Japan) as well as my recent research on banking networks and real economic effects at the finance departments of Erasmus and Tilburg Universities, the economics departments of Waseda and Hitotsubashi Universities, and the Bank of Japan.
      MARCH 2016
        • See my working paper on how banking networks can magnify real economic downturns. Gary Richardson and I show balance-sheet effects, operating through banking networks, what we call interbank amplification, reduced aggregate lending in the U.S. economy by an estimated 15 percent during the Great Depression. I presented this work to the B.I.S. in Basel, Switzerland earlier in the month.
        DECEMBER 2015
        • My short piece entitled, "The 4D Future of Economic History: Digitally-Driven Data Design" has been published in the December issue of the Journal of Economic History. Have a look at the very interesting and related pieces on the future of economic history by Ran Abramitzky, Naomi Lamoreaux, and Bill Collins published in the same issue.