Top Institutions and Economists in the Field of Financial Markets, as of April 2026

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The scores of institutions in each field are determined by a weighted sum of all scores of authors affiliated with the respective institutions, where the authors have provided weights ("shares") if they have multiple affiliations. The weights are determined, for each author, by the proportion of all working papers announced in NEP that have also been announced in this NEP report.
To be classified, an author needs to have five or more working papers announced in the NEP report for this field. For authors whose first paper is less that 10 years old, having 25% of the papers in the NEP report is sufficient.
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A series of rankings by different criteria are aggregated. The average rank score is determined by taking a harmonic mean of the ranks in each criterion. For a list of criteria, see the general ranking page.
Authors who are deceased or whose email address with RePEc is invalid are not counted, the latter under the assumption that they have moved or have died
For institutions: Authors who are deceased or whose email address with RePEc is invalid are not counted, the latter under the assumption that they have moved or have died
There are 9298 institutions with 73371 registered authors evaluated for all the rankings
For Financial Markets, these are 640 institutions and 741 authors.

The data presented here are experimental. They are based on a sample of the research output in Economics and Finance. Only material catalogued in RePEc is considered. For any citation based criterion, only works that could be parsed by the CitEc project are considered. For any ranking of people, only those registered with the RePEc Author Service can be taken into account. And for rankings of institutions, only those listed in EDIRC and claimed as affiliation by the respective, registered authors can be measured. Thus, this list is by no means based on a complete sample. You can help making this more comprehensive by encouraging more publications to be listed (instructions) and more authors to register (form). For more details on the various rankings that are available as well for documentation, follow this link.

Entity	Full ranking		Last 10 years		10 best authors		Last 10 years, 10 best authors		Top 5% authors		More
Authors	Short	Details	Short	Details							More
Institutions	Short	Details	Short	Details	Short	Details	Short	Details	All years	Last 10	More
Regions	Short	Details	Short	Details							More

Top Institutions

Rank	Institution	Score	Authors	Author Shares
1	National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	1	57	3.32
2	Harvard University → Department of Economics, Cambridge, Massachusetts (United States)	2.00	6	1.25
3	Duke University → Department of Economics, Durham, North Carolina (United States)	3.29	3	1.00
4	Yale University → School of Management, New Haven, Connecticut (United States)	3.81	8	1.69
5	University of Chicago → Booth School of Business, Chicago, Illinois (United States)	5.47	5	1.29
6	Ohio State University → Fisher College of Business, Columbus, Ohio (United States)	5.60	4	0.82
7	University of California-Los Angeles (UCLA) → Anderson Graduate School of Management, Los Angeles, California (United States)	6.61	6	1.40
8	University of Pennsylvania → Wharton School of Business, Philadelphia, Pennsylvania (United States)	8.59	5	0.89
-	Ohio State University → Fisher College of Business → Department of Finance, Columbus, Ohio (United States)	8.87	2	0.52
9	Columbia University → Graduate School of Business, New York City, New York (United States)	9.82	7	1.05
10	Federal Reserve Board (Board of Governors of the Federal Reserve System), Washington, District of Columbia (United States)	10.23	12	3.92
11	Northwestern University → Kellogg Graduate School of Management, Evanston, Illinois (United States)	11.33	5	0.74
12	University of Pennsylvania → Department of Economics, Philadelphia, Pennsylvania (United States)	12.50	2	0.31
