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  1. Directory
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  3. R. Glenn Hubbard

R. Glenn Hubbard

Dean Emeritus; Russell L. Carson Professor of Finance and Economics
Economics Division
Director
Jerome A. Chazen Institute for Global Business
Chazen Institute Board
Jerome A. Chazen Institute for Global Business
Photo of Professor R. Glenn Hubbard
Areas of Expertise
Corporate Finance, Corporate Governance, Entrepreneurship & Innovation, Financial Institutions, Globalization, Macroeconomics, Microeconomics
Contact
Office: 572 Kravis
Phone: (212) 8542888
E-mail: rgh1@gsb.columbia.edu
Links
Curriculum Vitae

Professor Hubbard is a specialist in public economics, managerial information and incentive problems in corporate finance, and financial markets and institutions. He has written more than 100 articles and books on corporate finance, investment decisions, banking, energy economics and public policy, including two textbooks, and has authored The Wall and the Bridge and coauthored Balance, The Aid Trap, and Healthy, Wealthy, and Wise.  Hubbard has applied his research interests in business (as a corporate director consultant on taxation and corporate finance), in government (as a former Chair of the U.S. Council of Economic Advisers and the OECD Economic Policy Committee, as well as Deputy Assistant Secretary 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).  He is co-chair the Committee on Capital Markets and Regulation and past chair of the Economic Club of New York and the Study Group on Corporate Boards.

Education
BA, BS, University of Central Florida, 1979; AM, Harvard, 1981; PhD, 1983
Joined CBS
1988

