John Young Campbell (born May 17, 1958) is a British-American

economist An economist is a professional and practitioner in the social sciences, social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy. Within this ...

who serves as the Morton L. and Carole S. Olshan Professor of Economics at

Harvard University Harvard University is a Private university, private Ivy League research university in Cambridge, Massachusetts, United States. Founded in 1636 and named for its first benefactor, the History of the Puritans in North America, Puritan clergyma ...

, where he has taught since 1994.

Biography

Early years

Born in

London London is the Capital city, capital and List of urban areas in the United Kingdom, largest city of both England and the United Kingdom, with a population of in . London metropolitan area, Its wider metropolitan area is the largest in Wester ...

, Campbell was educated at the

Dragon School The Dragon School is a private school across two sites in Oxford, England. The Dragon Pre-Prep (children aged 4–7) and Prep School (children aged 8–13) are both co-educational schools. The Dragon Prep School was founded in 1877 as the Oxfo ...

Winchester College Winchester College is an English Public school (United Kingdom), public school (a long-established fee-charging boarding school for pupils aged 13–18) with some provision for day school, day attendees, in Winchester, Hampshire, England. It wa ...

, and

Corpus Christi College, Oxford Corpus Christi College (formally, Corpus Christi College in the University of Oxford; informally abbreviated as Corpus or CCC) is one of the constituent colleges of the University of Oxford in the United Kingdom. Founded in 1517 by Richard Fo ...

, where he read PPE and took a

first First most commonly refers to: * First, the ordinal form of the number 1 First or 1st may also refer to: Acronyms * Faint Images of the Radio Sky at Twenty-Centimeters, an astronomical survey carried out by the Very Large Array * Far Infrared a ...

in 1979. From 1979 to 1984, he attended

Yale University Yale University is a Private university, private Ivy League research university in New Haven, Connecticut, United States. Founded in 1701, Yale is the List of Colonial Colleges, third-oldest institution of higher education in the United Stat ...

, receiving an

MPhil A Master of Philosophy (MPhil or PhM; Latin ' or ') is a postgraduate degree. The name of the degree is most often abbreviated MPhil (or, at times, as PhM in other countries). MPhil are awarded to postgraduate students after completing at least ...

in 1981, and a

PhD A Doctor of Philosophy (PhD, DPhil; or ) is a terminal degree that usually denotes the highest level of academic achievement in a given discipline and is awarded following a course of graduate study and original research. The name of the deg ...

in 1984. His thesis adviser at Yale was

Robert J. Shiller Robert James Shiller (born March 29, 1946) is an American economist, academic, and author. As of 2022, he served as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center fo ...

Academic career

From 1984 to 1994, Campbell taught at

Princeton University Princeton University is a private university, private Ivy League research university in Princeton, New Jersey, United States. Founded in 1746 in Elizabeth, New Jersey, Elizabeth as the College of New Jersey, Princeton is the List of Colonial ...

, where he was an

assistant professor Assistant professor is an academic rank just below the rank of an associate professor used in universities or colleges, mainly in the United States, Canada, Japan, and South Korea. Overview This position is generally taken after earning a doct ...

from 1984 to 1989, and the Class of 1926 Professor of Economics from 1989 to 1994. In 1994, he became the

Otto Eckstein Otto Eckstein (August 1, 1927 – March 22, 1984) was a German-American economist. He was a key developer and proponent of the theory of core inflation , which proposed that in determining accurate metrics of long run inflation, the transitory pr ...

Professor of Applied Economics at

, where he has remained ever since; he was named the Morton L. and Carole S. Olshan Professor of Economics in 2005, and held a Harvard College Professorship from 2006 to 2011. Campbell has been a research associate at the

NBER The National Bureau of Economic Research (NBER) is an American private nonprofit research organization "committed to undertaking and disseminating unbiased economic research among public policymakers, business professionals, and the academic co ...

since 1987, and was elected a

Fellow A fellow is a title and form of address for distinguished, learned, or skilled individuals in academia, medicine, research, and industry. The exact meaning of the term differs in each field. In learned society, learned or professional society, p ...

