John Donaldson
- Mario J. Gabelli Professor of Finance
- Economics Division
- Areas of Expertise
- Globalization, Macroeconomics
- Contact
- Office: 523 Kravis
- Phone: (212) 8544436
- E-mail: [email protected]
Professor Donaldson teaches courses in basic finance and options. He focuses on business cycles and asset pricing, with a particular emphasis on the real side of the economy’s impact on equilibrium pricing of financial assets. His work has appeared in numerous professional journals, including the Journal of Economic Dynamics and Control, Econometrica, the Journal of Economic Theory and the Journal of Monetary Economics.
- Education
-
BS, Lafayette, 1970; MS, Carnegie Mellon, 1972; MS, 1974; PhD, 1976
- Joined CBS
- 1977
All Activities
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Executive Compensation: A General Equilibrium Perspective.”
Review of Economic Dynamics
vol.
18
,
no.
2
(April 01, 2015):
269
.
Journal Article
.
“Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts.”
Journal of Economic Theory
vol.
148
,
no.
1
(January 01, 2013):
31
-63
.
Journal Article
.
“Junior is Rich: Bequests as Consumption.”
Economic Theory
vol.
32
,
no.
1
(July 01, 2007):
125
-155
.
Journal Article
.
“Junior Must Pay: Pricing the Implicit Put in Privatizing Social Security.”
Annals of Finance
vol.
1
,
no.
1
(January 01, 2005):
1
-34
.
Journal Article
.
“General Equilibrium, Incomplete Markets and Sunspots: A Symposium in Honor of David Cass: Guest Editors' Introduction.”
Economic Theory
vol.
24
,
no.
3
(October 01, 2004):
465
-468
.
Journal Article
.
“On the Consequence of State Dependent Preferences for the Pricing of Financial Assets.”
Finance Research Letters
vol.
1
,
no.
3
(September 01, 2004):
143
-153
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“A Note on NNS Models: Introducing Physical Capital and Avoiding Rationing.”
Economics Letters
vol.
77
,
no.
3
(November 01, 2002):
433
-437
.
Journal Article
.
“Junior Can't Borrow: A New Perspective on the Equity Premium Puzzle.”
The Quarterly Journal of Economics
vol.
117
,
no.
1
(February 01, 2002):
269
-296
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Labour Relations and Asset Returns.”
The Review of Economic Studies
vol.
69
,
no.
1
(January 01, 2002):
41
-64
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Non Falsified Expectations and General Equilibrium Asset Pricing: The Power of the Peso.”
The Economic Journal (London)
vol.
109
,
no.
458
(October 01, 1999):
607
-635
.
Journal Article
.
“Productivity Growth, Consumer Confidence, and the Business Cycle.”
European Economic Review
vol.
42
,
no.
6
(June 01, 1998):
1113
-1140
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Methodological and Empirical Issues in Real Business Cycle Theory.”
European Economic Review
vol.
37
,
no.
1
(January 01, 1993):
1
-35
.
Journal Article
.
“The Equity Premium and the Allocation of Income Risk.”
Journal of Economic Dynamics & Control
vol.
16
,
no.
3-4
(July 01, 1992):
509
-532
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Risk Sharing and the Business Cycle.”
European Economic Review
vol.
36
,
no.
2-3
(April 01, 1992):
468
-475
.
Journal Article
.
“El Compoartamients de Ia Estructura Temporal de los Tipos de lnteres en un Modelo de Ciclos Economicos.”
Cuadernos Economicos de ICE
vol.
49
,
no.
3
(January 01, 1991):
89
-120
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Efficiency Wages and the Business Cycle Puzzle.”
European Economic Review
vol.
34
,
no.
7
(November 01, 1990):
1275
-1301
.
Journal Article
.
“On the Term Structure of Interest Rates.”
Journal of Economic Dynamics and Control
vol.
14
,
no.
3-4
(January 01, 1990):
571
-596
.
Journal Article
.
“On Some Computational Aspects of Equilibrium Business Cycle Theory.”
Journal of Economic Dynamics and Control
vol.
13
,
no.
3
(July 01, 1989):
449
-470
.
Journal Article
.
“On the Superneutrality of Money in a Non-stochastic Dynamic Macroeconomic Model.”
Journal of Monetary Economics
vol.
20
,
no.
3
(December 01, 1987):
475
-499
.
Journal Article
.
“On the Superneutrality of Money in a Stochastic Dynamic Macroeconomic Model.”
Journal of Monetary Economics
vol.
20
,
no.
3
(December 01, 1987):
475
-499
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Inflation and Asset Prices in an Exchange Economy.”
Econometrica
vol.
54
,
no.
3
(May 01, 1986):
585
-605
.
Journal Article
Donaldson, John and Thore Johnsen
.
“The Structure of lntertemporal Preferences Under Uncertainty and Time Consistent Plans.”
Econometrica
vol.
53
,
no.
6
(November 01, 1985):
1451
-1458
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“A Note on The Effects of Capital Income Taxation on the Dynamics of a Competitive Economy.”
Journal of Public Economics
vol.
28
,
no.
2
(November 01, 1985):
255
-265
.
Journal Article
Donaldson, John and Rajnish Mehra
.
“Comparative Dynamics of an Equilibrium lntertemporal Asset Pricing Model.”
