NADA MORA Ph

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NADA MORA
[email protected]
[email protected]
EDUCATION
Ph.D. Economics, Massachusetts Institute of Technology, 2003
S.B. Economics, Massachusetts Institute of Technology, 1998
EMPLOYMENT
Federal Reserve Bank of Richmond, Quantitative Supervision & Research. Principal Financial Economist,
September 2015 – ; Senior Financial Economist, December 2014 – September 2015. Contributed to
supervisory modeling and quantitative bank exams mainly for stress testing (CCAR/DFAST) in two areas
(pre-provision net revenue (PPNR) and wholesale credit risk).
Federal Reserve Bank of Kansas City, Banking Research. Senior Economist, 2014; Economist, 2009 – 2013.
Bank of England, Financial Stability Area, Systemic Risk Assessment Division. Economist, 2007 – 2008.
American University of Beirut, Department of Economics. Assistant Professor, 2003 – 2007.
MIT, Department of Economics. Teaching Assistant, 2001 – 2003.
International Monetary Fund, Research Department. Research Assistant, 1998 – 1999.
JOURNAL PUBLICATIONS
“Creditor Recovery: The Macroeconomic Dependence of Industry Equilibrium”, Journal of Financial Stability,
Vol. 18, 172-186, June 2015. http://dx.doi.org/10.1016/j.jfs.2015.04.004. Working paper version available at
http://ssrn.com/abstract=2307657. Earlier circulated Federal Reserve Bank of Kansas City Working Paper No 1306.
“A Crisis of Banks as Liquidity Providers” (with Viral Acharya), Journal of Finance, 2015, Vol. 70, Issue 1, 1-43,
February 2015, Available at: http://onlinelibrary.wiley.com/doi/10.1111/jofi.12182/abstract.
Earlier circulated as “Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009
Crisis”, 2011, FRB-Kansas City WP No 11-06 and NBER WP 17838, http://www.nber.org/papers/w17838.
“Lender Exposure and Effort in the Syndicated Loan Market”, Journal of Risk and Insurance, Vol. 82, Issue 1,
205-252, March 2015, Available at: http://onlinelibrary.wiley.com/doi/10.1111/jori.12020/abstract.
A previous version appeared as Federal Reserve Bank of Kansas City Working Paper No 10-12.
“Reason for Reserve? Reserve Requirements and Credit”, Journal of Money, Credit and Banking, 2014, Volume
46, Issue 2-3, March-April 2014, 469-501, Available at: http://dx.doi.org/10.1111/jmcb.12113
Working paper version available at http://alum.mit.edu/www/namora
“The Bank Lending Channel in a Partially Dollarized Economy” Journal of Applied Economics, 2013, Vol. XVI,
No. 1, 121-151. Available at: http://www.sciencedirect.com/science/journal/15140326.
The working paper version and theory appendix are available at: http://alum.mit.edu/www/namora
“Foreign Currency Borrowing by Small Firms in Emerging Markets: When Domestic Banks Intermediate Dollars”
(with Simon Neaime and Sebouh Aintablian), Journal of Banking and Finance, 2013, Volume 37, Issue 3, 10931107. Available at: http://dx.doi.org/10.1016/j.jbankfin.2012.11.012
“Shocks to Bank Capital: Evidence from UK Banks at Home and Away” (with Andrew Logan), Applied
Economics, Volume 44(9), 2012. A previous version appeared as Bank of England Working Paper No 387, March
2010: http://www.bankofengland.co.uk/publications/workingpapers/wp387.pdf
“Funding Liquidity Risk in a Quantitative Model of Systemic Stability” (with David Aikman, Piergiorgio
Alessandri, Bruno Eklund, Prasanna Gai, Sujit Kapadia, Elizabeth Martin, Gabriel Sterne and Matthew Willison)
In the Central Bank of Chile’s Series on Central Banking, Analysis, and Economic Policies, (R. Alfaro, ed.),
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MORA
Volume XV, 2010: http://www.bcentral.cl/eng/studies/central-banking/v15.htm
A previous version appeared as Bank of England Working Paper No 372, June, 2009:
http://www.bankofengland.co.uk/publications/workingpapers/wp372.pdf
“Towards a Framework for Quantifying Systemic Stability” (with Piergiorgio Alessandri, Prasanna Gai, Sujit
Kapadia, and Claus Puhr). International Journal of Central Banking, Volume 5, 3, September 2009. Available at:
http://www.ijcb.org/journal/ijcb09q3a2.htm
“The Effect of Bank Credit on Asset Prices: Evidence from the Japanese Real Estate Boom during the 1980s”
Journal of Money, Credit, and Banking, Volume 40, 1, February 2008. Available at:
http://ideas.repec.org/a/mcb/jmoncb/v40y2008i1p57-87.html. A previous version appeared as Working Paper No.
