Thomas L. Hogan

Associate Senior Research Fellow

Thomas L. Hogan, Ph.D., is an Associate Senior Research Fellow at AIER. He was formerly the chief economist for the U.S. Senate Committee on Banking, Housing and Urban Affairs. He has also worked at Rice University’s Baker Institute for Public Policy, Troy University, West Texas A&M University, the Cato Institute, the World Bank, Merrill Lynch’s commodity trading group and for investment firms in the U.S. and Europe. Dr. Hogan’s research has been published in academic journals such as the Journal of Macroeconomics and the Journal of Money, Credit and Banking. He has appeared on programs such as BBC World News, Stossel TV, and Bloomberg Radio and has been quoted by news outlets including CNN Business, American Banker, and the National Review.

Thomas L. Hogan

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11/10/14

Do higher reserves reduce bank risk?

During the 2008 financial crisis, many banks became illiquid and did not have enough cash reserves to pay their debts. The Fed responded to the liquidity shortage by paying banks […]
Thomas L. Hogan

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10/20/14

Why isn’t monetary policy working?

Since 2008, the Fed’s quantitative easing (QE) programs have added more than $4 trillion to the U.S. economy with little noticeable effects. Why isn’t QE working? One issue is that […]
Thomas L. Hogan

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10/10/14

Did regulation cause the great recession?

John Cochrane recently wrote that Milton Friedman and Ben Bernanke were wrong to claim the Great Depression was caused by a shortage of money. He called the idea “unintentionally hilarious” […]
Thomas L. Hogan

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9/2/14

What is monetary policy?

Thanks to the Atlas Network for inviting me to join the Sound Money Project blog. I want to start by discussing a question that may seem obvious but can actually […]