Russell Kashian Professor

Russell Kashian


  • Ph.D., Economics, University of Wisconsin-Milwaukee, August 1999
  • M.A., Economics, University of Wisconsin-Milwaukee, December 1994
  • M.S., Urban Studies, Levin College of Urban Affairs: Cleveland State University, May 1992
  • B.A., University of Wisconsin-Madison, May 1983


Russell Kashian, Ph.D., is a Professor of Economics as well as the co-founder and the Director of the Fiscal and Economic Research Center (FERC) at the University of Wisconsin Whitewater.  Under his guidance, the FERC has attracted over $450,000 in contracts with local nonprofit organizations, governmental units and businesses.  Additionally, his involvement in the University extends to the University of Wisconsin Extension where he serves as a Specialist.

Dr. Kashian has conducted extensive research in financial institutions, with a special focus on the regional sector and regional planning. This includes financial intermediaries (credit unions, community banks and minority owned banks), tourism, and economic development.  Further, Dr. Kashian recently received a $400,000 W.H. Kellogg Foundation grant to study the best practices in involving young men of color in the traditional banking sector.  This research aligns with his earlier research on fees and interest rates offered by minority owned banks, the clustering of minority owned banks and the competitiveness of credit unions.  He has been published in The Review of Black Political Economy, Applied Economics, the Journal of Applied Statistics, Economic Notes, The Journal of Economic Studies, Managerial Finance, Federal Reserve Bank of Boston Communities & Banking and Contemporary Economic Policy.

Dovetailing with his interest in local communities, Dr. Kashian’s research is focused on the regional distribution and economic impact of the Wisconsin Real Estate Market.  The results from his research have provided data regarding foreclosures in Wisconsin at a disaggregated house-by-house level from 2000 to 2015.  This output has been published in Industrial Geographer and the Journal of Regional Analysis and Policy.  He has also written on the real estate bubble in the International Research Journal of Applied Finance, Journal of Real Estate Practice and Education, and the Journal of Regional Analysis and Policy.  He has also published his academic finding regarding the economic impact of Tax Increment Financing in journals such as Real Estate Economics, Regional Science and Urban Economics, and Land Economics

Dr. Kashian’s teaching experience includes Principles of Microeconomics (Econ 201) (both traditional and online courses), Urban Regional and Transport Economics (Econ 438), and Money & Banking (Econ 354).

Recent Publications:

“Are there interregional differences in the response of cigarette smoking to state cigarette excise taxes in the USA?  Exploratory analysis” (with   Richard Cebula and Fiorentina Angjellari-Dajcia).  Journal of Applied Statistics, Forthcoming.

“Measuring X-Efficiency in NCAA Division III Athletics” (with Jeff Pagel).  Journal of Sports Economics, Forthcoming.

 “Off-balance Sheet Activities and Community Bank Performance" (with Nancy Tao).  Journal of Economic Studies, Vol 41, 2014 pp 789-807.

"Do Minority-owned Banks Pay Higher Interest Rates on CDs?"  (with Richard McGregory and Neil Lockwood).  The Review of Black Political Economy, Vol 41, 2014 pp 13-24.