of the

Econometric Society The Econometric Society is an international society of academic economists interested in applying statistical tools in the practice of econometrics. It is an independent organization with no connections to societies of professional mathematicians o ...

in 1990. He was elected a Fellow of the

American Academy of Arts and Sciences The American Academy of Arts and Sciences (The Academy) is one of the oldest learned societies in the United States. It was founded in 1780 during the American Revolution by John Adams, John Hancock, James Bowdoin, Andrew Oliver, and other ...

in 2000, and served as President of the

American Finance Association The American Finance Association (AFA) is an academic organization whose focus is the study and promotion of knowledge of financial economics. It was formed in 1939. Its main publication, the ''Journal of Finance'', was first published in 1946. ...

in 2005. Campbell has received various honors, including: * Corresponding Fellow,

British Academy The British Academy for the Promotion of Historical, Philosophical and Philological Studies is the United Kingdom's national academy for the humanities and the social sciences. It was established in 1902 and received its royal charter in the sa ...

, 2009 * Honorary Fellow,

, 2008 * Paul A. Samuelson Award for Outstanding Scholarly Writing in Lifelong Financial Security,

TIAA-CREF The Teachers Insurance and Annuity Association of America-College Retirement Equities Fund (TIAA, formerly TIAA-CREF) is an American financial services organization that is a private provider of financial retirement services in the academic, resea ...

, with

Luis Viceira Luis M. Viceira is an American economist currently the George E. Bates Professor at Harvard Business School. He graduated from Autonomous University of Madrid and Harvard University Harvard University is a Private university, private Ivy ...

, 2002; with John Cochrane (Certificate of Excellence), 1999; with

Andrew Lo Andrew Wen-Chuan Lo (; born 1960) is a Hong Kong-born Taiwanese-American economist and academic who is the Charles E. and Susan T. Harris Professor of Finance at the MIT Sloan School of Management. Lo is the author of many academic articles in f ...

and

Craig MacKinlay Craig Mackinlay, Baron Mackinlay of Richborough, (born 7 October 1966), is a Conservative Party politician and businessman. He was Member of Parliament (MP) for South Thanet from 2015 to 2024. Initially a member of the UK Independence P ...

, 1997 *

Association of American Publishers The Association of American Publishers (AAP) is the national trade association of the American book publishing industry. AAP lobbies for book, journal and education publishers in the United States. AAP members include most of the major commercial ...

Award for Best Professional/Scholarly Book in Economics, with

and

, 1997 * Honorary doctorates from

BI Norwegian Business School BI Norwegian Business School () is a Norwegian specialized university that provides education and conducts research primarily in the fields of business and economics, marketing, strategy, management, and administration. BI is organized as a self ...

, 2018;

Copenhagen Business School Copenhagen Business School (Danish'': Handelshøjskolen i København'') often abbreviated and referred to as CBS (also in Danish), is a public university situated in Copenhagen, Denmark and is considered one of the most prestigious business scho ...

, 2015;

Maastricht University Maastricht University (abbreviated as UM; ) is a public university, public research university in Maastricht, Netherlands. Founded in 1976, it is the second youngest of the thirteen List of universities in the Netherlands, Dutch universities. In ...

, 2009;

Université Paris Dauphine Paris Dauphine University - PSL () is a Grande École and public institution of higher education and research based in Paris, France, Collegiate university, constituent college of PSL University. As of 2022, Dauphine has 9,400 students in 8 fields ...

, 2009 * President, International Atlantic Economic Society, 2008 His invited lectures include: *

Arrow An arrow is a fin-stabilized projectile launched by a bow. A typical arrow usually consists of a long, stiff, straight shaft with a weighty (and usually sharp and pointed) arrowhead attached to the front end, multiple fin-like stabilizers c ...

Lectures,

Stanford University Leland Stanford Junior University, commonly referred to as Stanford University, is a Private university, private research university in Stanford, California, United States. It was founded in 1885 by railroad magnate Leland Stanford (the eighth ...

, 2017 * Ely Lecture,

American Economic Association The American Economic Association (AEA) is a learned society in the field of economics, with approximately 23,000 members. It publishes several peer-reviewed journals, including the Journal of Economic Literature, American Economic Review, an ...

