Financial Crisis Experts Guide

Faculty experts at Columbia University are available to speak to the news media about the current financial crisis, with unique perspectives ranging to economics, finance, political implications, sociology, international affairs and history.

David Beim

David Beim

After a 25-year career in investment banking, Beim joined Columbia’s faculty to teach and research emerging financial markets, debt pricing and business ethics. Beim’s textbook Emerging Financial Markets, co-authored by Columbia colleague Charles Calomiris, was published in 2000. The two also co-authored the book U.S. Bank Deregulation in Historical Perspective. Beim still serves as a director of a cluster of mutual funds managed by Merrill Lynch.

Investment banking; corporate finance; emerging financial markets; business ethics; debt pricing
Professor of Professional Practice, Finance and Economics Division; Bernstein Faculty Leader, Sanford C. Bernstein & Co. Center for Leadership and Ethics, Columbia Business School
Amar Bhidé

Amar Bhidé

Bhidé has published widely in the area of entrepreneurship, strategy, contracting and firm governance. Among his eight Harvard Business Review articles are “Efficient Markets, Deficient Governance,” “How Entrepreneurs Craft Strategies That Work,” “Bootstrap Finance: The Art of Start-ups” and “Hustle as Strategy.” He also recently completed a book, The Origin and Evolution of New Businesses, which builds on systematic studies of successful entrepreneurs, cases, teaching notes and his Harvard Business Review articles. Bhidé is a former senior engagement manager at McKinsey & Company, vice president of E. F. Hutton and associates fellow at Harvard Business School.
Entrepreneurship; strategy; contracting; governance
Lawrence D. Glaubinger Professor of Business, Columbia Business School
Charles Calomiris

Charles Calomiris

Calomiris’ research spans areas such as banking, corporate finance, financial history and monetary economics. In addition to his research at Columbia, he teaches doctoral-level courses at the World Bank and the International Monetary Fund. He also has worked with the Federal Reserve Banks of New York, Chicago, Cleveland, St. Louis and Philadelphia, the Federal Reserve Board, and the governments of Mexico, Argentina, Japan, China and El Salvador. He serves on the editorial board of multiple economic and business journals and is the co-author (with Columbia colleague David Beim) of books that include U.S. Bank Deregulation in Historical Perspective.

Federal Reserve; interest rates; emerging financial markets; financial history; corporate finance
Henry Kaufman Professor of Financial Institutions, Finance and Economics Division, Columbia Business School
Guillermo Calvo

Guillermo Calvo

Calvo has served as an economic adviser to several governments in Latin America and Eastern Europe. He also has testified before Congress on such issues as dollarization and the 1994 Mexican crisis. A recipient in 2000 of the King Juan Carlos Prize in Economics and the author of more than 100 papers in leading economic journals, Calvo’s recent work involves emerging market economies.

Latin American economics; emerging markets; transition economies; monetary theory; capital markets; dollarization
Professor of International and Public Affairs and director, Program in Economic Policy Management, School of International and Public Affairs
Richard H. Clarida

Richard H. Clarida

Clarida has served as Assistant Secretary of the Treasury for Economic Policy for the Bush administration and as Senior Staff Economist in the Reagan Administration. As well as advising on US and global economies, international capital flows, corporate governance, and the US debt, Clarida has published work concerning monetary policy, exchange rates, and interest rates. He has been an economic consultant for prominent financial firms and is a member of the council on Foreign Relations, the National Bureau of Economic Research, and the director of the NBER Project on G7 Current Account Imbalances.

Monetary policy; exchange rates; interest rates; international capital flows
C. Lowell Harriss Professor of Economics and Professor of International and Public Affairs, Department of Economics and School of International and Public Affairs
John Coffee

John Coffee

Coffee, listed by the National Law Journal as one of “The 100 Most Influential Lawyers in the United States,” is an expert on securities law. He is a member or former member of the Economic Advisory Board to Nasdaq; the Legal Advisory Board to the National Association of Securities Dealers; and the Legal Advisory Committee to the Board of Directors of the New York Stock Exchange. He has testified before Congress on such issues as Enron and the liability of financial “gatekeepers,” the public offering of private equity firms and/or hedge funds, and insider trading.

Corporations; securities regulation; class actions; criminal law; white-collar crime
Adolf A. Berle Professor of Law, Columbia Law School
Padma Desai

Padma Desai

Desai, a top scholar on Russia and the Soviet Union, has turned her recent research efforts to economic reforms in Russia and the emerging market economies, though her writings extend to other transition and emerging market economies. A former U.S. Treasury Advisor to the Russian Finance Ministry, Desai’s recent books include Financial Crisis, Contagion, and Containment: From Asia to Argentina and Conversations on Russia, a collection of interviews with such distinguished persons as Boris Yeltsin and Vladimir Putin.

Soviet Union; Russia; transition and emerging market economies
Gladys and Roland Harriman Professor of Comparative Economic Systems, Department of Economics, and director, Center for Transition Economies
David Epstein

David Epstein

Epstein’s expertise covers democracy studies as well as political economy, or how economic systems generate resources through production and trade, both domestically and internationally, and how political systems allocate and reallocate these goods. He has consulted for the World Bank and sits on the federal government's Political Instability Task Force. His recent writings include "Democratic Transitions" and The Future of the Voting Rights Act. Along with colleague Sharyn O’Halloran, he received the 2005 Decade of Behavior Research Award in recognition of their work on the impact of racial redistricting on the democratic process.

