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Hsu, Alex

Alex Hsu

Assistant Professor
Alex Hsu profile photo

Academic Area(s):
Theoretical and Empirical Asset Pricing
Fixed Income
Ph.D., University of Michigan, 2012

Alex Hsu is assistant professor of finance in the Scheller College of Business at Georgia Tech. He holds undergraduate and Master degrees from Brown University and doctorate in finance from the University of Michigan. His research focus is on bond yields, equity returns, and macroeconomics. He builds theoretical models to examine the impact of monetary policy and fiscal policy on interest rate term structure. He also studies the empirical effects of government policy and legislation on firm outcomes such as returns and investment. He has presented at annual meetings of the American Finance Association, the Western Finance Association, and the Society of Financial Studies Cavalcade. He has given invited talks at the Federal Reserve Board and many regional Reserve Banks. His work includes accepted articles in the Review of Financial Studies and the Journal of Financial Economics. He teaches theory of finance to PhD's and fixed income to undergraduate and Master's students.

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Working Papers

  • 8. Hsu, Alex, Francisco Palomino, and Charles Qian. “Gone with the Vol: A Decline in Asset Return Predictability during the Great Moderation." Revise and resubmit, under revision, Management Science, 2019.

  • 9. Bretscher, Lorenzo, Alex Hsu, and Andrea Tamoni. “The Real Response to Uncertainty Shocks: the Risk Premium Channel.” Working Paper, 2019.

  • 10. Diercks, Anthony, Alex Hsu, and Andrea Tamoni. “When It Rains It Pours: Cascading Uncertainty Shocks.” Working Paper, 2019.

  • 11. Dittmar, Robert, Alex Hsu, Guillaume Roussellet, and Peter Simasek. “Default Risk and the Pricing of U.S. Sovereign Bonds." Working paper, 2019.

  • 12. Hsu, Alex. “Banking Structure and Monetary Policy Potency: Evidence from Firm-Level Investment.” Working Paper, 2018.

  • 13. Hsu, Alex. “Asset Pricing with Hand-to-Mouth Households: Joint Resolution of the Equity and Bond Risk Premium Puzzles.” Working Paper, 2017.
Published Papers

  • 1. Bretscher, Lorenzo, Alex Hsu, and Andrea Tamoni. “Fiscal Policy Driven Bond Risk Premia.” Accepted, Journal of Financial Economics, 2019.

  • 2. Chava, Sudheer, Alex Hsu, and Linghang Zeng. “Does History Repeat Itself? Business Cycle and Industry Returns." Forthcoming , Journal of Monetary Economics, 2019.

  • 3. Chava, Sudheer and Alex Hsu. “Financial Constraints, Monetary Policy Shocks and the Cross-Section of Equity Returns." Forthcoming, Review of Financial Studies, 2019.

  • 4. Chava, Sudheer, Andras Danis, and Alex Hsu. “The Economic Impact of Right-to-Work Laws: Evidence from Collective Bargaining Agreements and Corporate Policies.” Forthcoming, Journal of Financial Economics, 2019.

  • 5. Hsu, Alex, Erica X.N. Li, and Francisco Palomino. “Real and Nominal Equilibrium Yield Curves." Forthcoming, Management Science, 2019.

  • 6. Bretscher, Lorenzo, Alex Hsu, and Andrea Tamoni. “Implementing Stochastic Volatility in DSGE Models: A Comment.” Forthcoming, Macroeconomic Dynamics, 2019.

  • 7. Hsu, Alex and Francisco Palomino. “A Simple Nonnegative Process for Equilibrium Models.” Economics Letters, Volume 132, July 2015, p. 39 – 44.