John H. Cochrane is the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business. His recent finance publications include the book Asset Pricing, and articles 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, and option pricing when investors can’t perfectly hedge. 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” at johnhcochrane.blogspot.com.
Cochrane is a Research Associate of the National Bureau of Economic Research and past director of its asset pricing program, and an Adjunct Scholar of the CATO institute. 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 several journals including the Journal of Monetary Economics, Journal of Business, and Journal of Economic Dynamics and Control. 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 at 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.
In addition to research and teaching, Cochrane is a competition sailplane pilot and windsurfs. He lives in Chicago with his wife Elizabeth Fama and children Sally, Eric, Gene and Lydia.
For more information, please see Cochrane’s website,
2013 - 2014 Course Schedule
Flying sailplanes, windsurfing.
Finance; macroeconomics; monetary economics.
"Discount Rates,” Journal of Finance (2011).
“Determinacy and Identification with Taylor Rules,” Journal of Political Economy (2011).
“Understanding Policy in the Great Recession: Some Unpleasant Fiscal Arithmetic,” European Economic Review (2011).
Asset Pricing (Princeton University Press, 2004).
With Monika Piazzesi, "Bond Risk Premia," American Economic Review 95, 138-160 (2005).
For a listing of research publications please visit
’s university library listing
Der-Horng Lee, Urban and Regional Transportation Modeling: Essays in Honor of David Boyce
Richard Netzer, The Property Tax, Land Use and Land Use Regulation
Eric Sheppard and Robert B. McMaster, Scale and Geographic Inquiry: Nature, Society, and Method
Laura A. Reese and David Fasenfest, Critical Evaluations of Economic Development Policies
Tracy M. Gordon, Planned Developments in California: Private Communities and Public Life
Alberto Alesina and Enrico Spolaor
Attractors, Bifurcations, & Chaos: Nonlinear Phenomena in Economics, by Tonu Puu.
Geography and History: Bridging the Divide, by Alan R.H. Baker.
Progress: Geographical Essays, edited by Robert David Sack.
Political Ecology: An Integrative Approach to Geography and Environment-Development Studies, edited by Karl S. Zimmerer and Thomas J. Bassett.
Handbook of Transport and the Environment, edited by David A. Hensher and Kenneth J. Button.
Emerging Nodes in the Gl
Walter Isard, History of Regional Science and the Regional Science Association International: The Beginnings and Early History
Robert E. Lang, Edgeless Cities: Exploring the Elusive Metropolis
Lori G. Kletzer, Imports, Exports, and Jobs: What Does Trade Mean for Employment and Job Loss?
Wei-Bin Zhang, Theory of Interregional Dynamics: Models of Capital, Knowledge and Economic Structures
Matthew P. Drenna, The Information Economy and American Cities
Zoltan J. Acs
Michael L. Lahr and Ronald E. Miller (eds.), Regional Science Perspectives in Economic Analysis: A Festschrift in Memory of Benjamin H. Stevens
Graham Clarke and Moss Madden (eds.), Regional Science in Business
Luis Suarez-Villa, Invention and the Rise of Technocapitalism
Sam Bass Warner, Jr., Greater Boston: Adapting Regional Traditions to the Present
Jameson W. Doig, Empire on the Hudson: Entrepreneurial Vision and Political Power at the Port of New York Authorit
Gordon L. Clark, Maryann P. Feldman, and Meric S. Gertler (eds.), The Oxford Handbook of Economic Geography
Peter Meusburger and Heike Jons (eds.), Transformations in Hungary: Essays in Economy and Society
Allen J. Scott (ed.), Global City-Regions: Trends, Theory, Policy
James O. Wheeler, Yuko Aoyama, and Barney Warf (eds.), Cities in the Telecommunications Age: The Fracturing of Geographies
Barry Bluestone and Mary Huff Stevenson, The Boston Renaissance: Race