John Y. Campbell, Morton L. and Carole S. Olshan Professor of Economics, Harvard University.

Previous Positions: Assistant Professor of Economics and Public Affairs, Princeton University, 1984–89; Class of 1926 Professor of Economics and Public Affairs, Princeton University, 1989–94; Otto Eckstein Professor of Applied Economics, Harvard University, 1994–2005.

Selected Publications: Books: The Econometrics of Financial Markets, with Andrew W. Lo and A. Craig MacKinlay, Princeton University Press, 1997; Strategic Asset Allocation: Portfolio Choice for Long-Term Investors, with Luis M. Viceira, Oxford University Press, 2002. Articles: “Stock Returns and the Term Structure”, JFE, 1987; “Cointegration and Tests of Present Value Models” with R.J. Shiller, JPE, 1987; “Does Saving Anticipate Declining Labor Income? An Alternative Test of the Permanent Income Hypothesis”, Econometrica, 1987; “Are Output Fluctuations Transitory?” with N.G. Mankiw, QJE, 1987; “The Dividend-Price Ratio and Expectations of Future Dividends and Discount Factors” with R.J.Shiller, RFS, 1988; “A Variance Decomposition for Stock Returns”, EJ, 1991; “Yield Spreads and Interest Rate Movements: A Bird's Eye View” with R.J. Shiller, RES, 1991; “Intertemporal Asset Pricing without Consumption Data”, AER, 1993; “Understanding Risk and Return”, JPE, 1996; “By Force of Habit: A Consumption-Based Explanation of Aggregate Stock Market Behavior” with J.H. Cochrane, JPE, 1999; “Consumption and Portfolio Decisions When Expected Returns are Time Varying” with L.M. Viceira, QJE, 1999; “Have Individual Stocks Become More Volatile? An Empirical Exploration of Idiosyncratic Risk” with M. Lettau, B. Malkiel, and Y. Xu, JF, 2001; “Who Should Buy Long-Term Bonds?” with L.M. Viceira, AER, 2001; “Household Risk Management and Optimal Mortgage Choice” with J. Cocco, QJE, 2003; “Bad Beta, Good Beta” with T. Vuolteenaho, AER, 2004; “Household Finance”, JF, 2006.

Offices and Awards : Presidential Young Investigator, National Science Foundation, 1988; Alfred P. Sloan Research Fellow, 1989; Fellow, Econometric Society, 1990; Director, Program in Asset Pricing, National Bureau of Economic Research, 1991; Leo Melamed Prize for Outstanding Scholarship, 1996; Association of American Publishers Award for Best Professional/Scholarly Book in Economics, 1997; Paul A. Samuelson Awards for Outstanding Scholarly Writing on Lifelong Financial Security, 1997 and 2002; Fame Research Award in Asset Management, 1999; Fellow, American Academy of Arts and Sciences, 2000; Roger F. Murray Prize, 2001; Smith Breeden Prize, 2001; Graham and Dodd Award, 2005; President, American Finance Association, 2005.

Leszek Balcerowicz, Professor, Warsaw School of Economics, and Director of the Chair of International Comparative Studies at WSE.

Previous positions: President of the National Bank of Poland, until January 2007; Chairman of the Center for Social and Economic Research, 1992-2000; Deputy Prime Minister and Minister of Finance in the first non-communist government in Poland after II World War, 1989-91; President of the Economic Committee of the Council of Ministers where he designed and executed the stabilization and transformation of the Polish economy, 1989-91; President of the Freedom Union, 1995-2000; Deputy Prime Minister, Minister of Finance, and President of the Economic Committee of the Council of Ministers, 1997-2000.

Awards: Lidwig Erhard Prize, 1992; “Finance Minister of the Year” title from Euromoney, 1998; “Transatlantic Leadership Award” for the most outstanding European personality, 1998; Central European Award for the Finance Minister of the Year, 1998; Friedrich von Hayek Prize, 2001; Carl Bertelsmann Prize for his achievements during the transformation of the Polish economy, 2001; Fasel Foundation prize for work on the social market economy, 2002; British monthly The Banker recognized him as central banker of the year for Europe, 2004; Granted the annual “Emerging Markets Award” for the best president of a central bank in Central and Eastern Europe, October 2004 .

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Joseph P. Daniels, Professor of Economics, Marquette University.

Previous Positions: Professor of Economics, Marquette University, 2006-present; Associate Professor of Economics, Marquette University, 1997-2006; Assistant Professor of Economics, Marquette University, 1990-1996; Fulbright Scholar, Trinity College, 1997-1998; Visiting Associate Professor of Economics, University of Toronto, 1997; Associate Instructor of Economics, Indiana University, 1986-1989.

Selected Publications: Books: Guiding Global Order: G8 Governance in the Twenty First Century, Ashgate Publishing, 2001; Shapinga a New International Financial System: Challenges of Governance in a Globalising World, Ashgate Publishing, 2001; The G8's Role in the New Millennium, Ashgate Pubblishing, 1999. Articles: “Openness, The Sacrifice Ratio, and Inflation: Is There a Puzzle?" Journal of International Money and Finance, 2006; "Openness, Central Bank Independence, and the Sacrifice Ratio," Journal of Money Credit and Banking, April 2005; "God and the Global Economy: Religion and Attitudes toward Trade and Immigration in the United States," Socio-Economic Review, 2005; "The Determinants of Immigration-Policy Preferences in Advance Economies: A Cross-Country Study," Atantic Economic Journal, 2003; "Optimal Sterilization Policies in Interdependent Economies," Journal of Economics and Business, 1997; "Economic Summit Declarations, 1975-1989: Examining the Written Record of International Coorporation," Princeton Studies in International Finance, No. 72, 1992 .

Awards: Marquette University, Excellence in Executive Education Award, 2006; Marquette University, College of Business Administration Miles Research Scholar, 2005-present; Marquette University Gettle Faculty Award for Teaching Excellence, 1999; Marquette University, College of Business Administration: Faculty Teaching Award, 1998; Fulbright Institute for International Education Research Scholar, 1997-1998; Indiana University, Lieber Memorial Award for Outstanding Instructor, 1989; Indiana University, Department of Economics: Outstanding Associate Instructor Award, 1998.