Asset Pricing.

• Position: Program and Working Group Meetings

NBER's Program on Asset Pricing met in Chicago on March 20. NBER Research Associates Markus K. Brunnermeier and Jose A. Scheinkman of Princeton University organized this program:

* Francis A. Longstaff, University of California, Los Angeles and NBER, and Jiang Wang, MIT and NBER, "Asset Pricing and the Credit Market"

* Dimitrios Vayanos, London School of Economics and NBER, and Paul Woolley, London School of Economics, "An Institutional Theory of Momentum and Reversal"

* Bernard Dumas, University of Lausanne and NBER, and Andrew Layasoff, Boston University, "IncompleteMarket Equilibria Solved Recursively on an Event Tree" (NBER Working Paper No. 14629)

* Nicolae Garleanu, University of California, Berkeley and NBER; Leonid Kogan, MIT and NBER; and Stavros Panageas, University of Chicago, "The Demographic of Innovation and Asset Returns"

* Panel Discussion: "Rethinking Asset Pricing...