Glenn Hubbard

Biography

Professor Hubbard is a specialist in public finance, managerial information and incentive problems in corporate finance, and financial markets and institutions. He has written more than 90 articles and books on corporate finance, investment decisions, banking, energy economics and public policy, including two textbooks, and has co-authored Healthy, Wealthy, & Wise: Five Steps to a Better Health Care System. In a recent book, Tax Policy and Multinational Corporations, he argues that U.S. tax policy significantly affects financing and investment decisions of multinational corporations. Hubbard has applied his research interests in business (as a consultant on taxation and corporate finance to many corporations), in government (as deputy assistant of the U.S. Treasury Department and as a consultant to the Federal Reserve Board, Federal Reserve Bank of New York and many government agencies) and in academia (in faculty collaboration or visiting appointments at Columbia, University of Chicago and Harvard).

Columbia Caseworks cases

The St. Louis Renaissance Grand Hotel: Does a Shift in Context Create an Opportunity? (2010)
Coauthor(s): Michael Keehner, Glenn Hubbard

Theracor Pharmaceuticals, Inc. (2008)
Coauthor(s): Michael Keehner, R. Glenn Hubbard

Research

Journal articles

The Mortgage Market Meltdown and House Prices In The B.E. Journal of Economic Analysis & Policy (2009)
Coauthor(s): R. Glenn Hubbard, Christopher Mayer

''Success Taxes,'' Entrepreneurial Entry, and Innovation In Innovation, Policy, and the Economy (2005)
Coauthor(s): R. Glenn Hubbard

Precautionary savings and the governance of nonprofit organizations In Journal of Public Economics (2005)
Coauthor(s): R. Glenn Hubbard

The Effects of Progressive Taxation on Job Turnover In Journal of Public Economics (2005)
Coauthor(s): R. Glenn Hubbard

The Effect of the Tax Reform Act of 1986 on the Location of Assets in Financial Services Firms In Journal of Public Economics (2003)
Coauthor(s): Rosanne Altshuler, R. Glenn Hubbard

Taxing Multinationals In International Tax and Public Finance (2003)
Coauthor(s): M. Devereux, R. Glenn Hubbard

Are There Bank Effects in Borrowers'' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks In Journal of Business (2002)
Coauthor(s): R. Glenn Hubbard, Kenneth Kuttner, Darius Palia

Are Dividend Taxes and Imputation Credits Capitalized in Share Values? In Journal of Public Economics (2001)
Coauthor(s): R. Glenn Hubbard, Trevor Harris

The Share Price Effects of Dividend Taxes and Tax Imputation Credits In Journal of Public Economics (2001)
Coauthor(s): Trevor Harris, R. Glenn Hubbard

More Information

Tax Policy and Entrepreneurial Entry In American Economic Review (2000)
Coauthor(s): R. Glenn Hubbard

A Reexamination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View In Journal of Finance (1999)
Coauthor(s): R. Glenn Hubbard, Darius Palia

Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance In Journal of Financial Economics (1999)
Coauthor(s): R. Glenn Hubbard, Darius Palia

Investment Incentives Blunted by Changes in Prices of Capital Goods?: International Evidence In International Finance (1998)
Coauthor(s): Kevin Hassett, R. Glenn Hubbard

Capital-Market Imperfections and Investment In Journal of Economic Literature (1998)
Coauthor(s): R. Glenn Hubbard

Fundamental Tax Reform and Corporate Financial Policy In Tax Policy and the Economy (1998)
Coauthor(s): R. Glenn Hubbard

How Different Are Income and Consumption Taxes? In American Economic Review (1997)
Coauthor(s): R. Glenn Hubbard

Distributional Implications of Introducing a Broad-Based Consumption Tax In Tax Policy and the Economy (1997)
Coauthor(s): R. Glenn Hubbard

Tax Reforms and Investment: A Cross-Country Comparison In Journal of Public Economics (1996)
Coauthor(s): Jason Cummins, Kevin Hassett, R. Glenn Hubbard

More Information Download paper (PDF)

The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition Among Small and Large Banks In Journal of Law and Economics (1996)
Coauthor(s): Nicholas Economides, R. Glenn Hubbard, Darius Palia

Assessing the Effectiveness of Saving Incentives In Journal of Economic Perspectives (1996)
Coauthor(s): R. Glenn Hubbard, Jonathan Skinner

Tax Policy, Internal Finance, and Investment: Evidence from the Undistributed Profits Tax of 1936-1937 In Journal of Business (1995)
Coauthor(s): Charles Calomiris, R. Glenn Hubbard

Executive Pay and Performance: Evidence from the U.S. Banking Industry In Journal of Financial Economics (1995)
Coauthor(s): R. Glenn Hubbard, Darius Palia

Internal Finance and Firm-Level Investment In Journal of Money, Credit, and Banking (1995)
Coauthor(s): R. Glenn Hubbard, Anil Kashyap, Toni Whited

