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April 27 - 28, 2023
UCLA Anderson


The UCLA Fink Center for Finance and the Finance area at the UCLA Anderson School of Management are delighted to host the third annual Conference on Financial Markets, April 27-28, 2023, in person at UCLA. The conference will feature high-quality academic research relating to financial markets and include participation from leading practitioners at the intersection of research and practice. 

Keynote Address:

Darrell Duffie, Stanford University

Paper Submissions:

Papers are invited for submission on the broad theme of financial markets. To submit a paper, please complete this online form. The deadline for submission is February 19, 2023. Authors will be notified of paper selection in March.

Contact us:

2022 Conference Schedule


11:30 - 12:30 pm

Welcome Lunch

1:00 - 2:00 pm

"Do Employees Cheer for Private Equity? The Heterogeneous Effect of Buyouts on Jobs Quality"
Will Gornall, University of British Columbia
Oleg Gredil, Tulane University 
Sabrina T. Howell, New York University
Xing Liu, University of British Columbia

Presented by Will Gornall, University of British Columbia
Discussant: Richard Townsend, UC San Diego

2:15 - 3:15 pm

"Consumer Credit: Learning Your Customer's Default Risk from What (S)he Buys"
Annette Vissing-Jorgensen, UC Berkeley

Presented by Annette Vissing-Jorgensen, UC Berkeley
Discussant: Pascal Noel, University of Chicago

3:30 - 4:30 pm

"Digital Collateral"
Paul J. Gertler, UC Berkeley
Brett Green, Washington University in St. Louis
Catherine D. Wolfram, UC Berkeley

Presented by Brett Green, Washington University in St. Louis
Discussant: Konstantin Milbradt, Northwestern University

4:45 - 6:00 pm


Markus Brunnermeier, Princeton University

6:00 pm



7:00 - 8:00 am


8:00 - 9:00 am

"Financial Inclusion Across the United States"
Motohiro Yogo, Princeton University
Andrew Whitten, US Department of the Treasury
Natalie Cox, Princeton University

Presented by Motohiro Yogo, Princeton University
Discussant: Alice Volz, Principal Economist, Federal Reserve Bank

9:15 - 10:30 am

Panel Discussion: Central Bank Digital Currency
David Andolfatto, Senior Vice President, Federal Reserve Bank
David Mills, Associate Director, Federal Reserve Bank
David Yermack, New York University

In a private conversation moderated by Andrea Eisfeldt, UCLA

10:45 - 11:45 am

"Segmented Arbitrage"
Emil Siriwardane, Harvard University
Aditya Sunderam, Harvard University
Jonathan Wallen, Harvard University

Presented by Jonathan Wallen, Harvard University
Discussant: Arvind Krishnamurthy, Stanford University

12:00 - 1:00 pm

"Hidden Alpha"
Manuel Ammann, University of St. Gallen
Lauren Cohen, Harvard University
Stephan Heller, Harvard University and University of St. Gallen

Presented by Lauren Cohen, Harvard University
Discussant: Scott E. Yonker, Cornell University

1:00 pm


Past Conference Highlights

FRIDAY, APRIL 23, 2021

10:00 am – 10:05 am


10:05 – 10:45 am

Duration-Based Stock Valuation: Reassessing Stock Market Performance and Volatility

Jules Van Binsbergen, University of Pennsylvania

Presented by Jules Van Binsbergen, University of Pennsylvania

Discussant: Greg Duffee, Johns Hopkins University

10:45 – 11:25 am

Capital Commitment

Elise Gourier, ESSEC Business School
Ludovic Phalippou, Oxford University
Mark M. Westerfield, University of Washington

Presented by Ludovic Phalippou, Oxford University

Discussant: Giorgia Piacentino, Columbia University

11:25 – 11:40 am


11:40 – 12:20 pm

Necessary Evidence for a Risk Factor's Relevance

Alexander M. Chinco, University of Chicago
Samuel M. Hartzmark, University of Chicago
Abigail Sussman, University of Chicago

Presented by Samuel M. Hartzmark, University of Chicago

Discussant: Harrison Hong, Columbia University

12:20 – 1:00 pm

Model Complexity, Expectations, and Asset Prices

Pooya Molavi, Northwestern University
Alireza Tahbaz-Salehi, Northwestern University
Andrea Vedolin, Boston University

Presented by Andrea Vedolin, Boston University
Discussant: Lars Peter Hansen, University of Chicago

1:00 – 1:15 pm


1:15 – 1:55 pm

How Green is Unconventional Monetary Policy

Melina Papoutsi, European Central Bank
Monika Piazzesi, Stanford University
Martin Schneider, Stanford University

Presented by Monika Piazzesi, Stanford University
Discussant: Motohiro Yogo, Princeton University

1:55 – 2:30 pm

Virtual Final Reception

Keynote Address

John Y. Campbell
Harvard University

Keynote Discussion

Larry Fink

David G. Booth

TUESDAY, MAY 14, 2019

11:45 am – 12:45 pm


12:45 – 2:00 pm


Larry D. Fink, Chairman and CEO, BlackRock

David G. Booth, Founder and Executive Chairman, Dimensional

In a private conversation moderated by Andrea Eisfeldt, UCLA

2:15 – 3:15 pm

Conditional Dynamics and the Multi-horizon Risk-return Trade-off

Mikhail Chernov, UCLA
Lars Lochstoer, UCLA
Stig R. H. Lundeby, Norwegian School of Economics

Presented by  Lars Lochstoer, UCLA
Discussant:  Jonathan Lewellen, Dartmouth College

3:30 – 4:30 pm

Understanding Global Equity Valuations

Ralph Koijen, University of Chicago
Robert J. Richmond, New York University
Motohiro Yogo, Princeton University

Presented by  Robert J. Richmond, New York University
Discussant:  Carolin Pflueger, University of Chicago

4:45 – 6:00 pm


John Y. Campbell, Harvard University

6:00 – 7:00 pm



8:00 – 8:15 am


8:15 – 9:15 am

The Impact of Pensions and Insurance on Global Yield Curves

Robin Greenwood, Harvard University
Annette Vissing-Jorgensen, UC Berkeley

Presented by  Annette Vissing-Jorgensen, UC Berkeley
Discussant:  Hanno Lustig, Stanford University

9:30 – 10:30 am

Active and Passive Investing

Nicolae B. Gârleanu, UC Berkeley
Lasse H. Pedersen, New York University

Presented by  Nicolae B. Gârleanu, UC Berkeley
Discussant:  Jonathan Berk, Stanford University

10:45 – 11:45 am

Blockchain Economics

Joseph Abadi, Princeton University
Markus K. Brunnermeier, Princeton University

Presented by  Markus K. Brunnermeier, Princeton University
Discussant:  Leonid Kogan, MIT

12:00 – 1:00 pm

Money Market Fund Reform and Arbitrage Capital

Alyssa Anderson, Board of Governors of the Federal Reserve System
Wenxin Du, University of Chicago
Bernd Schlusche, Board of Governors of the Federal Reserve System

Presented by  Wenxin Du, University of Chicago
Discussant:  Alan Moreira, University of Rochester

1:00 pm


View photos from the 2019 Conference on Financial Markets

ucla anderson fink center conference on financial markets 2019