-	Columbia University → Graduate School of Business → Finance and Economics Department, New York City, New York (United States)	12.94	5	0.99
13	Harvard University → Harvard Business School, Cambridge, Massachusetts (United States)	13.31	4	0.84
14	Centre for Economic Policy Research (CEPR), London, United Kingdom	14.22	47	1.37
-	Harvard University → Harvard Business School → Finance Unit, Cambridge, Massachusetts (United States)	15.14	4	0.77
15	World Bank Group, Washington, District of Columbia (United States)	15.29	8	0.86
16	Stanford University → Graduate School of Business, Stanford, California (United States)	15.65	6	0.74
-	Northwestern University → Kellogg Graduate School of Management → Department of Finance, Evanston, Illinois (United States)	15.81	3	0.65
17	Federal Reserve Bank of New York, New York City, New York (United States)	16.13	12	2.49
18	Hoover Institution on War Revolution & Peace, Stanford, California (United States)	17.91	3	0.22
-	University of Pennsylvania → Wharton School of Business → Finance Department, Philadelphia, Pennsylvania (United States)	18.21	3	0.70
19	University of California-Berkeley → Walter A. Haas School of Business, Berkeley, California (United States)	18.60	5	1.25
20	Princeton University → Department of Economics, Princeton, New Jersey (United States)	19.01	4	0.78
21	Massachusetts Institute of Technology (MIT) → Sloan School of Management, Cambridge, Massachusetts (United States)	20.21	5	0.72
22	Shanghai Jiao Tong University → Shanghai Advanced Institute of Finance (SAIF), Shanghai, China	21.48	3	1.98
23	London School of Economics (LSE), London, United Kingdom	23.10	7	1.17
24	London Business School (LBS), London, United Kingdom	23.47	5	1.14
25	Imperial College → Business School, London, United Kingdom	25.26	3	0.60
26	Harvard University → Harvard Kennedy School, Cambridge, Massachusetts (United States)	26.44	4	0.21
27	Duke University → Fuqua School of Business, Durham, North Carolina (United States)	26.67	2	0.35
-	Duke University → Fuqua School of Business → Finance Area, Durham, North Carolina (United States)	26.67	2	0.35
28	European Central Bank, Frankfurt am Main, Germany	27.73	12	3.56
-	Princeton University → Department of Economics → Bendheim Center for Finance, Princeton, New Jersey (United States)	29.26	3	0.59
29	New York University (NYU) → Department of Economics, New York City, New York (United States)	29.99	4	0.80
30	New York University (NYU) → Stern School of Business, New York City, New York (United States)	30.47	6	0.50
31	International Monetary Fund (IMF), Washington, District of Columbia (United States)	31.23	5	2.10
32	University of Southern California → Marshall School of Business, Los Angeles, California (United States)	32.33	2	0.46
33	Bank for International Settlements (BIS), Basel, Switzerland	32.50	10	1.37
-	University of California-Los Angeles (UCLA) → Anderson Graduate School of Management → Finance Group, Los Angeles, California (United States)	32.73	3	0.57
-	Federal Reserve Bank of New York → Research and Statistics Group, New York City, New York (United States)	33.24	9	1.41
-	University of Southern California → Marshall School of Business → Department of Finance and Business Economics, Los Angeles, California (United States)	33.83	1	0.27
34	University of Texas-Austin → McCombs School of Business, Austin, Texas (United States)	34.35	2	0.41
-	World Bank Group → Economics Research, Washington, District of Columbia (United States)	34.91	5	0.63
35	Swiss Finance Institute, Genève/Zürich, Switzerland	35.17	14	1.27
-	University of Texas-Austin → McCombs School of Business → Department of Finance, Austin, Texas (United States)	35.36	2	0.41
36	University of Southern California → Department of Economics, Los Angeles, California (United States)	35.40	3	0.25
-	University of California-Berkeley → Walter A. Haas School of Business → Finance Group, Berkeley, California (United States)	35.97	3	0.79
37	HEC Paris (École des Hautes Études Commerciales), Jouy-en-Josas, France	36.79	4	0.83
38	Barcelona School of Economics (BSE), Barcelona, Spain	37.02	7	1.40
39	University of Maryland → Robert H. Smith School of Business, College Park, Maryland (United States)	37.24	2	1.20
