Associate Professor of Finance, Kellogg School of Management, Northwestern University

Faculty Research Fellow, National Bureau of Economic Research (NBER)

Associate Editor, Journal of International Economics

My primary field of research is international finance and macroeconomics. I study exchange rates, capital flows, the valuation of public debt, and the special status of the U.S. and the dollar in the international monetary system. I am also interested in the cognitive process underlying expectation formation and financial decision-making.

I received my doctor of philosophy in finance from Stanford Graduate School of Business, and a bachelor degree in math and business economics from California Institute of Technology.

• PhD, 2018, Finance, Stanford Graduate School of Business
• BSc, 2013, Mathematics and Business Econ & Mgmt, California Institute of Technology

• Associate Professor of Finance, Finance, Kellogg School of Management, Northwestern University
• Assistant Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 9/2/2022

• Best Paper Award, Vienna Symposium on Foreign Exchange Markets
• Behavioral Finance Best Paper Award, China Financial Research Conference
• Nasdaq Award for the Best Paper on Asset Pricing, Western Finance Association
• Best Paper Award, Vienna Symposium on Foreign Exchange Markets
• Cubist Systematic Strategies Ph.D. Candidate Award, Western Finance Association
• H.J. Ryser Scholarship for Excellence in Mathematics, Department of Mathematics, California Institute of Technology
• Jaedicke Merit Scholar Award, Stanford Graduate School of Business

• Associate Editor, Journal of International Economics, 2023
• Referee, European Economic Review, 2020
• Referee, American Economic Review, 2020
• Referee, Management Science, 2019
• Referee, Journal of Financial Economics, 2019
• Referee, Review of Financial Studies, 2019
• Referee, Journal of Finance, 2019

Asset Pricing III (FINC-585-3)
This course covers topics in the empirical asset pricing literature with an emphasis on recent developments. Topics include: Latent factor models; GMM theory and applications in finance; return predictability; performance evaluation; affine asset pricing models; Estimation of asset risk premia; estimation of volatility and jump risks from low/high frequency data; empirical derivatives pricing using parametric and nonparametric methods.

Asset Pricing II (FINC-585-2)
This course covers recent developments in asset pricing theory, placing emphasis on the link between financial markets and the real economy. The topics covered include: models of portfolio choice, general equilibrium models of risk and return, and models with financial frictions.

Finance I (FINCM-430-0)


Finance I (FINC-430-0)

Finance 1 answers managers' and investors' most fundamental finance question: how should a project or an asset be valued? Managers must determine the value of building a factory, entering a new market, or purchasing an entire firm when deciding in which projects to invest. Similarly, individuals must assess the value of financial securities to decide how to invest their wealth. Using a combination of lectures and business cases, Finance 1 teaches the discounted cash flow and multiples methods to value projects or assets. These valuation tools lay the foundation for all work in capital markets and corporate finance.

Prerequisite: Business Analytics I (DECS-430-5)

Corequisite/Prerequisite: Accounting for Decision Making (ACCT-430) and Business Analytics II (DECS 431-0)

Corporate Finance (BUS_INST-304-0)
Effects of time and uncertainty on valuation and decision making. Discounting techniques, stock and bond valuation, capital budgeting, firm valuation, capital asset pricing model, financial options. May not receive credit for both this course and ECON 360-1. Not for students who have previously taken KELLG_FE 310-0. Prerequisites: ECON 201-0 and ECON 202-0; STAT 210-0 or equivalent; MATH 218-1 or MATH 220-1; and BUS_INST 301-0.