Kevin Jaques headshot

Chair, Finance, Economics, and Analytics
Ph.D., Michigan State University

Kevin Jacques

Kevin Jaques headshotChair, Finance, Economics, and Analytics

Ph.D., Michigan State University
M.A., Kent State University

Dr. Kevin Jacques is the chair of the department of finance, economics and analytics in the BW Carmel Boyer School of Business, where he also holds the Boynton D. Murch Chair in Finance. Prior to joining the faculty at BW, Jacques spent 14 years as an economist with the U.S. Department of the Treasury in Washington, D.C.

Most recently, he was a senior financial economist advising senior Treasury officials and members of the George W. Bush Administration on policy issues regarding the U.S. banking and financial system. In the mid-1990s, he served on the President’s Working Group on Financial Markets, examining possible macroeconomic causes of systemic risk in U.S. financial markets. In addition to working at the Treasury Department, Jacques taught finance in the McDonough School of Business at Georgetown University.

A nationally recognized expert on matters of government economic and financial policy, his commentaries have received hundreds of media citations. He has made numerous appearances on PBS television, NPR’s Marketplace and Marketplace Morning Edition, and his insights have been quoted in Bloomberg Financial News, S&P Global Market Intelligence, U.S. News & World Report, Politico, Fortune, Associated Press, CBS News and Business Week. In 2016, Crain’s Cleveland Business noted that Jacques "has claimed a seat among renowned national experts on banking, financial and government policy."

Areas of Expertise

Banking, risk management in financial institutions, government financial and economic policy, systemic risk, bank regulatory policy and the macroeconomic impact of bank regulatory capital standards.



  • Risk Management in Financial Institutions (FNC 465)
  • Principles of Investments (FNC 445)
  • Principles of Macroeconomics (ECN 202)
  • Intermediate Corporate Finance (FNC 446)
  • Corporate & Organizational Finance (FNC 342)


  • Managerial Economics (FNC 581)

Select Publications

"Capital Regulations, Supervision, and the International Harmonization of Bank Capital Ratios." Bank and Bank Systems, Vol. 12, No 1, June 2017, pp. 175-183.

"Commercial Bank Small Business Lending Pre and Post Crisis" (with Peter Nigro and Richard Moylan), Journal of Entrepreneurial Finance, Vol. 18, No. 1, Spring 2016, pp. 22-48.

"Procyclicality, Bank Lending, and the Macroeconomic Implications of a Revised Basel Accord," Financial Review, November 2010, Vol. 45, No. 4, pp.915 - 930.

"Capital Shocks, Bank Asset Allocation, and the Revised Basel Accord," Review of Financial Economics, 2008, Vol. 17, No. 2, pp. 79-91.

"The International Transmission of Capital Shocks: Implications of a Revised Basel Accord for Developing Countries," Capital Markets, Globalization, and Economic Development, Innovations in Financial Markets and Institutions, Vol. 15, Benton Gup ed., Springer Publishing Co., 2005, pp. 31 - 43.

"Bank Lending and the Effectiveness of Monetary Policy Under a Revised Basel Accord," (with David Schirm), The New Basel Capital Accord, Benton Gup ed., Thomson Publishing Co., 2004, pp. 217-238.

"The Impact of FDICIA and Prompt Corrective Action on Bank Capital and Risk: Estimates Using a Simultaneous Equations Model," (with Raj Aggarwal), Journal of Banking and Finance, July 2001, 1139-1160.

"The Relationship Between Bank Off-Balance Sheet Activities and Credit Risk Under Risk-Based Capital: A Simultaneous Equations Approach," (with Raj Aggarwal and Tara Rice), Proceedings from a Conference on Bank Structure and Competition, Federal Reserve Bank of Chicago, May 2000, pp.377-394.

"Financial Turmoil, Failed Bank Acquisitions and Bank Business Lending Behavior," (with Peter Nigro), Journal of Financial Services Research, Vol. 17, No. 2, August 2000, pp. 149-164.

"Risk-Based Capital, Portfolio Risk, and Bank Capital: A Simultaneous Equations Approach," (with Peter Nigro). Journal of Economics and Business, Vol. 49, No. 6, November/December 1997, pp. 533-547. Reprinted in The Regulation and Supervision of Banks, M. Blaug, ed. 2001.

In addition, from March 2016 through October 2019, Jacques published 61 articles on Seeking Alpha, a crowd-sourced content service for investments with 20 million users per month.

Media Commentaries

Jacques has provided commentaries and analysis to the media on the financial crisis, regulatory reform and government economic policy on over 325 occasions since 2008 including American Banker, Bloomberg Financial News, Cleveland Plain Dealer, Crain's Cleveland Business,, NPR Marketplace, New York Post, U.S. News and World Report and more.