-	London School of Economics (LSE) → Finance Department, London, United Kingdom	37.25	4	0.93
-	University of Maryland → Robert H. Smith School of Business → Finance Department, College Park, Maryland (United States)	38.25	2	1.20
40	Brookings Institution, Washington, District of Columbia (United States)	40.09	5	0.29
-	HEC Paris (École des Hautes Études Commerciales) → Départment Économie et Sciences de la Décision, Jouy-en-Josas, France	40.61	3	0.59
-	Brookings Institution → Economic Studies, Washington, District of Columbia (United States)	41.67	3	0.26
41	Copenhagen Business School, København, Denmark	41.92	2	0.39
-	New York University (NYU) → Stern School of Business → Finance Department, New York City, New York (United States)	42.18	4	0.28
-	Copenhagen Business School → Institut for Finansiering, København, Denmark	43.00	1	0.23
-	University of Pennsylvania → Wharton School of Business → Financial Institutions Center, Philadelphia, Pennsylvania (United States)	43.26	1	0.17
42	Yale University → Cowles Foundation for Research in Economics, New Haven, Connecticut (United States)	44.24	2	0.10
43	Aarhus Universitet → Institut for Økonomi, Aarhus, Denmark	44.25	7	0.93
44	City University of New York (CUNY) → Baruch College → Zicklin School of Business, New York City, New York (United States)	45.42	1	0.71
45	George Washington University → Department of Economics, Washington, District of Columbia (United States)	45.59	2	0.56
46	University of California-Los Angeles (UCLA) → Department of Economics, Los Angeles, California (United States)	45.82	4	0.44
47	Trinity College Dublin → School of Business, Dublin, Ireland	45.90	1	0.42
-	Barcelona School of Economics (BSE) → Centre de Recerca en Economia Internacional (CREI), Barcelona, Spain	45.99	4	0.66
-	Boston College → Wallace E. Carroll School of Management → Finance Department, Chestnut Hill, Massachusetts (United States)	47.13	1	0.67
47	Boston College → Wallace E. Carroll School of Management, Chestnut Hill, Massachusetts (United States)	47.13	1	0.67
49	Massachusetts Institute of Technology (MIT) → Economics Department, Cambridge, Massachusetts (United States)	47.93	2	0.11
-	University of California-Los Angeles (UCLA) → Anderson Graduate School of Management → Center for Global Management, Los Angeles, California (United States)	48.74	1	0.16
50	University of Virginia → Darden School of Business, Charlottesville, Virginia (United States)	50.22	2	0.80
51	Yale University → Economics Department, New Haven, Connecticut (United States)	51.30	1	0.09
-	University of California-Berkeley → Walter A. Haas School of Business → Economic Analysis & Policy Group (EAP), Berkeley, California (United States)	51.79	2	0.32
52	Northwestern University → Department of Economics, Evanston, Illinois (United States)	53.90	2	0.16
53	European University Institute → Robert Schuman Centre for Advanced Studies (RSCAS), Firenze, Italy	55.14	1	0.12
54	Centro Studi di Economia e Finanza (CSEF), Napoli, Italy	56.46	5	0.22
55	University of California-Irvine → Department of Economics, Irvine, California (United States)	57.91	3	0.31
56	University of Chicago → Department of Economics, Chicago, Illinois (United States)	58.86	2	0.15
-	Aarhus Universitet → Institut for Økonomi → Center for Research in Econometric Analysis of Time Series (CREATES), Aarhus, Denmark	58.89	5	0.64
57	Università Commerciale Luigi Bocconi, Milano, Italy	59.42	3	1.18
58	Washington University in St. Louis → Olin School of Business, St. Louis, Missouri (United States)	59.50	1	0.17
59	Dartmouth College → Economics Department, Hanover, New Hampshire (United States)	59.89	1	0.61
60	University of North Carolina-Chapel-Hill → Department of Economics, Chapel Hill, North Carolina (United States)	60.13	2	0.34
-	London Business School (LBS) → Department of Economics, London, United Kingdom	62.26	1	0.16
61	University of California-Berkeley → Department of Economics, Berkeley, California (United States)	63.93	2	0.13
62	University of North Carolina-Chapel-Hill → Kenan Flagler Business School, Chapel Hill, North Carolina (United States)	64.18	2	0.35
63	Williams College → Economics Department, Williamstown, Massachusetts (United States)	64.36	1	0.22
