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Money, Banking, and Financial Markets, 4/e

Stephen G. Cecchetti, Brandeis International University
Kermit L. Schoenholtz, Stern School of Business, New York University

ISBN: 007802174x
Copyright year: 2015

About the Authors

Stephen G. Cecchetti is Professor of International Economics at the Brandeis International Business School. He previously taught at Brandeis from 2003 to 2008. Before rejoining Brandeis in 2014, Cecchetti completed a five-year term as Economic Adviser and Head of the Monetary and Economic Department at the Bank for International Settlements in Basel, Switzerland. He has also taught at the New York University Stern School of Business and, for 15 years, was a member of the Department of Economics at The Ohio State University.

In addition to his other appointments, Cecchetti served as Executive Vice President and Director of Research, Federal Reserve Bank of New York (1997–1999); Editor, Journal of Money, Credit, and Banking (1992–2001); Research Associate, National Bureau of Economic Research (1989–2011); and Research Fellow, Centre for Economic Policy Research (2008–present), among others.

Cecchetti's research interests include inflation and price measurement, monetary policy, macroeconomic theory, economics of the Great Depression, and the economics of financial regulation. He has published more than 75 articles in academic and policy journals and has been a regular contributor to the Financial Times.

During his time at the Bank for International Settlements, Cecchetti participated in the numerous postcrisis global regulatory reform initiatives. This work included involvement with both the Basel Committee on Banking Supervision and the Financial Stability Board in establishing new international standards.

Cecchetti received an SB in Economics from the Massachusetts Institute of Technology in 1977 and a PhD in Economics from the University of California at Berkeley in 1982.

Kermit L. Schoenholtz is Professor of Management Practice in the Department of Economics of New York University's Leonard N. Stern School of Business, where he teaches courses on financial crises, money and banking, and macroeconomics ( He also directs the NYU’s Stern Center on Global Economy and Business ( Schoenholtz was Citigroup's global chief economist from 1997 until 2005. After a year's leave, he served until 2008 as senior advisor and managing director in the Economic and Market Analysis (EMA) department at Citigroup.

Schoenholtz joined Salomon Brothers in 1986, working in their New York, Tokyo, and London offices. In 1997, he became chief economist at Salomon, after which he became chief economist at Salomon Smith Barney and later at Citigroup.

Schoenholtz has published extensively for the professional investment community about financial, economic, and policy developments; more recently, he has contributed to policy-focused scholarly research in economics. He has served as a member of the Executive Committee of the London-based Centre for Economic Policy Research and is a panel member of the U.S. Monetary Policy Forum.

From 1983 to 1985, Schoenholtz was a Visiting Scholar at the Bank of Japan's Institute for Monetary and Economic Studies. He received an MPhil in economics from Yale University in 1982 and an AB from Brown University in 1977.

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