International recognition for finance paper

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Reader in Finance Dr Hening Liu’s research paper Growth Uncertainty, Generalized Disappointment Aversion and Production-based Asset Pricing was accepted at the Carnegie-Rochester-NYU Conference on Public Policy, a top international conference in macroeconomics and finance.

It is well known that standard real business cycle models fail to explain asset prices data in financial markets. The contribution of Hening’s research is to explain puzzles in the working of the market, together with salient features of the business cycle.

Other recent highlights of Hening’s work include Ambiguity Aversion and Asset Prices in Production Economies, published in the Review of Financial Studies, and Ambiguity Aversion and Under-diversification, forthcoming in the Journal of Financial and Quantitative Analysis.

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Manchester Business School has a global reputation for innovative and influential teaching and research, which impacts business on a local, national and international level. We call this Original Thinking Applied.

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