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  1. Directory
  2. Faculty
  3. Laura Veldkamp

Laura Veldkamp

Leon G. Cooperman Professor of Finance & Economics
Finance Division
Laura Veldkamp
Areas of Expertise
Macroeconomics
Contact
Office: 1181 Kravis
E-mail: [email protected]
Links
Curriculum Vitae

Laura Veldkamp is the Leon G. Cooperman Professor of Finance & Economics at Columbia University's Graduate School of Business, with an economics Ph.D. from Stanford. She has been a board member and chair of the governance committee for the American Finance Association, an editor of the Journal of Economic Theory and a frequent keynote speaker at prestigious academic conferences in both finance and economics. Currently, Professor Veldkamp serves on the American Economic Association’s awards committee and co-chairs the program committee for the annual conference of the Society for Financial Studies. Her accomplishments have earned her recognition as a fellow of the Econometric Society, the Society for the Advancement of Economic Theory, the Finance Theory Group, the National Bureau of Economic Research and the Centre for Economic and Policy Research. In the public sphere, she is an economic advisor for the New York Federal Reserve and the Bank of International Settlements. 

Professor Veldkamp’s research examines how investors’ or firms’ use of data and AI affect consumers, the macroeconomy, markups, economic measurement and financial valuations. She is an author of two textbooks: Information Choice in Macroeconomics and Finance, and The Data Economy: Tools and Applications (forthcoming), both with Princeton University Press.

Education
Ph.D. in Economic Analysis and Policy, 2001, Stanford Graduate School of Business; BA in Math and Economics, 1996, Northwestern University Bachelor of Arts in Math and Economics
Joined CBS
2018

