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Jackson Hole Finance Group

16th Jackson Hole Finance Group Conference

Jackson Hole, WY January 14 – 16, 2023

Co-sponsored with Wells Fargo Center for Corporate Finance at UNC Chapel Hill and Society for Financial Studies.
Organized in collaboration with The Review of Corporate Finance Studies (RCFS) and The Review of Asset Pricing Studies (RAPS)


Those attending will need to present proof of full vaccination with a vaccine authorized by the U.S. Centers for Disease Control and Prevention (CDC) or the World Health Organization (WHO) in order to register for the meeting.



Snake River Lodge & SPA

Friday, January 13
5:30 – 6:30 p.m. Welcome Reception in Sundance South


Saturday, January 14
7:30 a.m. – 7:45 a.m. Breakfast in Sundance
7:45 a.m. – 8:30 a.m. Session I: Firm growth

Opening remarks:
Session Chair: Matt Spiegel

Why Small Firms Fail to Adopt Profitable Opportunities by Paul Gertler, Sean Higgins, Ulrike Malmendier, Waldo Ojeda

5:00 p.m. Cocktails in Sundance
5:15 .pm. – 6:45 p.m. Session II: Economic Policy
Session Chair: Debbie Lucas

International Capital Markets and Wealth Transfers by Magnus Dahlquist, Christian Heyerdahl-Larsen, Anna Pavlova, Julien P´enasse

Whatever It Takes? The Impact of Conditional Policy Promises by Valentin Haddad, Alan Moreira, Tyler Muir

7:00 p.m. – 9:00 p.m. Conference dinner – Gamefish Restaurant (Snake River Lodge & SPA)


Sunday, January 15
7:00 a.m. – 7:15 a.m. Breakfast in Sundance
7:15 a.m. – 8:45 a.m. Session III: Asset pricing
Session Chair: Anjan Thakor

Is Physical Climate Risk Priced? Evidence from Regional Variation in Exposure to Heat Stress by Viral V Acharya, Tim Johnson, Suresh Sundaresan, Tuomas Tomunen

Book-to-Market, Mispricing, and the Cross-Section of Corporate Bond Returns by Söhnke M. Bartram, Mark Grinblatt, Yoshio Nozawa

5:00 p.m. Cocktails in Sundance
5:15 p.m. – 6:45 p.m. Session IV: Trading
Session Chair: Mark Grinblatt

Dancing to the Same Tune: Commonality in Securities Lending Fees by Spencer Andrews, Christian Lundblad, Adam Reed

Conservative Holdings, Aggressive Trades: Ambiguity, Learning, and Equilibrium Flows by Thomas Dangl, Lorenzo Garlappi, Alex Weissensteiner

Monday, January 16
7:00 a.m. – 7:15 a.m. Breakfast in Sundance
7:15 a.m. – 8:45 a.m. Session V: Labor and capital
Session Chair: Isil Erel

The Impact of Money in Politics on Labor and Capital: Evidence from Citizens United v. FEC by Pat Akey, Tania Babina, Greg Buchak, Ana-Maria Tenekedjieva

Technology, Vintage-Specific Human Capital, and Labor Displacement: Evidence from Linking Patents with Occupations by Leonid Kogan, Dimitris Papanikolaou, Lawrence D. W. Schmidt, Bryan Seegmiller

Conference Organizers

Paolo Fulghieri and Camelia Kuhnen
University of North Carolina at Chapel Hill

Conference Venue

Snake River Lodge & SPA
7710 Granite Loop Road
Teton Village, WY 83025

Program Committee 

Jonathan Berk, Stanford University

Andrea Eisfeldt, UCLA

Isil Erel, Ohio State University

Paolo Fulghieri, University of North Carolina

Mark Grinblatt, UCLA

Camelia Kuhnen, University of North Carolina

Deborah Lucas, Massachusetts Institute of Technology

Lubos Pastor, University of Chicago

Adriano Rampini, Duke University

Anil Shivdasani, Citi Group

Matt Spiegel, Yale University

Anjan Thakor, Washington University

Stijn Van Nieuwerburgh, Columbia University

Contact for Administrative Questions

Marion Strandh
Conference Manager
UNC’s Kenan-Flagler Business School
CB #3440, Kenan Center, #300
Chapel Hill, NC 27599
(O) 919-962-3174
(C) 919-452-3996

JH Weather

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