1. Home
  2. Economic Research
  3. Meet the Economists

Meet the Economists

Photo of Travis D. Nesmith

Travis D. Nesmith

Assistant Director Chief, Quantitative Risk Analysis Section Reserve Bank Operations and Payment Systems
202-452-2907
travis.d.nesmith@frb.gov

Education

  • Ph.D., Economics, Washington University in St. Louis, 2000
  • M.A., Economics, Washington University in St. Louis, 1995
  • A.B., Economics/Political Science, Duke University, 1990
Current Research Topics
  • Central Counterparties
  • Quantitative Finance and Risk Management
  • Assistant Director

    Board of Governors of the Federal Reserve System

    2016 - present
  • Section Chief

    Board of Governors of the Federal Reserve System

    2013 - present
  • Senior Economist

    Board of Governors of the Federal Reserve System

    2009 - 2012
  • Economist

    Board of Governors of the Federal Reserve System

    1999 - 2009
  • Economist

    Bureau of Labor Statistics

    1998 - 1999
  • Visiting Scholar

    Federal Reserve Bank of St. Louis

    1995 - 1998
  • King, Thomas, Travis D. Nesmith, Anna Paulson, and Todd Prono (2020). "Central Clearing and Systemic Liquidity Risk," Finance and Economics Discussion Series 2020-009. Board of Governors of the Federal Reserve System (U.S.).
  • Dobrev, Dobrislav, Travis D. Nesmith, and Dong Hwan Oh (2017). "Accurate Evaluation of Expected Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors," Journal of Risk and Financial Management, vol. 10, no. 1, pp. 1-14.
  • Mills, David C., Jr., and Travis D. Nesmith (2008). "Risk and Concentration in Payment and Securities Settlement Systems," Journal of Monetary Economics, vol. 55, no. 3, pp. 542-553.
  • Nesmith, Travis D., and Barry E. Jones (2008). "Linear Cointegration of Nonlinear Time Series with an Application to Interest Rate Dynamics," Studies in Nonlinear Dynamics and Econometrics, Vol. 12, no. 1, article 6.
  • Nesmith, Travis D. (2007). "Rational Seasonality," in Barnett, William A., Apostolos Serletis eds., International Symposia in Economic Theory and Econometrics, vol. 18. Amsterdam and Boston: Elsevier, pp. 227-255.
  • Nesmith, Travis D., W. A. Barnett, B. E. Jones, M. Pasupathy, and M. Kirova (2005). "The Nonlinear Skeletons in the Closet," in Belongia, M., J. Binner eds., Money, Measurement and Computation. England: Palgrave Macmillan.
  • Barnett, William A., Barry E. Jones, and Travis D. Nesmith (2004). "Time Series Cointegration Tests and Nonlinearity," in Barnett, William,A., Jane Binner eds., Reprint. Functional Structure and Approximation in Econometrics, Vol. 261. Amsterdam; San Diego and Oxford: Elsevier JAI, pp. 549-567.
  • Barnett, William A., Barry E. Jones, and Travis D. Nesmith (2000). "Time Series Cointegration Tests and Non-Linearity," in Barnett, William,A. ed., Nonlinear Econometric Modeling in Time Series: Proceedings of the Eleventh International Symposium in Economic Theory. Cambridge; New York and Melbourne: Cambridge University Press, pp. 9-30.
