Arvind Krishnamurthy

Research Statement

Arvind Krishnamurthy's research is in the areas of finance and macroeconomics. He has published research on financial intermediation, debt markets, housing markets, financial crises, monetary policy, and financial regulation. He has studied the causes and consequences of liquidity crises in emerging markets and developed economies, and the role of government policy in stabilizing crises. Recently he has been examining the importance of U.S. Treasury bonds and the dollar in the international monetary system.

Teaching Statement

Professor Krishnamurthy teaches about financial markets, monetary policy and the banking system.

Bio

Arvind Krishnamurthy is The John S. Osterweis Professor of Finance at the Stanford Graduate School of Business and a research associate at the National Bureau of Economic Research (NBER). He formerly taught at the Kellogg School of Management (1998-2014).

Professor Krishnamurthy studies finance, macroeconomics and monetary policy. He has studied the causes and consequences of liquidity crises in emerging markets and developed economies, and the role of government policy in stabilizing crises. Recently he has been examining the importance of U.S. Treasury bonds and the dollar in the international monetary system. He has published numerous journal articles and received awards for his research, including the Smith Breeden Prize for best paper published in the Journal of Finance, the Western Finance Association Corporate Finance Award, and the Swiss Finance Institute’s Outstanding Paper Award. Professor Krishnamurthy’s research on financial crises and monetary policy has received national media coverage and been cited by central banks around the world. He was formerly an associate editor at the Journal of Finance, American Economics Journals-Macroeconomics, and the American Economic Review. He did his undergraduate studies at the University of Pennsylvania and his doctoral work at the Massachusetts Institute of Technology.

Academic Degrees

• BS, Economics, BSE, Electrical Engineering, University of Pennsylvania, 1990
• PhD, Financial Economics, Massachussetts Institute of Technology, 1998

Academic Appointments

• John S. Osterweis Professor of Finance, Stanford Graduate School of Business, 2015–present
• Research Associate, NBER Asset Pricing, Economic Fluctuations and Growth, Monetary Economics, and International Finance and Macro Groups
• Professor of Finance, Stanford Graduate School of Business, 2014–15
• Harold Stuart Professor of Finance, Kellogg School of Management, 2007–14
• Associate Professor of Finance, Kellogg School of Management, 2005–07
• Assistant Professor of Finance, Kellogg School of Management, 1998–2005

Awards and Honors

• Lacob Family Faculty Fellow, 2015–16
• Smith Breeden Prize, 2008
• Western Finance Association Prize, 2003
• Swiss Finance Institute Outstanding Paper Award, 2012, 2015
• R. Michael Shanahan Faculty Fellow for 2020–21