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Laura L. Veldkamp

Laura L. Veldkamp

Joined Stern 2003

Leonard N. Stern School of Business
Kaufman Management Center
44 West Fourth Street, 7-77
New York, NY 10012

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Laura Veldkamp is a Professor of Economics at the Stern School of Business, New York University and a co-editor of the Journal of Economic Theory. Professor Veldkamp earned a B.A in applied mathematics and economics from Northwestern University, and a Ph.D. in economic analysis and policy from Stanford Graduate School of Business. She is a faculty research fellow for the National Bureau of Economic Research and the Centre for Economic and Policy Research, and a frequent consultant for the New York and Minneapolis Federal Reserve Banks. She is also the author of the textbook, Information Choice in Macroeconomics and Finance (Princeton University Press).

Professor Veldkamp’s research focuses on how individuals, investors and firms get their information, how that information affects the decisions they make, and how those decisions affect the macroeconomy and asset prices. Her recent work examines how people form beliefs about tail risk and how learning about tails, or disasters, can explain persistent low interest rates, volatile equity prices and secular stagnation.

Research Interests

  • Macroeconomics
  • Markets for information
  • Asset pricing

Courses Taught

  • Global Business Environment
  • Imperfect Information and Market Frictions

Academic Background

Ph.D., Economic Analysis & Policy, 2001
Stanford Business School

B.A., Applied Mathematics & Economics, 1996
Northwestern University

Awards & Appointments

Stanford University Hoover National Fellow 2010
Glucksman Institute Research Prize 3rd place 2009
Q-Group research competition Winner 2009
CEPR (Center for Economic Policy Research) Research Fellow 2009
Utah Winter Finance Conference Winner of the 2008 JP Morgan Prize for the best paper 2008
NBER (National Bureau for Economic Research) Faculty Research Fellow 2008
NYU Stern Jules I. Backman Faculty Fellow 2008
Glucksman Institute Research Prize 1st place 2006
Princeton University, Department of Economics Kenen Fellowship 2006
Financial Management Association Best Paper Prize in Investments  

Selected Publications

A. Fogli, L. Veldkamp (2011)
Nature or Nurture? Learning and the Geography of Female Labor Force Participation
Econometrica, forthcoming 2011

S. Van Nieuwerburgh, L. Veldkamp (2010)
Information Acquisition and Under-Diversification
Review of Economic Studies, April 2010, v. 77(2), p. 779-805

S. Van Nieuwerburgh, L. Veldkamp (2009)
Information Immobility and the Home Bias Puzzle

C. Hellwig, L. Veldkamp (2009)
Knowing What Others Know: Coordination Motives in Information Acquisition
Review of Economic Studies, 2009, v.76, pp.223-251

V. Skreta, L. Veldkamp (2009)
Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation
Journal of Monetary Economics, July 2009, v.56(5), p.678-695

J. Wolfers, L. Veldkamp (2007)
Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement
Journal of Monetary Economics, Sept 2007, v. 54(S), pp.37-55

L. Veldkamp (2006)
Media Frenzies in Markets for Financial Information
American Economic Review, June 2006, v.96(3), p.577-601

S. Van Nieuwerburgh, L. Veldkamp (2006)
Learning Asymmetries in Real Business Cycles
Journal of Monetary Economics, May 2006, 53(4), p. 753-772

L. Veldkamp (2006)
Information Markets and the Comovement of Asset Prices
Review of Economic Studies, July 2006, v.73(3), p.823-845

L. Veldkamp (2005)
Slow Boom, Sudden Crash
Journal of Economic Theory, October 2005, v.124(2), p.230-257