Why Identifying a Bubble Is So Much Trouble: John H. Cochrane

Cochrane has published articles on dynamics in stock and bond markets, the volatility of exchange rates, the term structure of interest rates, the returns to venture capital, liquidity premiums in stock prices, the relation between stock prices and business cycles, and option pricing. He also has written on monetary policy, the fiscal theory of the price level, macroeconomics, health insurance and other topics. He is president of the American Finance Association, a research associate of the National Bureau of Economic Research and past director of its asset pricing program, a fellow of the Econometric Society, and an adjunct scholar of the Cato Institute.