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About the Author(s)

Simon Gilchrist

Simon Gilchrist is a research associate in the NBER's Monetary Economics and Economic Fluctuations and Growth Programs. He is a professor of economics at New York University and the editor of American Economic Journal: Macroeconomics.

Prior to arriving at NYU, he was a staff economist with the Board of Governors of the Federal Reserve System and a professor of economics at Boston University.

Gilchrist's research interests are in monetary economics and applied macroeconomics. Much of his research focuses on financial market frictions and their consequences for real economic activity, with particular emphasis on the implications for investment behavior, business cycle dynamics, and the conduct of monetary policy.
Gilchrist grew up in England, France, and the American Midwest. He received a bachelor's degree in economics from Iowa State University and a PhD from the University of Wisconsin. He lives in New York with his wife and sons.


1. S. Gilchrist, V. Yankov, and E. Zakrajšek, "Credit Market Shocks and Economic Fluctuations: Evidence from Corporate Bond and Stock Markets," NBER Working Paper 14863, April 2009, and Journal of Monetary Economics, 56(4), 2009, pp. 471–93.   Go to ⤴︎
2. J. Faust, J. Wright, S. Gilchrist, and E. Zakrajšek, "Credit Spreads as Predictors of Real-Time Economic Activity: A Bayesian Model-Averaging Approach," NBER Working Paper 16725, January 2011, and The Review of Economics and Statistics, 95(5), 2013, pp. 1501–19.   Go to ⤴︎
3. S. Gilchrist and E. Zakrajšek, "Credit Spreads and Business Cycle Fluctuations," NBER Working Paper 17021, May 2011, and the American Economic Review, 102(4), 2012, pp. 1692–1720.   Go to ⤴︎
4. G. Favara, S. Gilchrist, K. Lewis, and E. Zakrajšek, "Recession Risk and the Excess Bond Premium," FEDS Notes, Washington: Board of Governors of the Federal Reserve System, 2016,   Go to ⤴︎
5. S. Gilchrist and B. Mojon, "Credit Risk in the Euro Area," NBER Working Paper 20041, April 2014, and The Economic Journal, 128(608), 2017, pp. 118–58.   Go to ⤴︎
6. M. Gertler and S. Gilchrist, "What Happened? Financial Factors in the Great Recession," NBER Working Paper  24746, June 2018, and Journal of Economic Perspectives, 32(3), 2018, pp. 3–30. Go to ⤴︎

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