Financial Economists
Jeffrey R. Gerlach
Jeff Gerlach leads the Quantitative Supervision and Research unit in Supervision, Regulation and Credit. He joined the Federal Reserve Bank of Richmond in 2011. QSR participates in supervisory activities through both the review of banks' quantitative models and the development of internal models. Gerlach’s research focuses on empirical finance, including portfolio selection and the effect of information on financial markets.
Prior to joining the Richmond Fed, Gerlach was a professor at SKK Graduate School of Business in Seoul, South Korea, and the College of William & Mary. In 2007, he was an International Faculty Fellow at Massachusetts Institute of Technology, and, in 2004 and 2005, he taught economics at the Center for Economic Research and Graduate Education in Prague.
Gerlach earned his bachelor’s degree from the University of Notre Dame, his master’s degree from the University of South Carolina and his doctoral degree from Indiana University.
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Publications
“Bank Funding Costs in a Rising Interest Rate Environment” (with Nada Mora and Pinar Uysal), Journal of Banking and Finance, 87 (2018), 164–186.
“Political Conflict and Foreign Portfolio Investment: Evidence from North Korean Attacks,” with Youngsuk Yook. Pacific-Basin Finance Journal 39, 2016.
“Stress Testing Interest Rate Risk Exposure,” with Azamat Abdymomunov. Journal of Banking and Finance 49, 2014.
“Portfolio Selection: An Extreme Value Theory Approach,” with Francis DiTraglia. Journal of Banking and Finance 37, 2013.
“Measuring Altruism in a Public Goods Experiment: A Comparison of U.S. and Czech Subjects” (with Lisa R. Anderson and Francis J. DiTraglia). Journal of Experimental Economics 14 (3), 2011.
“International Sports and Investor Sentiment: Do National Team Matches Really Affect Stock Market Returns?” Applied Financial Economics 21 (12), 2011.
“Daylight and Investor Sentiment: A Second Look at Two Stock Market Anomalies.” Journal of Financial Research 33 (4), Winter 2010.
“Who Chooses Annuities? An Experimental Investigation of the Role of Gender, Framing, and Defaults” (with Julie Agnew, Lisa Anderson, and Lisa Szykman). American Economic Review Papers and Proceedings 98 (2), May 2008.
“Macroeconomic News and Stock Market Calendar and Weather Anomalies.” Journal of Financial Research 30 (2), Summer 2007.
“Yes, Wall Street, There Is a January Effect! Evidence from Laboratory Auctions” (with Lisa R. Anderson and Francis J. DiTraglia). Journal of Behavioral Finance 8 (1), April 2007.
“State-Dependent Stock Market Reactions to Monetary Policy” (with Troy Davig). International Journal of Central Banking, December 2006.
“Imperfect Information and Stock Market Volatility.” Financial Review 40 (2), May 2005.
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Working Papers
“Is the Opening Price Efficient? Evidence from After-Hours Earnings Announcements” (with Jae Ha Lee).
“Monetary Policy, the Bond Market, and Changes in FOMC Communications Policy” (with Troy Davig).