Ian Dew-Becker
Ian Dew-Becker

Assistant Professor of Finance

Print Overview

Ian earned his BA in Economics and Mathematical Methods in the Social Sciences at Northwestern, and his AM and PhD in Economics from Harvard. His research covers both theoretical and empirical consumption-based asset pricing, focusing in particular on the relationship between asset prices and the real economy. Ian previously worked at Duke University and the Federal Reserve Bank of San Francisco.

Areas of Expertise
Asset Pricing (Equity Markets/Stock Market, Investments and Portfolio Choice)
Derivative Securities and Markets (Futures, Options, Commodities)
Economic Models
Economic Theory
Economics of Uncertainty
Equity Markets (Stock Market) (Includes: Asset Pricing, Investments and Portfolio Choice)
Macroeconomics (Includes: Monetary Economics, Federal Reserve, Interest Rates)

Print Vita
Ph.D., 2012, Economics, Harvard University, Harvard University
A.M., 2009, Economics, Harvard University, Harvard University
B.A., 2006, Economics and Mathematical Methods in the Social Sciences, Northwestern University, Northwestern University

Academic Positions
Assistant Professor of Finance, Finance, Northwestern University, Kellogg School of Management, 2014-present
Assistant Professor of Finance, Duke University, Fuqua School of Business, 2013-2014

Other Professional Experience
Economist, Federal Reserve Bank of San Francisco, 2012-2013

Grants and Awards
Best Discussant Award, Mitsui Finance Symposium, 2014
Harvard Warburg Grant for Research in Economics, 2011-2012
Harvard Economics Graduate Research Fellowship, 2007-2012
National Science Foundation Graduate Research Fellowship, 2007-2012
Michael Dacey award: most outstanding thesis, MMSS department, Northwestern University, 2006

Print Research
Research Interests
Asset pricing, time series econometrics, macroeconomics

Dew-Becker, Ian. 2014. Bond Pricing with a Time-Varying Price of Risk in an Estimated Medium-Scale New-Keynesian Model. Journal of Money, Credit and Banking. 46(5)
Dew-Becker, Ian and R. J. Gordon. 2007. Unresolved Issues in the Rise of American Inequality. Brookings Papers on Economic Activity.(2): 169-190.
Dew-Becker, Ian and R. J. Gordon. 2005. Where did the Productivity Growth Go? Inflation Dynamics and the Distribution of Income. Brookings Papers on Economic Activity.(2): 67-127.
Working Papers
Dew-Becker, Ian and Marius Rodriguez. 2015. The Price of Variance Risk.
Dew-Becker, Ian and Stefano Giglio. Asset Pricing in the Frequency Domain: Theory and Empirics.
Dew-Becker, Ian. A Model of Time-Varying Risk Premia with Habits and Production.
Dew-Becker, Ian. How Risky is Consumption in the Long-Run? Benchmark Estimates from a Novel Unbiased and Efficient Estimator.
Dew-Becker, Ian and Rhys Bidder. Long-run risk is the worst-case scenario: ambiguity aversion and non-parametric estimation of the endowment process.
Conference Proceedings
Dew-Becker, Ian. 2009. "How Much Sunlight Does it Take to Disinfect a Boardroom? A Short History of Executive Compensation Regulation in America." vol. 55.

Print Teaching
Teaching Interests
Full-Time / Part-Time MBA
Investments (FINC-460-0)

This course counts toward the following majors: Analytical Finance, Finance.

This course aims at developing key concepts in investment theory from the perspective of a portfolio manager rather than an individual investor. The goal of this class is to provide you with a structure for thinking about investment theory and show you how to address practical investment problems in a systematic manner. Instead of focusing on pure theoretical models, the emphasis is given on the empirical facts observed in asset prices in worldwide capital markets, understanding whether they manifest new dimension of systematic risk, and how to design smart portfolios to take advantage of multiple sources of systematic risk.

Topics include capital allocation and optimal portfolio selection; diversification, risk, and various models linking risks with returns, such as, the CAPM, the Fama-French 3-Factor Model (‘value’ and ‘size’ investing), ‘momentum investing’ and the Carhart’s 4-Factor Model, and Ross’s multifactor APT to account for multiple sources of systematic risk; risk-adjusted returns, measures of fund performance, and various trading strategies used by Hedge Funds; market efficiency (including empirical anomalies and behavioral finance). Among other topics, impact of borrowing constraint and transaction costs and illiquidity; risk management issues, such as, portfolio insurance; Bond valuation and the term structure of interest rates; the Black-Scholes/Merton option pricing model; etc. may be covered as time permits.

This is a quantitative course. We discuss many cases, but case studies will require ability to do statistical analysis similar to what might be applied in practice. The course develops an applied analytical framework of financial investments. Therefore students interested in this course are expected to have sound knowledge of Statistics and Regression Analysis.