Pierluigi Balduzzi

Pierluigi Balduzzi is a professor of finance at the Carroll School of Management. He holds an undergraduate degree in Economics (DES) from Bocconi University, Milan, and a Ph.D. in Economics from UCLA. Prior to joining Boston College, he was assistant professor of Finance at NYU-Stern. His main area of research is empirical asset pricing. His research has appeared in leading finance and economics journals, such as the Journal of Finance, the Journal of Financial Economics, and the American Economic Review. He currently serves as an Associate Editor of the Journal of Business and Economic Statistics.

His professional experiences include an internship at the International Monetary Fund, consulting for the Social Security Administration, executive teaching at Credit Suisse-First Boston, and serving on the board of advisors of Polaris Investments.

He has presented his research at leading academic conferences as well as non-academic institutions, such as Goldman Sachs, Deutsche Bank, the Board of Governors of the Federal Reserve, and the European Central Bank.

EDUCATION

• Ph.D., University of California at Los Angeles (UCLA)
  
• B.A., Bocconi University

RESEARCH INTERESTS

models for asset management; tests of equilibrium asset-pricing models; fixed-income markets; international finance; and household finance.

EXPERTISE

• Asset pricing Investments
• Financial institutions Asset Management
• Capital markets
• Financial institutions Banking
• Household finance

PUBLICATIONS

• "U.S. Treasury Market: The High-frequency Evidence." With F. Moneta.) Handbook of Fixed Income Securities, Veronesi ed., Wiley (2016).
• "A Simple Test of the Affine Class of Term-structure Models." (With E. Chiang.) Review of Asset Pricing Studies 2 (2012), 203–244.
• “Asset-pricing Models and Economic Risk Premia: A Decomposition.” (With Cesare Robotti.) Journal of Empirical Finance, 17 (2010), 54-80.
• “Mimicking Portfolios, Economic Risk Premia, and Tests of Multi-beta Models.” (With Cesare Robotti.) Journal of Business and Economic Statistics, 26 (2008), 354-368.
• “Money and Asset Prices in a Continuous-time Lucas and Stokey Cash-in-advance Economy.” Journal of Economic Dynamics and Control, 31 (2007), 2713-2743.
• “Testing Heterogeneous-agent Models: An Alternative Aggregation Approach.” (With T. Yao.) Journal of Monetary Economics, 54 (2007), 369-412.
• "Portfolio Choice and Trading in a Large 401 (k) Plan." (With J. Agnew and A. Sunden.) American Economic Review, 93 (2003) 193-205.