University of Vermont

The College of Arts and Sciences

Department of Economics

Faculty - Jane Knodell

Photograph of Professor Knodell

Professor

  • Ph.D., Economics, Stanford University, 1984
  • CV (PDF)
Area of expertise

Macroeconomics, money & banking and U.S. economic history.

Contact Information
Email: jane.knodell@uvm.edu
Phone: 802-656-0189
Office Location: 336 Old Mill
Office Hours: MWF, 3:00-4:00 p.m. or by appointment

Dr. Knodell's research and teaching interests are in the fields of money and banking, macroeconomics, and economics history. Her research applies the tools of economic history, institutional analysis, and monetary economics to understanding the evolution and performance of monetary institutions over time.

Her current research centers on the monetary history of the U.S. between the demise of the Second Bank of the United States in the mid-1830s and the creation of the national banking system in the mid-1860s. One new paper uses a network approach to compare the payments services provided by chartered and private (unincorporated) banks. A second paper seeks to explain the reasons for the resurgence of metallic currency (and decline of paper money) between 1840 and 1860, contrary to expected patterns of monetary development.

Recent Publications

"The role of private banks in the U.S. payments system, 1835-1865," Financial History Review, vol. 17, part 2, October 2010, pp. 239-262.

Heterodox Analysis of Financial Crisis and Reform (written with Joelle LeClaire and Tae-Hee Jo) (Edward Elgar Publishing, 2011). Description

"Money endogeneity before central banking," in B. Moore and L.-P. Rochon (eds.), Post Keynesian Monetary Theory: Reflections and Development (Cheltenham: Edward Elgar), forthcoming.

"Rethinking the Jacksonian Economy: The Impact of the 1832 Bank Veto on Commercial Banking." The Journal of Economic History, September 2006, pp. 541-574

"Central Banking in Early Industrialization," in Marc Lavoie and Mario Seccareccia (eds.) Central Banking in the Modern World: Alternative Perspectives (Cheltenham: Edward Elgar), 2004, pp. 262-281

"Profit and Duty in the Second Bank of the United States' Exchange Operations." Financial History Review, vol. 10, no. 1 (April 2003), pp. 5-30

"The Demise of Central Banking and the Domestic Exchanges: Evidence from Antebellum Ohio." The Journal of Economic History, vol 58, no. 3, September 1998, pp. 714-730

Work in progress

"Central banking and monetary nation-building in the early U.S., 1781-1834." Presented at the Banque de France conference on The Central Banks, the Nation and the States, March 2012.

"Shifting shares of hard and soft money in the 19th century U.S." An explanation of the shifting shares of hard and soft money in holdings of money held outside the banking system between 1820 and 1865 based on relative costs of certifying the "goodness" of the two kinds of payments instruments.

Administrative Services

  • Provost and Senior Vice President, December 2010-Present
  • Interim Provost and Senior Vice President, August 2009-December 2010
  • Associate Provost for Budget and Capital Planning, July 2008-June 2009
  • Special Assistant to the Provost, March-December 2006, August 2007-June 2008
  • Interim Dean, College of Arts & Sciences, September 2004-August 2005
  • Associate Dean, College of Arts & Sciences, August 2003-September 2004
  • Chair, Department of Economics, July 2001-June 2003