Tobias J. Moskowitz

摘要

Tobias Moskowitz's research exemplifies the Fischer Black hallmarks of novelty and relevance. Characterized by the ingenious and careful use of newly available data, Moskowitz's work addresses fundamental questions in almost every aspect of financial economics. He has studied topics as diverse as momentum in stock returns, local bias in portfolio choice, the return to private business ownership, the trading and financing of commercial real estate, the social effects of bank mergers, and the political economy of financial regulation. At the core of his research are tests of theories of investment behavior and financial structure using clever empirical designs that circumvent the typical problem that much less information is available to the researcher than to market participants.