Political economy; American politics; redistricting
Professor of Political Science, Department of Political Science; co-director, Center on Political Economy and Comparative Institutional Analysis
Irene Finel-Honigman

Irene Finel-Honigman

Finel-Honigman served as a consultant to the French Embassy Cultural Services on Business and Economic French programs in US universities and as Senior Advisor on Finance Policy in the Clinton Administration, where she introduced the initiative of the European Monetary Union and implications for US competitiveness. She is the author of European Monetary Union Banking Issues: Historical and Contemporary Perspectives and is on the Board of the International Trade and Finance Association.

European financial and corporate issues; international relations; French intellectual and financial history
Adjunct professor of international affairs, Institute for the Study of Europe, School of International and Public Affairs
Bruce Greenwald

Bruce Greenwald

Greenwald holds the Robert Heilbrunn Professorship of Finance and Asset Management at Columbia Business School and is the academic Director of the Heilbrunn Center for Graham & Dodd Investing. Described by the New York Times as "a guru to Wall Street's gurus," Greenwald is an authority on value investing with additional expertise in productivity and the economics of information.

Asset management; value investing; productivity; the economics of information
Robert Heilbrunn Professor of Asset Management and Finance, Columbia Business School
Owen D. Gutfreund

Owen D. Gutfreund

Gutfreund is an associate professor of history and urban studies and the director of the Barnard-Columbia Urban Studies program. He is affiliated with Barnard’s American studies program and the environmental policy major, and is on the editorial board for the Journal of Urban History, the Encyclopedia of New York City, and the New York Journal of American History. He is a board member of the Urban History Association and the Skyscraper Museum.

Urban history; suburbanization; urban sprawl; the built environment; sports arenas and stadiums; transportation policy
Associate professor of history and urban studies; director, Barnard-Columbia Urban Studies program
Robert Mundell

Robert Mundell

Mundell won the 1999 Nobel Prize in Economics “for his analysis of monetary and fiscal policy under different exchange rate regimes and his analysis of optimum currency areas.” He established the foundation for the theory that dominates practical policy considerations of monetary and fiscal policy in open economies. His work constitutes the core of teaching in international macroeconomics. Mundell has advised international bodies and governments, including the United Nations, the International Monetary Fund, the World Bank, the European Commission, the Federal Reserve Board, the U.S. Treasury, the Government of Canada, and several other countries in Europe and Latin America.

International macroeconomics and trade theory; monetary and fiscal policy (“stabilization policy”); optimum currency areas
University Professor, Department of Economics
Edmund Phelps

Edmund Phelps

Phelps received the 2006 Nobel Prize in Economics for “for his analysis of intertemporal tradeoffs in macroeconomic policy,” which has deepened society’s understanding of the relationship between short-run and long-run effects of economic policy. He has showed how the possibilities of stabilization policy in the future depend on today’s policy decisions; low inflation today leads to expectations of low inflation in the future. His seminal research and writings have influenced economic research as well as policy.

Economic growth; inflation; monetary policy; joblessness and disadvantaged workers
McVickar Professor of Political Economy, Department of Economics; director, The Center on Capitalism and Society
Jeffrey D. Sachs

Jeffrey D. Sachs

Sachs, special adviser to U.N. Secretary-General Ban Ki-moon, is a former director of the U.N. Millennium Project and former U.N. special adviser on the Millennium Development Goals, which aim to reduce extreme poverty, disease and hunger by the year 2015. Sachs also is president and co-founder of Millennium Promise Alliance, a nonprofit organization seeking to end extreme global poverty. An economist and a best-selling author, he is one of the leading voices for combining economic development with environmental sustainability, and as director of the Earth Institute, leads large-scale efforts to promote the mitigation of human-induced climate change.

Sustainable development; globalization; extreme poverty; economic development and growth
Quetelet Professor of Sustainable Development, Professor of Health Policy and Management; Director, The Earth Institute at Columbia University
Saskia Sassen

Saskia Sassen

Sassen’s research and writing focus on globalization (its social, economic and political dimensions), immigration, global cities, the new networked technologies, and changes within the liberal state that result from current transnational conditions. Her books include Territory, Authority, Rights: From Medieval to GlobalAssemblages and A Sociology of Globalization. She recently completed for UNESCO a five-year project on sustainable human settlement; she set up a network – which has since been published – of researchers and activists in more than 30 countries.

Immigration; globalization; new technologies
Professor of Sociology, Department of Sociology
Joseph Stiglitz

Joseph Stiglitz

Stiglitz, who in 2001 won the Nobel Prize in Economics, helped to create a new branch of economics, “The Economics of Information,” and has made major contributions to multiple fields: macroeconomics, monetary theory, development economics, trade theory, and public and corporate finance. He is a former World Bank senior vice president for development economics and chief economist; a former chair of the U.S. Council of Economic Advisers; and a former member of President Clinton’s Cabinet. His latest book is Making Globalization Work.

Globalization; development economics; the economies of Latin America, Asia, India and Africa; the “economics of information”
University Professor, Columbia Business School, Department of Economics (Graduate School of Arts and Sciences), and School of International and Public Affairs; co-founder and executive director of the Initiative for Policy Dialogue
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