MYRON SCHOLES GLOBAL MARKETS FORUM

BREXIT: WHAT IT MEANS FOR EUROPE AND THE WORLD

DECEMBER 6, 2016, -

Four Booth faculty members with deep knowledge of Europe discussed the implications of Brexit. 

Panelists are Marianne Bertrand, Christian Leuz, Lubos Pastor, and Randall Kroszner.

The Myron Scholes Global Markets Forum is part of the Initiative on Global Markets (IGM) and is generously sponsored by Myron Scholes. 

Click here to watch video.

Where

Gleacher Center (map)
450 North Cityfront Plaza Drive, Room 621
Chicago, IL 60611

Questions

Jennifer Williams
773.702.6324


Speaker Profiles


Marianne Bertrand is the Chris P. Dialynas Distinguished Service Professor of Economics at the University of Chicago Booth School of Business. She is a Research Fellow at the National Bureau of Economic Research, the Center for Economic Policy Research, and the Institute for the Study of Labor.

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Professor Bertrand is an applied micro-economist whose research covers the fields of labor economics, corporate finance, and development economics. Her research in these areas has been published widely, including numerous research articles in the Quarterly Journal of Economics, the Journal of Political Economy, the American Economic Review, and the Journal of Finance.

Professor Bertrand is a co-director of Chicago Booth’s Social Enterprise Initiative. She is also a member of the Faculty Advisory Board for the University of Chicago’s Collegium for Culture and Society, as well as of the Board of Directors for the Abdul Latif Jameel Poverty Action Lab. Professor Bertrand also serves as co-editor of the American Economic Review.

She has received several awards and honors, including the 2004 Elaine Bennett Research Prize, awarded by the American Economic Association to recognize and honor outstanding research in any field of economics by a woman at the beginning of her career, and the 2012 Society of Labor Economists’ Rosen Prize for Outstanding Contributions to Labor Economics. She is a Fellow of the American Academy of Arts and Sciences.

Born in Belgium, Professor Bertrand received a bachelor's degree in economics from Belgium's Universite Libre de Bruxelles in 1991, followed by a master's degree in econometrics from the same institution the next year. She moved to the United States in 1993 and earned a PhD in economics from Harvard University in 1998. She was a faculty member in the Department of Economics at Princeton University for two years before joining Chicago Booth in 2000.

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Christian Leuz is the Joseph Sondheimer Professor of International Economics, Finance and Accounting at the University of Chicago's Booth School of Business. He is also a co-director of the Initiative on Global Markets, a research associate at the National Bureau of Economic Research, and a Fellow at the European Corporate Governance Institute, Wharton's Financial Institution Center, Goethe Universität Frankfurt's Center for Financial Studies, and the CESifo Research Network.

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Professor Bertrand is an applied micro-economist whose research covers the fields of labor economics, corporate finance, and development economics. Her research in these areas has been published widely, including numerous research articles in the Quarterly Journal of Economics, the Journal of Political Economy, the American Economic Review, and the Journal of Finance.

Professor Bertrand is a Co-Director of Chicago Booth’s Social Enterprise Initiative. She is also a member of the Faculty Advisory Board for the University of Chicago’s Collegium for Culture and Society, as well as of the Board of Directors for the Abdul Latif Jameel Poverty Action Lab. Professor Bertrand also serves as co-editor of the American Economic Review.

She has received several awards and honors, including the 2004 Elaine Bennett Research Prize, awarded by the American Economic Association to recognize and honor outstanding research in any field of economics by a woman at the beginning of her career, and the 2012 Society of Labor Economists’ Rosen Prize for Outstanding Contributions to Labor Economics. She is a Fellow of the American Academy of Arts and Sciences.

Born in Belgium, Professor Bertrand received a Bachelor's Degree in economics from Belgium's Universite Libre de Bruxelles in 1991, followed by a Master's Degree in econometrics from the same institution the next year. She moved to the United States in 1993 and earned a Ph.D. in economics from Harvard University in 1998. She was a faculty member in the Department of Economics at Princeton University for two years before joining Chicago Booth in 2000.

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Lubos Pastor is Charles P. McQuaid Professor of Finance at the University of Chicago Booth School of Business. At Chicago Booth, he also serves as co-director of the Fama-Miller Center for Research in Finance and a member of the CRSP Indexes Advisory Council.

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Lubos Pastor is Charles P. McQuaid Professor of Finance at the University of Chicago Booth School of Business. At Chicago Booth, he also serves as co-director of the Fama-Miller Center for Research in Finance and a member of the CRSP Indexes Advisory Council. Outside Chicago Booth, he is a member of the Bank Board of the National Bank of Slovakia, President of the Western Finance Association, Director of the American Finance Association, Research Associate at the National Bureau of Economic Research, and Research Fellow at the Centre for Economic Policy and Research. He is also an Associate Editor of the Journal of Financial Economics and a former Associate Editor of the Journal of Finance and the Review of Financial Studies.