  • Anderson, Richard G., Barry E. Jones, and Travis D. Nesmith (2000). "Introduction to the St. Louis Monetary Services Index Project," in Barnett, William A., Serletis Apostolos eds., The Theory of Monetary Aggregation. North-Holland: Elsevier Science, pp. 610-616.
  • Anderson, Richard G., Barry E. Jones, and Travis D. Nesmith (1997). "Introduction to the St. Louis Monetary Services Index Project," Federal Reserve Bank of St. Louis Review, vol. 79, no. 1, pp. 25-29.
  • Anderson, Richard G., Barry E. Jones, and Travis D. Nesmith (1997). "Building New Monetary Services Indexes: Concepts, Data and Methods," Federal Reserve Bank of St. Louis Review, vol. 79, no. 1, pp. 53-82.
  • Anderson, Richard G., Barry E. Jones, and Travis D. Nesmith (1997). "Monetary Aggregation Theory and Statistical Index Numbers," Federal Reserve Bank of St. Louis Review, vol. 79, no. 1, pp. 31-51.
  • Barnett, William A., Barry E. Jones, and Travis D. Nesmith (1996). "Divisia Second Moments: An Application of Stochastic Index Number Theory," International Review of Comparative Public Policy, vol. 8.
  • Dobrev, Dobrislav, Travis D. Nesmith, and Dong Hwan Oh (2016). "Accurate Evaluation of Expected Shortfall for Linear Portfolios with Elliptically Distributed Risk Factors," Finance and Economics Discussion Series 2016-065. Board of Governors of the Federal Reserve System (U.S.).
  • Barnett, William A., Barry E. Jones, and Travis D. Nesmith (2008). "Divisia Second Moments: An Application of Stochastic Index Number Theory," Working papers series in theoretical and applied economics 200803. University of Kansas, Department of Economics.
  • Mills, David C., Jr., and Travis D. Nesmith (2007). "Risk and Concentration in Payment and Securities Settlement Systems," Finance and Economics Discussion Series 2007-62. Board of Governors of the Federal Reserve System (U.S.).
  • Jones, Barry E., and Travis D. Nesmith (2007). "Linear Cointegration of Nonlinear Time Series with an Application to Interest Rate Dynamics," Finance and Economics Discussion Series 2007-03. Board of Governors of the Federal Reserve System (U.S.).
  • Nesmith, Travis D. (2007). "Rational Seasonality," Finance and Economics Discussion Series 2007-04. Board of Governors of the Federal Reserve System (U.S.).
  • Nesmith, Travis D. (2005). "Solving Stochastic Money-in-the-Utility-Function Models," Finance and Economics Discussion Series 2005-52. Board of Governors of the Federal Reserve System (U.S.).
  • Barnett, William, Barry Jones, Milka Kirova, Travis Nesmith, and Meenakshi Pasupathy (2004). "The Nonlinear Skeletons in the Closet," Working Papers Series in Theoretical and Applied Economics 200403. University of Kansas, Department of Economics.
  • Jones, Barry E., and Travis D. Nesmith (1999). "Tests for Non-Linear Dynamics in Systems of Non-Stationary Economic Time Series: The Case of Short-Term U.S. Interest Rates," Finance and Economics Discussion Series 1999-55. Board of Governors of the Federal Reserve System (U.S.).
  • Nesmith, Travis Dean (2000). "Aggregation Theory and Statistical Index Numbers," Ph.D. dissertation, Washington University.

