Joseph P. Hughes is Professor of Economics. He is also a Fellow of the Wharton Financial Institutions Center and has been a Visiting Scholar at the Office of the Comptroller of the Currency, the Federal Reserve Bank of Cleveland, the Federal Reserve Bank of Philadelphia, and the Federal Reserve Bank of New York. His research has been published in such journals as the American Economic Review, the Journal of Banking and Finance, the Journal of Economic Theory, the Journal of Financial Services Research, the Journal of Money, Credit, and Banking, and the Review of Economics and Statistics. He received his Ph.D. from the University of North Carolina at Chapel Hill.
Selected Publications
- "The Performance of Financial Institutions: Modeling, Evidence, and Some Policy Implications," with Loretta J. Mester, in The Oxford Handbook of Banking, third edition edited by Allen N. Berger, Philip Molyneux, and John Wilson, Oxford University Press, forthcoming.
- “Comments on the Evolving Complexity of Capital Regulation,” Journal of Financial Services Research, 2018, 53, 207-210.
- “Measuring Agency Costs and the Value of Investment Opportunities of U. S. Bank Holding Companies with Stochastic Frontier Estimation,” with Loretta J. Mester (Federal Reserve Bank of Cleveland) and Choon-Geol Moon (Hanyang University), Chapter 11, pp. 205-229, in Research Handbook on Competition in Banking and Finance, eds. Jacob A. Bikker and Laura Spierdijk, Edward Elgar Publishing, 2017.
- “The Future of Large, Internationally Active Banks: Does Scale Define the Winners?” with Loretta J. Mester (Federal Reserve Bank of Cleveland), Chapter 6, pp. 77-96, in The Future of Large, Internationally Active Banks, Douglas Evanoff, Editor, World Scientific Publishing Co., 2016.
- "Measuring the Performance of Banks: Theory, Practice, Evidence, and Some Policy Implications," with Loretta J. Mester, in The Oxford Handbook of Banking, second edition, edited by Allen N. Berger, Philip Molyneux, and John Wilson, Oxford University Press, 2015, 247-270.
- "The Elusive Scale Economies of the Largest Banks and Their Implications for Global Competitiveness," in Douglas Evanoff, Cornelia Holthausen, George Kaufman and Manfred Kremer, editors, The Role of Central Banks in Financial Stability: How Has It Changed? World Scientific Publishing Co. Pte. Ltd, New Jersey, 2013.
- "Who Said Large Banks Don't Experience Scale Economies? Evidence from a Risk-Return-Driven Cost Function," with Loretta J. Mester, Journal of Financial Intermediation, 2013, 22:4, 559-585.
- “A Primer on Market Discipline and Governance of Financial Institutions for Those in a State of Shocked Disbelief,” with Loretta J. Mester, for Efficiency and Productivity Growth in the Financial Services Industry, edited by Fotios Pasiouras, pp. 19-47, John Wiley and Sons, 2013.
- "A New Cost Efficiency Measure for Not-for-Profit Firms: Evidence of a Link between Inefficiency and Large Endowments," in memory of John Virgo, Editor, Atlantic Economic Journal, 2013, 41:3, 279-300.
