​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​Financial Economists Roundtable

The Financial Economists Roundtable (FER) is a group of senior financial economists who have made significant contributions to the finance literature and seek to apply their knowledge to current policy debates. FER members meet annually to discuss policy issues concerning investments, corporate finance, financial institutions and markets, both in the U.S. and internationally. The statements they adopt are intended to increase the awareness and understanding of public policy makers, the financial economics profession, the communications media, and the general public.

2021 Statement:​ "SEC Should Mandate ESG Disclosure Limited to Matters that Directly Affect the Firm’s Cash Flows"
2019 Statement: "Evidence-Based Regulation and the Limits of Pilot Studies"

​2018 Statement: "Crypto Assets Require Better Regulation"

2017 Statement: "Bank Capital as a Substitute for Prudential Regulation"
​2016 Statement:
 "Corporate Tax Reform"
2015 Statement:
2014 Statement:
"The Structure of Trading in Bond Markets"
2013 Statement:
"Taxes on Financial Transactions"
2012 Statement:
"Accounting for the Cost of Government Credit Assistance"
2010 Statement:
"How to Manage and Help to Avoid Systemic Liquidity Risk"
2009 Statement:
"Reforming the OTC Derivatives Markets"

2008 Statement:​
"Reforming the Role of the Statistical Ratings Organizations in the Securitization Process"

2007 ​Statement:
"The International Competitiveness of U.S. Capital Markets"

2006 Statement:
"Best Practices for the Design of Defined Contribution Pension Plans"

2005 Statement:
"Hedge Funds"

​2004 Statement:
"Accounting for Corporate Pensions"

2003 Statement:
"The Controversy Over Executive Compensation"

2002 Statement:
"The Crisis in Accounting, Auditing and Corporate Governance"

2001 Statement:
"The Structure of Securities Markets"

2000 Statement:
"The Future of the International Monetary Fund"

1999 Statement:
"Long-Term Capital Management and the Report of the Presidents Working Group on Financial Markets"

1998 Statement:
"Institutional Investors and Corporate Governance"

1997 Statement:
"Social Security"

1996 Statement:
"Risk Disclosure by Mutual Funds"

​1995(2) Statement:
"Accounting Disclosure About Derivative Financial Instruments"

1995 Statement:"The Structure of the NASDAQ Stock Market"

​1994 Statement:
"Derivatives Markets and Financial Risk"

​1993 Statement:
"Registration Requirements for Foreign Securities"

Financial Economists Roundtable
Description and Statement of Purpose

The history of the organization along with all statements issued from 1993-2008 may be found in:

The Financial Economists Roundtable, 1993-2008: The Kaufman Years

Administrative Office
Larry Harris
Executive Director
USC Marshall School of Business
Los Angeles, CA 90089-0804

Tel: (323) 244-1154
E-mail: lharris@usc.edu

Current Members
​Rashad Ahmed Abdel-Khalik, University of Illinois
​Reena Aggarwal,  Georgetown
Edward I. Altman, New York University
Brad Barber, UC Davis
Arnoud Boot, University of Amsterdam
Charles Calomiris, Columbia University
Jennifer Conrad*, University of North Carolina
Elroy Dimson, Cambridge Judge Business School
Franklin R. Edwards, Columbia University
Mark Flannery, University of Florida
Larry Glosten, Columbia
Kathleen Hanley**, Lehigh University
Larry Harris**, University of Southern California
Richard J. Herring, University of Pennsylvania
Takeo Hoshi, University of Tokyo
Ravi Jagannathan, Northwestern University
Kose John, New York University
Charles Kahn*, University of Illinois
Edward J. Kane, Boston College
Andrew Karolyi, Cornell University
Jonathan Karpoff*, University of Washington
Jan-Pieter Krahnen, Goethe University Frankfurt
Albert "Pete" Kyle, University of Maryland
Craig Lewis, Vanderbilt University
Robert Litan, Brookings Institution
Dennis E. Logue, Ledyard National Bank
Debbie Lucas, MIT
Robert McDonald**, Northwestern University
Terry Odean, UC Berkeley
Frank Partnoy, UC Berkeley
Stephen Penman, Columbia University
Rafael Repullo*, CEMFI
Jay Ritter*, University of Florida
Anthony Santomero, University of Pennsylvania
Stephen Schaefer, London Business School
Catherine Schrand, University of Pennsylvania
Lemma W. Senbet, University of Maryland
Jeremy Siegel, University of Pennsylvania
Erik Sirri, Babson College
Chester Spatt, Carnegie Mellon University
Laura Starks, University of Texas
Siew Hong Teoh, UCLA
Ingo Walter, New York University
Roman L. Weil, University of Chicago
Ingrid Werner, Ohio State University
Jim Wilcox, UC Berkeley​

