George F. Shoukry, Ph.D.

550 17th Street, NW Work: (202) 898-7141 

Washington, DC 20429 gshoukry@fdic.gov 

Updated: January 30, 2023 

EDUCATION

Ph.D. Economics, University of Texas at Austin May 17, 2014 

Dissertation: “Essays on Mechanism Design, Safety, and Crime”

M.S. Economics, University of Texas at Austin May 21, 2011 

M.S. Mechanical Engineering, Georgia Institute of Technology Dec 13, 2008 

Specialization: Control Theory, Mathematics (minor)

Thesis: “State-Space Realization for Nonlinear Systems” 

B.S. Mechanical Engineering, West Virginia University May 13, 2007 

 Summa Cum Laude 

Minor: Mathematics

PROFESSIONAL WORK EXPERIENCE

Federal Deposit Insurance Corporation, Division of Insurance and Research, Washington, DC 

Senior Economist 

(May 2022-Present) 

Acting Section Chief, Financial Modeling and Research Section 

(February 2022-May 2022) 

Senior Financial Economist 

(July 2018-February 2022) 

(July 2016-March 2018) 

Acting Section Chief, Special Studies Section 

(April 2018-July 2018) 

Financial Economist 

(June 2014-July 2016) 

FIELDS OF RESEARCH SPECIALIZATION

Primary: Banking, Applied Microeconomics, Mechanism Design, Game Theory 

Secondary: Microeconomic Theory, Computational Economics, Econometrics 

PUBLICATIONS

• “Insurance Pricing, Distortions, and Moral Hazard: Quasi-Experimental Evidence from Deposit 

Insurance,” Journal of Financial and Quantitative Analysis, forthcoming

• Semifinalist for Best Paper Award, 2021 Financial Management Association (FMA) Annual 

Meeting, Financial Markets Category

• “Economies of Scale in Community Banks,” with Stefan Jacewitz and Troy Kravitz, FDIC Staff 

Studies, 2020, Report No. 2020-06 
• “Outcome-Robust Mechanisms for Nash Implementation,” Social Choice and Welfare, 2019, 52(3), 

497-526 (View full-text) 

• “Criminals' Response to Changing Crime Lucre,” Economic Inquiry, 2016, 54(3), 1464-1483 

• “Quarterly Fiscal Policy Experiments with a Multiplier-Accelerator Model,” with David Kendrick, 

Computational Economics, 2014, 44(3), 269-293 

OTHER WORKS

• “Safety in Mechanism Design and Implementation Theory,” 2014. Available at SSRN: 

https://ssrn.com/abstract=2478655

JOURNAL REFEREEING

• Review of Economic Studies, Journal of Financial Services Research

SELECTED FDIC EXPERIENCE

• Provided expertise as a quantitative specialist on more than 20 bank examinations for more than 13 

different banks ranging in size from less than $15 billion to over $150 billion. In this role, I 

examined banks’ models, assessed model risk, evaluated banks’ efforts in remediating open 

Supervisory Recommendations, and assessed the adequacy of performance monitoring plans and 

model validations. 

• Mentored several PhD economists on FDIC bank examinations. Trained economists on evaluating 

banks’ risk management processes in accordance with the relevant supervisory guidance, writing 

exam memos, interacting with bank management and staff, holding bank exam meetings, and 

navigating exam procedures. Helped establish best practices for examinations. 

• Served as a developer and programmer for a machine learning model built to forecast bank health. 

Programmed the generation of bank-specific dashboards to allow users to quickly identify bank risk 

factors.

• Contributed to the maintenance, validation, and updating of established FDIC quantitative models, 

and regularly worked across divisions within the FDIC to provide modeling and quantitative 

expertise.

• Assisted in the review and selection of papers submitted to the FDIC Bank Research Conference 

(2016, 2017, 2019, 2021). Assisted in conference organization. Served as a reviewer for papers 

submitted to the FDIC Center for Financial Research Working Paper and Staff Studies series.

