Festschrift Symposium
honoring Andy Abel
October 14-15, 2022
Select guests attended a Festschrift Symposium in honor of Professor Andy Abel who will celebrate his 70th birthday in 2022. Over his extraordinary career Andy has made many seminal contributions to the theory of investment, asset pricing and our understanding of social security.
The Symposium took place at the Wharton School over two half-days and featured presentations of invited research articles, and dinner. (View the full program and presentations below.)
Friday, October 14, 2022
12 noon
Lunch (JMHH 2nd Floor Lounge)
1:00 pm
Session One (JMHH 240)
A p Theory of Taxes, Government Debt, and Inflation (Click here for slides.)
Tom Sargent, Professor of Economics, New York University
Senior Fellow, Hoover Institution
Video
Taxes Depress Corporate Borrowing: Evidence from Private Firms (Click here for slides.)
Toni Whited, the Dale L. Dykema Professor of Business
Administration, University of Michigan
3:00 pm
Session Two (JMHH 240)
Leverage and Recessions (Click here for slides.)
Dick Startz, Professor of Economics, University of California at
Santa Barbara
Video
Spatial Unit Roots (Click here for slides.)
Mark Watson, Howard Harrison and Gabrielle Snyder Beck
Professor of Economics, Princeton University
Video
5:30 pm
Cocktail Reception and Dinner (JMHH 8th Floor)
The evening will commence with comments by Andy Abel and feature tributes from:
- Olivier Blanchard, the C. Fred Bergsten Senior Fellow at the Peterson Institute for International Economics and the Robert M. Solow Professor of Economics Emeritus at the Massachusetts Institute of Technology
- Larry Summers, 71st United States Secretary of the Treasury; President Emeritus of Harvard University; Professor and Director of the Mossavar-Rahmani Center for Business and Government, Harvard University
Saturday, October 15, 2022
8:30 am
Continental Breakfast (JMHH 8th Floor)
9:00 am
Session Three (JMHH 8th Floor)
Sustainable Spending and Portfolio Choice (Click here for slides.)
John Campbell, Morton L. and Carole S. Olshan
Professor of Economics, Harvard University
Video
Can Financial Engineering Cure Cancer? (Click here for slides.)
Andrew Lo, The Charles E. and Susan T. Harris
Professor, MIT Sloan School of Management
Video
11:00 am
Session Four (JMHH 8th Floor)
Runaway Inflation Resulting from Lagged Central-Bank Policy Responses (Click here for slides.)
Bob Hall, Robert and Carole McNeil Joint Senior Fellow, Hoover
Institution, Stanford University and Professor, Stanford Economics
Department
Video
Funding Horizons, Interest Rates, and Growth (Click here for slides.)
Nobuhiro Kiyotaki, Harold Helms ’20 Professor of Economics
Princeton University
Video
12:30 pm
Concluding Comments by Andy Abel (Video)
Lunch (JMHH 8th Floor)
Organizing Committee
Janice Eberly (Northwestern University)
Joao Gomes (University of Pennsylvania)
Nobuhiro Kiyotaki (Princeton University)
Andrew Lo (Massachusetts Institute of Technology)
Stavros Panageas (University of California – Los Angeles)