David Sraer
Associate Professor | James J. and Marianne B. Lowry Chair in Business | Haas School of Business, University of California, Berkeley
Berkeley, CA, UNITED STATES
Areas of Expertise (4)
Corporate Finance
Behavioral Finance
Macroeconomics
Entrepreneurship and Venture Capital
About
Berkeley Haas Associate Professor David Sraer received his BS in applied mathematics and economics from École Polytechnique in France in 2001 and his PhD in economics from the Toulouse School of Economics in 2007. He is currently an associate editor for the Journal of Finance and a research associate at the National Bureau of Economic Research. Before coming to Berkeley Haas, he was an Assistant Professor of economics at Princeton University, where he was awarded the Jacob Viner preceptorship.
Education (4)
Toulouse School of Economics: PhD, Economics
Ecole des Hautes Etudes en Sciences Sociales: MA, Economics
Ecole Nationale de la Statistique et de l’Administration Economique: MA, Statistics and Economics
Ecole Polytechnique: BA, Applied Mathematics and Economics
Links (3)
Honors & Awards (7)
Berkeley Haas "Club 6" member
Awarded to faculty members with a mean teaching score of at least six on a seven-point scale. 2017, 2018
Brattle Prize in Corporate Finance Distinguished Paper
2018
TCW Best Paper Award at the 2014 China International Conference in Finance
“Housing Collateral and Entrepreneurship” 2014
Jacob Viner University Preceptor at Princeton University
2013 - 2016
Spaengler IQAM Prize for Best Paper published in the Review of Finance
“Bottom-up Corporate Governance” 2013
TCW Best Paper Award at the 2012 China International Conference in Finance
“Speculative Betas" 2012
Louis Bachelier Prize for best paper in Finance
“Financial Risk Management: When does Independence Fail?” 2011
Selected External Service & Affiliations (3)
- Faculty Research Fellow, National Bureau of Economic Research
- Research Associate, Center for Economic Policy Research
- Associate Editor, Journal of Finance
Positions Held (1)
At Haas since 2014
2014 – present, Assistant Professor of Finance, Haas School of Business 2014 – present, Assistant Professor of Economics, UC Berkeley, Economics Department 2009 – 2014, Assistant Professor of Economics, Princeton University
Media Appearances (3)
The best way to get Americans back to work faster
CNN online
2020-04-09
We cannot simply "flatten the curve" for long enough that it becomes safe for everyone to go back to work at once, Assoc. Prof. David Sraer, the James J. and Marianne B. Lowry Chair in Business, co-writes in this op-ed.
Profitable Wobble
Institutional Money (German link) online
2018-07-29
Research by Assoc. Prof. David Sraer and Lecturer Eric Reiner has found that bad news, unlike previously thought, has implications over the medium term for the market.
Private Equity Doesn't Deserve Its Bad Reputation
Bloomberg online
2017-07-28
"A 2011 study by economists Quentin Boucly, David Sraer, and David Thesmar looked at 839 leveraged buyouts in France. Three years after the deals, the buyout targets saw their profitability increase relative to a control group of similar companies. But this profitability didn’t come from downsizing -- the buyout targets also grew faster than their peers, and they invested more..."
Working Papers (7)
The Aggregate Cost of Systematic Forecast Errors
D. Sraer, Yueran Ma, and David Thesmar 2018
A Sufficient Statistics Approach for Aggregating Firm-Level Experiments
D. Sraer and D. Thesmar 2018
Aggregate Effects of Collateral Constraints
R&R at Journal of Finance
D. Sraer, S. Catherine, T. Chaney, Z. Huang, and D. Thesmar
Bank Exposure to Interest-Rate Risk and the Transmission of Monetary Policy
D. Sraer, M. Gomez, D. Thesmar, and A. Landier
The Risk-Shifting Hypothesis
R&R at Management Science
D. Sraer, A. Landier, and D. Thesmar
Can Unemployment Insurance Spur Entrepreneurial Activity?
R&R at Journal of Finance
D. Sraer, J. Hombert, A. Schoar, and D. Thesmar
Selected Papers & Publications (9)
Inflation Bets on the Long Bond
The Review of Financial Studies
H. Hong, D. Sraer, J. Yu
2017
Banking Integration and House Price Comovement
Journal of Financial Economics
D. Sraer, A. Landier, D. Thesmar
2017
Housing Collateral and Entrepreneurship
Journal of Finance
D. Sraer, M. Schmalz and D. Thesmar
2017
Are Retail Traders compensated for Liquidity Provision?
Journal of Financial Economics
D. Sraer, J.N. Barrot and R. Kaniel
2016
The Collateral Channel: How Real Estate Shocks affect Corporate Investment
American Economic Review
Chaney, T., Sraer, D. and Thesmar, D
2012
Individual Investors and Volatility
Journal of Finance
Foucault, T., Sraer, D. and Thesmar, D.J.
2011
Teaching (3)
Behavioral Finance
MBA, MFE, and Undergrads
MFE 230S
Behavioral finance and inefficient markets
EWMBA 203
Introduction to Finance
Social