All Activities

  • Research
  • Teaching
  • Achievements
  • Press
  • Authored Works
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Hubbard, R. Glenn and Christopher Mayer. “The Mortgage Market Meltdown and House Prices.”
The B.E. Journal of Economic Analysis & Policy
vol. 9, (January 01, 2009): Article 8.
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Journal Article
Hubbard, R. Glenn. “Precautionary savings and the governance of nonprofit organizations.”
Journal of Public Economics
vol. 89, (January 01, 2005): 2231-2243.
Explore Further about Precautionary savings and the governance of nonprofit organizations
Journal Article
Hubbard, R. Glenn. “The Effects of Progressive Taxation on Job Turnover.”
Journal of Public Economics
vol. TK, (January 01, 2005): TK.
Explore Further about The Effects of Progressive Taxation on Job Turnover
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Journal Article
Hubbard, R. Glenn. “'Success Taxes,' Entrepreneurial Entry, and Innovation.”
Innovation, Policy, and the Economy
vol. 5, (January 01, 2005): 87-108.
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Journal Article
Devereux, M. and R. Glenn Hubbard. “Taxing Multinationals.”
International Tax and Public Finance
vol. 10, (January 01, 2003): 469-87.
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Journal Article
Altshuler, Rosanne and R. Glenn Hubbard. “The Effect of the Tax Reform Act of 1986 on the Location of Assets in Financial Services Firms.”
Journal of Public Economics
vol. 87, (January 01, 2003): 109-27.
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Journal Article
Hubbard, R. Glenn, Kenneth Kuttner, and Darius Palia. “Are There Bank Effects in Borrowers' Costs of Funds? Evidence from a Matched Sample of Borrowers and Banks.”
Journal of Business
vol. 75, (October 01, 2002): 559-81.
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Journal Article
Hubbard, R. Glenn and Trevor Harris. “Are Dividend Taxes and Imputation Credits Capitalized in Share Values?”
Journal of Public Economics
vol. 79, (March 01, 2001): 569-96.
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Journal Article
Harris, Trevor and R. Glenn Hubbard. “The Share Price Effects of Dividend Taxes and Tax Imputation Credits.”
Journal of Public Economics
vol. 79, (March 01, 2001): 569-596.
Explore Further about The Share Price Effects of Dividend Taxes and Tax Imputation Credits
Journal Article
Gentry, William and R. Glenn Hubbard. “Tax Policy and Entrepreneurial Entry.”
American Economic Review
vol. 90, (May 01, 2000): 283-87.
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Journal Article
Hubbard, R. Glenn and Darius Palia. “A Reexamination of the Conglomerate Merger Wave in the 1960s: An Internal Capital Markets View.”
Journal of Finance
vol. 54, (June 01, 1999): 1131-52.
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Journal Article
Himmelberg, Charles, R. Glenn Hubbard, and Darius Palia. “Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance.”
Journal of Financial Economics
vol. 53, (January 01, 1999): 353-84.
Explore Further about Understanding the Determinants of Managerial Ownership and the Link Between Ownership and Performance
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Journal Article
Hassett, Kevin and R. Glenn Hubbard. “Investment Incentives Blunted by Changes in Prices of Capital Goods?: International Evidence.”
International Finance
vol. 1, (October 01, 1998): 103-25.
Explore Further about Investment Incentives Blunted by Changes in Prices of Capital Goods?: International Evidence
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Journal Article
Hubbard, R. Glenn. “Capital-Market Imperfections and Investment.”
Journal of Economic Literature
vol. 36, (March 01, 1998): 193-225.
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Journal Article
Gentry, William and R. Glenn Hubbard. “Fundamental Tax Reform and Corporate Financial Policy.”
Tax Policy and the Economy
vol. 12, (January 01, 1998): 191-227.
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Journal Article
Hubbard, R. Glenn. “How Different Are Income and Consumption Taxes?”
American Economic Review
vol. 87, (May 01, 1997): 138-42.
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Journal Article
Gentry, William and R. Glenn Hubbard. “Distributional Implications of Introducing a Broad-Based Consumption Tax.”
Tax Policy and the Economy
vol. 11, (January 01, 1997): 1-47.
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Journal Article
Economides, Nicholas, R. Glenn Hubbard, and Darius Palia. “The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition Among Small and Large Banks.”
Journal of Law and Economics
vol. 39, (October 01, 1996): 667-704.
Explore Further about The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition Among Small and Large Banks
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Journal Article
Cummins, Jason, Kevin Hassett, and R. Glenn Hubbard. “Tax Reforms and Investment: A Cross-Country Comparison.”
Journal of Public Economics
vol. 62, (October 01, 1996): 237-73.
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Journal Article
Hubbard, R. Glenn and Jonathan Skinner. “Assessing the Effectiveness of Saving Incentives.”
Journal of Economic Perspectives
vol. 10, (January 01, 1996): 73-90.
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Journal Article
Calomiris, Charles and R. Glenn Hubbard. “Tax Policy, Internal Finance, and Investment: Evidence from the Undistributed Profits Tax of 1936-1937.”
Journal of Business
