Peter Formuzis, Ph.D.


  • Economist and Principal in Formuzis, Hunt and Lanning, Inc.
  • Professor of Economics Emeritus, California State University, Fullerton


  • B.A., Economics: Washington State University, 1963
  • Ph.D., Economics: Michigan State University, 1969


  • A Deposit Run Model of Member Bank Borrowing


  • Monetary Economics, Macroeconomics, and Law and Economics


  • Economic Consultant, Formuzis, Hunt and Lanning, Inc., 1982 – present
  • Associate Professor and Professor of Economics, California State University, Fullerton, 1976-1991
  • Director of Graduate Program in Economics, California State University, Fullerton, 1976-1979
  • Associate Professor and Chairman, Department of Economics, University of Montana,1967-1976
  • Visiting Professor of Economics, University of Wyoming, 1974-1975
  • Executive Committee, Western Economic Association. Elected Member, 1973-1976
  • Visiting Professor of Economics and Research Economist, Board of Governors of the Federal Reserve
  • System, Washington, D.C., 1969-1970
  • Economic Advisor, Board of Directors of the Federal Reserve Bank of Minneapolis, 1972-1976
  • Visiting Summer Scholar, Federal Reserve Bank of Minneapolis, 1968
  • Consultant: Montana State Board of Equalization
  • Montana Highway Commission
  • Montana Bancorporation
  • Los Angeles County Wide Planning Commission El Camino Bank
  • Law firms since 1973


  • American Economic Association
  • Western Economic Association
  • National Association of Forensic Economists; Vice President


  • “Demand for Money in Canada,” Canadian Journal of Economics,1968
  • “State Income Taxes and Sales Taxes,” Montana Business Quarterly, 1968
  • “The Solution of Qualitative Comparative Static Problems,” Quarterly Journal of Economics, November 1970
  • “A Deposit Run Model of Member Bank Borrowing,” Journal of Finance, 1971
  • “Demand for Euro-Dollars and the Optimum Stock of Bank Liabilities,” Journal of Money, Credit and Banking, 1973
  • “Bank Capital: The Deposit-Protection Incentive,” Journal of Bank Research, 1976
  • “Inflation and the Valuation of Future Economic Losses,” Montana Law Review, Summer 1977
  • “How Likely is a Return to Price Stability,” Los Angeles Business and Economics, Fall 1978
  • “Inflation, Progressivity and State Income Tax Revenues and Expenditures,” Policy Studies Journal, Autumn 1980. Reprinted in Taxing and Spending Policy, Samuels and Wade, Eds., Lexington Books 1980.
  • “The Present Value of Economic Loss: A Readers Guide to Jones & Laughlin v. Pfeifer,” (Joyce Pickersgill, co-author), Trial, February 1985.
  • “Converting Present Value Awards Into Periodic Payments”, (Joyce Pickersgill, co-author), Journal of Forensic Economics, August 1989.
  • “Term-to-Maturity and the Discount Rate”, The Earnings Analyst, Volume 15, 2016.


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Tamorah Hunt, MBA, Ph.D.