Review of Economic Studies
vol.
51
,
no.
3
(July 01, 1984):
491
-508
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Investment, Stability, and Taxation in a Long Run Macro-economic Model.”
Journal of Economic Dynamics and Control
vol.
7
,
(January 01, 1984):
79
-110
.
Journal Article
.
“On the Impact of Shock Persistence on the Dynamics of A Recursive Economy.”
European Economic Review
vol.
22
,
no.
2
(July 01, 1983):
147
-166
.
Journal Article
.
“A Note on Value Maximization for Consumption Sets in I.”
Journal of Economic Theory
vol.
30
,
no.
1
(June 01, 1983):
191
-200
.
Journal Article
Donaldson, John and Rajnish Mehra
.
“Stochastic Growth with Correlated Production Shocks.”
Journal of Economic Theory
vol.
29
,
no.
2
(January 01, 1983):
282
-312
.
Journal Article
.
“A Generalized Value Maximization Condition for Growth Paths with Finite Total Consumption Possibilities.”
International Economic Review
vol.
23
,
no.
2
(June 01, 1982):
337
-352
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Stochastic Properties of Fast vs. Slow Growth Economies.”
Econometrica
vol.
49
,
no.
4
(July 01, 1981):
1007
-1033
.
Journal Article
Donaldson, John and Jean-Pierre Danthine
.
“Certainty Planning in an Uncertain World: A Reconsideration.”
The Review of Economic Studies
vol.
48
,
no.
3
(July 01, 1981):
507
-510
.
Journal Article
.
“A Note on the Recoverability and Uniqueness of Changing Tastes.”
Economics Letters
vol.
7
,
(January 01, 1981):
105
-112
.
Journal Article
.
“A Note on the Divergence Between Ex Ante and Ex Post Optimality.”
Economic Letters
vol.
9
,
(January 01, 1981):
209
-216
.
Journal Article
.
“Arrow-Debreu Preferences and the Reopening of Contingent Claims Markets.”
Economics Letters
vol.
8
,
(January 01, 1981):
209
-216
.
Journal Article
.
“On the Recoverability and Uniqueness of Changing Tastes in a Consumption-Savings Setting.”
Economic Letters
vol.
8
,
(January 01, 1981):
105
-112
.
Journal Article
.
“Economic Rationalization of Fisheries: The Problem of Conflicting National Interest on Georges Bank.”
Ocean Development and International Law
vol.
8
,
no.
2
(January 01, 1980):
149
-169
.
Working Paper
Donaldson, John and Hyung Seok E. Kim
.
The Macroeconomics of Stakeholder Equilibria*. Forthcoming.
Working Paper
Donaldson, John and Hyung Seok Eric Kim
.
Shimer Meets the Production Based Asset Pricing Crowd: Labor Search and Asset Returns. April 05, 2011.
Working Paper
.
Executive Compensation: Salary vs. Incentive Pay: An Inconvenient Truth. September 03, 2010.
Working Paper
.
Equilibrium Impact of Demographic Changes on Asset Prices. March 23, 2010.
Working Paper
Donaldson, John and Natalia Gershun
.
Some Unpleasant General Equilibrium Implications of Executive Incentive Compensation Contracts. January 01, 2010.
Working Paper
Donaldson, John and Jean-Pierre Danthine
.
Executive Compensation and Stock Options: An Inconvenient Truth. January 01, 2008.
Working Paper
Donaldson, John and Jean-Pierre Danthine
.
Macroeconomic Frictions: What Have We Learned from the Real Business Cycle Research Program. January 01, 1999.
Working Paper
Donaldson, John and Jean-Pierre Danthine
.
Computing Equilibria of Non-Optimal Economies. January 01, 1993.
Working Paper
Donaldson, John and R. Mehra
.
Dynamic Decentralization. January 01, 1991.
Working Paper
Donaldson, John and J. Dutta
.
Anticipation and the Aggregation of Sector Specific Shocks. January 01, 1986.
Working Paper
Donaldson, John and Jean-Pierre Danthine
.
The Effects of Government Spending and Monetary Growth on Security and Commodity Price Dynamics. July 01, 1984.
Book
Donaldson, John and Jean-Pierre Danthine
.
Intermediate Financial Theory. Elsevier Science & Technology
,
2005.
Book
Donaldson, John and Jean-Pierre Danthine
.
Intermediate Finance. Englewood Cliffs, N.J.
:
Prentice Hall
,
2001.
Chapter
Donaldson, John and Rajnish Mehra
.
“Risk Based Explanations of the Equity Risk Premium.”
In Handbook of the Equity Risk Premium
,
edited by Rajnish Mehra
,
37
-99
.
Amsterdam
:
Elsevier B.V.
,
2008.
Chapter
.
“Distribution Risk and Equity Returns.”
In
Handbook of the Equity Risk Premium
,
edited by Rajnish Mehra
,
415
-462
.
Amsterdam
:
Elsevier B.V.
,
2008.
Course
B5201: Global Economic Environment
Course
B5008: Markets and the Economy
Article
My Work Is My Bond? A Financial-Asset Approach to Wage Contracts Could Lessen Inequality
Article
New Study Proposes Unique Model to Address Wealth Inequality
This faculty member has no associated CaseWorks cases currently.