Nicolas Crouzet
Nicolas Crouzet

Assistant Professor of Finance

Print Overview

Nicolas Crouzet joined the Kellogg School of Management in 2014. He has a B.Sc. in Engineering from Ecole Polytechnique (2008) and a PhD from Columbia University (2014). His interests include business cycle theory, financial frictions and their impact on macroeconomic activity, and corporate finance. His current research focuses on cross-sectional differences in firm cyclicality and their relationship to financing constraints. 

Areas of Expertise
Corporate Finance
Macroeconomics (Includes: Monetary Economics, Federal Reserve, Interest Rates)

Print Vita
Ph.D., 2014, Economics, Columbia University
M.A., 2010, Economics, Columbia University
B.Sc., 2008, Applied Mathematics, Ecole Polytechnique

Academic Positions
Assistant Professor of Finance, Finance, Northwestern University, Kellogg School of Management, 2014-present

Honors and Awards
Wueller Award for best graduate teaching assistant, Columbia University, 2011
Harris Prize for best 2nd year paper, Columbia University, 2010
Doctoral Fellowship, Doctoral Fellowship, 2008-Present

Print Research
Research Interests

Business cycle theory, Financial frictions and economic activity, debt structure.

Eberly, Janice C. and Nicolas Crouzet. Forthcoming. Intangibles, Investment, and Efficiency. American Economic Review Papers and Proceedings.
Crouzet, Nicolas and Hyunseung Oh. 2016. What do inventories tell us about news-driven business cycles?. Journal of Monetary Economics. 79: 49-66.
Crouzet, Nicolas. Forthcoming. Aggregate Implications of Corporate Debt Choices. Review of Economic Studies.
Working Papers
Crouzet, NicolasIan Dew-Becker and Charles Nathanson. 2017. On the effects of restricting high-frequency investment.
Crouzet, Nicolas. 2016. Debt Maturity and Investment Dynamics.
Crouzet, Nicolas. 2014. Firm investment and the composition of debt.
Crouzet, Nicolas and Neil Mehrotra. 2017. Small and Large Firms over the Business Cycle.

Print Teaching
Teaching Interests

Macroeconomics, Monetary Policy, Corporate Finance.

Full-Time / Evening & Weekend MBA
Macroeconomic Policy and Global Capital Markets (FINC-473-0)

**This course was formerly known as FINC-941-0**

How do national economies evolve and interact in a globalized world? This course focuses on the economic forces and the policy responses that are relevant for business and investment strategies. Specific topics include the meaning and measures of national and international economic activity; what determines which emerging markets develop and grow, while others stagnate; what drives business cycles, how they are propagated globally, and how government policy responds; monetary policy decisions and their effect on financial institutions and credit markets; government liabilities and how markets react to government debt; what determines trade deficits and surpluses, and the relative strength of a currency. The course provides a high-level overview to aid business planning, investment strategies, and policy analysis.