vol. 68, (October 01, 1995): 443-82.
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Journal Article
Hubbard, R. Glenn and Darius Palia. “Executive Pay and Performance: Evidence from the U.S. Banking Industry.”
Journal of Financial Economics
vol. 39, (September 01, 1995): 105-30.
Explore Further about Executive Pay and Performance: Evidence from the U.S. Banking Industry
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Journal Article
Hubbard, R. Glenn, Anil Kashyap, and Toni Whited. “Internal Finance and Firm-Level Investment.”
Journal of Money, Credit, and Banking
vol. 27, (August 01, 1995): 683-701.
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Journal Article
Hubbard, R. Glenn, Jonathan Skinner, and Stephen Zeldes. “Precautionary Saving and Social Insurance.”
Journal of Political Economy
vol. 103, (April 01, 1995): 360-99.
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Journal Article
Hubbard, R. Glenn and Darius Palia. “Benefits of Control, Managerial Ownership, and the Stock Returns of Acquiring Firms.”
RAND Journal of Economics
vol. 26, (January 01, 1995): 782-92.
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Journal Article
Hubbard, R. Glenn, Jonathan Skinner, and Stephen Zeldes. “The Importance of Precautionary Motives for Explaining Individual and Aggregate Saving.”
Carnegie-Rochester Conference Series on Public Policy
vol. 40, (June 01, 1994): 59-125.
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Journal Article
Hubbard, R. Glenn, Jonathan Skinner, and Stephen Zeldes. “Expanding the Life-Cycle Model: Precautionary Saving and Public Policy.”
American Economic Review
vol. 84, (May 01, 1994): 174-79.
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Journal Article
Cummins, Jason, Kevin Hassett, R. Glenn Hubbard, Robert Hall, and Ricardo Caballero. “A Reconsideration of Investment Behavior Using Tax Reforms as Natural Experiments.”
Brookings Papers on Economic Activity
vol. 2, (January 01, 1994): 1-74.
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Working Paper
Calomiris, Charles and R. Glenn Hubbard. Options Pricing and Accounting Practice. January 01, 2004.
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Newspaper/Magazine Article
Hubbard, R. Glenn. “The folly of America’s R&D cuts.” Financial Times. March 10, 2025.
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Newspaper/Magazine Article
Duggan, William and R. Glenn Hubbard. “Roots of Prosperity.” Strategy+Business. January 01, 2010.
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Newspaper/Magazine Article
Hubbard, R. Glenn and William Duggan. “The Forgotten Lessons of the Marshall Plan.” strategy+business. January 01, 2008.
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Newspaper/Magazine Article
Hubbard, R. Glenn and William Duggan. “Why Africa Needs a Marshall Plan.” Financial Times. June 04, 2007.
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Book
Hubbard, R. Glenn and William Duggan. The Aid Trap: Hard Truths About Ending Poverty. New York: Columbia Business School, 2009.
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Book
Cogan, John, R. Glenn Hubbard, and Daniel Kessler. Healthy, Wealthy, and Wise: Five Steps to a Better Health Care System. Washington, D.C.: AEI Press, 2005.
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Chapter
Fisman, Raymond and R. Glenn Hubbard. “The Role of Nonprofit Endowments.” In The Governance of Not-for-Profit Organizations, edited by E. Glaeser, Chicago: University of Chicago Press, 2003.
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Chapter
Cohen, Darrel, Kevin Hassett, and R. Glenn Hubbard. “Inflation and the User Cost of Capital: Does Inflation Still Matter?” In The Costs and Benefits of Price Stability, edited by Martin Feldstein, Chicago: University of Chicago Press, 1999.
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Chapter
Hassett, Kevin and R. Glenn Hubbard. “Tax Policy and Investment.” In Fiscal Policy: Lessons from Economic Research, edited by Alan J. Auerbach, Cambridge, Mass.: MIT Press, 1997.
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Chapter
Calomiris, Charles and 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, edited by Tamim Bayoumi, Barry Eichengreen, and Mark P. Taylor, 189-217. Cambridge: Cambridge University Press, 1996.
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Chapter
Cummins, Jason and R. Glenn Hubbard. “The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data.” In Effects of Taxation on Multinational Corporations, edited by M. Feldstein, J. R. Hines, and R. G. Hubbard, Chicago: University of Chicago Press, 1995.
Explore Further about The Tax Sensitivity of Foreign Direct Investment: Evidence from Firm-Level Panel Data
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Chapter
Cummins, Jason, Kevin Hassett, and R. Glenn Hubbard. “Do Tax Reforms Affect Investment?” In Tax Policy and the Economy, edited by J.M. Poterba, Cambridge, Mass.: MIT Press, 1995.
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  • Courses
  • Case Studies
Course
B8784: Business and Society: Reconciling Shareholder and Stakeholder Interests
View Course on Business and Society: Reconciling Shareholder and Stakeholder Interests
Course
B8265: Modern Political Economy
View Course on Modern Political Economy
Course
B7265: Modern Political Economy
View Course on Modern Political Economy
Course
B8345: Entrepreneurial Finance
View Course on Entrepreneurial Finance
  • Awards
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  • Articles
In the Media

