Prof. Dr. Michael Weber

Research Interests

Asset Pricing, Macroeconomics, International Finance, Household Finance



Estimating the Anomaly Baserate (with A. Chinco and A. Neuhierl), forthcoming. Journal of Financial Economics.

Signaling Safety (with R. Michaely and S. Rossi), forthcoming. Journal of Financial Economics.

Dissecting Anomalies Nonparametrically (with A. Neuhierl and J. Freyberger), forthcoming. Review of Financial Studies.

The Propagation of Monetary Policy Shocks in a Heterogeneous Production Economy (with E. Pasten and R. Schoenle), forthcoming. Journal of Monetary Economics.

Monetary Policy Communication, Policy Slope, and the Stock Market (with A. Neuhierl), 2019. Journal of Monetary Economics, Vol 108, p. 140 – 155.

Cognitive Abilities and Inflation Expectations (with F. D’Acunto, D. Hoang, and M. Paloviita), 2019. American Economic Review P&P.

Historical Antisemitism, Ethnic Specialization, and Financial Development (with F. D’Acunto and M. Prokopczuk), 2019. Review of Economic Studies, Vol 86, p. 1170 – 1206.

Unconventional Fiscal Policy (with F. D’Acunto and D. Hoang), 2018. American Economic Review P&P, Vol 108, p. 519 – 523.

Flexible Prices and Leverage (with F. D’Acunto, R. Liu, and C. Pflueger), 2018. Journal of Financial Economics, Vol 129(1), p. 46 – 68.

Cash Flow Duration and the Term Structure of Equity Returns, 2018. Journal of Financial Economics, Vol 128(3), p. 486 – 503.

Are Sticky Prices Costly? Evidence from the Stock Market (with Y. Gorodnichenko), 2016. American Economic Review, Vol 106(1), p. 165 – 199.

Conditional Risk Premia in Currency Markets and Other Asset Classes (with M. Lettau and M. Maggiori), 2014. Journal of Financial Economics, Vol 114(2), p. 197 – 225.

American Option Valuation: Implied Calibration of GARCH Pricing–Models (with M. Prokopczuk), 2011. Journal of Futures Markets, Vol 31(10), p. 971 – 994.



University of Chicago, Booth School of Business

  • Associate Professor of Finance, 2018 – Present
  • Assistant Professor of Finance, 2014 – 2018
  • Fama Research Fellow, 2018 – Present
  • William Cohen and Keenoy Faculty Scholar, 2017 – 2018
  • Newbauer Family Faculty Fellow, 2014 – 2015


Other Affiliations (Selection)

National Bureau of Economic Research

  • Faculty Research Fellow: Asset Pricing, Monetary Economics, 2016 – Present

Bureau of Labor Statistics Washington, D.C., USA

  • Visiting Researcher, 2012 – Present

European Central Bank Frankfurt, Germany

  • Research Consultant, 2018 – Present

Federal Reserve Bank of Cleveland Cleveland, USA

  • Research Associate, 2019 – Present

Karlsruhe Institute of Technology Karlsruhe, Germany

  • Visiting Scholar, 2016 – Present



University of California at Berkeley, Haas School of Business

  • Ph.D., Finance, 2014
  • M.Sc., Finance, 2011

University of Mannheim, Mannheim, Germany

  • Diplom Business Economics (with Distinction), 2009
  • Specializations: Finance, Econometrics, Statistics


Further Information