Itamar Drechsler

Itamar Drechsler is a finance professor at the Wharton School and a research associate of the National Bureau of Economic Research. He works in the areas of asset pricing, financial intermediation, and monetary policy. He is currently an associate editor of the Journal of Finance and the Journal of Political Economy. He graduated with a PhD in finance from the Wharton School and has an MA in mathematics and bachelor's degrees in finance, mathematics, and computer science from the University of Pennsylvania. Prior to returning to Wharton, he worked for nine years in the finance department at NYU's Stern School of Business.

Research

• Itamar Drechsler, Alexi Savov, Philipp Schnabl (Working), The Financial Origins of the Rise and Fall of American Inflation.
  
• Itamar Drechsler, Alexi Savov, Philipp Schnabl (Working), How Monetary Policy Shaped the Housing Boom.
  
• Itamar Drechsler, Alexi Savov, Phillip Schnabl (2018), Liquidity, Risk Premia, and the Financial Transmission of Monetary Policy, Annual Review of Financial Economics.
  
• Itamar Drechsler, Alexi Savov, Philip Schnabl (2018), Banking on Deposits: Maturity Transformation without Interest Rate Risk,.
  
• Itamar Drechsler, Alan Moreira, Alexi Savov (Working), Liquidity and Volatility.
  
• Itamar Drechsler, Alexi Savov, Philipp Schnabl (2018), A Model of Monetary Policy and Risk Premia, Journal of Finance.
  
• Itamar Drechsler, Alexi Savov, Philip Schnabl (2017), The Deposits Channel of Monetary Policy, Quarterly Journal of Economics.
  
• Itamar Drechsler, Thomas Drechsel, David Marques-Ibanez, Philipp Schnabl (2016), Who Borrows From the Lender of Last Resort, Journal of Finance.
  
• Itamar Drechsler and Freda Drechsler (Working), The Shorting Premium and Asset Pricing Anomalies.
  
• Itamar Drechsler, Viral Acharya, Philipp Schnabl (2014), A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk, Journal of Finance.
  
• Itamar Drechsler (2014), Risk Choice Under High-Water Marks, Review of Financial Studies.
  
• Itamar Drechsler (2013), Uncertainty, Time-Varying Fear, and Asset Prices, Journal of Finance.
  
• Itamar Drechsler (2012), Comment on: ’ambiguity shifts and the 2007-2008 financial crisis’ by Nina Boyarchenko, Journal of Monetary Economics.
  
• Itamar Drechsler and Amir Yaron (2011), What’s Vol Got To Do With It, Review of Financial Studies.
  

Areas of Research:

Asset Pricing, Financial Intermediation, Macro-finance, Monetary Policy

Honors, Awards, Scholarships:

• Yuki Arai Faculty Award for best finance paper at NYU Stern, 2020-2021
  
• Wharton Teaching Excellence Award, 2020
  
• 2018 Amundi Pioneer Prize (Distinguished Paper) for best capital markets paper in the Journal of Finance
  
• WFA Award for Best Paper on Financial Institutions, 2018
  
• Best Paper Award, FMA CBOE conference
  
• Yuki Arai Faculty Award for best finance paper at NYU Stern, 2017-2018
  
• Glucksman Prize for best paper, 2015-2016
  
• 2015 Best Paper Prize in Corporate Finance at the SFS Cavalcade
  
• 2014 Q Group Jack Treynor Prize
  
• 2013 Amundi Smith Breeden Prize (Distinguished Paper) for best capital markets paper in the Journal of Finance
  
• Glucksman Prize for best paper, 2011-2012
  
• Best paper award, 2009 Utah Winter Finance Conference
  
• Dean's Fellowship, 2008 (Competitive Award for Fifth Year Support)
  
• Rodney L. White Center Research Grant, 2007
  
• Dean’s Fellowship for Distinguished Merit, 2004-2007
  

Companies

• Ervin Miller and Arthur M. Freedman Professor of Finance The Wharton School (2021)
• Associate Professor Of Finance The Wharton School (2018 — 2021)
• Associate Professor Of Finance NYU Stern School of Business (2015 — 2018)
• Assistant Professor Of Finance NYU Stern School of Business (2009 — 2015)
• Analyst Susquehanna International Group, LLP (SIG) (2003 — 2004)

Education

• Doctor of Philosophy - PhD The Wharton School (2004 — 2009)
• MA University of Pennsylvania (2002 — 2003)
• BSE, BSEcon, BA University of Pennsylvania (1998 — 2002)