Novy-Marx earned the Fama/DFA Prize for the best capital markets/asset pricing paper in the Journal of Financial Economics (2012 and 2013), the Smith-Breeden Prize for the best capital markets paper in the Journal of Finance (2011), the Spängler IQAM Prize for the best paper in the Review of Finance (2011), and the Mill's Prize for the best paper in Real Estate Economics. Novy-Marx is also a former professional triathlete, a member of the National Bureau of Economic Research and taught at the Booth School of Business before coming to the Simon School.
Empirical Asset PricingOptions and Futures with PythonPhD Workshop in Applied EconomicsOptions, Future & Derivatives
- Research Interests
Professor Novy-Marx’s research focuses primarily on empirical asset pricing, empirical methods, and public finance.
“Model Comparison with Transaction Costs.”2023Journal of FinanceIssue3Volume78Betting against betting against beta2022Journal of Financial EconomicsIssue1Volume143Comparing Cost-Mitigation Techniques2019Financial Analysts JournalIssue1Volume75A Taxonomy of Anomalies and their Trading Costs2016Review of Financial StudiesIssue1Volume29A Taxonomy of Anomalies and Their Trading Costs2016Review of Financial StudiesIssue1Volume29Economic and financial approaches to valuing pension liabilities2015Journal of Pension Economics and FinanceIssue02Volume14Pension Security Bonds2014Columbia University PressLinking Benefits to Investment Performance in US Public Pension Systems2014Journal of Public EconomicsVolume116Predicting anomaly performance with politics, the weather, global warming, sunspots, and the stars2014Journal of Financial EconomicsIssue2Volume112The Revenue Demands of Public Employee Pension Promises2014American Economic Journal: Economic PolicyIssue1Volume61Financial Valuation of PBGC Insurance with Market-Implied Default Probabilities2014Tax Policy and the EconomyIssue1Volume28The other side of value: The gross profitability premium2013Journal of Financial EconomicsIssue1Volume108Logical Implications of GASB's Methodology for Valuing Pension Liabilities2013Financial Analysts JournalIssue1Volume69Operating Leverage2011Review of FinanceIssue2011Volume15(1)The Crisis in Local Government Pensions in the United States2011Growing Old: Paying for Retirement and Institutional Money Management after the Financial Crisis / Brookings Institution Press with the Nomura Institute of Capital Markets ResearchIssueYasuyuki Fuchita, Richard Herring and Robert Litan (eds.)Hot and Cold Markets2009Real Estate EconomicsIssue2009Volume37(1)The Liabilities and Risks of State-Sponsored Pension Plans2009Journal of Economics PerspectivesIssue2009Volume23(4)An Equilibrium Model of Investment Under Uncertainty2007Review of Financial StudiesIssue2007Volume20(5)