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George G. Pennacchi

Professor Emeritus of Finance · University of Illinois Urbana-Champaign

Professor Emeritus of Finance at the Gies College of Business, University of Illinois Urbana-Champaign, holding the Fred S. Bailey Memorial Chair in Finance. His research fields are financial institutions, derivative securities and bond markets.

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Published Journal of Money, Credit and Banking Online 26 Nov 2025 Published Dec 2025

The Effects of an Aging Population on the Structure of Bank Assets and Liabilities

Panagiotis Avramidis · George G. Pennacchi

Using 2001-2022 annual data on U.S. commercial and savings banks matched with county-level demographic data, this paper shows that banks operating in areas with older populations—measured by the …

Banking Credit Demographics Deposit Markets Monetary Policy Transmission Free Read ↗