Becker Friedman Institute
for Research in Economics
The University of Chicago

Research. Insights. Impact. Advancing the Legacy of Chicago Economics.

John Cochrane

AQR Capital Management Distinguished Service Professor of Finance
University of Chicago
Institute Research Council

John H. Cochrane conducts research on dynamics in stock and bond markets, the volatility of exchange rates, the term structure of interest rates, the returns to venture capital, liquidity premiums in stock prices, the relation between stock prices and business cycles, option pricing when investors can’t perfectly hedge, and monetary economics, including the fiscal theory of the price level.

He is a past President and Fellow of the American Finance Association, and a Fellow of the Econometric Society. He has been an editor of the Journal of Political Economy, and associate editor of a number of journals, including the Journal of Monetary Economics, the Journal of Business, and the Journal of Economic Dynamics and Control.

His recent publications include the book Asset Pricing and numerous articles on his research topics. His monetary economics publications include articles on the relationship between deficits and inflation, the effects of monetary policy, and on the fiscal theory of the price level. He has also written articles on macroeconomics, health insurance, time-series econometrics and other topics. He was a coauthor of The Squam Lake Report. He writes occasional Op-eds, and blogs as The Grumpy Economist.

Cochrane is an Adjunct Scholar of the CATO institute. Recent awards include the TIAA-CREF Institute Paul A. Samuelson Award for his book Asset Pricing, the Chookaszian Endowed Risk Management Prize, and the Faculty Excellence Award for MBA teaching.

Cochrane currently teaches the MBA class “Advanced Investments” and a variety of PhD classes in Asset Pricing and Monetary Economics.

Cochrane earned a Bachelor’s degree in Physics at MIT, and earned his Ph.D. in Economics at the University of California, Berkeley. He was at the Economics Department of the University of Chicago before joining the Booth School in 1994, and visited UCLA Anderson School of Management in 2000-2001.