Professor Milbradt's research interests are in financial economics, specifically in how financial frictions affect asset prices, the macroeconomy, and corporate decisions. In his recent work, he theoretically and empirically investigates how homeowner's prepayment decisions influence the potency of monetary policy. Professor Milbradt holds a PhD from Princeton University and a BA from Oxford University (UK). Before joining Kellogg School of Management, he served as an Assistant Professor of Finance at the MIT Sloan School of Management.

Financial Economics, Liquidity, Asset Pricing & Corporate Finance under Financial Frictions

• Ph.D., 2009, Economics, Princeton University, Princeton University
• B.A., 2003, Economics and Management, Oxford University, Oxford University

• Associate Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 2013-present
• Assistant Professor of Finance, Finance, MIT, Sloan School of Management, 2009-2013

• Faculty Research Fellow (Asset Pricing), National Bureau of Economic Research, 2013-present

• Best Paper Prize, Utah Winter Finance Conference
• Best Paper Prize, Utah Winter Finance Conference

• Associate Editor, Review of Finance, 2017
• Referee, American Economic Review, Journal of Finance, Management Science, Econometrica, Review of Economics Studies, Journal of Financial Economics, Journal of Political Economy, Review of Financial Studies, 2016

Corporate Finance III (FINC-586-3)
This course provides a theoretical and empirical treatment of major topics in empirical corporate finance, including financial contracting; banking, securitization, and financial regulation: household finance and macroeconomics; entrepreneurship and venture capital.

Corporate Finance I (FINC-586-1)
This course introduces students to theories of corporate financing and investment decisions; optimal financial contracting and security design; financial intermediation; and financial crises. Throughout we study the effects of incentive problems and asymmetric information.

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)