Featured Researcher: John H. Cochrane

John H. Cochrane directs the NBER's Program on Asset Pricing and is the Sigmund E. Edelstone Professor of Finance and Economics at the University of Chicago. He began his affiliation with the NBER in 1988 as a Faculty Research Fellow, was promoted to Research Associate in the Asset Pricing and Economic Fluctuations and Growth Programs in 1994, and became Director of the Asset Pricing Program in 1999.

Cochrane received an S.B. in physics from MIT in 1979 and a Ph.D. in economics from the University of California, Berkeley in 1986. He joined the University of Chicago's economics department in 1985 as an assistant professor, was promoted to associate professor in 1990, and became a professor in the University's Graduate School of Business in 1994. He received his named professorship in 1997.

In addition to his teaching and research, Cochrane is Editor of the Journal of Political Economy and a consultant to the research department of the Federal Reserve Bank of Chicago. Cochrane's research is split between macroeconomics and asset pricing. Most recently, he has been working on the fiscal theory of the price level, option pricing with imperfect replication, habit persistence and the predictability of returns, and a Ph.D. textbook.

Cochrane lives in the Hyde Park neighborhood near the University of Chicago with his wife, Elizabeth Fama, and children Sally, Eric, Gene, and Lydia. In rare spare time, he flies sailplanes competitively and windsurfs in the frigid waters of Lake Michigan.