  • discussion

    October 2019

    FIA Expo

  • conference

    October 2019

    6th Annual Conference on CCP Risk Management, Federal Reserve Bank of Chicago

  • seminar

    September 2019

    Federal Reserve Bank of Dallas

  • discussion

    October 2018

    FIA Expo, Chicago, IL

  • conference

    July 2018

    FRB Redux of Quantitative Workshop on CCP Risk management, Washington DC

  • conference

    November 2017

    BoE/FRB 1st Quantitative Workshop on CCP Risk and Validation Models, London UK

  • conference

    October 2016

    3rd Annual Conference on CCP Risk Management: A Deep Dive into Margins for Cleared Derivatives, Federal Reserve Bank of Chicago

  • discussion

    October 2016

    PRMIA Workshop: Risks and Opportunities Posed by Changing Market Structures

  • seminar

    December 2015

    Bank of England

  • conference

    July 2015

    Society for Economic Measurement, Paris, FR

  • conference

    July 2015

    Quant Congress USA, Regulatory Keynote Address, NY

  • conference

    March 2015

    Financial Resilience Research Cluster Launch, Univ. of Birmingham, UK

  • conference

    August 2014

    Society for Economic Measurement, Chicago, IL

  • conference

    March 2008

    Risk Symposium, Los Alamos National Laboratory

  • conference

    January 2007

    Policy Workshop on Recent Payments Research, Federal Reserve Bank of New York

  • seminar

    Decemberr 2006

    Workshop on Money and Payments, Federal Reserve Bank of New York

  • conference

    August 2006

    Workshop on Nonlinear Dynamical Methods and Time Series Analysis, University of Udine, Italy

  • seminar

    July 2006

    IMF Departmental Seminar Series, International Monetary Fund

  • conference

    May 2006

    Midwest Macroeconomics Conference, St. Louis, Missouri

  • seminar

    March 2006

    Macro-economics and International Finance Seminar Series, George Washington University

  • conference

    October 2005

    Midwest Economic Theory Conference, University of Kansas

  • seminar

    April 2005

    Oswald Distinguished Seminar Series, University of Kansas

  • conference

    May 2004

    Midwest Macroeconomics Conference, Ames, Iowa

  • conference

    June 2000

    Issues in Measuring Price Change and Consumption Conference, Bureau of Labor Statistics

  • conference

    March 1999

    Society for Nonlinear Dynamics and Econometrics, New York City

  • conference

    April 1998

    Midwest Macroeconomics Conference, St. Louis, Missouri

  • conference

    March 1998

    Midwest Economics Association Conference, Chicago, Illinois

  • seminar

    January 1998

    Washington University Economic Theory Seminar, St. Louis, Missouri

  • conference

    October 1996

    International Atlantic Economic Conference, Washington, D.C.

  • conference

    March 1996

    Missouri Valley Economic Association, Memphis, Tennessee

  • seminar

    February 1996

    Federal Reserve Bank of St. Louis

Awards
  • 2012

    Board of Governors of the Federal Reserve System

    Special Achievement Award

  • 2012

    International Financing Review

    America's Structured Finance Issue of the Year

  • 2010

    RBOPS, Board of Governors of the Federal Reserve System

    Spirit of Excellence Award

Conference Organization

  • March 2020 | Malta

    IOMA: WFE's 37th Clearing & Derivatives Conference

    Scientific Committe

  • July 2018 | Washington, DC

    FRB Redux of Quantitative Workshop on CCP Risk Management

    Workshop Organizer

  • November 2017 | London, UK

    BoE/FRB 1st Quantitative Workshop on CCP Risk and Validation Models

    Workshop Organizer

  • October 2016 | Washington, DC

    PRMIA Workshop: Risks and Opportunities Posed by Changing Market Structures

    Workshop and Session Organizer

  • July 2015 | Paris, France

    Society for Economic Measurement

    Session Organizer: Risk Measurement Partie Deux

  • August 2014 | Chicago, Illinois

    Society for Economic Measurement

    Session Organizer: Risk Measurement

Editor
  • Associate Editor, Macroeconomic Dynamics, July 2020 - Present
  • Associate Editor, Journal of Financial Market Infrastructures, August 2020 - Present
Referee
  • Econometrica
  • Journal of Economic Theory
  • Review of Economic Studies
  • Journal of Econometrics
  • Journal of Monetary Economics
  • Journal of Banking and Finance
  • Macroeconomic Dynamics
  • Mathematical Finance
  • Journal of Money Credit and Banking
  • Journal of Economic Dynamics and Control
  • Journal of Applied Econometrics
  • Journal of Business and Economic Statistics
  • Journal of Mathematical Economics
  • Oxford Economic Papers
  • International Journal of Central Banking
  • Journal of Financial Market Infrastructures
  • Journal of Financial Intermediation
  • Journal of Economics and Business
  • Southern Economic Journal
  • Federal Reserve Bank of New York Economic Policy Review
  • Federal Reserve Bank of St. Louis Review
Professional Affiliation
  • American Economic Society
  • Econometric Society
  • Professional Risk Managers International Association
  • Society for Economic Measurement
Last update: September 14, 2020