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Program Co-Directors

Ralph Koijen

Ralph S. J. Koijen is the AQR Capital Management Professor of Finance at the University of Chicago Booth School of Business. His research focuses on finance, insurance, and macroeconomics. He has been an NBER affiliate since 2010.

Sydney Ludvigson Profile.jpeg

Sydney C. Ludvigson is the Julius Silver, Roslyn S. Silver, and Enid Silver Winslow Professor of Economics at New York University. Her research focuses on the interplay between asset markets and macroeconomic activity. She has been an NBER affiliate since 2003.

Featured Program Content

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  • Article
In response to stock market moves, target date funds rebalance their portfolios to achieve a preset mix of stocks and bonds, thereby creating a force...
Tick Size Pilot Program and Corporate Payouts Graphic
  • Article
A series of regulatory changes beginning in the mid-1990s reduced firms’ cost of repurchasing their shares and contributed to increases in buybacks...
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  • Article
Data on 5,917 hedge funds over 22 years suggest that after incentive fees and management fees are assessed, investors received only 36 cents of every...
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