Erik Loualiche
Associate Professor of Finance · Carlson School of Management · University of Minnesota
RESEARCH | DATA/SOFTWARE | DISCUSSIONS | BLOG | RA OPPORTUNITIES | OTHER
I am an Associate Professor of Finance at the University of Minnesota, Carlson School.
My research is on asset pricing; I work on demand systems in asset pricing, as well as on the role of international trade and exchange rates in finance.
My current work studies causal inference in asset pricing, exchange-rate transmission of monetary policy, and the q-theory of local governments.
Carlson School of Management
321 19th Avenue South, 3-269
Minneapolis, MN 55455
eloualic at umn dot edu
+1 612 625 5679
II. WORKING PAPERS ▪ Causal Inference for Asset Pricing (with Valentin Haddad, Zhiguo He, Paul Huebner, and Peter Kondor; download the paper) Outstanding Paper Award from the Swiss Finance Institute (2025) ▪ Monetary Policy Transmission through the Exchange Rate Factor Structure (with Alexandre Pecora, Fabricius Somogyi, and Colin Ward; download the paper) ▪ The q-theory of Local Governments (with Yicheng Wang; paper in preparation)
III. PUBLISHED PAPERS ▪ How Competitive is the Stock Market? Theory, Evidence from Portfolios, and Implications for the Rise of Passive Investing (with Valentin Haddad and Paul Huebner; download the paper) American Economic Review, March 2025 Winner of the Q Group's annual Jack Treynor Prize (2021) Best Paper on Financial Institutions (Elsevier Sponsored Award; WFA 2022) ▪ International Trade and the Risk in Bilateral Exchange Rates (with Ramin Hassan, Alexandre Pecora, and Colin Ward; download the paper) Journal of Financial Economics, 2023, 150:2 ▪ State and Local Government Employment in the COVID-19 Crisis (with Daniel Green; download the paper) Journal of Public Economics, January 2021, 193 ▪ Bubbles and the Value of Innovation (with Valentin Haddad and Paul Ho; download the paper) Journal of Financial Economics, July 2022, 145:1, Editor's Choice ▪ Buyout Activity: the Impact of Aggregate Discount Rates (with Valentin Haddad and Matthew Plosser; download the paper) Journal of Finance, February 2017, 72:1 ▪ The Globalization Risk Premium (with Jean-Noël Barrot and Julien Sauvagnat; download the paper) Journal of Finance, October 2019, 74:5 ▪ Asset Pricing with Entry and Imperfect Competition (Download the paper) Forthcoming at the Journal of Finance ▪ Import Competition and Household Debt (with Jean-Noël Barrot, Matthew Plosser, and Julien Sauvagnat; download the paper) Forthcoming at the Journal of Finance Best paper in Corporate Finance at the SFS Cavalcade 2017 ▪ Firm Networks in the Great Depression (with Chris Vickers and Nicolas L. Ziebarth; download the paper) Journal of Economic History, 2025
IV. OTHER WORK IN PROGRESS OR SHELVED ▪ The Case of the Disappearing Skewness (with Matthieu Gomez and Valentin Haddad; download the paper) ▪ Risk and Asset Composition (with Leonid Kogan and Dimitris Papanikolaou)
V. OTHER The Virtual Finance Workshop Discussions Data and Programs