Asset Pricing.NBER's Program on Asset Pricing met in Chicago on March 20. NBER NBER National Bureau of Economic Research (Cambridge, MA) NBER Nittany and Bald Eagle Railroad Company Research Associates Markus K. Brunnermeier and Jose A. Scheinkman of Princeton University organized this program: * Francis A. Longstaff, University of California, Los Angeles UCLA comprises the College of Letters and Science (the primary undergraduate college), seven professional schools, and five professional Health Science schools. Since 2001, UCLA has enrolled over 33,000 total students, and that number is steadily rising. and NBER, and Jiang Wang, MIT MIT - Massachusetts Institute of Technology and NBER, "Asset Pricing and the Credit Market" * Dimitrios Vayanos, London School of Economics The School is a member of the Russell Group, the European University Association, Association of Commonwealth Universities, the Community of European Management Schools and International Companies, The Association of Professional Schools of International Affairs as well as the Golden and NBER, and Paul Woolley, London School of Economics, "An Institutional Theory of Momentum and Reversal" * Bernard Dumas, University of Lausanne The University of Lausanne (in French: Université de Lausanne) or UNIL in Lausanne, Switzerland was founded in 1537 as a school of theology, before being made a university in 1890. Today about 10,000 students and 2200 researchers study and work at the university. and NBER, and Andrew Layasoff, Boston University, "IncompleteMarket Equilibria Solved Recursively on an Event Tree" (NBER Working Paper No. 14629) * Nicolae Garleanu, University of California, Berkeley The University of California, Berkeley is a public research university located in Berkeley, California, United States. Commonly referred to as UC Berkeley, Berkeley and Cal and NBER; Leonid Kogan, MIT and NBER; and Stavros Panageas, University of Chicago, "The Demographic of Innovation and Asset Returns" * Panel Discussion: "Rethinking Asset Pricing: Lessons from the current financial crisis" Is the divide between asset pricing and corporate finance useful? Is a framework based on a single representative agent still appropriate? Does asset pricing focus too much on specification of preferences and too little on frictions/constraints/liquidity? Should we switch to an "Institutional Finance" paradigm? Panel members: Lars P. Hansen and John H. Cochrane, University of Chicago and NBER; Darrell Duffle, Stanford University and NBER; and Peter Kyle, University of Maryland Summaries of these papers may be found at: http://www.nber.org/confer/2009/aps09/summary.html |
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