Professor Pastor’s research focuses mostly on financial markets and asset management. He has written on a broad range of topics such as liquidity risk, political uncertainty, stock price bubbles, stock volatility, return predictability, technological revolutions, income inequality, portfolio choice, performance evaluation, returns to scale in active management, indexing, and IPOs. He has analyzed various effects of parameter uncertainty and learning in finance. His articles have appeared in the American Economic ReviewJournal of FinanceJournal of Financial EconomicsJournal of Monetary EconomicsJournal of Political EconomyReview of Financial Studies, and other outlets. His research has been awarded numerous prizes, such as two Smith Breeden Prizes, three Fama/DFA Prizes, Whitebox Advisors Selected Research Prize, Goldman Sachs Asset Management Prize, Barclays Global Investors Prize, Rothschild Caesarea Center Best Paper Award, Jacobs Levy Center Best Paper Prize, two Geewax, Terker & Co. Prizes, Marshall Blume Prize, the NASDAQ Award, and the Q Group Award.

Professor Pastor has been teaching at Chicago Booth since 1999 when he obtained a Ph.D. in finance from the Wharton School at the University of Pennsylvania. He has received the McKinsey Award for Excellence in Teaching as well as two Faculty Excellence Awards at Chicago Booth.

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Randall S. Kroszner served as a Governor of the Federal Reserve System from 2006 until 2009. He chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. In these capacities, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards.

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Randall S. Kroszner served as a Governor of the Federal Reserve System from 2006 until 2009. He chaired the committee on Supervision and Regulation of Banking Institutions and the committee on Consumer and Community Affairs. In these capacities, he took a leading role in developing responses to the financial crisis and in undertaking new initiatives to improve consumer protection and disclosure, including rules related to home mortgages and credit cards. He represented the Federal Reserve Board on the Financial Stability Forum (now called the Financial Stability Board), the Basel Committee on Banking Supervision, and the Central Bank Governors of the American Continent and was a director of NeighborWorks America. Dr. Kroszner chaired the working party of the Organization for Economic Cooperation and Development (OECD), composed of deputy central bank governors and finance ministers, on Policies for the Promotion of Better International Payments Equilibrium. As a member of the Fed Board, he was also a voting member of the Federal Open Market Committee.

From 2001 to 2003, Dr. Kroszner was a member of the President’s Council of Economic Advisers (CEA). He was involved in formulating policy on a wide range of issues, including responses to corporate governance scandals, government-sponsored enterprise reform, pension reform, terrorism risk insurance, tax reform, currency crisis management, sovereign debt restructuring, the role of the International Monetary Fund (IMF), and international trade and development.

Since 1990, Dr. Kroszner has taught at the University of Chicago Booth School of Business. Dr. Kroszner was Director of the George J. Stigler Center for the Study of the Economy and the State. He served as editor of the Journal of Law & Economics and has been associate editor of a number of other academic and policy journals. He was a member of the board of directors at the National Association for Business Economics. Dr. Kroszner also was a member of the Federal Economic Statistics Advisory Committee at the Bureau of Labor Statistics in the Department of Labor. He is currently a Research Associate of the National Bureau of Economic Research and serves on the Committee on Economic Statistics of the American Economics Association. He serves on the board of the Financial Management Association and of the Paulson Institute. He is the Booth Academic Director of the CEO Perspectives program.

Dr. Kroszner has been a visiting scholar at the Securities and Exchange Commission, the IMF, the Stockholm School of Economics, the Stockholm University, the Free University of Berlin, Germany, the London School of Economics, and the American Enterprise Institute. He was the John M. Olin Visiting Fellow in Law and Economics at the University of Chicago Law School the Bertil Danielson Visiting Professor of Banking and Finance at the Stockholm School of Economics, and the SK Chaired Visiting Professor at Yonsei University, Seoul, Korea.

His research interests include regulation of financial institutions, international financial crises, the Great Depression, monetary economics, corporate governance, debt restructuring and bankruptcy, and political economy. His paper on managerial stock ownership (with Clifford Holderness and Dennis Sheehan) won the Brattle Prize for best corporate finance paper in the Journal of Finance. His book co-authored with Robert J. Shiller, Reforming U.S. Financial Markets: Reflections Before and Beyond Dodd-Frank (MIT Press) appeared on the Washington Post’s Book World political best sellers list.

Dr. Kroszner is a frequent commentator in the international media. He provides advice to financial institutions, government organizations, and central banks throughout the world. He is a member of the World Economic Forum’s Global Agenda Council on the global financial system and is involved with Gates Foundation initiatives on promoting access to financial services for the poor in emerging market countries.

Dr. Kroszner received a Sc.B. (magna cum laude) in applied mathematics-economics (honors) from Brown University in 1984 and an M.A. (1987) and Ph.D. (1990), both in economics, from Harvard University.

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