Tom Miller Jr., PhD

Publications

Book

• Fundamentals of Investments, 10e. McGraw-Hill. 2023
• How Do Small-Dollar Nonbank Loans Work?. Arlington, VA, United States: Mercatus Center. 2019
• Trophy Man: A Junior Golfer's Inside Out Guide for Building Their Own Success Story. 2014
• Fundamentals of Investments, 7th Edition. McGraw-Hill. 2014
• Castles Made of Sand: An Inside Out Guide to Parenting Junior Golfers. Publisher. 2013
• Fundamentals of Investments. McGraw-Hill. 2010

Book, Chapter

• Examining Arguments Made by Interest Rate Cap Advocates . Reframing Financial Regulation: Enhancing Stability and Protecting Consumers. 2016

Exposition

• How Do Credit Scores Work. The Conversation. Page 1. 2023

Handout for State Legislators and Congress

• State Laws Can Give Consumers More Loan Choices. Consumers' Research. Page 2. 2020

Journal Article

• Credit for Me, but not for Thee: The Effects of the Illinois Rate Cap. Public Choice. 2023
• The Cost of Rate Caps: Evidence from Arkansas. Journal of Financial Research. Volume 45, Issue 4, Page 28. 2022
• Mutual Fund Performance Components: An Application to Asset Allocation Mutual Funds. Applied Economics. Page 16. 2021
• Do Consumers Need More Protection from Small-Dollar Lenders? Historical Evidence and a Road Map for Future Research. Economic Inquiry. Volume 58, Issue 4, Page 36. 2020
• Evaluating the Spatial Consequence of Interest Rate Ceiling Using a Spatial Regime Change Approach. The American Economist, SAGE Journals. Page 15. 2018
• Data obtained with a novel approach to estimate installment loan acquisition costs. Data in Brief. Volume 18, Pages 1257-1266. 2018
• Differences in Consumer Credit Choices Made by Banked and Unbanked Mississippians. Journal of Law, Economics, and Policy. 2015
• An Intra-Week Efficiency Analysis of Bookie-Quoted NFL Betting Lines in NYC . Journal of Empirical Finance. Volume 24, Issue December 2013, Pages 10-23. 2013
• "Benchmarking the Performance of Recommended Allocations to Equities, Bonds, and Cash by International Investment Houses". Journal of Empirical Finance. Volume 15, Issue 3, Pages pp. 363-382. 2008
• "Estimating Expected Excess Returns Using Historical and Option-Implied Volatility". Journal of Financial Research. Volume 29, Issue 1, Pages pp. 95-112. 2006

On-Line

• Poverty and Payday Lending in Mississippi. The Bridge, Mercatus Center. 2018

Opinion

• The CFPB's Arbitrary Attacks on Payday Loans. Wall Street Journal. 2022
• Will Biden's CFPB Nominee Run a Research-Focused Agency?. Real Clear Policy. 2021
• Interest Rate Caps Harm Consumers. The Hill. Page 1.
• The Wrong Kicks on Route 36. Real Clear Policy. Page 1. 2020
• Righting a Flawed Payday Loan Rule. Real Clear Policy. 2019
• 0%: The Correct Corporate Tax Rate. The Hill. 2018

Opinion

• Student-Athletes Deserve 10-Year Scholarships. Wall Street Journal. 2021
• Slow the Roll in the Student-Loan Market. National Review. Page 1. 2020

Opinion Article

• Why Do Lawmakers Ignore Evidence When They Make Laws?. 2023
• Predatory Loan Prevention Act Hurts Borrowers it Set out to Protect. Chicago Sun-Times. Page 1. 2023
• Interest Rate Caps Make Loans Less Available to Subprime Borrowers. American Banker. Page 1. 2023
• It's Time to Do Right by the Student-Athletes who Entertain Us. Real Clear Policy. 2022

Outreach Publication

• Jazzing Up the Finance World. College of Business, Mississippi State University. Page 3. 2020

Textbook

• Fundamentals of Investments: Valuation and Management, 9th Ed.. McGraw Hill. 2020

Trade Journal/Magazine

• Are Credit Cards Becoming Obsolete? No. The Wall Street Journal. 2018

Presentations

• "Access to Being a Leader." Tower Loan University, First Tower, Starkville, MS. 2017
• "The Small Dollar Loan Landscape." The National Organization of Black Elected Legislative/, National Installment Loan Association, Biloxi, MS. 2014

