Brian Melzer
Brian Melzer

Assistant Professor of Finance

Print Overview

Brian Melzer is an assistant professor in the Finance Department. His research interests include household finance, real estate, financial institutions and financial regulation. His recent research examines the impact of interest rate regulations in auto lending. He has also studied the default and investment behavior of heavily indebted homeowners, the costs and benefits of retail financial advice and the impact of payday loans on household well-being.

Professor Melzer received his PhD in economics from the University of Chicago Graduate School of Business in 2008. Prior to graduate study, he worked as a research analyst in the investment management business.

Areas of Expertise
Banking and Financial Institutions
Corporate Finance
Personal Finance
Regulation of Financial Markets

Print Vita
PhD, 2008, Economics, University of Chicago
MLitt, 2000, Philosophy, St. Andrews University
AB, 1999, Philosophy, Princeton University, Summa Cum Laude

Academic Positions
Faculty Associate, Institute for Policy Research, Northwestern University, 2014-present
Affiliate, Center for the Study of Industrial Organization, Northwestern University, 2014-present
Assistant Professor of Finance, Kellogg School of Management, Northwestern University, 2008-present

Grants and Awards
2015 Canadian Investment Research Award, CFA Society Toronto & Hillsdale Investment Management

Print Research
Research Interests

Household finance; real estate; financial institutions; financial regulation

Melzer, Brian. 2011. The Real Costs of Credit Access: Evidence from the Payday Lending Market. Quarterly Journal of Economics. 126(1): 517-555.
Melzer, Brian. Forthcoming. Mortgage Debt Overhang: Reduced Investment by Homeowners at Risk of Default. Journal of Finance.
Melzer, Brian and Donald P. Morgan. 2015. Competition in a Consumer Loan Market: Payday Loans and Overdraft Credit. Journal of Financial Intermediation. 24(1): 25-44.
Working Papers
Melzer, Brian, Jonathan A. Parker and Daniel Green. 2015. Accelerator or Brake? Microeconomic estimates of 'Cash for Clunkers' and Aggregate Demand.
Melzer, Brian and Aaron Schroeder. 2015. Loan Contracting in the Presence of Usury Limits: Evidence from the Auto Loan Market.
Melzer, Brian and Camelia M Kuhnen. 2014. Non-cognitive Abilities and Loan Delinquency.
Melzer, Brian, Alessandro Previtero, Stephen Foerster and Juhani Linnainmaa. 2014. Retail Financial Advice: Does One Size Fit All?.
Melzer, Brian. 2012. Spillovers from Costly Credit.
Matsa, David ABrian Melzer and Joanne W. Hsu. 2014. Positive Externalities of Social Insurance: Unemployment Insurance and Consumer Credit.

Print Teaching
Teaching Interests
Corporate finance