About the Authors

Deborah Lucas is Professor of Finance at the Sloan School of Management at MIT, and a research associate at the NBER.  Her policy interests occasionally lure her from academia to Washington, and starting in October she will be back at the Congressional Budget Office for the year as their Associate Director for Financial Studies.  Past policy appointments include Chief Economist at the Congressional Budget Office (2000 – 2001), senior staff economist at the President’s Council of Economic Advisers in Washington D.C. (1992 – 1993), and member of the Social Security Technical Advisory Panel (1999 – 2000; 2006 – 2007).

Photo © Nathan Mandell

Photo © Nathan Mandell

Her recent research focuses on many of the topics that appear in this blog: federal financial institutions (e.g., Fannie & Freddie Mac, student loans, PBGC, federal credit and insurance programs), pension policy, how to improve government budgeting and accounting, and health care policy. She recently edited the forthcoming NBER book, Measuring and Managing Federal Financial Risk.

Professor Lucas was a member of  the Kellogg faculty between 1985 and 2009. She holds a BA, MA, and PhD in economics from the University of Chicago. Her research has been published in many leading academic journals and has received a number of top paper awards.  She is a member of the National Academy of Social Insurance, and an editor of the Journal of Money, Credit and Banking.  She has served on several corporate and non-profit boards.

Robert McDonald is the Erwin P. Nemmers Professor of Finance at the Kellogg School of Management at Northwestern University and has also served as department chair. Before joining Kellogg, he was a faculty member at Boston University and has been a visiting professor at the University of Chicago. He has taught courses in derivatives, corporate finance, and taxation.

Photo © Rich Forman

Photo © Rich Forman

Professor McDonald’s research interests include corporate finance, taxation, derivatives, and applications of option pricing theory to corporate investments. Several of his papers have won research awards, including the Graham and Dodd Scroll from the Financial Analyst’s Federation, the Iddo Sarnat Prize from the Journal of Banking and Finance, the Smith Breeden Prize from the Journal of Finance, and the Review of Financial Studies Prize from the Review of Financial Studies.

Professor McDonald is former Co-Editor of the Review of Financial Studies, and has served on a number of editorial boards, including those for the Journal of Finance, Management Science, and the Journal of Financial and Quantitative Analysis. He is the author of Derivatives Markets, now in its second edition, and Fundamentals of Derivatives Markets, both published Pearson Higher Education. He received a BA in Economics from the University of North Carolina and a Ph.D. in Economics from MIT.

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