All Activities

  • Research
  • Teaching
  • Awards and Honors
  • Press
  • CaseWorks
  • Journal articles
  • Working papers
  • Articles
  • Books
  • Chapters
Journal Article
Farboodi, Maryam, Dhruv Singal, Laura Veldkamp , and Venky Venkateswaran
. “Valuing Financial Data.” (Forthcoming).
Explore Further about Valuing Financial Data
Download PDF on Valuing Financial Data
Journal Article
Chung, Cindy and Laura Veldkamp
. “Data and the Aggregate Economy.”
Journal of Economic Literature
(Forthcoming).
Explore Further about Data and the Aggregate Economy
Download PDF on Data and the Aggregate Economy
Journal Article
Abis, Simona and Laura Veldkamp
. “The Changing Economics of Knowledge Production.”
The Review of Financial Studies
vol.
37
, no.
1
(January 01, 2024):
89
-
118
.
Explore Further about The Changing Economics of Knowledge Production
Journal Article
Veldkamp, Laura
. “Valuing Data as an Asset.”
Review of Finance
vol.
27
, no.
5
(September 15, 2023):
1545
-
1562
.
Explore Further about Valuing Data as an Asset
Download PDF on Valuing Data as an Asset
Journal Article
Farboodi, Maryam and Laura Veldkamp
. “Data and Markets.”
Annual Review of Economics
vol.
15
, no.
1
(February 28, 2023):
24
-
40
.
Explore Further about Data and Markets
Download PDF on Data and Markets
Journal Article
Farboodi, Maryam, Adrien Matray, Laura Veldkamp , and Venky Venkateswaran
. “Where Has All the Data Gone?”
Review of Financial Studies
vol.
35
, no.
7
(July 01, 2022):
3101
-
3138
.
Explore Further about Where Has All the Data Gone?
Download PDF on Where Has All the Data Gone?
Journal Article
Fogli, Alessandra and Laura Veldkamp
. “Germs, Social Networks and Growth.”
The Review of Economic Studies
vol.
88
, no.
3
(May 01, 2021):
1074
-
1100
.
Explore Further about Germs, Social Networks and Growth
Download PDF on Germs, Social Networks and Growth
Journal Article
Boyarchenko, Nina, David Lucca, and Laura Veldkamp
. “Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Auctions.”
Journal of Political Economy
vol.
129
, (February 01, 2021):
607-645
.
Explore Further about Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Auctions
Download PDF on Taking Orders and Taking Notes: Dealer Information Sharing in Treasury Auctions
Journal Article
Baley, Isaac , Laura Veldkamp , and Michael Waugh
. “Can Global Uncertainty Promote International Trade?”
Journal of International Economics
vol.
126
, (September 01, 2020):
103347
.
Explore Further about Can Global Uncertainty Promote International Trade?
Download PDF on Can Global Uncertainty Promote International Trade?
Journal Article
Kozlowski, Julian, Laura Veldkamp , and Venky Venkateswaran
. “The Tail That Wags the Economy: Beliefs and Persistent Stagnation.”
Journal of Political Economy
vol.
128
, (August 01, 2020):
2839
-
2879
.
Explore Further about The Tail That Wags the Economy: Beliefs and Persistent Stagnation
Download PDF on The Tail That Wags the Economy: Beliefs and Persistent Stagnation
Journal Article
Farboodi, Maryam and Laura Veldkamp
. “Long Run Growth of Financial Data Technology.”
American Economic Review
vol.
110
, (August 01, 2020):
2485
-
2523
.
Explore Further about Long Run Growth of Financial Data Technology
Download PDF on Long Run Growth of Financial Data Technology
Journal Article
Orlik, Anna, Nicholas Kozeniauskas, and Laura Veldkamp
. “What Are Uncertainty Shocks?”
Journal of Monetary Economics
vol.
100
, (December 01, 2018):
1
-
15
.
Explore Further about What Are Uncertainty Shocks?
Download PDF on What Are Uncertainty Shocks?
Journal Article
Begenau, Juliane, Maryam Farboodi, and Laura Veldkamp
. “Big Data in Finance and the Growth of Large Firms.”
Journal of Monetary Economics
vol.
97
, (August 01, 2018):
71
-
87
.
Explore Further about Big Data in Finance and the Growth of Large Firms
Download PDF on Big Data in Finance and the Growth of Large Firms
Journal Article
Kacperczyk, Marcin, Stijn Van Nieuwerburgh , and Laura Veldkamp
. “A Rational Theory of Mutual Funds Attention Allocation.”
Econometrica
vol.
84
, (March 21, 2016):
571
-
626
.
Explore Further about A Rational Theory of Mutual Funds Attention Allocation
Download PDF on A Rational Theory of Mutual Funds Attention Allocation
Journal Article
Kacperczyk, Marcin, Stijn Van Nieuwerburgh , and Laura Veldkamp
. “Time-Varying Fund Manager Skill.”
The Journal of Finance
vol.
69
, (August 01, 2014):
1455
-
1484
.
Explore Further about Time-Varying Fund Manager Skill
Download PDF on Time-Varying Fund Manager Skill
Journal Article
Bolton, Patrick, Markus Brunnermeier, and Laura Veldkamp
. “Leadership, Coordination and Mission-Driven Management.”
Review of Economic Studies
vol.
80
, (April 01, 2013):
512
-
537
.
Explore Further about Leadership, Coordination and Mission-Driven Management
Download PDF on Leadership, Coordination and Mission-Driven Management
Journal Article
Bolton, Patrick, Markus Brunnermeier, and Laura Veldkamp
. “Leadership, Coordination and Corporate Culture.”
Review of Economic Studies
vol.
80
, (April 01, 2013):
512
-
537
.
Explore Further about Leadership, Coordination and Corporate Culture
Download PDF on Leadership, Coordination and Corporate Culture
Journal Article
Hellwig, Christian, Sebastian Kohls, and Laura Veldkamp
. “Information Choice Technologies.”
The American Economic Review
vol.
102
, no.
3
(May 01, 2012):
35
-
40
.
Explore Further about Information Choice Technologies
Download PDF on Information Choice Technologies
Journal Article
Fogli, Alessandra and Laura Veldkamp
. “Nature or Nurture? Learning and the Geography of Female Labor Force Participation.”
Econometrica
vol.
79
, no.
4
(July 01, 2011):
1103
-
1138
.
