Deborah J. Lucas


Deborah J. Lucas


Deborah Lucas is the Sloan Distinguished Professor of Finance at the MIT Sloan School of Management and Director of the MIT Golub Center for Finance and Policy.

Her current research focuses on developing and applying financial economics to evaluate the costs and risks of governments’ financial activities. She is also widely published in the fields of asset pricing and corporate finance.

Lucas is a Research Associate at the National Bureau of Economic Research, a Term Professor at the PBC School of Finance at Tsinghua University and a member of the Shadow Open Market Committee. She serves on advisory boards for the Federal Reserve Bank of New York and the Urban Institute, on the editorial board of the Annual Review of Financial Economics, and as an associate editor and for the American Economic Journal Policy. She is a board member of the Chicago Mercantile Exchange, and consultant for the OECD and the Congressional Budget Office. She is an elected member of the National Academy of Public Administration and the National Academy of Social Insurance.

Previous appointments include chief economist, and subsequently assistant and associate director at the U.S. Congressional Budget Office, member of the Social Security Technical Advisory Panel, senior staff economist for U.S. Council of Economic Advisers, Professor at the Kellogg School of Management at Northwestern University and coeditor of the JMCB. An expert on federal credit programs, she has testified before the U.S. Congress on Fannie Mae and Freddie Mac, student loans, and strategically important financial institutions.

Lucas received her BA, MA, and a PhD in economics from the University of Chicago.



"A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public Private Partnerships."

Lucas, Deborah J., and Jorge Jimenez Montesinos. In Economics of Infrastructure Investment, 1-33. Cambridge, MA: University of Chicago Press, Forthcoming.

"Towards Fair Value Accounting for Public Pensions: The Case for Delinking Disclosure and Funding Requirements."

Lucas, Deborah J. In Gathering Storm: The Risks of State Pension Underfunding, Cambridge, UK: Forthcoming.

"Funding Pandemic Relief: Monetise Now."

Gürkaynak, Refet, and Deborah Lucas. Vox, May 14, 2020.

"Inventory of Support for Fossil Fuels—Estimating the Support Component of Loan Guarantees and Preferential Loans."

Lucas, Deborah J., MIT Sloan Working Paper 5400-17. Cambridge, MA: MIT Sloan School of Management, December 2019.

"Measuring the Cost of Bailouts."

Lucas, Deborah J. Annual Review of Financial Economics Vol. 11, (2019): 85-108. Download Paper.

"The Student Loan Consolidation Option."

Lucas, Deborah J. and Damien Moore. Journal of Public Economics Vol. 174, (2019): 1-12.

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