64	Groupe EDHEC (École de Hautes Études Commerciales du Nord), Lille/Paris, France	65.39	1	0.38

Top Authors

Rank	Author	Score
1	John Y. Campbell Harvard University → Department of Economics, Cambridge, Massachusetts (United States)	1.37
2	Tim Bollerslev Duke University → Department of Economics, Durham, North Carolina (United States)	2.50
3	René M. Stulz (Rene M. Stulz) Ohio State University → Fisher College of Business → Department of Finance, Columbus, Ohio (United States)	5.08
4	Robert J. Shiller	5.97
5	Campbell Harvey Duke University → Fuqua School of Business → Finance Area, Durham, North Carolina (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	6.25
6	Francis Diebold University of Pennsylvania → Department of Economics, Philadelphia, Pennsylvania (United States)	6.49
7	Brian M. Lucey Trinity College Dublin → School of Business, Dublin, Ireland	9.60
8	Kenneth A. Froot Harvard University → Harvard Business School → Finance Unit, Cambridge, Massachusetts (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	9.61
9	Jeremy Stein National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States) Harvard University → Department of Economics, Cambridge, Massachusetts (United States)	9.99
10	Ross Levine Hoover Institution on War Revolution & Peace, Stanford, California (United States)	12.63
11	Roberto S. Mariano †	13.01
12	Geert Bekaert Columbia University → Graduate School of Business → Finance and Economics Department, New York City, New York (United States)	14.51
13	Robert F. Stambaugh University of Pennsylvania → Wharton School of Business → Finance Department, Philadelphia, Pennsylvania (United States)	15.07
14	Ravi Jagannathan Northwestern University → Kellogg Graduate School of Management → Department of Finance, Evanston, Illinois (United States)	17.08
15	David Hirshleifer University of Southern California → Marshall School of Business → Department of Finance and Business Economics, Los Angeles, California (United States)	18.20
16	Mark Grinblatt University of California-Los Angeles (UCLA) → Anderson Graduate School of Management, Los Angeles, California (United States)	20.29
17	Torben G. Andersen National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	20.75
18	Lasse Heje Pedersen Copenhagen Business School → Institut for Finansiering, København, Denmark	21.05
19	Stefan Nagel University of Chicago → Booth School of Business, Chicago, Illinois (United States)	21.49
20	Lubos Pastor University of Chicago → Booth School of Business, Chicago, Illinois (United States)	21.74
21	George Tauchen Duke University → Department of Economics, Durham, North Carolina (United States)	21.95
22	Andrei Shleifer Harvard University → Department of Economics, Cambridge, Massachusetts (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	22.62
23	Carmen Reinhart Harvard University → Harvard Kennedy School, Cambridge, Massachusetts (United States)	24.19
24	Andrew W. Lo Massachusetts Institute of Technology (MIT) → Sloan School of Management, Cambridge, Massachusetts (United States)	24.24
25	Rangan Gupta University of Pretoria → Faculty of Economic and Management Sciences → Department of Economics, Pretoria, South Africa	24.37
26	Owen A. Lamont Harvard University → Department of Economics, Cambridge, Massachusetts (United States)	25.89
27	Franklin Allen Imperial College → Business School, London, United Kingdom	26.09
28	William Goetzmann Yale University → School of Management, New Haven, Connecticut (United States)	27.91
29	Kenneth S Rogoff Harvard University → Department of Economics, Cambridge, Massachusetts (United States)	29.64
30	Jun Pan Shanghai Jiao Tong University → Shanghai Advanced Institute of Finance (SAIF), Shanghai, China	29.82
31	Yacine Ait-Sahalia Princeton University → Department of Economics → Bendheim Center for Finance, Princeton, New Jersey (United States)	30.42
32	Liuren Wu City University of New York (CUNY) → Baruch College → Zicklin School of Business, New York City, New York (United States)	30.91
33	Francis A. Longstaff University of California-Los Angeles (UCLA) → Anderson Graduate School of Management → Finance Group, Los Angeles, California (United States)	32.07
