Ian Dew Becker
Associate Professor of Finance at Kellogg School of Management
Schools
- Kellogg School of Management
Links
Biography
Kellogg School of Management
Ian earned his BA in Economics and Mathematical Methods in the Social Sciences at Northwestern, and his AM and PhD in Economics from Harvard. His research covers both theoretical and empirical consumption-based asset pricing, focusing in particular on the relationship between asset prices and the real economy. Ian previously worked at Duke University and the Federal Reserve Bank of San Francisco.
Research Interests
Asset pricing, time series econometrics, macroeconomics
Education
- Ph.D., 2012, Economics, Harvard University, Harvard University
- A.M., 2009, Economics, Harvard University, Harvard University
- B.A., 2006, Economics and Mathematical Methods in the Social Sciences, Northwestern University, Northwestern University
Academic Positions
- Associate Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 2017-present
- Assistant Professor of Finance, Finance, Kellogg School of Management, Northwestern University, 2014-present
- Assistant Professor of Finance, Fuqua School of Business, Duke University, 2013-2014
Professional Experience
- Economist, Federal Reserve Bank of San Francisco, 2012-2013
Awards
- Best Discussant Award, HEC McGill Winter Finance Conference
- Best Discussant Award, Mitsui Finance Symposium, 2014
- Harvard Warburg Grant for Research in Economics, 2011-2012
- Harvard Economics Graduate Research Fellowship, 2007-2012
- National Science Foundation Graduate Research Fellowship, 2007-2012
- Michael Dacey award: most outstanding thesis, MMSS department, Northwestern University, 2006
Videos
Ian Dew-Becker (Northwestern) -- Cross-sectional uncertainty and the business cycle
Read about executive education
Cases
Dew-Becker, Ian and Rhys Bidder. Forthcoming. Long-run risk is the worst-case scenario. American Economic Review.
We study an investor who is unsure of the dynamics of the economy. Not only are parameters unknown, but the investor does not even know what order model to estimate. She estimates her consumption process nonparametrically -- allowing potentially infinite-order dynamics -- and prices assets using a pessimistic model that minimizes lifetime utility subject to a constraint on statistical plausibility. The equilibrium is exactly solvable and we show that the pricing model always includes long-run risks. With risk aversion of 4.7, the model matches major facts about asset prices, consumption, and dividends. The paper provides a novel link between ambiguity aversion and non-parametric estimation.
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