Firing Line: Glenn Hubbard

PBS's "Firing Line"
In the Media

Why People Vote for Tariffs

Commonweal
In the Media

Peter Navarro’s Moment

National Review
In the Media

A US Tariff Idea That Makes Sense

Project Syndicate
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What Rebalancing the US Economy Really Requires

Project Syndicate
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How to Punish Russia, Make Money and End the War

The New York Times
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Did the Inflation Reduction Act Live up to Its Name?

Bloomberg's "Wall Street Week"
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The Son Also Rises

Puck
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How the Trump Administration Can Hit Its Growth Target

Project Syndicate
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Trump and the Economy - Second Time a Charm?

Wall Street Journal's "Free Expression" Podcast
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Economists Are in the Wilderness. Can They Find a Way Back to Influence?

The New York Times
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5 Reasons to Be Optimistic About the 2025 Economy

CNN Business
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Bloomberg Wall Street Week - November 8th, 2024

Bloomberg
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The Election Heard around the World | Wall Street Week

Bloomberg
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Making the Case for Capitalism: Questrom Launches a Well-Funded Mehrotra Institute

Poets & Quants
In the Media

A Pro-Growth Policy Agenda: My Long-Read Q&A with Glenn Hubbard

American Institute of Enterprise
In the Media

Why Elon Musk Is against Getting an MBA: 6 Steps to Get Hired by Musk

Hindustan Times
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‘Average People May Be on to Something Here’: Wall Street Week

Bloomberg
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Wall Street Week 06/21/2024

Bloomberg News "Wall Street Week"
In the Media

Larry Summers Talks Inflation, Macro Outlook | Bloomberg Talks

Bloomberg Podcasts
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Summers Sees Higher US Long-Term Treasury Yields over Time

Bloomberg
In the Media

Inflation Isn’t Likely to Come down to Fed’s 2% Target, Two Prominent Economists Say

MarketWatch
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Jamie Dimon Is Worried about How Much the US Is Borrowing. Here’s Why

CNN
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Biden’s China Tariffs Are the End of an Era for Cheap Chinese Goods

The New York Times
In the Media

US Politicians Aren’t Prepared for the AI Revolution. That’s Bad for the Economy

CNN
In the Media

Former CEA Chair Glenn Hubbard: We’re Potentially on the Cusp of a Growth Miracle with Productivity

CNBC
In the Media

Put Growth Back on the Political Agenda

The Wall Street Journal
In the Media

A Booming Economy?

The Wall Street Jounral
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Challenges for the Next Administration

Bloomberg
In the Media

Summers Says US Soft Landing ‘Very Real Possibility’ Now

Bloomberg
In the Media

Glenn Hubbard: 'I Still Think Recession Is Coming'

Barron's
In the Media

From the DealBook Summit: Experts Look Forward

The New York Times
In the Media

BlackRock Clashes with Hedge-Fund Giant over Control of Funds

The Wall Street Journal
In the Media

Tax Expenditures and Tax Reform

Cato Institute
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Two Takes on U.S. Debt and the Debt Ceiling

Council on Foreign Relations
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Debt limit ‘brinksmanship’ has a cost and is completely unnecessary: former CEA Chair Jason Furman

CNBC
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Top Obama Economist Says We Should Abolish the Debt Limit as the Current Political ‘Brinkmanship’ Hurts the Economy

Fortune
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How to End the US Debt Ceiling Stand-off

The Financial Times
In the Media

Breaking Down the Banking Crisis

Bloomberg
In the Media

Republican Economists Line Up Behind Biden Nominee

The New York Times
In the Media

Former CEA Chair Glenn Hubbard: The Fed Should Continue to Raise Rates

CNBC
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Balance of Power Full Show

Bloomberg TV
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Meet Columbia Business School’s MBA Class Of 2023

Poets & Quants
In the Media

Even My Business School Students Have Doubts About Capitalism

The Atlantic
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Even My Business-School Students Have Doubts about Capitalism

The Atlantic
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How Delta Variant Could Hit Economy

Bloomberg News
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Should You Worry About Inflation? Experts Weigh In.