Lecture

• "Financial Economics and Valuation." Advanced Economics Institute for Judges, Law and Economics Center, George Mason University, Park City, UT. 2017
• "The Effects of a 36 Percent APR Cap on Borrowers Who Use Small Dollar Loans." American Legislative Economic Council Conference, American Legislative Economic Council , Indianapolis, IN. 2016
• "Toldays Effects of a 36 Percent APR Cap." Joint State Government Affairs and Legal Issues Forum, NACCA / AFSA, Minneapolis, MS. 2016
• "Recent Research on the Economics of Consumer Credit and its Regulation." Sixth Annual Public Policy Institute of Financial Services Regulation, Law and Economics Center, Antonin Scalia Law School, George Mason University, Arlington, VA. 2016
• "Reflections on the 100th Anniversary of the Uniform Small Loan Law." Sixth Annual Public Policy Institute on Financial Services Regulation, Law and Economics Center, Antonin Scalia Law School, George Mason Law School, Arlington, VA. 2016
• "Free Markets Lessons From the Small Dollar Loan Space." On the Horizon, nonPrime 101, Clarity Services, Tampa, FL. 2016
• "The Small Dollar Loan Landscape." Financial Markets Regulation Symposium, Institute for Humane Studies, George Mason University, San Francisco, CA. 2016
• "Access to Being a Leader." Tower Loan University, First Tower, Starkville, MS. 2016
• "The Small Dollar Loan Landscape." Financial Markets Regulation, Institute for Humane Studies and Mercatus Center at George Mason University, San Francisco, CA. 2016
• "Is 36% APR Truly Effective Legislation?." National Black Caucus of State Legislators, National Installment Lending Association, Los Angeles, CA. 2015
• "Leadership." Tower Loan Leadership Summit, First Tower , Jackson, MS. 2015
• "Small Dollar Loan Landscape." Mercatus Center Lecture Series, Mercatus Center at George Mason University, Arlington, VA. 2015
• "Bias: Words and Worldviews Matter." National Organization of Black Elected Legislators, National Installment Lending Association, San Diego, CA. 2015
• "Small Dollar Loans." Guest Speaker, ECON 3513, Mississippi State University, , Starkville, MS. 2014
• "Interest Rate Caps." Luncheon for U.S. Congressional Staff Members and Senate Banking Committee Staff Members, Mercatus Center, Washington, DC. 2014
• "The Future of Small Dollar Credit." 16TH AFSA State Government Affairs and Legal Issues Forum, American Financial Services Association, Albuquerque, NM. 2014
• "Two Presentations: Bias; How to Make a Presentation." Tower Loan University, Tower Loan, Starkville, MS. 2014
• "Consumer Credit Options:Comparing Payday Loans and Installment Loans." National Caucus of Black State Legislators, National Installment Lenders Association, Memphis, TN. 2013
• "The Differences Between an Installment Loan and a Payday Loan." Symposium on Faith and Economic Empowerment , National Baptist Convention USA, St. Louis, MO. 2013
• "Two Presentations: Bias; How to Make a Presentation." Tower Loan University, Tower Loan, Starkville, MS. 2012

Oral Presentation

• "The Effects of the 36% Interest Rate Cap on Illinois Consumer." Kennedy Caucus Room, Consumers' Research, Washington, DC. 2023
• "Credit for Me but not for Thee: The Effects of the 36% All-In Rate Cap on Illinois Consumersr." Southern Legislative Conference, AFSA, Charleston, SC. 2023
• "The Perverse Effects on Consumers from the 36% All-In Rate Cap in Illinois." House Financial Services, American Consumer Institute, Washington, DC. 2023
• "A Discussion on Interest Rate Caps." CFPB, Academic Research Council, Consumer Financial Protection Bureau, Washington, DC. 2019
• "How do Small-Dollar Nonbank Loans Work?." Money Trends, FISCA, Financial Service Centers of America, Miami, FL. 2019
• "Advancing Economic Opportunity through Regulatory Reform." Center for Growth and Opportunity, Utah State University, Utah State University, Logan, UT. 2019
• "The Effects of Interest Rate Caps." LEND360, OLA, Online Lenders Association, Dallas, TX. 2019
• "Small Dollar Loans. What are They Good For?." APEE, Association of Private Enterprise Education, Nassau, Bahamas. 2019
• "Affordable Small Dollar Credit." Law and Compliance Symposium, AFSA, American Financial Services Association, Fort Lauderdale, FL. 2019
• "Panel Discussion." (Re)Defining Consumer Protection in American, Consumer's Research, U.S. Capitol Visitor Center. 2018
• "Issues Along the Small-Dollar Loan Landscape." Annual Meeting, Southern Finance Association, Asheville, NC. 2018
• "Some Information on the Non-bank Supplied Small Dollar Loan Landscape." United States Department of the Treasury, United States Department of the Treasury, Washington, D.C.. 2018
• "A Natural Experiment to Measure the Effects of a Binding Interest Rate Cap." Southern Finance Association, Southern Finance Association, Key West, FL. 2017
• "Careers in Finance." Municipal Forum of New York's Urban Leadership Fellows, Municipal Forum of New York's Urban Leadership Fellows, Washington, DC. 2017
• "The Effects on Consumers from State-Imposed Regulations on the Payday Loan Market ." APEE, APEE, Maui, HI. 2017
• "Careers in Finance." Municipal Forum of New York's Urban Leadership Fellows, Municipal Forum of New York's Urban Leadership Fellows, Washington, DC. 2016
• "The Current Regulatory Environment." National Installment Lenders Association Conference, National Installment Lenders Association, Washington, DC. 2016
• "The Harmful Nature of a 36% Interest Rate Cap." Staffers, Senator Thad Cochran's Office, Mercatus Center, Senate Office Building, Washington, DC. 2015

