Research

The Fama-Miller Center is designed to encourage more academic research in finance, a discipline that constantly evolves. The last few decades have brought an explosion of new markets, instruments, and financial institutions. We have seen rapid changes in the nature of and access to information. In this environment, the Fama-Miller Center has become a vital resource.

"We intend to make sure Chicago Booth remains the top global destination for finance researchers," Sunil Kumar, former dean of the school, has said. "Finance is one of our core strengths, and we have no intention of resting on our laurels."

Browse working papers from the Fama-Miller Center »

Research activities at the Fama-Miller Center currently focus on the following topics:

Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress 
Zhiguo He, Fuji Bank and Heller Professor of Finance

Creditor Discrimination and the Desegragation of Public Schools
John Heilbron, Finance PhD Student

Probation Monitoring and Household Financial Health
John Heilbron, Finance PhD Student

The Financial Wealth of African Americans after Slavery and its Intergenerational Impacts: Evidence from the Collapse of the Freedman's Bank
Richard Hornbeck, Professor of Economics and Neubauer Family Faculty Fellow

Household Debt Contracts and Income Volatility: Evidence from Fintechs
Agustin Hurtado, Finance PhD Student

Securitization and Credit Card Closings in the Aftermath of the Great Recession
Agustin Hurtado, Finance PhD Student

Disclosure of Supervisory Actions and Deposit Volatility
Anya Kleymenova, Assistant Professor of Accounting and Rimmy Tomy, Assistant Professor of Accounting and Kathryn and Grant Swick Faculty Scholar

Incentives of CLO Managers in Screening and Monitoring : evidence from Chapter 11 bankruptcies
Shohini Kundu, Finance PhD Student 

Rising from the Ashes: Fallen Angel Corporate Bond Price Recovery Post-Downgrade and Dealer Inventory Dynamics
Rayhan Momin, Finance PhD Student (with Jessica Li and Brian Liston-Clark)

Global Risk Factor Channel for Sovereign Risk
Rayhan Momin, Finance PhD Student

Why Do Borrowers Default on Mortgages? Evidence from High-Frequency Data
Pascal Noel, Neubauer Family Assistant Professor of Finance and Kathryn and Grant Swick Faculty Scholar

Monetary Policy Communication, Inflation Beliefs, and Consumption
Michael Weber, Associate Professor of Finance and Fama Faculty Fellow

Matching Planned Consumption to Earnings: The Mental Accounting of Income Volatility
Shannon White, Behavioral Science PhD Student 

News Analytics via Machine
Dacheng Xiu, Professor of Econometrics and Statistics

Corporate Taxes and Retail Prices
Constantine Yannelis, Assistant Professor of Finance and FMC Faculty Scholar