The New York Times
In the Media

The Biden Budget's Arithmetic Problem

The Wall Street Journal
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Infrastructure Should Include the Right Investment in People

The Hill
In the Media

Biden Plan Spurs Fight Over What 'Infrastructure' Really Means

The New York Times
In the Media

Summers & Hubbard on a $15 Minimum Wage: Roundtable Responds

Bloomberg News
In the Media

Biden Proposes $1.9 Trillion Covid-19 Relief Package

The Wall Street Journal
In the Media

Months Later, More Than 1 million Americans Are Still Waiting for Unemployment Aid

The Washington Post
In the Media

Desperate Small Businesses Await Fresh Aid with or without Flaws

Bloomberg News
In the Media

Mnuchin Declines to Extend Several Crisis Loan Programs.

The Wall Street Journal
In the Media

Fed Lending Meets Political Resistance.

The Wall Street Journal
In the Media

Bidenomics: What Middle-Class Joe Means for Business and the Economy

Bloomberg News
In the Media

Trump Has No Economic Plan, Says Republican Economist Glenn Hubbard

Bloomberg News
In the Media

U.S. Economy Is at Risk with Stimulus Still Uncertain

The New York Times
In the Media

Anxious for a Lifeline, the U.S. Economy Is Left to Sink or Swim

The New York Times
In the Media

Coronavirus Lifts Government Debt to WWII Levels-Cutting It Won't Be Easy

The Wall Street Journal
In the Media

Former CEA Chair Glenn Hubbard on Issues with the Fed's Lending Program

CNBC
In the Media

Four Experts Break Down the Blowout June Jobs Report

CNBC-TV
In the Media

What a Successful Economic Recovery Plan Must Look Like

The Washington Post
In the Media

Fear of Risk Could Diminish the Economic Rescue by the Treasury and Fed

The New York Times
In the Media

The Trump Administration Says a New Bailout Program Will Help 35 Million Americans. Will It?

Salon
In the Media

'Lives or Livelihoods' Misses the Point of Pandemic Recovery

The Hill
In the Media

As Job Losses Mount, Lawmakers Face a Make-or-Break Moment

The New York Times
In the Media

Main Street Coronavirus Loans Will Be Tricky Territory for Federal Reserve

The Associated Press
In the Media

For Many Small Businesses, U.S. Coronavirus Aid Falls Short

The Wall Street Journal
In the Media

Fed Faces Risky, Inflationary Divorce from Treasury Post Covid

Bloomberg News
In the Media

Resentment Grows on Main Street over Bailout Winners and Losers

Bloomberg News
In the Media

Good Budget News on U.S. Relief Package May Be Bad News for Economy

Bloomberg News
In the Media

Government Is Everywhere Now. Where Does It Go Next?

The Washington Post
In the Media

How the Government Pulls Coronavirus Relief Money out of Thin Air

The New York Times
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WTH Is Going on with the Coronavirus Economy? Glenn Hubbard on the Paycheck Protection Program and the Prospects for a Rapid Recovery

American Enterprise Institute
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Best Use of Your $1,200 Coronavirus Stimulus Check? Personal Finance Expert Weighs In

Observer
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Trump Resists Calls from Corporate Leaders to Lift Trade Tariffs

The New York Times
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The Stimulus's $349 Billion Program to Pay Workers at Struggling Small Businesses, Explained

Vox
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How to Avoid the Demand Doom Loop

Bloomberg News
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Congress Puts Aside Its Habitual Dysfunction and Responds to Covid-19

The Economist
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Fed Breaks the Bank in Bid to Rescue Economy

Politico
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Strategies to Restart an Economy on Ice.

