Adrien Verdelhan

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Adrien Verdelhan

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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.

Honors

Verdelhan wins 2021 digital teaching award

Verdelhan wins Amundi Pioneer Prize

Adrien Verdelhan receives first prize

Verdelhan wins Jamieson Prize

Publications

"A Habit-Based Explanation of the Exchange Rate Risk Premium."

Verdelhan, Adrien. Journal of Finance Vol. 65, No. 1 (2010): 123-145. Download Paper.

"Business Cycle Variation in the Risk-Return Trade-Off."

Lustig, Hanno and Adrien Verdelhan. Journal of Monetary Economics Vol. 59, (2012): 35-49. Appendix. Download Paper.

"Common Factors, Order Flows, and Exchange Rate Dynamics."

Fourel, Valère, Dagfinn Rime, Lucio Sarno, Maik Schmeling, and Adrien Verdelhan, Working Paper. 2018.

"Common Risk Factors in Currency Markets."

Lustig, Hanno, Nick Roussanov and Adrien Verdelhan. Review of Financial Studies Vol. 24, No. 11 (2011): 3731-3777. Download Paper.

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Executive Education

Executive Education Course

Fundamentals of Finance for the Technical Executive

This finance for executives program is designed to provide senior technical managers with the financial concepts, strategies, and tools needed to deal more effectively with corporate financial management. Course curriculum focuses on the fundamentals of finance and financial principles for project evaluation, funding, and resource allocation, helping leaders to work more effectively with financial decision makers and apply the principles of finance to short-term and long-range goals.

  • Jun 27–29, 2022
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