Adrien Verdelhan is the Stephens Naphtal Professor of Finance and a Professor of Finance at the MIT Sloan School of Management.
His research focuses on measures of systematic risk in financial markets, particularly in currency and sovereign bond markets. Verdelhan’s work in international finance shows when and why exchange rates are risky, thus shedding light on the most well-known and puzzling currency trading strategy: the carry trade. His recent work focuses on arbitrage opportunities and the role of banking regulation. His research has been published notably in the American Economic Review, The Journal of Finance, and The Review of Financial Studies.
He is currently a Research Fellow of the National Bureau of Economic Research. He was elected Teacher of the Year in 2011, 2018, and 2020 by MIT Sloan students and received the Jamieson Prize for Excellence in Teaching in 2016.
He holds a PhD in economics from the University of Chicago.
Current Research Focus: Verdelhan's research focus is international finance with a particular interest in foreign exchange and bond markets. Current projects include the impact of exchange rates on firm’s decisions and outcomes, the share of systematic risk in bilateral exchange rates at high frequencies, the impact of financial intermediaries on exchange rate derivative pricing at the transaction level, the volatility of international capital flows, as well as the quantity and price of currency risk and sovereign risk in international equity and bond markets.
Adrien Verdelhan receives first prize
Verdelhan wins 2021 digital teaching award
Verdelhan wins Jamieson Prize
Featured Publication"The Share of Systematic Risk in Bilateral Exchange Rates."
Verdelhan, Adrien. Journal of Finance Vol. 73, No. 1 (2018): 375-418. SSRN Preprint.
Verdelhan, Adrien and Zaki Dernaoui, MIT Sloan Working Paper 6320-20. Cambridge, MA: MIT Sloan School of Management, February 2021.
Lustig, Hanno N. and Adrien Verdelhan. American Economic Review Vol. 109, No. 6 (2019): 2208-2244.
Fourel, Valère, Dagfinn Rime, Lucio Sarno, Maik Schmeling, and Adrien Verdelhan, Working Paper. April 2018.
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