Carolin Pflueger is an Assistant Professor at Harris School of Public Policy. She is also a Faculty Research Fellow at the National Bureau of Economic Research. Her research is at the intersection of macroeconomics and finance, with a particular focus on understanding the fiscal and monetary policy drivers of bond markets.
On the theory side, she has proposed a new integrated model of macroeconomic dynamics for stocks and bonds. On the empirical side she has worked on developing a new measure of risk appetite for the macroeconomy. She is also interested in understanding how the interdependence of fiscal and monetary policy theory can raise governments’ cost of borrowing, especially in emerging markets.
Her research has been published in leading journals such as the Journal of Finance, the Journal of Financial Economics, and the Journal of Monetary Economics. She won the Arthur Warga Award for the Best Paper in Fixed Income at the SFS Cavalcade 2014 and was a finalist for the AQR Insight Award 2018. Her work is policy relevant and has been presented at the Federal Reserve Board, the US Treasury Department, and the Bank of Canada, and has been influential for asset allocation at the Norwegian sovereign wealth fund.
She received her PhD in Business Economics from Harvard in 2012 and was an Assistant Professor of Finance at the University of British Columbia from 2012 until 2019. She previously held visiting positions at the Becker-Friedman Institute at the University of Chicago, Stanford University, MIT Sloan, Brown University, and the San Francisco Federal Reserve.