Monika Piazzesi
Joan Kenney Professor of Economics, Senior Fellow at the Stanford Institute for Economic Policy Research and Professor, by courtesy, of Finance at the Graduate School of Business
Academic Appointments
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Professor, Economics
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Senior Fellow, Stanford Institute for Economic Policy Research (SIEPR)
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Professor (By courtesy), Finance
Administrative Appointments
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Joan Kenney Professor of Economics, Department of Economics, Stanford University (2010 - Present)
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Professor of Economics, Department of Economics, Stanford University (2008 - Present)
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Monetary Advisor, Federal Reserve Bank of Minneapolis (2007 - 2008)
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John Huizinga Faculty Fellow, Graduate School of Business, University of Chicago (2006 - 2008)
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Professor of Finance, Graduate School of Business, University of Chicago (2006 - 2008)
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Associate Professor, Graduate School of Business, University of Chicago (2005 - 2006)
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Assistant Professor, Graduate School of Business, University of Chicago (2003 - 2005)
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Assistant Professor, UCLA Anderson School (2000 - 2003)
Honors & Awards
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Faculty Teaching Prize, Department of Economics, Stanford University (2011)
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Fellow, Academy of Arts and Sciences (2011)
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Fellow, Econometric Society (2008)
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Elaine Bennett Research Prize, American Economic Association (2006)
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Research Fellow, Alfred P. Sloan Foundation (2005 - 2007)
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Bernacer Prize, Observato rio del Banco Central Europeo (2005)
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George W. Robbins Award for Teaching Excellence, UCLA (2003)
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Zellner Award, Amstat Online (2001)
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Fellowship, Bradley Foundation (1999 - 2000)
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Dissertation Fellowship, Alfred P. Sloan Foundation (1998 - 1999)
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Dissertation Fellowship, German National Academic Foundation (1997 - 2000)
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Outstanding Teaching Assistant Awards, Econ 102 (Introduction to Econometrics) and Econ 103 (Applied Macroeconomics), Stanford University (1997)
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Fellowship, German Academic Exchange (1995 - 1996)
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Erasmus Fellowship, European Community (1993 - 1994)
Boards, Advisory Committees, Professional Organizations
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Member, Working Group on Global Markets, Stanford University
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Member, American Economic Association, Executive Committee (2011 - 2013)
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Member, AFA Board of Directors (2010 - 2012)
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Director, Western Finance Association (2009 - 2011)
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Affiliated Professor, Ludwig-Maximilians-Universitat Munchen (2008 - 2011)
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Asset Pricing Program Director, National Bureau of Economic Research (2007 - Present)
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Co-Editor, Journal of Political Economy (2006 - Present)
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Associate Editor, American Economic Review (2006 - 2008)
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Research Affiliate, Center for Economic and Policy Research (2005 - Present)
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Associate Editor, Economic Journal (2005 - 2008)
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Research Associate in the AP, EFG & ME programs, National Bureau of Economic Research (2001 - Present)
Professional Education
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Vordiplom, University of Heidelberg, Germany, Economics (1991)
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Diplom, University of Bonn, Germany, Economics (1994)
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Ph.D., Stanford University, Economics (2000)
2024-25 Courses
- Financial Markets
ECON 141 (Win) - Macroeconomic Seminar
ECON 310 (Aut, Win, Spr) - Macroeconomics I
ECON 210 (Aut) -
Independent Studies (4)
- Directed Reading
ECON 139D (Aut, Win, Spr) - Directed Reading
ECON 239D (Aut, Win, Spr, Sum) - Honors Thesis Research
ECON 199D (Aut, Win, Spr, Sum) - Practical Training
ECON 299 (Aut, Win, Spr, Sum)
- Directed Reading
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Prior Year Courses
2023-24 Courses
- Financial Markets
ECON 141 (Win) - Macroeconomic Seminar
ECON 310 (Aut, Win, Spr) - Macroeconomics I
ECON 210 (Aut)
2022-23 Courses
- Macroeconomic Workshop
ECON 310 (Aut, Win, Spr) - Macroeconomics I
ECON 210 (Aut) - Macroeconomics II
ECON 211 (Win) - The Modern Financial System
ECON 44 (Win)
2021-22 Courses
- Macroeconomic Workshop
ECON 310 (Aut, Win, Spr) - Macroeconomics I
ECON 210 (Aut) - Macroeconomics II
ECON 211 (Win) - The Modern Financial System
ECON 44 (Win)
- Financial Markets
Stanford Advisees
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Postdoctoral Faculty Sponsor
Morgane Richard -
Doctoral Dissertation Advisor (AC)
Shifrah Aron-Dine, Cindy Chung, Marcelo Sena -
Doctoral Dissertation Co-Advisor (AC)
Lautaro Chittaro, Otavio Rubiao
All Publications
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The Housing Market(s) of San Diego
AMERICAN ECONOMIC REVIEW
2015; 105 (4): 1371-1407
View details for DOI 10.1257/aer.20111662
View details for Web of Science ID 000351872500002
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Should the monetary policy rule be different in a financial crisis?