• As an acting section chief, I supervised teams of PhD economists and provided leadership and 

direction to staff conducting academic research, bank examinations, and FDIC corporate projects. 

• Presented research and corporate projects both internally and externally. Internal FDIC presentations 

included audience from the chairman’s office as well as division directors. External presentations 

included audience from academia, banking industry, and regulatory agencies. 

SELLECTED PROFESSIONAL PRESENTATIONS

• “Insurance Pricing, Distortions, and Moral Hazard: Quasi-Experimental Evidence from Deposit 

Insurance,” 

• FDIC/JFSR Bank Research Conference, December 2, 2021 

• Financial Management Association (FMA) Annual Meeting, October 20, 2021 

• International Association of Deposit Insurers (IADI) Research Conference, May 10, 2021 

• Community Banking in the 21st Century Research and Policy Conference, October 1, 2020 

• “How do Differentials in Deposit Insurance Premiums Affect Banks? Evidence from a Historical 

Premiums Disparity,” FDIC Center for Financial Research Seminar, November, 26, 2019 

• “Using Machine Learning to Predict Bank Downgrades,” 
• Interagency Risk Quantification Forum, November, 15, 2018

• Interagency Early Warning Model Workshop, September 10, 2018

• “Economies of Scale in Community Banks,” FDIC Center for Financial Research Seminar, November 

24, 2015

• “Criminals’ Response to Changing Crime Lucre,” 

• Office of the Comptroller of the Currency, January 27, 2014

• FDIC Center for Financial Research Seminar, January 28, 2014

• “Safety in Mechanism Design and Implementation Theory,” 

• FDIC Center for Financial Research Seminar, September 16, 2014

• (Invited) Society of Social Choice and Welfare, Boston, MA, June 18-June 21, 2014

• 2nd Texas Economics Theory Camp, College Station, TX, September 28-September 29, 2013

• (Presented by coauthor) “Quarterly Fiscal Policy in a Multiplier-Accelerator 

Model: Monte Carlo Results,” CEF 2012 Conference, Prague, Czech Republic, June 27-June 29, 2012

• (Presented by coauthor) “Quarterly Fiscal Policy in a Multiplier-Accelerator Model,” Society of 

Computational Economics 17th International Conference on Computing in Economics and Finance 

(CEF 2011), San Francisco, CA, June 29-July 1, 2011

OTHER RESEARCH AND TEACHING EXPERIENCE

Research and Teaching Assistant, University of Texas at Austin

Prof. John Hatfield Fall 2013, Spring 2014

Research Assistant, University of Texas at Austin 

Prof. David Kendrick Spring-Summer 2010

Teaching Assistant, University of Texas at Austin

Introduction to Microeconomics Fall 2009

Probability and Statistics, Ph.D. level Fall 2010

Applied Macroeconomics Spring 2011, Spring 2012, Spring 2013

Mathematical Economics Refresher, Ph.D. level Summer 2011

Plan II Honors Macroeconomics Fall 2011, Fall 2012

Teaching Assistant, Georgia Institute of Technology

Experimental Methods Lab (ME 3057) Spring 2008-Fall 2008

PREVIOUS EMPLOYMENT 

Summer Intern, Teacher Retirement System of Texas Summer 2012

Summer Intern, Volvo Powertrain Summer 2006

FELLOWSHIPS, HONORS, AND AWARDS

FDIC Mission Achievement Award, 2016, 2019, 2021, 2022

FDIC Star Award, 2015(2), 2016(2), 2017(2), 2019, 2020, 2021

Nominated for FDIC Chairman’s Annual Award, 2016

2nd Year Paper Honorable Mention Award, University of Texas at Austin 2011

Paper Title: “Designing Safe Mechanisms: Safe Equilibria and Implementation”

Professional Development Award, University of Texas at Austin 2011

Mountaineer Scholarship, West Virginia University 2004-2007

Promise Scholarship, West Virginia University 2004-2007

2nd in the state of WV in the West Point Academy Bridge Design Contest 2004

PERSONAL INFORMATION

U.S. Citizen