Precautionary Saving and Social Insurance In Journal of Political Economy (1995)
Coauthor(s): R. Glenn Hubbard, Jonathan Skinner, Stephen Zeldes

Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms In RAND Journal of Economics (1995)
Coauthor(s): R. Glenn Hubbard, Darius Palia

The Importance of Precautionary Motives for Explaining Individual and Aggregate Saving In Carnegie-Rochester Conference Series on Public Policy (1994)
Coauthor(s): R. Glenn Hubbard, Jonathan Skinner, Stephen Zeldes

Expanding the Life-Cycle Model: Precautionary Saving and Public Policy In American Economic Review (1994)
Coauthor(s): R. Glenn Hubbard, Jonathan Skinner, Stephen Zeldes

A Reconsideration of Investment Behavior Using Tax Reforms as Natural Experiments In Brookings Papers on Economic Activity (1994)
Coauthor(s): Jason Cummins, Kevin Hassett, R. Glenn Hubbard, Robert Hall, Ricardo Caballero

Books

The Aid Trap: Hard Truths About Ending Poverty (2009)
Coauthor(s): R. Glenn Hubbard, William Duggan

Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System (2005)
Coauthor(s): John Cogan, R. Glenn Hubbard, Daniel Kessler

Chapters

The Role of Nonprofit Endowments In The Governance of Not-for-Profit Organizations (2003)
Coauthor(s): R. Glenn Hubbard

Inflation and the User Cost of Capital: Does Inflation Still Matter? In The Costs and Benefits of Price Stability (1999)
Coauthor(s): Darrel Cohen, Kevin Hassett, R. Glenn Hubbard

Tax Policy and Investment In Fiscal Policy: Lessons from Economic Research (1997)
Coauthor(s): Kevin Hassett, R. Glenn Hubbard

International Adjustment Under the Classical Gold Standard: Evidence for the U.S. and Britain, 1879-1914 In Modern Perspectives on the Gold Standard (1996)
Coauthor(s): Charles Calomiris, R. Glenn Hubbard

Do Tax Reforms Affect Investment? In Tax Policy and the Economy (1995)
Coauthor(s): Jason Cummins, Kevin Hassett, R. Glenn Hubbard

The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data In Effects of Taxation on Multinational Corporations (1995)
Coauthor(s): Jason Cummins, R. Glenn Hubbard

Working papers

Options Pricing and Accounting Practice In American Enterprise Institute for Public Policy Research (2004)
Coauthor(s): Charles Calomiris, R. Glenn Hubbard

Ideas and Insights

Forget Business Ethics, Try Business Empathy (2016)

Your Right to Vote is Also a Responsibility (2016)

Closing the Door on Europe (2016)

Regardless of Outcome, Brexit Vote Highlights Global Anxiety over Free Trade and Economic Integration (2016)

In The Media

Tariffs Aren’t a Cure-All for US Jobs, Economist Says

Fox Business News

A Conservative Economics of Dignity

The Wall Street Journal

Trump Picks Monetary Expert for No. 2 Job at Federal Reserve

The New York Times

Fed''s Evans Says He Is Optimistic on Inflation, Wants Rate Hikes

Fox Business

Is This What a Trade War Looks Like?

National Public Radio

Press Releases

Trusting a Book by Its Cover

Columbia Business School Partners With Industry To Create New Immersion Experience For Students

Columbia Business School Ushers In Centennial Milestone With The Launch Of A Multi-Year Celebration

Columbia Business School Partners with the White House to Expand Opportunities for Female Leaders

Columbia Business School Appoints Henry Swieca to Board of Overseers

Magazine articles

Roots of Prosperity In Strategy+Business (2010)
Coauthor(s): William Duggan, R. Glenn Hubbard

The Forgotten Lessons of the Marshall Plan In strategy+business (2008)
Coauthor(s): R. Glenn Hubbard, William Duggan

Newspaper articles

Why Africa Needs a Marshall Plan In Financial Times (2007)
Coauthor(s): R. Glenn Hubbard, William Duggan

Awards And Honors

Exceptional Service Award, The White House, 2002

Michelle Akers Award for Distinguished Service, University of Central Florida, 2001

Alumni Hall of Fame, University of Central Florida, 2000

Best Paper Award for Corporate Finance, Western Finance Association, 1998

Exceptional Service Award, U.S. Department of the Treasury, 1992

Distinguished Alumnus Award, University of Central Florida, 1991

John M. Olin Fellowship, National Bureau of Economic Research, 1987-1988

Northwestern University Associated Student Government Teaching Awards, announced in 1985, 1986, and 1987

Undergraduate Distinctions: National Merit Scholarship, National Society of Professional Engineers Award, Florida Society of Professional Engineers Award, National Council of Teachers of English Award, Omicron Delta Kappa, Financial Management Association

Graduate Distinctions: National Science Foundation Fellowship, Alfred P. Sloan Foundation Fellowship

Teaching Commendations, Graduate School of Business, Columbia University