* Steering Committee Member
** Executive Committee Member

Annual Meetings
July 17-19, 2021 Shepherdstown, WV
July ​13-15, 2019 Boulder, CO
​July 14-16, 2018 Toronto, Ontario
​July 15-17, 2017 Minneapolis, MN
July 17-19, 2016 Boston, MA 
July 18-20, 2015 Vancouver, British Columbia
July 19-21, 2014  Quebec City, Quebec
July 20-22, 2013 Napa Valley Marriott, Napa Valley, California Minutes
July 21-23, 2012, Niagara-on-the-Lake, Ontario, Canada Minutes
July 16-18, 2011, Hyatt Regency Monterey Hotel & Spa on Del Monte Golf Course, Monterey, California Minutes
July 17-29, 2010, Grand Hyatt Hotel, Newport, Rhode Island Minutes
July 18-20, 2009, Skamania Lodge, Washington Minutes
July 12-14, 2008, Glen Cove Mansion, Glen Cove, Long Island, NY, Minutes, page 122
July 14-16, 2007, San Diego, California Minutes, page 110
July 9-10, 2006, Bretton Woods, New Hampshire Minutes, page 97
July 10-11, 2005, Sonoma, CA Minutes, page 90
July 11-12, 2004, Niagara-on-the-Lake, Canada Minutes, page 83
July 13-14, 2003, Vancouver, Canada Minutes, page 75
July 14-15, 2002, Montreal, Canada Minutes, page 67
July 15-16, 2001, Park City, Utah Minutes, page 57
July 10-11, 2000, Bretton Woods, New Hampshire Minutes, page 50
July 12-13 1999, San Diego, California Minutes, page 43
July 1998, Boothbay Harbor, Maine Minutes, page 37
July 1997, Yountville, California Minutes, page 31
July 1996, Newport, Rhode Island
July 1995, Santa Barbara, California
July 1994, Napa, California
July 1993, Napa, California

FER at Work

​​2015 Annual Meeting

2013 Annual Meeting
Financial Transactions Taxes
Napa Valley, California

2012 Annual Meeting
Accounting for the Cost of Government Credit Assistance
Niagara-on-the-Lake, Ontario, Canada

2011 Annual Meeting
Hyatt Regency Monterey Hotel & Spa on Del Monte Golf Course
Monterey, California

2010 Annual Meeting
Managing and Minimizing Systemic Liquidity Shocks
Newport, Rhode Island

2009 Annual Meeting
Strengthening the Market for Derivatives
Skamania Lodge, Columbia River Gorge, Washington 

2008 Meeting
Securitization and Credit Ratings under Fire: Causes, Effects and Policy Lessons
Glen Cove Mansion, Glen Cove, Long Island, New York
Discussion Leaders: Ed Kane (chair), Ed Altman, Dick Herring, Charles Goodhart

2007 Annual Meeting
The Global Competitiveness of U.S. Capital Markets
San Diego Hilton Resort on Mission Bay, San Diego, California
Discussion Leaders: Elroy Dimson, Franklin Edwards, Thomas Ho, Kenneth Scott

2006 Annual Meeting
Designing the Optimal Defined Contribution Plan
Mount Washington Hotel, Bretton Woods, N.H.
Discussion Leaders: Marshall Blume, Charles Goodhart, Robert Shiller

Executive Director George Kaufman, Drafting Committee: Marshall Blume, Charles Goodhart, and Robert Shiller

2005 Meeting
Regulating Hedge Fund
The Lodge at Sonoma, Sonoma, CA
Discussion Leaders: Frank Edwards, Ken Scott, Rob Stambaugh, and Jim VanHorne

2004 Annual Meeting
Accounting for Corporate Pensions
Queens Landing Hotel, Niagara-on-the-Lake, Canada
Discussion Leaders: George Benston, Elroy Dimson, Dennis Logue, Katherine Schipper and Jeremy Siegel

2003 Annual Meeting
The Controversy Over Executive Compensation
Hotel Listel in Vancouver, Canada

FER in the Press
Newspapers and News Wires Publications:
The Wall Street Journal, 11/24/03
The Wall Street Journal Europe, 11/24/03
The Asian Wall Street Journal, 11/25/03
The Globe and Mail (Canada), 11/24/03
The Washington Times (UPI article), 11/24/03
St. Louis Post-Dispatch, 11/28/03
Corporate Weekly Digest, 12/5/03
Dow Jones News Wire, 11/24/03
United Press International, 11/24/03

2002 Annual Meeting
The Crisis in Accounting, Auditing and Corporate Governance
Queen Elizabeth Hotel, Montreal Canada

2001 Annual Meeting

The Structure of Exchanges and Markets
Grand Summit Hotel , Park City Utah

2000 Annual Meeting
Undiong the Damage
Mount Washington Hotel, Bretton Woods
FER Members

in Gold Room