Professor of Finance, Tepper School of Business, Carnegie Mellon University

Pittsburgh
Joined October 2013
Lars A. Kuehn retweeted
Princeton Conference on Asset Demand Systems to better understand the equilibrium relation between portfolio holdings and asset prices on May 14-15, 2026. Organized with @rkoijen and Liran Einav. Conference program now posted: dsap.princeton.edu/index.php… #DSAP
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In my latest paper with @HarjoatBhamra, we provide a novel CDX pricing model that can explain the comovement between CDX spreads and leverage. papers.ssrn.com/sol3/papers.…
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Existing CDX pricing models cannot reproduce this pattern because they treat default & capital structure as exogenous. We develop a consumption-based model where firms opti- mally choose default and leverage, while an EZ representative agent learns about rare disaster risk.
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Call for Papers! The 27th MFS Workshop will take place on May 1–2, 2026, at the Wharton School in Philadelphia (updated dates). Tim Landvoigt and Sean Myers will serve as co-organizers. More details here: finance-pillar.wharton.upenn…
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We are back with our @Unibocconi #Finance #Conference, Asset Pricing focus! @MarkusEconomist will be our keynote speaker. Save the date and send us your best WPs! 👇 cepr.org/events/4th-bocconi-… Many thanks to the organizers #Josefina_Cenzon, #Marco_Loseto & #Jakob_Sorensen!
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We have a tenure-track faculty opening at the Assistant or Associate Professor level in finance at the Tepper School of Business of CMU. The position is limited to candidates with expertise in entrepreneurship, venture capital, or private equity. apply.interfolio.com/176853
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We are hosting today and tomorrow the 14th Tepper-LAEF Macro-Finance Conference in Santa Barbara.
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We are hosting the 14th Advances in Macro-Finance Tepper-LAEF Conference in Santa Barbara on Oct 17 and 18. Please submit your paper by August 10 at forms.gle/DaP86ZptjX4J1KRe9
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We are hosting the 14th Advances in Macro-Finance Conference in Santa Barbara on Oct 17 and 18. Please submit your paper at forms.gle/DaP86ZptjX4J1KRe9
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20 year anniversary of the Tepper School naming
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We are looking for a seasoned candidate (tenure track) working on AI/ML in finance. Please apply at: apply.interfolio.com/158346
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We just hosted the 13th Tepper-LAEF Macrofinance conference.
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I just posted my latest paper with @HarjoatBhamra called Leverage Dynamics and Learning about Economic Crises on SSRN. papers.ssrn.com/sol3/papers.…
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We explore the feedback of learning on optimal capital structure. We find that learning magnifies the impact of leverage on risk premia.
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We are organizing the 13th Tepper-LAEF Conference. It will take place on Oct 4 in Pittsburgh. Please submit your paper by July 19 here: bit.ly/2024-tepper-laef
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I am in Hawaii at the WFA 2024, waiting to present Leverage Dynamics and Learning about Economic Crises (joint with Lars Kuehn @Risky_Arbitrage and Artur Anschukov)! Most asset pricing models focus on static moments. But what about the time series? Can we construct models to accurately gauge how asset prices respond to large economic shocks? I shall talk about how corporate leverage dynamics and learning help us do just that. @sangbyungseo shall discuss!
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Great news for 2024! The very first #EconomicsLetters PhD #SummerSchool will take place in @Unibocconi at the end of June. #EricYoung, #SydneyLudvigson, #ZhiguoHe and I will deliver three days of lectures: sites.google.com/view/econle… Deadline: April 30th. #ApplyNow !
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I'm excited to let you all know that I've started a new position as an Associate Editor at Management Science. I'm really grateful for this chance to work with a respected publication and contribute to our field.
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