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Robert Chirinko

Robert Chirinko, Professor of Finance
  • Professor of Finance

Office: 2333 UH
Phone: (312) 355-1262



  • Ph.D., Economics, Northwestern University, 1982
  • M.A., Economics, Northwestern University, 1979
  • B.A., Economics, University of Pennsylvania, 1975


Robert Chirinko received his Ph.D. from Northwestern University in 1982. His research examines business behavior with a focus on financial markets, capital formation, corporate governance and finance, macroeconomics, and tax policy. He has held faculty positions at Cornell University (1982-1985) and the University of Chicago (1985-1992) and visiting positions at Stanford University (1984-1985), the University of Munich (1992), the Federal Reserve Bank of Kansas City (1992-1993), and the University of Illinois at Urbana/Champaign (1993-1994). Prior to coming to the University of Illinois at Chicago, he was on the faculty of Emory University from 1994-2007, where he was the Winship Distinguished Research Professor in the Social Sciences. He is currently a professor in the Finance Department at the University of Illinois at Chicago, a research fellow at the Center for Economic Studies (Munich), a faculty affiliate at the Institute of Government and Public Affairs (University of Illinois), and a visiting scholar at the Federal Reserve Bank of San Francisco.

His work has been supported by the National Science Foundation, the Canadian Department of Finance, the Canadian Embassy, Industry Canada, the Dutch National Bank, the Einaudi Institute of Economics and Finance, the Federal Home Loan Bank Board, the Federal Reserve Bank of San Francisco, the German Bundesbank, the German Academic Exchange Service (DAAD), the Kauffman Foundation/Georgia Research Alliance, the Prudential Foundation, and the Upjohn Foundation. He has received the Outstanding Doctoral Dissertation Award (shared with L. Summers) from the National Tax Association and the James L. Barr Memorial Award in Public Economics and the Vernon Award both from the Association for Public Policy Analysis and Management. He was a Houblon-Norman/George Senior Fellow at the Bank of England (Fall 2006), a Visiting Scholar at the European University Institute (Spring 2008), a Visiting Professor at Deakin University (Summer 2012, Summer 2015, Summer 2017), a Visiting Researcher at Goethe University (Fall 2013), and a Visiting Professor at the Einaudi Institute of Economics and Finance (Spring 2014, Summer 2015, Summer 2016, Summer 2017, Spring 2018).

Classes Taught

  • Financial Economics
  • Public Economics
  • Macroeconomics

Research & Publications

Select Publications
  • “The Substitution Elasticity, Factor Shares, And The Low-Frequency Panel Model” (with Debdulal Mallick), American Economic Journal: Macroeconomics (forthcoming, October 2017). 
  • "Greenspan Shrugs: Formal Pronouncements, Bond Market Volatility, And Central Bank Communication" (with C. Curran), in Pierre Siklos and Jan-Egbert Sturm (eds.), Central Bank Communication, Decision-Making and Governance: The Issues, Challenges, and Case Studies (Cambridge: MIT Press, 2013), 149-179.  
  • "A New Approach to Estimating Production Function Parameters:  The Elusive Capital-Labor Substitution Elasticity" (with Steven M. Fazzari and Andrew P. Meyer), Journal of Business & Economic Statistics 29 (October 2011), 587-594.
  • "The Irreversibility Premium” (with H. Schaller), Journal of Monetary Economics 56 (April 2009), 390-408.
  • "σ:  The Long and Short of It," in Rainer Klump and Chris Papageorgiou (eds.), The CES Production Function in the Theory and Empirics of Economic Growth; conference proceedings published in a special issue of the Journal of Macroeconomics 30 (June 2008), 671-686.  
  • "State Investment Tax Incentives:  A Zero-Sum Game?" (with Daniel J. Wilson), Journal of Public Economics 92 (December 2008), 2362-2384. 
  • "A Revealed Preference Approach to Understanding Corporate Governance Problems:  Evidence from Canada" (with Huntley Schaller), Journal of Financial Economics 74 (Oct. 2004), 181-206.   
  • "Business Fixed Investment and 'Bubbles': The Japanese Case" (with Huntley Schaller), American Economic Review 91 (June 2001), 663-680.
  • "Business Fixed Investment Spending: Modeling Strategies, Empirical Results, and Policy Implications," Journal of Economic Literature 31 (December 1993), 1875-1911.
Working Papers & Other Research Materials