hero image



Areas of Expertise (8)

Small Business Lending

Bank Mergers and Acquisitions


Business Conditions

Consumer Spending

Unemployment And Inflation

Federal Reserve Monetary Policy And Interest Rates

Credit Union Failures And Losses

Education (2)

Northwestern University: PhD, Economics

Binghamton University: BA, Economics and History

Honors & Awards (3)

Earl F. Cheit Award for Excellence in Teaching


Earl F. Cheit Award for Excellence in Teaching


Earl F. Cheit Award for Excellence in Teaching


Selected External Service & Affiliations (3)

  • Member, Advisory Board: North American Economics and Finance Association
  • Treasurer and Member, Board of Directors, Cal State 9 Credit Union
  • Economic and financial consulting

Positions Held (1)

Positions Held

1978 – present, Professor, Haas School of Business 2016 – present, Member, Financial Economists Roundtable 2014 – 2016, Member, Board of Directors, VirtualBeam, Inc. 2012 – present, Member, Board of Directors, Finance Scholars Group 2012 – 2015, Chair, Economic Analysis and Policy Group, Haas School of Business 2003 – present, Fellow, Wharton Financial Institutions Center 1999 – 2001, Chief Economist, Office of the Comptroller of the Currency, Washington, DC 1991 – 1992, Economist, Federal Reserve Board 1990 – 1991, Senior Economist, President’s Council of Economic Advisers

Media Appearances (15)

Slight decrease in California unemployment claims as numbers rise nationwide

KTVU  online


From April to June, the U.S. economy shrank by a shocking 33 percent annualized, said Prof. Jim Wilcox. "We've never seen such a sudden, huge drop like this in a single quarter," he said.

view more

KPIX Investigation Reveals Paycheck Protection Program Is Vulnerable To Fraud

KPIX5 CBS  online


An investigation on PPP loans finds that some went out to businesses with major red flags and some to businesses that don't even exist. "One of the rules of the PPP program is you can only get one loan," said Prof. James Wilcox. "So if you see multiple loans under the PPP program going to what looks like one source, this would certainly get your attention and be a reason to investigate."

view more

GOP outlines priorities for next coronavirus relief bill

KTVU Fox 2  online


A bill that offers help to local governments as well as businesses is crucial, said Prof. James Wilcox. "What we really want to prevent is either households or businesses, or even state or local governments, from tumbling into such serious financial trouble that they're effectively bankrupt," he said.

view more

Congress faces pressure to deal with ‘roller coaster recovery’ amid pandemic

Politico  online


Any hope that California’s recovery would be quick has fizzled as the pandemic numbers worsen and the brief psychological and economic lift of reopening has passed, said Prof. James Wilcox. Even for the businesses that have made it through so far, "there’s a limit to how many months they can survive without operating at some reasonable level."

view more

Anger over PPP greed is justified. It also might not matter as much as the results

The Tacoma News Tribune  online


According to James A. WIlcox, an economics professor at the University of California Berkeley Haas School of Business, the speed with which the federal Small Business Administration started administering PPP loans was “astounding.”

view more

Almost 1 in 6 Californian workers is unemployed

San Francisco Chronicle  online


Federal money distributed through the Paycheck Protection Program is expected to run out soon. "If it doesn’t run out this month, it will run out next month," Prof. James Wilcox said of the federal loan fund. "How many of those people get dumped on unemployment we just don’t really know."

view more

Investors Largely Tune Out Jobs Report but Dow Closes on a Low

Courthouse News  online


Unemployment numbers continue to weigh down the economy, but the data is harder to interpret than usual. "In a lockdown, how many people are actually looking for jobs or can look for jobs?" asked Prof. James Wilcox. He added that he expects the unemployment rate to come down "maddeningly slowly" in the coming months.

view more

Coronavirus Pandemic: Uncertainty over kickstarting the economy after COVID-19

ABC7  online


"This is a huge, huge blow. This is the worst economic calamity to hit our economy," said Dr. James Wilcox, an economist and professor at UC's Haas School of Business.

view more

UC Berkeley professor talks unemployment

KTVU Fox 2  online


Prof. James Wilcox said in this interview that the pandemic is the worse economic calamity our economy has experienced, and it won't go away just because some shops are reopening. "Until we're more confident about being around a lot of other people, it's going to be very difficult to get the kind of robust consumer spending and even business investment spending that we're going to need to revive this economy," he said.

view more

California’s Closed, Texas Open and States Go Their Own Way

Bloomberg  online


“What we’re seeing is different circumstances in different states, and also different attitudes in different states,” said Jim Wilcox, a professor of economic analysis and policy from the University of California’s Haas School of Business. “This is not terribly surprising to see 50 different flowers blooming here.”

view more

5.2 million new unemployment claims as federal coronavirus money starts flowing

San Francisco Chronicle  online


Prof. James Wilcox said a federal add-on to state unemployment may lead some employers to lay off employees that they were holding onto. "The law made unemployment checks much larger, in some cases even larger than what people’s paychecks might have been," Wilcox said. "All of a sudden we’re seeing more layoffs."

view more

The economic fallout of shelter-in-place orders

KTVU  online


Prof. James Wilcox said speed is essential when it comes to government aid. "We probably have started into a recession at this point—a lot of economic repercussions haven't really begun yet," he said.

view more

Speed counts on coronavirus economic rescue, says Prof. James Wilcox

UC Berkeley News  online


Former Fed Economist and Prof. James Wilcox is a longtime observer of federal fiscal policy, monetary policy, and the economy. A professor of finance and economic analysis and policy, Wilcox served as a senior economist on the President’s Council of Economic Advisors from 1990 to 1991, as an economist with the Federal Reserve from 1991 to 1992, and as chief economist for the Office of the Comptroller of the Currency from 1999 to 2001. His research focuses on small business lending, banking, and consumer spending.

view more

Will rate cuts stave off a U.S. recession?

Fox KTVU  online


The impact of the coronavirus on the stock market may trigger a recession. "There are very certainly darkening clouds that have now come over the economy," said Finance Prof. James Wilcox. The Fed interest cuts probably aren't enough to fend it off, he added.

view more

Stocks drop over coronavirus concerns; worst week on Wall Street since 2008 recession

KTVU  online


Prof. James Wilcox on a potential Fed rate move in response to coronavirus: "If it's really the case that both businesses and ordinary households are deciding to sit tight and not spend, I really doubt a 1% drop in interest rates is going to help a lot."

view more

Selected Papers & Publications (5)

Government Guarantees of Loans to Small Businesses: Effects on Banks’ Risk-Taking and Non-Guaranteed Lending

Journal of Financial Intermediation

James A.Wilcox, Yukihiro Yasuda


view more

The Home Purchase Sentiment Index: A New Housing Indicator

Business Economics

James A. Wilcox


view more

Regime Shifts in Real Estate Markets: Time-Varying Effects of the U.S. and Japanese Economies on House Prices in Hawaii

Real Estate Economics

James A. Wilcox, John R. Krainer.


view more

A Way to Make People Buy Homes Again

The New York Times

James A. Wilcox


view more

Underwriting, Mortgage Lending, and House Prices: 1996 – 2008

Business Economics,

James A. Wilcox


view more

Teaching (1)