Professor of Economic Analysis and Policy and Finance Expertise and Research Interests: Small Business Lending Bank Mergers and Acquisitions Banking Business Conditions Consumer Spending Unemployment And Inflation Federal Reserve Monetary Policy And Interest Rates Credit Union Failures And Losses Positions Held: 1978 鈥 present, Professor, Haas School of Business 2016 鈥 present, Member, Financial Economists Roundtable 2014 鈥 2016, Member, Board of Directors, VirtualBeam, Inc. 2012 鈥 present, Member, Board of Directors, Finance Scholars Group 2012 鈥 2015, Chair, Economic Analysis and Policy Group, Haas School of Business 2003 鈥 present, Fellow, Wharton Financial Institutions Center 1999 鈥 2001, Chief Economist, Office of the Comptroller of the Currency, Washington, DC 1991 鈥 1992, Economist, Federal Reserve Board 1990 鈥 1991, Senior Economist, President鈥檚 Council of Economic Advisers
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Many businesses 鈥 from the tiniest mom and pop stores to the largest chains 鈥斺渃an survive getting knocked down once or maybe twice,鈥 he said, 鈥渂ut there鈥檚 a limit to how many months they can survive without operating at some reasonable level.鈥
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"Entertainment and tourism, along with the restaurants and hotels they feed into, will feel the pain of a sputtering economy for the foreseeable future. You鈥檙e just going to have this unusually high unemployment for really quite some time. All this depends ... frankly on how much people dare to travel or go to movies or go to bookstores.鈥
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