Other

• "Effects of Interest Rate Caps on Consumer Access to Credit in Illinois." Press Conference, American Consumer Institute, Washington, DC. 2023
• "A Close Look at the Recent Study of the Effects of Illinois’ 36% “all-In” Interest Rate Cap on Small-Dollar Credit availability." Consumer Finance Monitor Podcast, Ballard-Spahr, Home Studio. 2023
• "Financing Innovation and Economic Growth." Financing the Future: The Role of Financial System in Fostering Economic Growth , Mercatus Center, Washington DC. 2015

Paper

• "Can Traders Capture Time Decay by Writing Short-Dated Options?." Financial Management Association European Conference, FMA, Aalborg, Denmark. 2023
• "The Divergent Effects of the 36% Interest Rate Cap on Illinois Consumers." OLA LendSuite Conference, OLA, Naples, FL. 2023
• "Differing Effects (and More Differing Effects) of the 36% All-In Rate Cap on Illinois Consumers." AFSA Independents Conference, Break-Out Session, AFSA, Las Vegas, NV. 2023
• "Effects (and More Effects) of the 36% Interest Rate Cap on Illinois Consumers." AFSA Independents Conference, State Legislative Committee, AFSA, Las Vegas, NV. 2023
• "More Effects of the 36% Interest Rate Cap on Illinois Consumers." Association of Private Enterprise Education, APEE, Cancun, Mexico. 2023
• "The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market." Southern Finance Association, , Virtual. 2020
• "The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market." , Scalia Law School, George Mason University, . 2020
• "Empirical Tests of State-Imposed Regulation of the Payday Loan Market." DeVoe L. Moore Center, Florida State University, Florida State University, Tallahassee, FL. 2019
• "A Review of Current Studies and Some Remaining Research Questions in Four Small-Dollar Credit Markets." Consumer Protection Economics Symposium, Federal Trade Commission, Washington, D.C.. 2018
• "International evidence on the impact of macroprudential policies on systemic risk ." Southern Finance Association Meeting, SFA, Asheville, NC. 2018
• "International evidence on the impact of macroprudential policies on systemic risk ." Financial Management Association, FMA, San Diego, CA. 2018
• "Some Consequences of the Binding Interest Rate Cap in the State of Arkansas." Consumer Credit Symposium, Mississippi State University, Starkville, MS. 2016
• "The Consequences of the Constitutional Interest Rate Cap in the State of Arkansas." Cato Institute, Washington DC, Cato Institute, Washington, DC. 2015
• "Consumer Credit Choices for Banked and Unbanked Mississippians." Eleventh Annual Symposium of the Journal of Law, Economics, and Policy: A Symposium on Consumer Credit and the American Economy, Law and Economics Center, George Mason University, Arlington, VA. 2014
• "The Performance of Options-Based Investment Strategies: Evidence for Individual Stocks During 2003-2013." Louisiana State University, Department of Finance, , Louisiana State University. 2014
• "The Consequences of the Constitutional Interest Rate Cap in the State of Arkansas." Mercatus Center Seminar Series, Mercatus Center, Arlington, VA. 2014
• "The Effects of Public versus Private Ownership on Foreclosure Liquidation." AREUEA National Conference, American Real Estate and Urban Economics Association, Washington, DC. 2014
• "The Effects of Public versus Private Ownership on Forclosure Liquidation." Mercatus Center Seminar Series, Mercatus Center, Arlington, VA. 2014
• "The Consequences of the Constitutional Interest Rate Cap in the State of Arkansas." APEE Annual Mieeting, Association of Private Enterprise Education, Las Vegas, NV. 2014
• "A Survey of Mississippians Regarding Some Aspects of Consumer Credit." Annual Meeting, The Association of Private Enterprise Education, Maui. 2013
• "Separating Portfolio Performance into Opportunity, Foresight, and Active Management Risk." Department of Agricultural Economics, Mississippi State University, Mississippi State, MS. 2011
• "The Performance of Value Line Option Recommendations." Department of Finance, University of Notre Dame, South Bend, Indiana. 2009
• "Measuring the Effects of Foresight, Commitment, and Opportunity on Portfolio Performance." Department of Finance, University of Louisville, Louisville, KY. 2009
• "Measuring the Effects of Foresight, Commitment, and Opportunity on Portfolio Performance." Department of Finance, University of Mississippi, Oxford, MS. 2009
• "The Effects of Foresight and Commitment on Portfolio Performance." Department of Finance and Economics, Mississippi State University, Mississippi State, MS. 2008

Short Course

• "Financial Economics." Twelfth Annual Meeting of the American College of Business Court Judges, Law and Economics Center, George Mason University, Atlanta, GA. 2016

CV