David Marshall
David Marshall

FINANCE
Adjunct Professor of Finance

Print Overview

David Marshall is associate director of research, director of the financial markets group and a senior vice president in the economic research department of the Federal Reserve Bank of Chicago. Prior to this appointment in July 2010, he was senior vice president of the financial markets group and, previously, a vice president and economic advisor in the economic research department of the Federal Reserve Bank of Chicago. In that position, Marshall served as the team leader for the department's macroeconomics group. His research focuses on linkages between financial markets, financial institutions and macroeconomic performance.

Marshall's research has been published in Econometrica, the Journal of Finance, the Journal of Financial Economics, European Finance Review, the Journal of Monetary Economics and the Journal of Money, Credit and Banking.

Before coming to the Federal Reserve System, Marshall was on the faculty of the Kellogg Graduate School of Management at Northwestern University. He has also served as adjunct professor of finance at the University of Chicago and is currently an associate editor for Macroeconomic Dynamics.

Marshall received a B.A. from Yale University and M.S. and Ph.D. degrees in economics from Carnegie-Mellon University.



Print Vita
Education
B.A., 1972, Philosophy, Yale University, Magna cum Laude
Graduate Study, 1983, Economics, Rice University
M.S., 1985, Economics, Carnegie Mellon University
Ph.D, 1988, Economics, Carnegie Mellon University

Academic Positions
Instructor, Economics, Carnegie-Mellon University, 1987-present
Assistant Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 1988-1994
Visiting Assistant Professor of Finance, Finance, Graduate School of Business, University of Chicago, 1993-1994
Adjunct Assistant Professor of Finance, Finance, Graduate School of Business, University of Chicago, 1994-1995
Adjunct Associate Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 1996-present
Adjunct Professor of Finance, Finance, Graduate School of Business, University of Chicago, 1997-2006

Other Professional Experience
Senior Economist, Federal Reserve Bank of Chicago, 1994-1996
Economic Adviser and Senior Financial Economist, Federal Reserve Bank of Chicago, 1996-2004
Vice President and Economic Advisor, Federal Reserve Bank of Chicago, 2004-2006
Senior Vice President, Federal Reserve Bank of Chicago, 2006-2009
Associate Director of Research, Federal Reserve Bank of Chicago, 2009-present

Print Research

 
Print Teaching
Full-Time / Evening & Weekend MBA
Money Markets and the Fed (FINC-451-0)
This course covers financial institutions and financial instruments. In the first half of the course, the linkages between the financial system and the macroeconomy are studied including interest rate determination, the role of the Federal Reserve and the conduct of monetary policy. Particular attention is paid to the banking system, with an eye toward understanding the function and importance of banks. The second half of the course provides an overview of the instruments of the money market: federal funds, commercial paper, treasury bills, etc. Basic valuation and hedging techniques in short-term futures and swaps are also covered.