238, 2005 Center of Japanese Economy and Business, Columbia Business School.
“Sovereign Credit Ratings: Guilty beyond Reasonable Doubt?” Journal of Banking and Finance, Volume 30, Issue
7, July 2006, pages 2041 – 2062. Available at http://dx.doi.org/10.1016/j.jbankfin.2005.05.023
“What Moves Capital to Transition Economies?” (with Pietro Garibaldi, Ratna Sahay and Jeromin Zettelmeyer)
IMF Staff Papers (now IMF Economic Review), Vol. 48, Special Transition Issue, 2002, available at
http://www.imf.org/External/Pubs/FT/staffp/2001/04/index.htm
A more detailed version appeared as IMF Working Paper WP/02/64, April 2002
FEDERAL RESERVE AND OTHER PUBLICATIONS
Finance and Accounting memos (FAMe) jagazine on “A Crisis of Banks as Liquidity Providers”, Issue 4, Summer
2016. http://www.fame-jagazine.com/readers/fame-4/memo11.xhtml
The Harvard Law School Forum on Corporate Governance and Financial Regulation blog post on “A Crisis of
Banks as Liquidity Providers”, December 8, 2014, http://blogs.law.harvard.edu/corpgov/2014/12/08/a-crisis-ofbanks-as-liquidity-providers/
“The Weakened Transmission of Monetary Policy to Consumer Loan Rates” Federal Reserve Bank of Kansas City
Economic Review, 2014, Vol. 99, first quarter: http://www.kansascityfed.org/publicat/econrev/pdf/14q1Mora.pdf
“What Determines Creditor Recovery Rates?” Federal Reserve Bank of Kansas City Economic Review, 2012, Vol.
97, second quarter: http://www.kc.frb.org/publicat/econrev/pdf/12q2Mora.pdf
“Can Banks Provide Liquidity in a Financial Crisis?” Federal Reserve Bank of Kansas City Economic Review,
2010, Vol. 95, third quarter: http://www.kc.frb.org/publicat/econrev/pdf/10q3Mora.pdf
WORKING PAPERS
“Bank Funding Costs in a Rising Interest Rate Environment” (with Jeffrey R. Gerlach and Pinar Uysal) (2016)
“A Fabricated (Sovereign) Ceiling? The Information Contribution of Bond Ratings”, mimeo (2006).
“In Pursuit of Land: Zombie Behavior in Japan”, mimeo (2005).
CONFERENCES AND INVITED SEMINARS
2016
2015
2014
Deposit Modeling Forum, Board of Governors, Washington DC
Midwest Finance Association, Annual Meeting, Chicago, Illinois
American Finance Association, Annual Meeting, Philadelphia, Pennsylvania
21st Global Finance Conference, Dubai, United Arab Emirates
American University of Beirut Olayan School of Business, Finance Seminar, Beirut, Lebanon
Federal Reserve Summer Financial Policy Conference, Atlanta, Georgia
Interagency Risk Quantification Forum (Federal Reserve, FDIC, & OCC), Arlington, Virginia
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2013
2012
2011
2010
2008
2007
2005
2004
2003
International Finance Division Seminar, Federal Reserve Board of Governors, Washington, D.C.
Financial Intermediation Research Society Annual Meeting, Minneapolis, Minnesota
48th Annual Conference on Bank Structure and Competition, Chicago, Illinois
Federal Reserve “Day Ahead” Conference on Financial Markets & Institutions, Chicago, Illinois
Financial Management Association, Annual Meeting, Denver, Colorado
Mid-Atlantic Research Conference in Finance, Annual Meeting, Villanova University, Pennsylvania
University of Kansas Business School, Finance Workshop, Lawrence, Kansas
Emporia State University, Course on Financial Crisis Recovery & Solutions, Kansas City, Missouri
ASSA MEEA Annual Meeting, Atlanta, Georgia
The Money Macro and Finance Research Group Annual Conference, London, UK
Risk Transfer Mechanisms and Financial Stability, A joint workshop by the RTF of the Basel Committee
on Banking Supervision, the CEPR, and the JFI, Basel, Switzerland
Cass Business School, The Transmission of Credit Risk and Bank Stability Conference, London, UK
Cass Business School, 2nd Emerging Market Group Conference, London, UK
BCBS/DNB Conference on Stress Testing of Credit Risk Portfolios: The Link between Macro and Micro,
Amsterdam, Netherlands
Center for Central Banking Studies, Bank of England, Course(s) on Financial Stability, London, UK
Australasian Finance and Banking Conference Annual Meeting, Sydney, Australia
Latin American and Caribbean Economic Association Annual Meeting, Paris, France
Groupement de Recherche “Economie monétaire et financière” Annual Symposium on Banking and
Monetary Economics, Strasbourg, France
European Finance Association Annual Meeting, Maastricht, Netherlands
Latin American Finance Network Annual Workshop, Buenos Aires, Argentina
GRANTS, FELLOWSHIPS, AND HONORS
Federal Reserve Bank of Kansas City President’s Award for Excellence, 2013
