Greenwood and Hanson are from the Harvard Business School and the NBER; Vayanos is from the London School of Economics, the NBER, and CEPR. Hanson serves as a compensated consultant for a hedge fund that invests in long-term bonds. Additional disclosures are available on the authors’ websites. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.
Robin Greenwood
Outside Activities -- Robin Greenwood
This document contains a list of professional activities beyond my main employment at Harvard
University. Please feel free to contact me with any questions about this disclosure statement.
Last updated November 2023.
Outside activities since 2008, paid and unpaid:
Member, Financial Advisory Roundtable, Federal Reserve Bank of New York (unpaid)
Academic Partner, State Street Associates (2021-present)
Academic Advisory Board, Martingale Asset Management (chairman)
Consultant, Martingale Asset Management
AllianceBernstein, research presentation and consultation
Capital structure consultation to two non-financial public companies
Associate Editor, Review of Financial Studies (unpaid)
Editor, Review of Financial Studies (2014-2016, unpaid)
Honoraria:
In 2020, the Brookings Institute paid me an honorarium for the paper “Sizing Up Corporate Restructuring
in the COVID Crisis." (pdf)”
In 2014, the Brookings Institute paid me an honorarium for the working paper “Government Debt
Management at the Zero Lower Bound”
The Banco Central de Chile paid me an honorarium for the paper “Forward Guidance in the Yield Curve:
Short Rates versus Bond Supply.”
I was paid an honorarium for my role as a coauthor on the paper “"The Federal Reserve's Balance Sheet
as a Financial-Stability Tool.” Economic Symposium Conference Proceedings (Federal Reserve Bank of
Kansas City)
Paid speeches and executive education:
HBS Investment Management Workshop (various years, since 2008)
HBS Finance for Senior Executives (various years, unpaid before 2016)
SanfordBernstein Research Conference
Robeco
Q-Group
Arrowstreet Capital
Pyramis
Prudential
State Street
Windham Capital Management
Other:
Between 2015 and 2021, I was a voting member on the Harvard University Committee on pensions. I did
not do consulting work or make paid presentations to any investment managers employed or being
considered by Harvard in this capacity.
As part of my work at Harvard Business School, I regularly write cases about hedge funds, investment
managers, and their strategies. I receive no compensation from these managers for writing these cases,
and the cases are not meant as endorsements of the managers or their strategies. I receive royalties
(currently less than $2000 per year) for cases I have written while employed at Harvard.
Samuel Hanson
September 1, 2023
SAMUEL G. HANSON
Outside Activities since 2011
This document contains a list of professional activities beyond my main employment at Harvard University. Please feel free to contact me with any questions about this disclosure statement.
Paid consulting:
• Academic consultant to former Treasury Secretary Timothy Geithner on his book about the financial crisis, Stress Test: Reflections on Financial Crises: 2013–2014.
• Academic Consultant for The D. E. Shaw Group: 2014.
• Academic Consultant for Bracebridge Capital: 2015–2016.
• Academic Consultant for the Federal Reserve Bank of Minneapolis: 2016.
• Consulting Economist for Verdad Advisers, LP: 2022–present.
Unpaid consulting:
• Academic consultant for Federal Reserve Bank of Boston President Eric Rosenberg on the design the of the Federal Reserve’s Main Street Lending Programs: 2020.
Commissioned research:
• I was paid by The Clearing House Association in 2010 for the unpublished working paper, “An Analysis of the Impact of ‘Substantially Heightened’ Capital Requirements on Large Financial Institutions”.
Paid honoraria for papers:
• The Aspen Institution paid me an honorarium for the paper “Business Continuity Insurance in the Next Disaster” in 2021.
• The Brookings Institution paid me an honorarium for the paper “Business Credit Programs in the Pandemic Era” in 2021.
• The Brookings Institution paid me an honorarium for the paper “Strengthening and Streamlining Bank Capital Regulation” in 2017.
• The Federal Reserve Bank of Kansas City paid me an honorarium for the paper “The Federal Reserve's Balance Sheet as a Financial-Stability Tool” in 2016.
• The International Monetary Fund paid me an honorarium for the paper “An Evaluation of Money Market Fund Reform Proposals” in 2015.
• The Banco Central de Chile paid me an honorarium for the paper “Forward Guidance in the Yield Curve: Short Rates versus Bond Supply” in 2015.
• The Brookings Institution paid me an honorarium for the working paper “Government Debt Management at the Zero Lower Bound” in 2014.
Paid speaking:
• HBS Investment Management Workshop, 2015-present.
• Speaker at Morgan Stanley Conference on Fixed Income Trading and Portfolio Management 2013.
Other:
• As part of my work at Harvard Business School, I regularly write cases about hedge funds, investment managers, and their strategies. I receive no compensation from these managers for writing these cases, and the cases are not meant as endorsements of the managers or their strategies.
• My research is and has been historically fully funded by the Division of Research at the Harvard Business School.
