Faculty
Emil Verner is the Albert F. (1942) and Jeanne P. Clear Career Development Professor of Global Management and Professor of Finance at the MIT Sloan School of Management. His research lies at the intersection of finance and macroeconomics, with a particular focus on understanding the causes and consequences of financial crises over the past 150 years. Verner's recent work examines the drivers of bank runs and insolvency during banking crises, the role of debt booms in amplifying macroeconomic fluctuations, the effectiveness of debt relief policies during crises, and how financial crises impact political polarization and support for populist parties.
Before joining MIT, he earned a PhD in economics from Princeton University.
Featured Publication
"Household Debt and Business Cycles Worldwide."Mian, Atif, Amir Sufi, and Emil Verner. The Quarterly Journal of Economics Vol. 132, No. 4 (2017): 1755-18171. SSRN Preprint. Out of sample results. The Economist. Equitable Growth. NBER Digest. Appendix.
Müller, Karsten and Emil Verner. The Review of Economic Studies Vol. 91, No. 6 (2024): 3645–3676.
Sastry, Parinitha, Emil Verner, and David Marques-Ibanez, Working Paper. April 2024. European Central Bank Working Paper Series No. 2921.
Correia, Sergio, Stephan Luck, and Emil Verner, MIT Sloan Working Paper 7060-23. Cambridge, MA: MIT Sloan School of Management, April 2024.
Verner, Emil. Brookings Papers on Economic Activity, April 2024.
Gyongyosi, Gyozo, Judit Rariga, and Emil Verner, MIT Sloan Working Paper 6835-22. Cambridge, MA: MIT Sloan School of Management, December 2022.
Voluntary climate commitments by financial institutions aren’t having a positive impact, research finds. But banks do have time to reverse course and make progress.
“Overall, it seems like there have been substantial commitments that have not really translated into meaningful changes in these banks’ business models."
"Most bank failures result from deteriorating solvency rather than bank runs."
Emil Verner discussed the causes and policy implications of bank failures and how financial crises spur the rise of populism.
"To prevent failures and crises, banks need to be really focused on solvency and capitalization."
What we are trying to understand is what do bank failures look like throughout history and which theories are most consistent with that history.
