Joseph Mason

Joseph R. Mason

Professor, Department of Finance
2913 Business Education Complex North
501 South Quad Drive
Baton Rouge, LA 70803
Phone: 225-578-6255
Fax: 225-578-6366

Biographical Summary

Dr. Mason was formerly a Senior Financial Economist at the Office of the Comptroller of the Currency and has been a Visiting Scholar at the Federal Reserve Bank of Philadelphia, the Federal Deposit Insurance Corporation, and the World Bank and has served as a Transatlantic Avdisor to the European Union.
Dr. Mason has made numerous television and radio appearances on CNBC, NBC News, and Bloomberg Television. He has also been cited extensively in a variety of national print media such as the Wall Street Journal, Financial Times, New York Times, Washington Post, Economist, Bloomberg Business Week, and others. Factiva listed over 900 press articles citing Dr. Mason as of September 2018.
Dr. Mason hosted a weekly economic commentary on KYW radio, Philadelphia, 2007-2008. He authored a regular column for Credit Magazine 2009-2011 and published independently an (approximately weekly) Economic Commentary from September 2007 to April 2011 (roughly half of which are online at Nouriel Roubini's EconoMonitor site at http://archive.economonitor.com/blog/author/jmason3/).

Education

  • PhD Economics, University of Illinois, Champaign, IL, 1996
  • MS Economics, University of Illinois, Champaign, IL, 1992
  • BS Economics, Arizona State University, Tempe, AZ, 1990

Interests

  • Teaching Interests: Financial Intermediation, Financial Institutions, Banking
  • Research Interests: Dr. Mason's research focuses on financial intermediation and economic growth, with special emphasis on financial innovation and the role it plays in economic expansions as well as financial crises.

Selected Research Publications

  • Mason, J. R., Higgins, E., and Mordel, A. (2019). Asset Sales, Recourse, and Investor Reactions to Initial Securitizations: Evidence Why Off-balance Sheet Accounting Treatment does not Remove On-balance Sheet Risk. Journal of Risk Finance, 20 (3).
  • Mason, J. R. (2019). Testimony before the U.S. House of Representatives Committee on Natural Resources, Subcommittee on Energy and Mineral Resources, Climate Change: Preparing for the Energy Transition.
  • Mason, J. R., Dalrymple, S., and Balcombe, J. (2018). Financial Supervision and Regulation in the US: Dodd-Frank Reform (Prepared for the European Parliament's Committee on Economic and Monetary Affairs).
  • Mason, J. R. (2015). Overview of Structure of Financial Supervision and Regulation in the US (Prepared for the European Parliament's Committee on Economic and Monetary Affairs).
  • Mason, J. R., Imerman, M. B., and Lee, H. (2014). Self-reporting under SEC Reg AB and transparency in securitization: evidence from loan-level disclosure of risk factors in RMBS deals. Journal of Risk Finance.
  • Mason, J. R., Calomiris, C., Weidenmier, M., and Bobroff, K. (2013). The Effects of Reconstruction Finance Corporation Assistance on Michigan Banks' Survival in the 1930s. Explorations in Economic History, 50(4), 526 547.
  • Mason, J. R., Cangemi, R. R., and Pagano, M. S. (2012). Option-based Structural Model Estimation of Bond Recovery Rates. Journal of Financial Intermediation.
  • Mason, J. R. and Mitchener, K. (2010). 'Blood and Treasure': Exiting the Great Depression and Lessons for Today. Oxford Review of Economic Policy.
  • Mason, J. R. (2009). Robert Litan, Joseph Mason, and Ian Ayres as Amici Curiae Supporting Petitioners, on Writ of Certiorari to the United States Court of Appeals for the Seventh Circuit, in the Supreme Court of the United States, Jerry N. Jones, Mary F. Jones, and Arline Winerman, Petitioners, v. Harris Associates L.P., Respondent.. American Bar Association.
  • Mason, J. R. and Calomiris, C. (2008). Resolving the Puzzle of the Underissuance of National Bank Notes. Explorations in Economic History, 45(4), 327-355.
  • Tan, L., Chiang, T., Mason, J. R., and Nelling, E. (2008). Herding Behavior in Chinese Stock Markets: An Examination of A and B Shares. Pacific-Basin Finance Journal, 16(1-2), 61-77.
  • Marciukaityte, D., Higgins, E. James, Friday, S. H., and Mason, J. R. (2007). Positive performance and private equity placements: Outside monitoring or inside expertise?. Journal of Real Estate Portfolio Management, 13(4), 389-399.
  • Mason, J. R., Kolari, J., and Anari, A. (2005). Bank Asset Liquidation and the Propagation of the Great Depression. Journal of Money Credit and Banking, 37(4), 753-773.
  • Mason, J. R. (2005). A Real Options Approach to Bankruptcy Costs: Evidence from Failed Commercial Banks during the 1990s. Journal of Business, 79(3), 1523-53.
  • Mason, J. R. and Calomiris, C. W (2003). Fundamentals, Panics and Bank Distress during the Depression. American Economic Review, 93(5), 1615-1647.
  • Calomiris, C. and Mason, J. R. (2003). Consequences of U.S. Bank Distress during the Great Depression. American Economic Review, 93(3), 937-947.
  • Calomiris, C. and Mason, J. R. (1997). Contagion and Bank Failures during the Great Depression: The Chicago Banking Panic of June 1932. American Economic Review, 87(5), 863-884.

