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Motohiro Yogo




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Motohiro Yogo is a professor of economics at Princeton University. He is also a research associate of the NBER and a co-director of the NBER Insurance Working Group. Prior to joining Princeton in 2015, he held research and teaching positions at the Federal Reserve Bank of Minneapolis and Wharton. He earned a Ph.D. in economics from Harvard in 2004 and an A.B. summa cum laude from Princeton in 2000.


His fields of expertise are financial economics, insurance, and econometrics. His current research is on the impact of institutional investors on asset prices and on the importance of risk and regulation in insurance markets. His research has been supported by grants from the National Science Foundation, the National Institute on Aging, and the Social Security Administration. He has received various awards for his work including the Richard A. Crowell Memorial Prize, the Roger F. Murray Prize, Swiss Finance Institute Outstanding Paper Award, and the Zellner Thesis Award in Business and Economic Statistics.


Recent Minneapolis Fed Work

A Demand System Approach to Asset Pricing
July 2019 - Staff Report
Published In: Journal of Political Economy (Vol. 127, No. 4, August 2019, pp. 1475-1515)

Worker Betas: Five Facts about Systematic Earnings Risk
March 2017 - Staff Report
Published In: American Economic Review Papers and Proceedings (Vol. 107, No. 5, May 2017, pp. 398-403)

Shadow Insurance
May 2016 - Staff Report
Published In: Econometrica (Vol. 84, No. 3, May 2016, pp. 1265–1287)

Health and Mortality Delta: Assessing the Welfare Cost of Household Insurance Choice
December 2015 - Staff Report
Published In: Journal of Finance (Vol. 71, No. 2, April 2016, pp. 957-1010)

The Cost of Financial Frictions for Life Insurers
November 2014 - Staff Report
Published In: American Economic Review (Vol. 105, No. 1, January 2015, pp. 445-475)

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