The U.S. Department of the Treasury on Nov. 14 announced that Anil Kashyap, a Chicago Booth professor and an expert on banking and monetary policy, has been appointed to serve on the Financial Research Advisory Committee of the Office of Financial Research. He also will chair the subcommittee on research.
Kashyap is among 30 distinguished professionals in economics, finance, financial services, data management, risk management and information technology who will serve on the committee, the Treasury noted in its announcement. Members include two Nobel laureates in economics; a former vice chairman of the Federal Reserve; leaders in business and nonprofit fields; and prominent researchers at major universities and think tanks.
The committee members will advise the Office of Financial Research, “bringing diverse perspectives to inform the OFR’s research and data agendas and to help the OFR fulfill its mission,” according to the Treasury announcement. The advisory committee and the Office of Financial Research will work together to develop and employ best practices for data management, data standards and research methodologies.
The Dodd-Frank Wall Street Reform and Consumer Protection Act established the Office of Financial Research within the U.S. Department of the Treasury. “The OFR serves the Financial Stability Oversight Council, its member agencies and the public by improving the quality, transparency and accessibility of financial data and information; conducting and sponsoring research related to financial stability; and promoting best practices in risk management,” the announcement noted.
Kashyap is the Edward Eagle Brown Professor of Economics and Finance at Chicago Booth, where he teaches MBA courses in understanding central banks, and the analytics of financial crises.
In addition to his research on banking and monetary policy, Kashyap also studies business cycles, corporate finance and price setting. His scholarly work has won him numerous awards, including a Sloan Research Fellowship, the Nikkei Prize for Excellent Books in Economic Sciences and a Senior Houblon-Norman Fellowship from the Bank of England.
Before joining the Chicago Booth faculty in 1991, Kashyap spent three years as an economist for the Board of Governors of the Federal Reserve System. He currently is a consultant for the Federal Reserve Bank of Chicago and serves as a member of the Economic Advisory Panel of the Federal Reserve Bank of New York.
He graduated from the University of California, Davis, in 1982, with a BA in economics and statistics, with highest honors. In 1989, he earned a PhD from the Massachusetts Institute of Technology.