The New York Times
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Trump's Fate Tied to an Unknown: How Fast Economy Recovers

The Associated Press
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Top Economists See Echoes of Depression in U.S. Sudden Stop

Bloomberg News
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Small Business Alone Needs $1 Trillion Now

Bloomberg News
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U.S. Should Flood Businesses with Cash, Says Former White House Economist

Bloomberg News
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Fed Needs to Work on Its Communication, Glenn Hubbard Says

Bloomberg News
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Fed Faces Threat like Never before While Virus Petrifies Markets

Bloomberg News
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Even Deficit Hawks Support Big Spending to Fight the Virus Slump

Bloomberg News
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Economic Prescription for Coronavirus: 'You've Got to Go Fast'

The New York Times
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America's Hottest New Dating Sites: Business School Campuses

The Wall Street Journal
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With U.S. Help, Global Growth in 2020 May Recover a Bit from a Dismal 2019

Bloomberg News
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No More 'Marshall Plans'

The Wall Street Journal
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America Needs to Fix Capitalism to Save It

The Economist
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Current Economic Data Isn't Cause for a Big Rate Cut, Say Experts

CNBC
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New Bernie Sanders Plan May Come with Housing Supply Issues

Fox Business News
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Dean Glenn Hubbard's Interview with Nikkei Asian Review

Article

Bizcast: Professor Joseph Stiglitz and The Road to Freedom

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Article

How Trump’s Second Term Could Reshape Business Strategy: Tariffs, Tax Cuts, and Climate Policy

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Article

Connecting Business and Society at The Hub

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Article

The Trump Economic Awakening: Policies and Impact

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How Pandemic Jobless Aid Boosted Employment but Left Households Struggling

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More MPE With the Political Economists

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Article

The Future of Capitalism: How Business Leaders Should Prepare

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The Entrepreneurial Ecosystem

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Hubbard, Santos Awarded Singhvi Prize

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Article

Rethinking Capitalism: Is the Current System Working for America?

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Article

January Jobs Report 'a Real Challenge for the Fed': Dean Emeritus R. Glenn Hubbard

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Article

The US Debt Showdown: Catastrophe or Opportunity?

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Article

Introducing The Hub, A New Think Tank to Tackle Society’s Most Pressing Challenges

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Article

Columbia Bizcast: Dean Glenn Hubbard

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Article

Response to Executive Order on Refugee and Immigration Policy

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Article

Columbia Business School Renames Chazen Institute as the Jerome A. Chazen Institute for Global Business

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Article

Researchers Recommend Accelerated Amortization Options for Underwater Homeowners

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Article

Dean Glenn Hubbard to Lead Mitt Romney's Economic Policy Team

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Article

Dean Hubbard Leads Study Group Looking at the Future of Corporate Boards

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Article

Secretary Henry Paulson Answers Student Questions

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Article

Dean Hubbard Leads National Nonpartisan Committee on Capital Markets

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Article

Dean Glenn Hubbard to Deliver University Lecture on May 9

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Article

Dean Hubbard Discusses New Book on Healthcare Reform at Google Headquarters

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Article

Faculty Members Cite Economic Impact of Hurricane Katrina as Key 2005 Event

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Dean Hubbard Publishes New Book on America's Health Care System

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Dean's Prizes for Teaching Excellence Awarded to Management Professors Toby Stuart and Daniel Ames

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Closing the Door on Europe

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The St. Louis Renaissance Grand Hotel: Does a Shift in Context Create an Opportunity?

How might a creative entrepreneur find opportunity in the courthouse-steps bankruptcy sale of a historic property?

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Theracor Pharmaceuticals, Inc.

Should an Ivy League medical researcher leave his academic career to lead a pharmaceutical start-up?

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