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Meet the Researchers

Photo of John C. Driscoll

John C. Driscoll

Principal Economist Consumer Finance Section Research and Statistics
[email protected]

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
  • Banking and Financial Institutions
  • Consumer Finance
  • 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 - 2019
  • Senior Economist

    Council of Economic Advisers

    2004 - 2005
  • Policy Advisor

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

    2017
  • The Effects of Credit Score Migration on Subprime Auto Loan and Credit Card Delinquencies
    John C. Driscoll, Jessica N. Flagg, Bradley Katcher, and Kamila Sommer
    FEDS Notes (2024)
    https://doi.org/10.17016/2380-7172.3419
  • Is Lending Distance Really Changing? Distance Dynamics and Loan Composition in Small Business Lending
    Robert M. Adams, Kenneth P. Brevoort, and John C. Driscoll
    Journal of Banking & Finance (2023)
    https://doi.org/10.1016/j.jbankfin.2023.107006
    See also » FRB Working Paper (2021)
  • Is Lending Distance Really Changing? Distance Dynamics and Loan Composition in Small Business Lending
    Robert M. Adams, Kenneth P. Brevoort, and John C. Driscoll
    Finance and Economics Discussion Series (2021)
    https://doi.org/10.17016/FEDS.2021.011
  • The Real Consequences of Bank Mortgage Lending Standards
    Cindy M. Vojtech, Benjamin S. Kay, and John C. Driscoll
    Journal of Financial Intermediation (2020)
    https://doi.org/10.1016/j.jfi.2019.100846
  • Macroeconomic Effects of Banking Sector Losses across Structural Models
    Luca Guerrieri, Matteo Iacoviello, Francisco Covas, John C. Driscoll, Mohammad Jahan-Parvar, Michael Kiley, Albert Queralto, and Jae Sim
    International Journal of Central Banking (2019)
    See also » FRB Working Paper (2015)
  • How the Largest Bank Holding Companies Grew: Organic Growth or Acquisitions?
    Robert Adams and John Driscoll
    FEDS Notes (2018)
    https://doi.org/10.17016/2380-7172.2282
  • Bank Liquidity and Capital Regulation in General Equilibrium
    Francisco Covas and John C. Driscoll
    Finance and Economics Discussion Series (2014)
    https://doi.org/10.17016/FEDS.2014.85
  • Behavioral Economics and Macroeconomic Models
    John C. Driscoll and Steinar Holden
    Journal of Macroeconomics (2014)
    https://doi.org/10.1016/j.jmacro.2014.05.004
    See also » FRB Working Paper (2014)
  • Changes in Bank Lending Standards and the Macroeconomy
    William F. Bassett, Mary Beth Chosak, John C. Driscoll, and Egon Zakrajšek
    Journal of Monetary Economics (2014)
    https://doi.org/10.1016/j.jmoneco.2013.12.005
    See also » FRB Working Paper (2013)
  • Sticky Deposit Rates
    John C. Driscoll and Ruth A. Judson
    Finance and Economics Discussion Series (2013)
    https://doi.org/10.17016/FEDS.2013.80
  • Optimal Mortgage Refinancing: A Closed-Form Solution
    Sumit Agarwal, John C. Driscoll, and David I. Laibson
    Journal of Money, Credit and Banking (2013)
    https://doi.org/10.1111/jmcb.12017
  • Fairness and Inflation Persistence
    John C. Driscoll and Steinar Holden
    International Library of Critical Writings in Economics series (2012)
  • How Do Private Firms Use Credit Lines?
    Sumit Agarwal, Souphala Chomsisengphet, and John C. Driscoll
    Economic Perspectives (2011)
  • Cross-Border Diversification in Bank Asset Portfolios
    Claudia M. Buch, John C. Driscoll, and Charlotte Ostergaard
    International Finance (2010)
    https://doi.org/10.1111/j.1468-2362.2010.01253.x
    See also » FRB Working Paper (2004)
  • The Age of Reason: Financial Decisions over the Life-Cycle with Implications for Regulation
    Sumit Agarwal, John C. Driscoll, Xavier Gabaix, and David Laibson
    Brookings Papers on Economic Activity (2009)
  • Learning in the Credit Card Market
    Sumit Agarwal, John C. Driscoll, Xavier Gabaix, and David Laibson
    NBER Working Paper Series (2008)
    https://doi.org/10.3386/w13822
  • Fairness and Inflation Persistence
    John C. Driscoll and Steinar Holden
    Journal of the European Economic Association (2004)
    https://doi.org/10.1162/154247604323067952
  • Does Bank Lending Affect Output? Evidence from the U.S. States
    John C. Driscoll
    Journal of Monetary Economics (2004)
    https://doi.org/10.1016/j.jmoneco.2004.01.001
    See also » FRB Working Paper (2003)
  • Inflation Persistence and Relative Contracting
    Steinar Holden and John C. Driscoll
    American Economic Review (2003)
    https://doi.org/10.1257/000282803769206340
    See also » FRB Working Paper (2003)
  • Sticky Prices, Coordination and Enforcement
    John C. Driscoll and Harumi Ito
    B.E. Journal of Macroeconomics (2003)
    https://doi.org/10.2202/1534-5998.1096
    See also » FRB Working Paper (2003)
  • Coordination, Fair Treatment and Inflation Persistence
    John C. Driscoll and Steinar Holden
    Finance and Economics Discussion Series (2003)
    https://doi.org/10.17016/FEDS.2003.34
  • Credit Effects in the Monetary Mechanism: Commentary
    John C. Driscoll
    Economic Policy Review (2002)
  • Sticky Prices, Coordination, and Collusion
    John C. Driscoll and Harumi Ito
    Working paper series (Brown University. Department of Economics) (1999)
    See also » FRB Working Paper (2003)
  • Consistent Covariance Matrix Estimation with Spatially Dependent Panel Data
    John C. Driscoll and Aart C. Kraay
    Review of Economics and Statistics (1998)
    https://doi.org/10.1162/003465398557825
  • Money, Output and Prices: Evidence from A New Monetary Aggregate
    Julio J. Rotemberg, John C. Driscoll, and James M. Poterba
    NBER Working Paper Series (1996)
    https://doi.org/10.3386/w3824
  • Money, Output, and Prices: Evidence from a New Monetary Aggregate
    Julio J. Rotemberg, John C. Driscoll, and James M. Poterba
    Journal of Business & Economic Statistics (1995)
    https://doi.org/10.1080/07350015.1995.10524580
  • Essays on Money
    John Christopher Driscoll
    Harvard University (1995)

