Background

Allen N. Berger is H. Montague Osteen, Jr., Professor in Banking and Finance, Carolina Distinguished Professor, Co-Founder/Co-Director of the Center for Financial Institutions (CFI) at the Darla Moore School of Business, and member of the Fixed Income-Financial Institutions Organizing Committee. Professor Berger is also a Board Member of the Financial Intermediation Research Society (FIRS), and its 2022 President and Conference Program Chair, presiding over its conference in Budapest, Hungary. He is affiliated with the Wharton Financial Institutions Center, European Banking Center, and other research centers around the world. He serves on editorial boards of eight research journals, and previously co-edited the Journal of Money, Credit and Banking, eight special issues of four different journals, co-organized research conferences at universities and central banks, and advised Ph.D. students in multiple departments at South Carolina and in other universities in other countries.

He has given keynote addresses on five continents, been visiting scholar at Federal Reserve Banks, and central banks of other nations, and won best paper awards from research journals and conferences, and been awarded for both research and teaching at the University of South Carolina.

He has 133 publications in refereed research journals, including at least one each in 37 of the 38 years from 1987 to 2024, 12 lead articles (4 competitive, 8 noncompetitive special issues), with articles in top finance journals, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, Journal of Financial and Quantitative Analysis, Review of Finance, Journal of Financial Intermediation, Journal of Banking and Finance, Journal of Corporate Finance; top economics journals, Journal of Political Economy, American Economic Review, Review of Economics and Statistics, Journal of Monetary Economics, Journal of Money, Credit and Banking; and other top professional business journals, Management Science, Journal of Business, European Journal of Operational Research.

Professor Berger is co-author of three full-length research books, The Economic and Financial Impacts of the COVID-19 Crisis Around the World: Expect the Unexpected (2023), TARP and other Bank Bailouts and Bail-Ins around the World: Connecting Wall Street, Main Street, and the Financial System (2020), and Bank Liquidity Creation and Financial Crises (2016). He is also co-editor of all four editions of the Oxford Handbook of Banking, 2010, 2015, 2019, and 2024, and has about 40 other research publications, such as book chapters and conference proceedings.

Professor Berger’s research impact registers 100,039 Google Scholar citations, including 34 articles with over 1,000 citations each, and an additional 18 exceeding 500 each, and an H-Index of 107 https://scholar.google.com/citations?user=uEKU998AAAAJ&hl=en).

His most personally prized accomplishments are his parts in the successes of his students, interns, research assistants, and co-authors, whose joint accomplishments greatly exceed his own. Some have earned their own endowed chairs, full professorships, a major journal editorship, Federal Reserve Bank President, chair of a major Finance department, head of a research department, and other major personal successes. He hopes that many more are on their way to such levels.

He was Senior Economist/Economist, Federal Reserve Board, 1982-2008; has a Ph.D. in Economics, University of California, Berkeley, 1983; B.A. in Economics, Northwestern University, 1976.

Liquidity creation data (DopBox)
This dataset includes the dollar amounts of liquidity created by virtually every bank in the U.S. from 1984: Q1-2016: Q4 (quarterly data) calculated using seven liquidity creation measures:

1. The preferred liquidity creation measure (“cat fat”)
2. On-balance sheet liquidity creation (“cat nonfat”)
3. Asset-side liquidity creation
4. Liability-side liquidity creation
5. Off-balance sheet liquidity creation ("fat")
6. Takedown probability-adjusted “cat fat” liquidity creation
7. Securitization-adjusted “cat fat” liquidity creation.

The dataset also includes these amounts normalized by total assets, each bank’s identifier (RSSD9001), name, a few common measures of bank size (gross total assets, total assets, deposits, and gross loans), and location (city and state). Amounts are expressed in real 2016 dollars using the implicit GDP price deflator. (Gross total assets and total assets are also included in nominal terms for ease of use.)

The methodology to construct liquidity creation data is explained in:
Berger, Allen N. and Christa H.S. Bouwman, 2009. “Bank Liquidity Creation,” Review of Financial Studies 22, 3779-3837.

• Please cite this paper (available on the research tab at the top of this webpage) when using these data.

SOD data (DropBox)
The data file contains the Summary of Deposits data that precedes the data found on the website of FDIC. The data include bank and branch-level variables (e.g., identifiers, names, addresses, counties, MSAs, and deposits) and bank-level variables (e.g., number of offices, charter, high holder, and insurer).

Additional information can be found at the links below:

• Data on bank liquidity creation based on the concept originated in:
  Berger, Allen N. and Christa H.S. Bouwman, 2009. “Bank Liquidity Creation,” Review of Financial Studies 22, 3779-3837.
• Data on bank liquidity hoarding based on the concept originated in:
  Berger, Allen N., Omrane Guedhami, Hugh H. Kim, and Xinming Li, Forthcoming, “Economic Policy Uncertainty and Bank Liquidity Hoarding,” Journal of Financial Intermediation.

Research 

His research covers a variety of topics related to financial institutions.

Education

• Ph.D., University of California, Berkeley, 1983
• M.A., University of California, Berkeley, 1979
• B.A., Northwestern University, 1976