Explore Further about Nature or Nurture? Learning and the Geography of Female Labor Force Participation
Download PDF on Nature or Nurture? Learning and the Geography of Female Labor Force Participation
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Information Acquisition and Under-Diversification.”
The Review of Economic Studies
vol.
77
, (April 01, 2010):
779
-
805
.
Explore Further about Information Acquisition and Under-Diversification
Download PDF on Information Acquisition and Under-Diversification
Journal Article
Veldkamp, Laura and Chris Edmond
. “Income Dispersion and Counter-Cyclical Markups.”
Journal of Monetary Economics
vol.
56
, no.
6
(September 01, 2009).
Explore Further about Income Dispersion and Counter-Cyclical Markups
Journal Article
Veldkamp, Laura and Vasiliki Skreta
. “Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation.”
Journal of Monetary Economics
vol.
56
, no.
5
(July 01, 2009):
678
-
695
.
Explore Further about Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Information Immobility and the Home Bias Puzzle.”
The Journal of Finance
vol.
64
, (June 01, 2009):
1187
-
1215
.
Explore Further about Information Immobility and the Home Bias Puzzle
Download PDF on Information Immobility and the Home Bias Puzzle
Journal Article
Veldkamp, Laura
. “Learning About Reform: Time-Varying Support for Structural Adjustment.”
International Review of Economics and Finance
vol.
18
, no.
2
(March 01, 2009):
192
-
206
.
Explore Further about Learning About Reform: Time-Varying Support for Structural Adjustment
Journal Article
Veldkamp, Laura and Justin Wolfers
. “Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement.”
Journal of Monetary Economics
vol.
54
, no.
1
(September 01, 2007):
37
-
55
.
Explore Further about Aggregate Shocks or Aggregate Information? Costly Information and Business Cycle Comovement
Journal Article
Veldkamp, Laura
. “Uncertainty, Policy Ineffectiveness, and Long Stagnation of the Macroeconomy.”
Japan and the World Economy
vol.
18
, no.
3
(August 01, 2006):
273
-
277
.
Explore Further about Uncertainty, Policy Ineffectiveness, and Long Stagnation of the Macroeconomy
Journal Article
Veldkamp, Laura
. “Media Frenzies in Markets for Financial Information.”
The American Economic Review
vol.
96
, no.
3
(June 01, 2006):
577
-
601
.
Explore Further about Media Frenzies in Markets for Financial Information
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Learning Asymmetries in Real Business Cycles.”
Journal of Monetary Economics
vol.
53
, (May 01, 2006):
753
-
772
.
Explore Further about Learning Asymmetries in Real Business Cycles
Download PDF on Learning Asymmetries in Real Business Cycles
Journal Article
Van Nieuwerburgh, Stijn and Laura Veldkamp
. “Inside Information and the Own Company Stock Puzzle.”
Journal of the European Economic Association
vol.
4
, (May 01, 2006):
623
-
633
.
Explore Further about Inside Information and the Own Company Stock Puzzle
Download PDF on Inside Information and the Own Company Stock Puzzle
Journal Article
Veldkamp, Laura
. “Slow Boom, Sudden Crash.”
Journal of Economic Theory
vol.
124
, no.
2
(October 01, 2005):
230
-
257
.
Explore Further about Slow Boom, Sudden Crash
Journal Article
Veldkamp, Laura and Christian Hellwig
. “Knowing What Others Know: Coordination Motives in Information Acquisition.”
The Review of Economic Studies
vol.
76
, no.
1
(May 07, 2025):
223
-
251
.
Explore Further about Knowing What Others Know: Coordination Motives in Information Acquisition
Journal Article
Veldkamp, Laura
. “Information Markets and the Comovement of Asset Prices.”
The Review of Economic Studies
vol.
73
, no.
3
(May 07, 2025):
823
-
845
.
Explore Further about Information Markets and the Comovement of Asset Prices
Working Paper
Liu, Ernest, Song Ma, and Laura Veldkamp
. Data Sales and Data Dilution. December 13, 2024.
Explore Further about Data Sales and Data Dilution
Download PDF on Data Sales and Data Dilution
Working Paper
Farboodi, Maryam and Laura Veldkamp
. A Model of the Data Economy. July 09, 2024.
Explore Further about A Model of the Data Economy
Download PDF on A Model of the Data Economy
Working Paper
Eeckhout, Jan and Laura Veldkamp
. Data and Markups: A Macro-Finance Perspective. February 22, 2023.
Explore Further about Data and Markups: A Macro-Finance Perspective
Download PDF on Data and Markups: A Macro-Finance Perspective
Book
Baley, Isaac and Laura Veldkamp
. The Data Economy: Tools and Applications. 
Princeton, NJ
:
Princeton University Press
, Forthcoming.
Explore Further about The Data Economy: Tools and Applications
Chapter
Kozlowski, Julian, Laura Veldkamp , and Venky Venkateswaran
. “Scarring Body and Mind: The Long-Term Belief-Scarring Effects of COVID-19.” In
Jackson Hole Economic Policy Symposium Proceedings
,
Kansas City Federal Reserve bank
, 2020.
Explore Further about Scarring Body and Mind: The Long-Term Belief-Scarring Effects of COVID-19
Download PDF on Scarring Body and Mind: The Long-Term Belief-Scarring Effects of COVID-19
Chapter
Veldkamp, Laura and Vasiliki Skreta
. “Did Asset Complexity Trigger Ratings Bias?” In
Lessons from the Financial Crisis: Causes, Consequences, and Our Economic Future
,
John Wiley & Sons, Inc.
, 2010.
Explore Further about Did Asset Complexity Trigger Ratings Bias?
Chapter
Veldkamp, Laura, Patrick Bolton , and Markus Brunnermeier
. “Economists’ Perspectives on Leadership.” In
Handbook of Leadership Theory and Practice
, edited by
Nitin Nohria and Rakesh Khurana
,
239
-
264
.
Harvard Business Press
,
Explore Further about Economists’ Perspectives on Leadership
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Course
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