Pietro Veronesi

Pietro Veronesi conducts research that focuses on asset pricing, stock and bond valuation under Bayesian uncertainty and learning, and equilibrium models of return predictability. Veronesi is a research associate of the National Bureau of Economic Research and a research fellow of the Center for Economic and Policy Research. Veronesi teaches both masters- and PhD-level courses.

His work has appeared in numerous publications, including the Journal of Political Economy, Journal of Finance, Journal of Financial Economics, and Review of Financial Studies. Along with coauthor Lubos Pastor, he was honored at the European Finance Association Conference with the 2006 Barclays Global Investors Prize for Best Paper for "Technological Revolutions and Stock Prices." Their research explains why stock prices of innovative companies tend to exhibit bubble-like patterns during technological revolutions. He also has won one of the 2006 Fama/DFA prizes for the best article in the Journal of Financial Economics ; the 2003 Smith Breeden First Prize for the best article in asset pricing in the Journal of Finance; and the 1999 Barclays Global Investors/Michael Brennan First Prize for Best Article in the Review of Financial Studies.

Veronesi is a co-editor of the Review of Financial Studies as well as an associate editor of both the Journal of Financial Econometrics and the Journal of Financial and Quantitative Analysis. He is also on the advisory board of a number of journals and a referee for numerous more.

His undergraduate work was in economics at Bocconi University where he received a laurea magna cum laude with honor in 1992. He earned a master's degree with distinction in 1993 from the London School of Economics. He joined the Chicago Booth faculty upon obtaining his PhD in Economics from Harvard University in 1997.

Selected Publications

With L. Pastor, "Was There a Nasdaq Bubble in the Late 1990's?," Journal of Financial Economics (2006).

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With T. Santos, "Labor Income and Predictable Stock Returns," Review of Financial Studies (2006).

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With L. Pastor, "Rational IPO Waves," Journal of Finance (2005).

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With Lior Menzly and Tano Santos, "Undestanding Predictability," Journal of Political Economy (2004).

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With L. Pastor, "Stock Valuation and Learning about Profitability," Journal of Finance (2003).

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