William and Flora Hewlett Foundation Grant, February 2006 – June 2006
Lebanese National Council for Scientific Research Grant, January 2006 – December 2006
Research Fellow, Institute of Financial Economics, American University of Beirut, June 2006 – 2007
Research Fellow, Economic Research Forum for the Arab Countries, Iran and Turkey, 2006 – 2009
University Research Board Grant, American University of Beirut, October 2004 – September 2005
Institute of Financial Economics Research Grant, American University of Beirut, 2004
Long-term Faculty Development Grant, American University of Beirut, (to support visiting scholarship at the
Center on Japanese Economy and Business, Columbia University Business School), summer 2004
Research Stipend, Professor Rudi Dornbusch, MIT, 1999-2001
Graduate Fellowship, Department of Economics, MIT, 1999-2001
TEACHING
American University of Beirut, Visiting Lecturer
Intermediate International Trade Theory; Undergraduate senior elective; Spring 2014 (3.8)
American University of Beirut, Assistant Professor
Elementary Macroeconomic Theory; Undergraduate; Fall 2003, 2004 (3.4, 3.5)
Intermediate Macroeconomics; Undergraduate; Spring and Fall 2005 (3.9, 3.9)
Intermediate International Trade Theory; Undergraduate senior elective; Fall 2003 – 2006 (3.2, 4.1, 4.3, 4.6)
Intermediate International Macro.; Undergraduate senior elective; Spring 2004, 2005, Fall 2006 (3.6, 4, 4.3)
International Monetary Economics; Masters course; Fall 2003 – 2006 (3.2, 2.9, 3.7, 3.2)
MIT, Teaching Assistant
Principles of Macroeconomics; Fall 2001
Intermediate Applied Macroeconomics; Spring 2003
DISCUSSANT SERVICE
International Banking Economics & Finance Association (IBEFA) ASSA Chicago 2017 (scheduled), Moore
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School of Business at the University of South Carolina Fixed Income and Financial Institutions Conference
Columbia SC 2016, University of North Carolina-Charlotte and International Review of Finance Conference on
Model Risk Charlotte 2016, International Banking Economics & Finance Association (IBEFA) ASSA San
Francisco 2016, Federal Reserve “Day Ahead” Conference on Financial Markets & Institutions San Francisco
2016, Federal Reserve System Conference on Financial Structure and Regulation Charlotte 2015, Federal Reserve
Bank of Philadelphia Regulating Consumer Credit Conference Philadelphia 2015, Midwest Finance Association
Annual Meeting Chicago 2015, Federal Reserve “Day Ahead” Conference on Financial Markets & Institutions
Boston 2015, Federal Reserve System Conference on Financial Structure and Regulation Houston 2014, Helsinki
Finance Summit Conference 2014, Federal Reserve “Day Ahead” Stress Testing Conference 2014, Global Finance
Conference Dubai 2014, International Banking Economics & Finance Association (IBEFA) ASSA San Diego
2013, Financial Intermediation Research Society (FIRS) Minneapolis 2012, Financial Management Association
(FMA) Denver 2011, School of Business University of Kansas 4th Annual Southwind Finance Conference 2011,
Federal Reserve “Day Ahead” Conference on Financial Markets & Institutions Denver 2011, MEEA ASSA
Atlanta 2010, MMF Research Group Annual Conference London 2008, Emerging Market Group (EMG)
Conference London 2008, AEA ASSA New Orleans 2008
REFEREE SERVICE
American Economic Review, Journal of Finance, Journal of Business, Review of Financial Studies, American
Economic Journal: Macroeconomics, Journal of Money Credit and Banking, Journal of Banking and Finance,
Review of Finance, Journal of Financial Intermediation, Journal of Financial Stability, International Journal of
Central Banking, Journal of Financial Services Research, Journal of Urban Economics, Journal of Applied
Economics, Journal of International Money and Finance, International Finance, Fiscal Studies, Applied
Economics, Applied Economics Letters, B.E. Journal of Economic Analysis and Policy, Eurasian Economic
Review, Federal Reserve Bank of Kansas City Economic Review, AUB Research Board Grants
OTHER PROFESSIONAL SERVICE
Program Committee, International Banking Economics & Finance Association ASSA Meeting, January 2016
Program Committee, International Banking Economics & Finance Association Summer Meeting, July 2014
Program Committee, Federal Reserve System Conference on Financial Structure and Regulation, November 2009
Educational Counselor, MIT, 2006-2007
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