John H. Cochrane

Rose-Marie and Jack Anderson Senior Fellow

The Hoover Institution at Stanford University

JOHN H. COCHRANE  is the Rose-Marie and Jack Anderson Senior Fellow of the Hoover Institution at Stanford University. His publications include the books The Fiscal Theory of the Price Level and Asset Pricing. He has written articles on monetary policy, inflation, dynamics in stock, bond, option and foreign exchange markets, and their relation to  business cycles, macroeconomics, health insurance, time-series econometrics, financial regulation, and other topics. He writes occasional Op-eds, mostly in the Wall Street Journal, blogs as “the Grumpy Economist” at and as part of the Hoover Goodfellows video/podcast with H.R. McMaster and Niall Ferguson.  Cochrane is also a Senior Fellow of the Stanford Institute for Economic Policy Research (SIEPR), Professor of Finance and Economics (by Courtesy) at Stanford GSB, a Research Associate of the National Bureau of Economic Research and former director of its Asset Pricing program, and an Adjunct Scholar of the CATO Institute. He is a past President and Fellow of the American Finance Association, and a Fellow of the Econometric Society. He has been an Editor of numerous journals including the Journal of Political Economy. Awards include the Bradley Prize, the TIAA-CREF Institute Paul A. Samuelson Award for Asset Pricing, the Chookaszian Endowed Risk Management Prize, the Faculty Excellence Award for MBA teaching and the McKinsey Award for Outstanding Teaching. Previously, Cochrane was the AQR Capital Management Distinguished Service Professor of Finance at the University of Chicago Booth School of Business, and before that at its economics department. Cochrane earned a Bachelor’s degree in Physics at MIT, and a Ph.D. in Economics at the University of California at Berkeley.  Outside of academic and economic pursuits, Cochrane is a competition sailplane pilot, and enjoys cycling, windsurfing, skiing, and other outdoor activities.