Matt Jaremski - Colgate University - Faculty Directory

Colgate Directory


Matt Jaremski

Assistant Professor of Economics
Economics, 221 Persson Hall
p 315-228-7524


Austin College, B.A. in Economics (with Honors), Business Administration, and Classical Civilizations, summa cum laude, 2006
Honors Thesis: “Greek Economics: Repositioning Aristotle in the History of Economic Thought”

Vanderbilt University, Ph.D. in Economics, 2010
Dissertation Title: “Free Banking: A Reassessment Using Bank-Level Data”


American Economic History, Money and Banking, Financial Economics, and Macroeconomics


Banking systems prior to the Federal Reserve, Financial Crises, and Finance-Growth Nexus


Published Articles:

  1. “Free Bank Failures: Risky Bonds vs. Undiversified Portfolios”, Journal of Money, Credit, and Banking Vol. 42 (2010), pp. 1565-1587.
  2. “Bank-Specific Default Risk In The Pricing Of Bank Note Discounts” Journal of Economic History Vol. 71 (2011), pp. 950-975.
  3. “Estimating Antebellum Passenger Costs: A Hub-and-Spoke Approach” Historical Methods Vol. 45 (2012), pp. 93-101.
  4. “Land, Location, and Labor: Accounting for Racial Differences in Postbellum Cotton Production” (with Neil Canaday) Explorations in Economic History Vol. 49 (2012), pp. 291-302.
  5. “Banks, Free Banks, and Economic Growth” (with Peter Rousseau) Economic Inquiry Vol. 51 (2013), pp. 1603–1621.
  6. “State Banks and the National Banking Acts: Measuring the Response to Increased Financial Regulation, 1860–1870” Journal of Money, Credit, and Banking Vol. 45 (2013), pp. 379–399.
  7. "National Banking's Role in U.S. Industrialization, 1850-1900" Journal of Economic History Vol. 74 (2014), pp. 109-140.
  8. "Sales and Firm Entry: The Case of Wal-Mart" (with PJ Glandon) Southern Economic Journal Vol. 81 (2014), pp. 168-192
  9. "American Banking and the Transportation Revolution Before the Civil War” (with Jeremy Atack and Peter Rousseau) Journal of Economic History Vol. 74 (2015), pp. 943 - 986
  10. "Clearinghouses as Credit Regulators Before the Fed” Forthcoming Journal of Financial Stability
  11. "Did Railroads Make Antebellum U.S. Banks More Sound? Linking Rail Locations With Bank Balance Sheets and Survival Rates" (With Jeremy Atack and Peter Rousseau) forthcoming in Enterprising America: Business, Banks, and Credit Markets in Historical Perspective
  12. "Introduction au régime de banque libre aux États-Unis (An Introduction to Free Banking in the United States)" forthcoming in Revue d'économie financière
  13. "The Evolution of Bank Supervision: Evidence from U.S. States" (With Kris Mitchener) forthcoming in Journal of Economic History
  14.  "The Competition and Coexistance of Mutual and Commercial Banks in New England, 1870-1914" (With Brady Plastaras) forthcoming in Cliometrica
Forthcoming Handbook Chapters
  1. "Banking from 1790 to the Founding of the Federal Reserve" (With Peter Rousseau) in the Oxford Dictionary of American Economic History
  2. "The Cliometric Study of Financial Panics and Crashes" in the Handbook of Cliometrics
Book Reviews
-Review of Kenneth D. Garbade’s “Birth of a Market: The U.S. Treasury Securities Market from the Great War to the Great Depression” Economic History Review Vol. 66 (2013), pp. 1219–1220
-Review of Nicholas Crafts and Peter Fearon's "The Great Depression of the 1930s: Lessons for Today" Journal of Economic Literature Vol. 52 (2014), pp. 541-542
-Review of Michael J Hightower’s "Banking in Oklahoma Before Statehood" forthcoming in Journal of Economic History.

Working Papers:
-"Rural Land and Inequality and the Development of a New Credit System in the South After the Civil War, 1860-1900" (with Price Fishback)
-"The Rise of Commercial Bank Deposits in the United States" (With Peter Rousseau)
-"Banks, Life Cycle Saving, and the American Fertility Transition, 1800-1880" (With Michael Haines and J. David Hacker)
-“Liquidity Risk, Bank Networks, and the Value of Joining the Fed” (With Charles W. Calomiris, Haelim Park, and Gary Richardson)
-"Understanding the Cyclical Nature of Financial Intermediation Costs" (With Ayse Sapci)
-"The (Dis)Advantages of Clearinghouses Before the Fed"
-"Quantifying Wildcat Banking" (with Jeremy Atack)
-"Capital Requirements and Bank Activity: RDD evidence from the National Banking Period" (With Greg Niemesh)

Archival and Data Collection Projects:
-U.S. Passenger Transportation Costs - 1837, 1849, 1859, 1867
-National Bank Balance Sheets - Comptroller of the Currency - 1865-1920
-State Bank Balance Sheets - Various State Banking Department Records- 1863-1920
-Locations of National Banks, State Banks, and Trust Companies - Bankers Directories - 1860-1910

Professional Experience

  • Faculty Research Fellow, National Bureau of Economic Research
  • Referee for Cliometrica, Columbia University Press, Eastern Economic Journal, Economic History Review, Explorations in Economic History, The Independent Review, Journal of Economic History, Journal of Money, Credit, and Banking, Journal of Policy History, Quarterly Review of Economics and Finance, Southern Economic Journal, and Western Historical Quarterly


  • H. Cole Grants in Aid, Economic History Association, 2013
  • Major Grant, Colgate University, 2013
  • Summer Research Apprenticeship Funding, Colgate University, 2012 
  • Sokoloff Dissertation Fellowship, Economic History Association, 2010
  • Rendigs Fels Award for Excellence in Teaching, Vanderbilt University, 2010
  • Household International Best Research Paper Award, Vanderbilt University, 2009
  • College of Arts and Science Summer Research Award, Vanderbilt University, 2008
  • Graduate Fellowship/Assistantship, Vanderbilt University, 2006-2010
  • Phi Beta Kappa, National Undergraduate Honor Society, Austin College, 2006
  • Mellon Summer Research Fellowship, Austin College, 2005
  • Grace and Will Collins Scholarship in Economics, Austin College, 2005