SI 2026 Asset Pricing
Organized by Andrea L. Eisfeldt and Sydney C. Ludvigson
July 16-17, 2026
Royal Sonesta Hotel, 40 Edwin H. Land Blvd., Cambridge, MA
Format: 20 minutes for authors, 20 minutes for discussants, 20 minutes for Q&A.
Thursday, July 16
8:00 am
Coffee and Pastries

Morning Joint Session with Macro, Money and Financial Frictions
8:30 am

Cross-Asset Limit Allocation of Trading Desks

Falk Bräuning, Federal Reserve Bank of Boston
Wenxin Du, Harvard University and NBER
Hillary Stein, Federal Reserve Bank of Boston

Discussant:
TBA
9:30 am
Break
9:45 am

Dissecting the Aggregate Market Elasticity

Dejanir Silva, Purdue University
Mahyar Kargar, University of Illinois Urbana-Champaign
Jiacui Li, University of Utah
Victor Duarte, University of Illinois Urbana-Champaign
Goutham Gopalakrishna, University of Toronto

Discussant:
TBA
10:45 am
Break
11:00 am

Which Intermediary Costs Matter for Asset Prices?

Manav Chaudhary, London School of Economics and Political Science (LSE)
Julie (Zhiyu) Fu, Washington University in St. Louis
Jian Li, Columbia University

Discussant:
TBA
12:00 pm
Lunch
1:00 pm

Actively Passive: The Rise of Market Volatility

Lars A. Lochstoer, University of California, Los Angeles and NBER
Tyler Muir, University of California, Los Angeles and NBER

Discussant:
John Y. Campbell, Harvard University and NBER
2:00 pm
Break
2:15 pm

Expectations and Inelastic Markets

Francesca Bastianello, The University of Chicago

Discussant:
Daniel D. Graves, Harvard University
3:15 pm
Break
3:30 pm

Intangible Capital Around the World

Frederico Belo, INSEAD
Yu Li, Shanghai Jiao Tong University
Juliana Salomao, University of Minnesota and NBER
Maria Ana Vitorino, INSEAD

Discussant:
TBA
4:30 pm
Adjourn
Friday, July 17
8:00 am
Coffee and Pastries
8:30 am

Risk and Return in Government Bonds

Matteo Leombroni, Boston College
Carolin Pflueger, The University of Chicago and NBER
Adi Sunderam, Harvard University and NBER

Discussant:
Kelly Shue, Yale University and NBER
9:30 am
Break
9:45 am

Monetary Policy Uncertainty: Sources and Consequences

Marcelo Ochoa, Federal Reserve Board of Governors
Courtney Wiegand, University of Pennsylvania

Discussant:
Anna Cieslak, Duke University and NBER
10:45 am
Break

Lightning Round
11:00 am

From Numbers to Words: Breaking Down Institutional Beliefs

Andrea Andolfatto, Bocconi University
Federico Bastianello, London Business School
11:20 am

Subjective Beliefs and the Portfolio Allocations of Institutional Investors

Aleksandar Andonov, University of Amsterdam
Spencer Couts, University of Southern California
Andrei S. Gonçalves, The Ohio State University
Johnathan Loudis, University of Notre Dame
Andrea Rossi, University of Arizona
11:40 am

The Inefficient Pricing of News Shocks

Antoine Didisheim, University of Melbourne
Bryan T. Kelly, Yale University and NBER
Mohammad Pourmohammadi, Yale University
Hanqing Tian, University of Melbourne
12:00 pm
Lunch
1:00 pm

A Market-Based Cost of Capital

Niels Joachim Gormsen, The University of Chicago and NBER
Kilian Huber, The University of Chicago and NBER
Theis I. Jensen, Yale University

Discussant:
David Thesmar, Massachusetts Institute of Technology and NBER
2:00 pm
Break
2:15 pm

Some Capital Gains are Consumed More Equally than Others

Guodong Chen, University of Michigan
Xiaomeng Lu, Fudan University
Yiqing Lu, New York University Shanghai
Michaela Pagel, Washington University in St. Louis and NBER

Discussant:
Jonathan A. Parker, Massachusetts Institute of Technology and NBER
3:15 pm
Break
3:30 pm

Assessing the Benefits of Optimized Agentic AI Systems for Asset Pricing

Ralph S. J. Koijen, The University of Chicago and NBER
Bradford Levy, The University of Chicago

Discussant:
Itay Goldstein, University of Pennsylvania and NBER
4:30 pm
Adjourn