, 2016 * Princeton Lectures in Finance, 2008 * Presidential Address,

, 2006 * Joint Luncheon Address to the

and the

, 2002 * Marshall Lectures,

University of Cambridge The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...

, 2001 * Clarendon Lectures,

University of Oxford The University of Oxford is a collegiate university, collegiate research university in Oxford, England. There is evidence of teaching as early as 1096, making it the oldest university in the English-speaking world and the List of oldest un ...

, 1999

Personal life

Campbell is married with four adult children and two grandchildren. He lives in

Lexington, Massachusetts Lexington is a suburban town in Middlesex County, Massachusetts, United States, located 10 miles (16 km) from Downtown Boston. The population was 34,454 as of the 2020 United States census, 2020 census. The area was originally inhabited by ...

Activities

Campbell is known for his research in

financial economics Financial economics is the branch of economics characterized by a "concentration on monetary activities", in which "money of one type or another is likely to appear on ''both sides'' of a trade".William F. Sharpe"Financial Economics", in Its co ...

macroeconomics Macroeconomics is a branch of economics that deals with the performance, structure, behavior, and decision-making of an economy as a whole. This includes regional, national, and global economies. Macroeconomists study topics such as output (econ ...

, and

econometrics Econometrics is an application of statistical methods to economic data in order to give empirical content to economic relationships. M. Hashem Pesaran (1987). "Econometrics", '' The New Palgrave: A Dictionary of Economics'', v. 2, p. 8 p. 8 ...

. He concentrates on

asset pricing In financial economics, asset pricing refers to a formal treatment and development of two interrelated Price, pricing principles, outlined below, together with the resultant models. There have been many models developed for different situations, ...

, portfolio choice for long-term investors, and household finance. Campbell co-edited the ''

American Economic Review The ''American Economic Review'' is a monthly peer-reviewed academic journal first published by the American Economic Association in 1911. The current editor-in-chief is Erzo FP Luttmer, a professor of economics at Dartmouth College. The journal is ...

'' from 1991 to 1993 and edited the ''

Review of Economics and Statistics ''The Review of Economics and Statistics'' is a peer-reviewed academic journal that covers applied economics, with specific relevance to the scope of econometrics. The editors-in-chief are Will Dobbie (Harvard University) and Raymond Fisman (Bost ...

'' from 1996 to 2002. He served on the executive committee of the

from 2016 to 2018, and chaired the Association's Ad Hoc Committee to Consider a Code of Professional Conduct during this period. Campbell was Chairman of the Department of Economics at Harvard from 2009 to 2012 and served on the board of the Harvard Management Company from 2004 to 2011. He co-founded Arrowstreet Capital, a quantitative

asset management Asset management is a systematic approach to the governance and realization of all value for which a group or entity is responsible. It may apply both to tangible assets (physical objects such as complex process or manufacturing plants, infrastr ...

company, in 1999 and co-directed the firm's research through 2023.

Books

*''Fixed: Why Personal Finance is Broken and How to Make It Work for Everyone'' (with Tarun Ramadorai, forthcoming Princeton University Press 2025); *''Financial Decisions and Markets: A Course in Asset Pricing'' (PUP 2018); *''The Squam Lake Report: Fixing the Financial System'' (with the Squam Lake Group of financial economists, PUP 2010); *''Strategic Asset Allocation: Portfolio Choice for Long-Term Investors ''(with Luis Viceira, Oxford University Press 2002); *''The Econometrics of Financial Markets'' (with Andrew Lo and Craig MacKinlay, PUP 1997).

References

External links

John Y. Campbell at Harvard University

CV of John Y. Campbell

Books published by John Y. Campbell
{{DEFAULTSORT:Campbell, John Y. 1958 births 21st-century American economists Alumni of Corpus Christi College, Oxford American businesspeople British economists Corresponding fellows of the British Academy English emigrants to the United States Fellows of the American Academy of Arts and Sciences Fellows of the British Academy Fellows of the Econometric Society Living people People educated at The Dragon School People educated at Winchester College Yale Graduate School of Arts and Sciences alumni Financial economists Harvard University faculty Presidents of the American Finance Association Princeton University faculty People from Lexington, Massachusetts