John Chalmers

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Degree History:

PhD, University of Rochester, 1995
MS, University of Rochester, 1992
BA, Middlebury College, 1985

Previous Academic Positions:

Visiting Associate Professor at Hong Kong University of Science and Technology
Visiting Associate Professor at The Massachusetts Institute of Technology

Research/Teaching Awards:

TIAA-CREF Paul A. Samuelson Award for Outstanding Scholarly Writing on Lifelong Financial Security, 2014
Beta Gamma Sigma Professor of the Year 2007–2008
Charles H. Lundquist Distinguished Research Scholar, 2008
Gerry and Marilyn Cameron Distinguished Research Scholar, December 2004–2007

Bio:

John Chalmers is the Abbott Keller Professor of Finance and head of the Department of Finance at the Lundquist College of Business where he has been a faculty member since 1996. His published and ongoing research explores pricing in the municipal bond market, pricing in the mutual fund market, and retirement savings behavior in households. He serves as a reviewer for journals such as The Review of Financial Studies, The Journal of Finance, and the Journal of Financial Economics and is a member of the American Finance Association. Chalmers also serves as a member of the Investment Committee for the Oregon Public Universities Retirement Plans (OPURP) which provides oversight for over $1.9 billion in retirement assets.

Chalmers received his PhD and MS from the University of Rochester in 1995 and 1992 and BA in economics from Middlebury College in 1985. He has been called upon to offer expert testimony in complex financial litigation surrounding issues in the municipal bond market and in retirement plans. Chalmers has also been on the faculties as a visiting professor at the Massachusetts Institute of Technology, at the Hong Kong University of Science and Technology, and at the Toulouse School of Business. He was on the permanent faculty at Virginia Polytechnic Institute and State University prior to joining Oregon. He worked in public finance from 1985 to 1989.

Working Papers

Chalmers, John, Jingyun Yang, and Z. Jay Wang. "Organizational Form and Liquidity: Evidence from Open- vs. Closed-End Municipal Bond Funds." July 2018.

Household Finance
Municipal Bond Markets
Mutual Funds
Retirement Behavior
Transaction Costs

Journal Articles

Chalmers, John, Yu (Steve) Liu, and Z. Jay Wang. "The Difference a Day Makes: Timely Disclosure and Trading Efficiency in the Muni Market." Journal of Financial Economics 139, no. 1: 313-335. https://doi.org/10.1016/j.jfineco.2020.07.015.
January 2021
Chalmers, John, and Jonathan Reuter. "Is Conflicted Advice Better Than No Advice?" Journal of Financial Economics 138, no. 2: 366-387. https://doi.org/10.1016/j.jfineco.2020.05.005.
November 2020
Chalmers, John, Woodrow T. Johnson, and Jonathan Reuter. "The Effect of Pension Design on Employer Costs and Employee Retirement Choices: Evidence from Oregon." Journal of Public Economics 116: 17-34. https://doi.org/10.1016/j.jpubeco.2013.07.001.
August 2014
Chalmers, John, Adotya Kaul, and Blake Phillips. "The Wisdom of Crowds: Mutual Fund Investors' Aggregate Asset Allocation Decisions." Journal of Banking and Finance 37, no. 9: 3318-3333. https://doi.org/10.1016/j.jbankfin.2013.05.004.
September 2013
Chalmers, John, and Jonathan Reuter. "How Do Retirees Value Life Annuities? Evidence from Public Employees." The Review of Financial Studies 25, no. 8: 2601-2634. https://doi.org/10.1093/rfs/hhs057.
August 2012
Bergstresser, Daniel, John M. R. Chalmers, and Pater Tufano. "Assessing the Costs and Benefits of Brokers in the Mutual Fund Industry." Review of Financial Studies 22, no. 10: 4129-4156. https://doi.org/10.1093/rfs/hhp022.
October 2009
Chalmers, John M. R.. "Systematic Risk and the Muni Puzzle." National Tax Journal 59, no. 4: 833-848. https://doi.org/10.17310/ntj.2006.4.05.
December 2006
Chalmers, John M. R., Larry Y. Dann, and Jarrad Harford. "Managerial Opportunism? Evidence from Directors' and Officers' Insurance Purchases." Journal of Finance 57, no. 2: 609-636. https://doi.org/10.1111/1540-6261.00436.
April 2002
Chalmers, John M. R., Roger M. Edelen, and Gregory B. Kadlec. "On the Perils of Financial Intermediaries Setting Security Prices: The Mutual Fund Wild Card Option." Journal of Finance 56, no. 6: 2209-2236. https://doi.org/10.1111/0022-1082.00403.
December 2001
Chalmers, John M. R., and Gregory B. Kadlec. "An Empirical Study of the Amoritized Spread." Journal of Financial Economics 48, no. 2: 159-188. https://doi.org/10.1016/S0304-405X(98)00007-5.
May 1998
Chalmers, John M. R. "Default Risk Cannot Explain the Muni Puzzle: Evidence from Municipal Bonds that are Secured by U.S. Treasury Obligations." Review of Financial Studies 11, no. 2: 281-308. https://doi.org/10.1093/rfs/11.2.281.
April 1998

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John Chalmers

Degree History:

Previous Academic Positions:

Research/Teaching Awards:

Bio:

Oregonians Will Save, If they Can Afford It

Is Conflicted Investment Advice Better Than No Advice?

The Difference a Day Makes

An Open Letter from Faculty to Business Students

Petra Salko Aces Tests On and Off Course

Leaders in Finance Education

Truth and Consequences in Startups

Lecture Tackles Student Debt

Working Papers

Journal Articles