Emily Johnston Ross

FDIC - Center for Financial Research

550 17th Street NW - Washington, DC 20429

T (202) 898 6841 • B emjohnston@fdic.gov

Education

City University of New York, New York City

Ph.D. Economics 2013

Dissertation title: “Essays in Time-Varying Volatility"

Fields of specialization: International Macro and Finance, Econometrics

M.A. Economics 2010

St. John’s College, Santa Fe, NM

B.A. Liberal Arts 2000

Experience

Federal Deposit Insurance Corporation, Washington, DC

Senior Financial Economist 2015 – present

Acting Chief, Financial Modeling and Research Dec. 2017 – Apr. 2018

Financial Economist 2013 – 2015

Barnard College, New York City

Teaching Assistant, Department of Economics 2011-2013

Courses: Econometrics, Intermediate Macroeconomics

Reader, Department of Economics 2011-2012

Courses: International Trade, Labor Economics

Brooklyn College, New York City

Adjunct, Department of Economics 2010-2011

Courses: Money and Banking

Graduate Teaching Fellow 2007-2010

Courses: Money and Banking, Microeconomics

Publications

Johnston Ross, E. and L. Shibut. 2021. “Loss Given Default, Loan Seasoning and Financial

Fragility: Evidence From Commercial Real Estate Loans at Failed Banks," The Journal of Real

Estate Finance and Economics 63(4): 630-661.

Working Papers

Johnston Ross, E., Nichols, J. and L. Shibut. 2021. “Determinants of Losses on Construction

Loans: Bad Loans, Bad Banks or Bad Markets?" FDIC Center for Financial Research Working

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Paper No. 2021-07.

Johnston Ross, E., Ma, S. and M. Puri. 2021. “Private Equity and Financial Stability: Evidence

From Failed Bank Resolution in the Crisis," FDIC Center for Financial Research Working Paper

No. 2021-04.

- Winner of GARP Best Paper in Risk Management, 2021 MFA Annual Meeting

Johnston Ross, E. and L. Shibut. 2015. “What Drives Loss Given Default? Evidence From

Commercial Real Estate Loans at Failed Banks," FDIC Center for Financial Research Working

Paper No. 2015-03.

Research in progress

“Risk Preferences Under Changing Volatility Regimes: A Markov Switching Approach to Pricing

Kernel Estimation"

“Private Equity and Financial Stability: Evidence From Failed Bank Resolution in the Crisis"

“Determinants of Losses on Construction Loans: Bad Loans, Bad Banks or Bad Markets?"

“Risk Shifting and Collateral in Real Estate Lending: Theory and Evidence"

“Supply Side Risks and Dynamics in Construction Lending"

“Commercial and Industrial Loan Losses in Crisis"

Presentations

AEA-ASSA Annual Meetings, Interagency Risk Quantifcation Forum, International Atlantic

Economic Society Conference, Eastern Finance Association Annual Meeting, FDIC Center for

Financial Research Seminar Series, The City University of New York Seminar Series, New York

State Economics Association Annual Conference

Honors and Awards

Doctoral Students Research Grant, The City University of New York

Chancellors Fellowship, The City University of New York

Graduate Teaching Fellow, The City University of New York

National Merit Scholarship, St. John’s College

IBM Thomas J. Watson Jr. Scholarship, St. John’s College

Tenet Scholarship, St. John’s College

Best Essay Award, St. John’s College

Referee

Journal of Financial Services Research, Economic Inquiry

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