Books

  • Mason, J. R. (2018). Financial Regulation and Fraud in CO2 Markets In Sabri Boubaker, Douglas Cumming, and Duc Nguyen (Ed.), Research Handbook of Investing in the Triple Bottom Line (pp. 19). London: Edward Elgar.
  • Mason, J. R. and Mitchener, K. (2013). 'Blood and Treasure': Exiting the Great Depression and Lessons for Today In Peter Fearon and Nicholas Crafts (Ed.), The Great Depression of the 1930s
  • Mason, J. R. (2009). Structuring for Leverage: CPDOs, SIVs, and ARSs In Robert Litan, Richard Herring, and Yasuyuki Fuchita (Ed.), Prudent Lending Restored: Securitization after the 2007 Mortgage Securities Meltdown Washington, DC: Brookings Institution Press.
  • Mason, J. R. (2008). Why ABS and CDO Ratings Substantially Differ from Corporate Bond Ratings Bank Structure and Competition Conference Proceedings Chicago: Federal Reserve Bank of Chicago.
  • Calomiris, C. W. and Mason, J. R. (2004). How to Restructure Failed Banking Systems: Lessons from the U.S. in the 1930s and Japan in the 1990s In Takatoshi Ito and Anne Krueger (Ed.), Privatization, Corporate Governance and Transition Economies in East Asia (pp. 375-420). Chicago: University of Chicago Press.
  • Mason, J. R. (2002). A Real Options Approach to Bankruptcy Costs: Evidence from Failed Commercial Banks during the 1990s Bank Structure and Competition Conference Proceedings (pp. 108-128). Chicago: Federal Reserve Bank of Chicago.
  • Mason, J. R. (2002). Credit Card Securitization, Recourse, and Regulatory Arbitrage Bank Structure and Competition Conference Proceedings (pp. 108-128). Chicago: Federal Reserve Bank of Chicago.

Working Papers

  • Mason, J. R., Lee, H., and Larsen, J. (2019). Property Appraisal Manipulation and Mortgage Loan Performance
  • Mason, J. R. and Lee, H. (2018). Examining the Effects of Skin in the Game on Subprime Mortgage Servicing

Professional and Service Activities

  • Scholarship Committee, Committee Member (August 1, 2012 - July 31, 2017)
  • Informational Resources Committee, Committee Member (August 1, 2017)

Media Contributions

  • Internet; Cato Institute/Mercatus Center Webinar Series; Webinar series titled "A Fed for Next Time: Ideas for a Crisis Ready Central Bank. ; 2020
  • Newspaper; Kotok, D. R. and Mason, J. R. "Attacking Central Bank Independence," Barrons; (op-ed); 2011
  • Newspaper; Mason, J. R. Time for a Cease-Fire in the War on Oil, The Wall Street Journal; (op-ed); 2011
  • Magazine; Mason, J. R. Bankruptcy: Flaw in the Law? Credit Magazine; (regular column); 2011
  • Newspaper; Mason, J. R. Obama's Energy Policies are Crippling Economic Recovery, The Washington Examiner. ; (op-ed); 2011
  • Newspaper; Mason, J. R. Why Regulators Should Let Banks Foreclose: Data Show that brief Additional Time-outs Don't Allow Borrowers to become Current, The Wall Street Journal; (op-ed); 2011
  • Magazine; Mason, J. R. No Incentive to Improve, Credit Magazine; (regular column); 2011
  • Magazine; Mason, J. R. Bailout Funds Miss the Point, Credit Magazine; (regular column); 2010
  • Newspaper; Mason, J. R. "The Housing Bust Lobby," The Wall Street Journal; (op-ed); 2010
  • Newspaper; Mason, J. R. The Real Gulf Disaster, The Wall Street Journal; (op-ed); 2010
  • Magazine; Mason, J. R. Saved from the Safe Harbor, Credit Magazine; (regular column); 2010
  • Newspaper; Mason, J. R. Congress's Hugo Chavez Bailout Bill, The Wall Street Journal; (op-ed); 2010
  • Magazine; Mason, J. R. The Value of Good Service, Credit Magazine; (regular column); 2010
  • Magazine; Mason, J. R. TBTF: Not About Size, About Information, Bank Accounting & Finance; 2010
  • Magazine; Mason, J. R. Strangling Securitization, Credit Magazine; (regular column); 2010
  • Magazine; Mason, J. R. Exposing Insecurities, Credit Magazine; (regular column); 2009
  • Newspaper; Mason, J. R. Obama Restructuring Plan Fails Economics, American Banker; (op-ed); 2009
  • Newspaper; Mason, J. R. SCAP as Pattern for Regulatory Change, American Banker; (op-ed); 2009
  • Magazine; Mason, J. R. A Push to Modify, DS News; (op-ed); 2009
  • Magazine; Mason, J. R. Resolving the Conflict between Ratings Agencies and Regulators: An Argument for a Procurement-based Framework, GARP Risk Review; (op-ed); 2008
  • Newspaper; Mason, J. R. and Calomiris, C. W. Reclaim Power from the Ratings Agencies, Financial Times; (op-ed); 2007

Employed by LSU since

July 1, 2008