As part of its goal of supporting and adding to the research literature on issues related to consumer payments and consumer credit, the Payment Cards Center created a visiting scholar program in 2001. This program is a collaborative effort with the Bank's Research Department and aims to establish supportive relationships with academic researchers whose interests advance the center's mission. Since 2001, six researchers have participated in the program, working with Research Department economists and center staff, participating in center activities, and assisting the center in setting its research agenda.
This year, Professor David Humphrey, Florida State University, Professor Nicholas Souleles, University of Pennsylvania, and Professor Jonathan Zinman, Dartmouth College, will continue their relationships as visiting scholars at the center.
The center is pleased to announce the appointment of two additional scholars: professors Michael E. Staten and John P. Caskey.
Staten holds the Take Charge America endowed chair in the Norton School of Family and Consumer Sciences at the University of Arizona. He is also director of the Take Charge America Institute for Consumer Financial Education and Research.
He is widely known for his 30 years of policy-oriented research on consumer credit and mortgage markets. His work includes studies of the causes and consequences of consumer bankruptcy, the role credit bureaus play in increasing access to credit, the effects of credit counseling on borrower behavior, the effect of financial education on young consumers, and the benefits and costs of disclosure requirements for consumer credit.
Staten served as director of the Credit Research Center at Purdue University (1988-97), and later as distinguished professor and executive director of the relocated Credit Research Center at Georgetown University (1997-2006), and George Washington University (2006-07). He has taught undergraduate and graduate students at Purdue University and the University of Delaware.
He serves as a trustee for the American Financial Services Association Education Foundation and is a member of the Advisory Council for the National Foundation for Credit Counseling.
Staten received his Ph.D. from Purdue University in 1980.
John Caskey is a professor of economics at Swarthmore College. He is widely known for his research on the provision of financial services among the poor and the design and performance of community development financial institutions. His work includes studies of the unbanked population, check-cashing outlets, pawnshops, and payday lenders. He has also written articles on the evolution of the Philadelphia Stock Exchange and the role of network externalities in explaining the gradual adoption of debit cards and the unwillingness of consumers to use the dollar coin.
Caskey taught at Washington University in St. Louis from 1983 to 1988 and was an economist at the International Monetary Fund in 1986. He has been a visiting scholar at the Federal Reserve Banks of Philadelphia and Kansas City, Yale University, and the Universidade Nova de Lisboa. He has served as consultant to the Filene Research Institute, the Ford Foundation, the Pew Charitable Trusts, and the World Bank.
Caskey received a Ph.D. in economics from Stanford in 1984 and a B.A. in philosophy from Harvard University in 1978.