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
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...
In September 2021, El Salvador became the first country to make bitcoin legal tender, requiring all businesses to accept the cryptocurrency. In an...
A series of regulatory changes beginning in the mid-1990s reduced firms’ cost of repurchasing their shares and contributed to increases in buybacks...