Areas of Expertise
- Asset Pricing
- Economic Theory
- Financial Economics
Bernard Herskovic is an assistant professor of finance with broad interests in financial economics, economic theory and macroeconomics. The native Brazilian’s most recent research shows that changes in input-output network are sources of systematic risk reflected in equilibrium asset prices. This work is the starting point for future research projects that apply network theory into asset pricing and financial economics. His other papers cover a wide range of disciplines, from idiosyncratic volatility of stock returns to endogenous network formation in an environment of information acquisition.
As a Ph.D. candidate, he developed and taught a summer course for economics majors at New York University that focused on international trade and finance. That experience, combined with his graduate training as a teaching assistant, primed him for his current position at Anderson. He applies the same dedication to teaching as he does to his research: "I try to be as mathematically precise as possible when describing concepts in class, but keeping the underlying intuition in mind."
Investment Management for full-time MBA and Fully Employed MBA programs
Ph.D. Economics, 2015, New York University
M.A. Economics, 2010, Pontifícia Universidade Católica do Rio de Janeiro
B.A. Economics, 2008, Universidade Federal de Minas Gerais
Cubist Systematic Strategies Ph.D. Candidate Award for Outstanding Research, 2015
C.V. Starr Center Fellowship, 2012
McCracken PH.D. Fellowship, 2010–2015
Honorable Mention, MA dissertation Summer Paper, PUC-Rio, 2009
"The Common Factor in Idiosyncratic Volatility: Quantitative Asset Pricing Implications" (with Bryan Kelly, Hanno Lustig and Stijn Van Nieuwerburgh), Journal of Financial Economics (forthcoming)
"Networks in Production: Asset Pricing Implications"
Information through Peers: Coordination Impacts on Network Formation” (with João Ramos)
"Promoting Educational Opportunities: Long-run Implications of Affirmative Action in College Admissions" (with João Ramos)