Festschrift Symposium

honoring Andy Abel


October 14-15, 2022




Select guests are invited to attend 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 will take place at the Wharton School over two half-days and will feature presentations of invited research articles, and dinner. (View the  full program below.)

All sessions will be held in  Jon M.  Huntsman Hall (JMHH)

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
Tom Sargent, Professor of Economics, New York University
                        Senior Fellow, Hoover Institution

Taxes Depress Corporate Borrowing: Evidence from Private Firms
Toni  Whited, the Dale L. Dykema Professor of Business
                         Administration,  University of Michigan

3:00 pm

Session Two (JMHH 240)

Leverage and Recessions
Dick StartzProfessor of Economics, University of California at
                        Santa Barbara

Spatial Unit Roots
Mark Watson, Howard Harrison and Gabrielle Snyder Beck
                         Professor of Economics, Princeton University

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
John Campbell,  Morton L. and Carole S. Olshan
                        Professor of Economics, Harvard University

Can Financial Engineering Cure Cancer?
Andrew Lo,  The Charles E. and Susan T. Harris
                        Professor, MIT Sloan School of Management

11:00  am

Session Four (JMHH 8th Floor)

Runaway Inflation Resulting from Lagged Central-Bank Policy Responses
Bob Hall, Robert and Carole McNeil Joint Senior Fellow, Hoover
                        Institution, Stanford University and Professor, Stanford Economics

Funding Horizons, Interest Rates, and Growth
Nobuhiro Kiyotaki, Harold Helms ’20 Professor of Economics
                         Princeton University

12:30 pm

Concluding Comments by Andy Abel  and 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)

Please click here for hotel information.