Hu McCulloch

Hu McCulloch


J. Huston McCulloch is Professor Emeritus at the Ohio State University Economics Department and Adjunct Professor at the New York University Economics Department. Much of his research has centered on the implications of maturity mismatching, or misintermediation as he calls it, by banks and financial intermediaries, as it affects the both the stability of the payments system and the Austrian concept of the intertemporal structure of production. He has become an authority on the term structure of interest rates that coordinates intertemporal production and consumption decisions, as well as the heavy-tailed Paretian stable probability distributions that realistically model severe financial risks.

He is the author of Money and Inflation: A Monetarist Approach (Academic Press, 1982). His articles on banking, finance and econometrics have appeared in the American Economic Review, Journal of Political Economy, Journal of Money, Credit and Banking, Journal of Monetary Economics, Journal of Finance, Journal of Econometrics, and other leading professional journals. An early article on Austrian utility theory was published in Austria in the Zeitschrift für Nationalökonomie. He has recently written several posts on policy issues for the Beacon, the blog of the Independent Institute.

Before Ohio State, McCulloch taught at Boston College, and served briefly as a Lecturer at Harvard. He has edited the Journal of Money, Credit and Banking and been a Faculty Research Fellow at NBER-West. He was invited to present the Ludwig von Mises Lecture at the 2014 Austrian Economic Research Conference, which appeared in the Spring 2014 Quarterly Journal of Austrian Economics. In his spare time, he has written extensively on climate change and archaeological anomalies.

Hu McCulloch also blogs at Independent Institute's The Beacon