Lasse Heje PedersenLasse Heje Pedersen is the John A. Paulson Professor of Finance and Alternative Investments at the New York University Stern School of Business and a principal at AQR Capital Management. He has been part of the Liquidity Working Group of the Federal eserve Bank of New York, the New York Fed's Monetary Policy Panel, the Board of Directors of the American Finance Association, the Economic Advisory Boards of NASDAQ and FTSE, and associate editor at the Journal of Finance, the Journal of Economic Theory, Review of Asset Pricing Studies, and the Quarterly Journal of Economics. His research explains how crises can arise from liquidity spirals and how market and funding liquidity risks explain equity returns, bond yields, option prices, and currency crashes. Professor Pedersen received the 2011 Bernacer Prize for the best European economist under the age of 40 in macroeconomics and finance. Read More Read Less