  • discussion

    September 2022

    Financial Innovation: A Threat to Financial Stability? Conference at FRB-Atlanta and Georgia State University

    Discussion of two papers on fintech and household finance

  • discussion

    June 2021

    Western Finance Association

    Discussion of GIaninazzi, Reference Points in Refinancing Decisions

  • discussion

    May 2017

    University of Maryland Finance Conference

    Discussion of Olafsson and Pahel, The Ostrich in Us

  • discussion

    March 2019

    Midwest Finance Assocation

    Discussion of Begley, "Disaster Lending"

  • 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

Conference Organization

  • June 2019 | San Francisco

    IBEFA Summer Meetings

    Program Committee Chair

  • January 2021 | Online

    IBEFA ASSA Sessions

    Program Committee Chair

Editor
  • Associate Editor, Financial Planning Review, 2018-2019
Referee
  • The American Economic Review
  • The Quarterly Journal of Economics
  • Journal of Political Economy
  • Journal of Finance
  • Journal of Monetary Economics
  • Journal of Money, Credit, and Banking
  • Review of Economics and Statistics
  • Journal of Banking and Finance
Professional Affiliation
  • American Economic Association
  • Econometric Society
  • International Banking, Economics, and Finance Association (IBEFA): Past President, Program Chair, and Vice President
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Last Update: August 2, 2024