JOURNAL OF ECONOMIC DYNAMICS & CONTROL
2014; 49: 18-20
View details for DOI 10.1016/j.jedc.2014.09.016
View details for Web of Science ID 000347600000003
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Housing Assignment with Restrictions: Theory and Evidence from Stanford University's Campus
AMERICAN ECONOMIC REVIEW
2014; 104 (5): 67-72
View details for DOI 10.1257/aer.104.5.67
View details for Web of Science ID 000338925400010
- Remapping the Flow of Funds Systemic Risk and Macro Modeling edited by Brunnermeier, M., Krishnamurthy, A. 2012
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Interest Rate Risk in Credit Markets
122nd Annual Meeting of the American-Economics-Association
AMER ECONOMIC ASSOC. 2010: 579–84
View details for DOI 10.1257/aer.100.2.579
View details for Web of Science ID 000278389300112
- Affine Term Structure Models Handbook of Financial Econometrics edited by Sahalia, Y. A., Hansen, L. P. North Holland, Elsevier. 2010: 691–766
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Momentum Traders in the Housing Market: Survey Evidence and a Search Model
121st Annual Meeting of the American-Economic-Association
AMER ECONOMIC ASSOC. 2009: 406–11
View details for DOI 10.1257/aer.99.2.406
View details for Web of Science ID 000266458300067
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Futures prices as risk-adjusted forecasts of monetary policy
JOURNAL OF MONETARY ECONOMICS
2008; 55 (4): 677-691
View details for DOI 10.1016/j.jmoneco.2008.04.003
View details for Web of Science ID 000258351100002
- Inflation Illusion, Credit, and Asset Prices" Asset Pricing and Monetary Policy edited by Campbell, J. Chicago, IL: Chicago University Press. 2008: 147–181
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Housing, consumption and asset pricing
JOURNAL OF FINANCIAL ECONOMICS
2007; 83 (3): 531-569
View details for DOI 10.1016/j.jfineco.2006.01.006
View details for Web of Science ID 000245389100001
- Asset Prices and Quantities Journal of the European Economic Association 2007; 5: 380-389
- Equilibrium Yield Curves NBER Macroeconomics Annual 2006 edited by Acemoglu, D., Rogoff, K., Woodford, M. Cambridge MA: MIT press. 2007: 389–442
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What does the yield curve tell us about GDP growth?
JOURNAL OF ECONOMETRICS
2006; 131 (1-2): 359-403
View details for DOI 10.1016/j.jeconom.2005.01.032
View details for Web of Science ID 000236410000014
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Modeling bond yields in finance and macroeconomics
117th Annual Meeting of the American-Economic-Association
AMER ECONOMIC ASSOC. 2005: 415–20
View details for Web of Science ID 000233172500077
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Bond yields and the federal reserve
JOURNAL OF POLITICAL ECONOMY
2005; 113 (2): 311-344
View details for Web of Science ID 000227742600003
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Bond risk premia
AMERICAN ECONOMIC REVIEW
2005; 95 (1): 138-160
View details for Web of Science ID 000228841600007
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Corporate earnings and the equity premium
JOURNAL OF FINANCIAL ECONOMICS
2004; 74 (3): 401-421
View details for DOI 10.1016/j.jfineco.2003.12.001
View details for Web of Science ID 000225411800001
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The role of policy rules in inflation targeting - Commentary
FEDERAL RESERVE BANK OF ST LOUIS REVIEW
2004; 86 (4): 113-115
View details for Web of Science ID 000226745200007
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A no-arbitrage vector autoregression of term structure dynamics with macroeconomic and latent variables
JOURNAL OF MONETARY ECONOMICS
2003; 50 (4): 745-787
View details for DOI 10.1016/S0304-3932(03)00032-1
View details for Web of Science ID 000183816700002
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The fed and interest rates - A high-frequency identification
114th Annual Meeting of the American-Economic-Association
AMER ECONOMIC ASSOC. 2002: 90–95
View details for Web of Science ID 000176395100018
- The 6D Bias and the Equity-Premium Puzzle: Comment NBER macroeconomics annual 2001 edited by Bernanke, Rogoff, K. Cambridge and London: MIT Press. 2002: 317–29