Photo of Nicholas S. Souleles

Nicholas S. Souleles

Michael L. Tarnopol Professor

Professor of Finance

Research Interests: applied econometrics, finance, and macroeconomics, household finance: household consumption, saving/borrowing, and investments

Links: Personal Website

Contact Information

Address: 2311 Steinberg-Dietrich Hall, 3620 Locust Walk, Philadelphia, PA 19104
Email: souleles@wharton.upenn.edu
Office: (215) 898-9466

Overview

Education

PhD, Massachusetts Institute of Technology, 1995; BA, University of Oxford, 1991; BSE, Princeton University, 1988

Recent Teaching and Professional Awards

Christian R. and Mary F. Lindback Teaching Award (University of Pennsylvania), 2006; David W. Hauck Undergraduate Teaching Award (Wharton), 2004; Marc and Sheri Rapaport Undergraduate Core Teaching Award (Wharton), 1997, 2003, 2007, 2011; Undergraduate Excellence in Teaching Award (Wharton), 2004, 2005, 2008; MBA Core Curriculum Teaching Award, 1998, 1999, 2000

Academic Positions Held

Wharton: 1995-present (named Michael L. Tarnopol Professor, 2008; named Michael L. Tarnopol Associate Professor, 2007-08; named Gilbert and Shelly Harrison Term Assistant Professor of Finance, 2000-2002)

Other Positions

National Bureau of Economic Research, 2001-present; Visiting Scholar, Federal Reserve Bank of Philadelphia, 2002-; Co-director, NBER Working Group on Household Finance, 2009-; Co-editor, SSRN Household Finance eJournal, 2010-;

Research


  • Ronel Elul, Nicholas S. Souleles, Souphala Chomsisengphet, Dennis Glennon, Robert Hunt (Forthcoming), What 'Triggers' Mortgage Default?, AER P&P, forthcoming
  • Todd Sinai, Nicholas S. Souleles (2013), Can Owning a Home Hedge the Risk of Moving, American Economic Journal: Economic Policy, 5 (2), 282 - 312.    Abstract
  • Jonathan A. Parker, Nicholas S. Souleles, David S. Johnson, Robert McClelland (Working), Consumer Spending and the Economic Stimulus Payments of 2008.  Abstract
  • Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu, Nicholas S. Souleles (Working), Benefits of Relationship Banking: Evidence from Consumer Credit Markets.  Abstract
  • Sumit Agarwal, Souphala Chomsisengphet, Chunlin Liu, Nicholas S. Souleles (Working), Do Consumers Choose the Right Credit Contracts?.  Abstract
  • Nicholas S. Souleles, Sumit Agarwal, Chunlin Liu (2007), The Reaction of Consumer Spending and Debt to Tax Rebates – Evidence from Consumer Credit Data, Journal of Political Economy, 115(6).
  • David S. Johnson, Jonathan A. Parker, Nicholas S. Souleles (2006), Household Expenditure and the Income Tax Rebates of 2001, American Economic Review, 96 (5).  Abstract
  • David Musto, Nicholas S. Souleles (2006), A Portfolio View of Consumer Credit, Journal of Monetary Economics, 53 (1), 59 - 84.  Abstract
  • Gary B Gorton, Nicholas S. Souleles (2006), Special Purpose Vehicles and Securitization, The Risks of Financial Institutions, Eds. Carey, M., and Stulz, R., Chicago: University of Chicago Press for the NBER, 2006.  Abstract
  • Todd Sinai, Nicholas S. Souleles (2005), Owner Occupied Housing as a Hedge Against Rent Risk, Quarterly Journal of Economics, 120 (2), 763 - 789.  Abstract
  • David B. Gross, Nicholas S. Souleles (2002), An Empirical Analysis of Personal Bankruptcy and Delinquency, Review of Financial Studies, 15 (1).  Abstract
  • David B. Gross, Nicholas S. Souleles (2002), Do Liquidity Constraints and Interest Rates Matter for Consumer Behavior? Evidence from Credit Card Data, Quarterly Journal of Economics, 117 (1).  Abstract

In The News

Knowledge @ Wharton

Courses

Current

  • FNCE101 - Monetary Economics and the Global Economy

    This is an intermediate-level course in macroeconomics and the global economy, including topics in monetary and international economics. The goal is to provide a unified framework for understanding macroeconomic events and policy, which govern the global economic environment of business. The course analyzes the determinants and behavior of employment, production, demand and profits; inflation, interest rates, asset prices, and wages; exchange rates and international flows of goods and assets; including the interaction of the real economy with monetary policy and the financial system. The analysis is applied to current events, both in the US and abroad. During the spring semester there are honors sections of FNCE 101 offered. The seats in the honors sections are awarded through an application process. Please go to https://fnce.wharton.upenn.edu/programs/course-applications/ for additional information.

    FNCE101302  ( Syllabus

    FNCE101303  ( Syllabus

    FNCE101304  ( Syllabus

Previous

  • FNCE101 - Monetary Economics and the Global Economy

    This is an intermediate-level course in macroeconomics and the global economy, including topics in monetary and international economics. The goal is to provide a unified framework for understanding macroeconomic events and policy, which govern the global economic environment of business. The course analyzes the determinants and behavior of employment, production, demand and profits; inflation, interest rates, asset prices, and wages; exchange rates and international flows of goods and assets; including the interaction of the real economy with monetary policy and the financial system. The analysis is applied to current events, both in the US and abroad. During the spring semester there are honors sections of FNCE 101 offered. The seats in the honors sections are awarded through an application process. Please go to https://fnce.wharton.upenn.edu/programs/course-applications/ for additional information.