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Dr. Thomas Hogan Wins Best Paper

Dr. Thomas Hogan's paper (coauthored with Dr. Will Luther of Kenyon College) has won Best Paper in the Journal of Private Enterprise.  The article by Hogan and Luther highlights two implicit costs of government deposit insurance programs that are often overlooked in economic analysis. First, government-run programs are implicitly backed by taxpayers who bear the ultimate burden for any losses. In the United States, these losses have averaged almost $3 billion per year over the life of the FDIC. Second, the rates on deposit insurance are usually not set high enough to discourage bank risk. Assessment rates in the early 2000s were actually the lowest in US history, which encouraged banks to take excessive risk in the years leading up to the financial crisis.

A link to the paper can be found here.


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Email:  ♦ Phone: 334-808-6582

Mailing Address: 137 Bibb Graves Hall, 600 University Avenue, Troy, AL 36081

Last Updated: 5/2/2017