Program Directors
Ralph S. J. Koijen is the AQR Capital Management Professor of Finance at the University of Chicago Booth School of Business. His research focuses on finance, insurance, and macroeconomics. He has been an NBER affiliate since 2010.
Sydney C. Ludvigson is the Julius Silver, Roslyn S. Silver, and Enid Silver Winslow Professor of Economics at New York University. Her research focuses on the interplay between asset markets and macroeconomic activity. She has been an NBER affiliate since 2003.
Featured Program Content
Between 2019 and 2022, the share of index funds with an environmental, social, and governance (ESG) mandate nearly doubled, from 3 percent to 5 percent....
Nominal fixed-income securities such as bonds do not protect investors against unexpected inflation. In addition to inflation eroding the purchasing...
In Machine-Learning the Skill of Mutual Fund Managers (NBER Working Paper 29723) Ron Kaniel, Zihan Lin, Markus Pelger, and Stijn Van Nieuwerburgh use a...