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Philip H. Dybvig Director
2017-06-26 13:23

Philip H. Dybvig, Washington University in Saint Louis

Director of Institute of Financial Studies, SWUFE

Educational Background
Ph.D. in 1979, Yale University
M.A. M. Phil. in1978, Yale University
B.A. in 1976, Indiana University

Research Interests
Banking, corporate finance, financial markets, asset pricing, fixed-income securities, industrial organization, portfolio management

Philip H. Dybvig, currently Boatmen's Bancshares Professor of Banking and Finance at the Olin School of Business at Washington University in Saint Louis, is well known for his paper, Diamond-Dybvig [1983], one of the most widely cited papers in Finance and Economics. The Diamond-Dybvig model shows how banks serve the economy by creating liquidity, and how this liquidity creation subjects the banks to runs if there is not any deposit insurance or other protection. Dybvig previously taught at Princeton University and was tenured at Yale University. He has published two textbooks and more than 35 articles in leading journals. He has consulted for government, organizations, and individuals.

Awards and Honors

Chang Jiang Scholar, China, 2009

Thousand Talents Plan, China, 2011

Sichuan Jin Ding Award, China, 2014

Jin Sha You Yi Award, China, 2010

Common Fund Prize, 1996
Graham and Dodd Scroll for Excellence in Financial Writing, 1996
Sloan Research Fellowship, 1986-1988
Batterymarch Research Fellowship, 1982-1983

1. "Consensus on Diverse Corporate Boards," Review of Financial Studies, with N. Baranchuk, forthcoming 
2. "The Fallacy of Large Numbers, and a Defense of Diversified Active Managers," Journal of Applied Finance, Issue Vol. 15(2), 2005 
3. "Employee Reload Options: Pricing, Hedging, and Optimal Exercise," Review of Financial Studies, Issue Vol. 16(1), 145-171, with M. Loewenstein, 2003 
4. "Pricing Long Bonds: Pitfalls and Opportunities," Financial Analysts Journal, with B. Marshall, 1996 
5. "Duesenberry's Ratcheting of Consumption: Optimal Dynamic Consumption and Investment Given Intolerance for any Decline in Standard of Living," Review of Economic Studies, 1995 
6. "Inefficient Dynamic Portfolio Strategies, or How to Throw Away a Million Dollars in the Stock Market,"Review of Financial Studies, 1988 
7. "Bank Runs, Deposit Insurance, and Liquidity," Journal of Political Economy, with D. Diamond, 1983

Contact Information

Philip H. Dybvig's home page
Philip H. Dybvig's curriculum vitae (pdf *)

Rm.207, Institute of Financial Studies (IFS)
Southwestern University of Finance and Economics (SWUFE)
No. 55, Guanghuacun Street, Chengdu, Sichuan, P.R. China, 610074
Office:+86 28 87099043
Mobile: +1 (314) 935-9444
Email: dybvig@wustl.edu