34	Russell Wermers University of Maryland → Robert H. Smith School of Business → Finance Department, College Park, Maryland (United States)	36.38
35	Peter F. Christoffersen †	36.63
36	Mohammad Hashem Pesaran University of Southern California → Department of Economics, Los Angeles, California (United States)	37.23
37	Andrew Ang National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States) Columbia University → Graduate School of Business → Finance and Economics Department, New York City, New York (United States)	39.49
38	Asli Demirguc-Kunt World Bank Group, Washington, District of Columbia (United States)	40.12
39	Sebastian Edwards University of California-Los Angeles (UCLA) → Anderson Graduate School of Management → Center for Global Management, Los Angeles, California (United States)	40.47
40	Martin Lettau University of California-Berkeley → Walter A. Haas School of Business → Finance Group, Berkeley, California (United States)	41.24
41	Sheridan Titman University of Texas-Austin → McCombs School of Business → Department of Finance, Austin, Texas (United States)	44.46
42	Allen N. Berger Federal Reserve Board (Board of Governors of the Federal Reserve System), Washington, District of Columbia (United States) University of Pennsylvania → Wharton School of Business → Financial Institutions Center, Philadelphia, Pennsylvania (United States)	46.44
43	Darrell Duffie Stanford University → Graduate School of Business, Stanford, California (United States)	47.51
44	Jeffrey Wurgler New York University (NYU) → Stern School of Business → Finance Department, New York City, New York (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	47.81
45	Raghuram G. Rajan University of Chicago → Booth School of Business, Chicago, Illinois (United States)	49.95
46	Jonathan Andrew Batten RMIT University → School of Economics, Finance and Marketing, Melbourne, Australia	50.91
47	David A. Peel Lancaster University → Management School → Department of Economics, Lancaster, United Kingdom	51.12
48	Paul Alan Gompers Harvard University → Harvard Business School → Finance Unit, Cambridge, Massachusetts (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	53.88
49	Sydney C. Ludvigson New York University (NYU) → Department of Economics, New York City, New York (United States)	54.43
50	Luis Alberiko Gil-Alana Universidad de Navarra → Facultad de Ciencias Económicas y Empresariales, Pamplona, Spain Universidad de Navarra → Navarra Center for International Development, Pamplona, Spain	54.47
51	Malcolm Baker Harvard University → Harvard Business School → Finance Unit, Cambridge, Massachusetts (United States)	55.37
52	David Backus †	58.53
53	Graciela Laura Kaminsky George Washington University → Department of Economics, Washington, District of Columbia (United States)	58.92
54	Martin Eichenbaum Northwestern University → Department of Economics, Evanston, Illinois (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	60.05
55	Arvind Krishnamurthy Stanford University → Graduate School of Business, Stanford, California (United States)	60.58
56	Andrew Metrick Yale University → School of Management, New Haven, Connecticut (United States)	62.03
57	Thorsten Beck European University Institute → Robert Schuman Centre for Advanced Studies (RSCAS), Firenze, Italy	62.93
58	Luc Laeven European Central Bank, Frankfurt am Main, Germany	63.08
59	Eric Zitzewitz Dartmouth College → Economics Department, Hanover, New Hampshire (United States)	63.54
60	Justin Wolfers	64.38
61	James Poterba Massachusetts Institute of Technology (MIT) → Economics Department, Cambridge, Massachusetts (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	65.61
62	Gary Gorton Yale University → School of Management, New Haven, Connecticut (United States)	66.11
63	Gian Maria Milesi-Ferretti Brookings Institution → Economic Studies, Washington, District of Columbia (United States)	67.16
64	Peter Temin †	67.23
65	Stijn Claessens Yale University → School of Management, New Haven, Connecticut (United States) Centre for Economic Policy Research (CEPR), London, United Kingdom	68.40
66	Roberto Rigobon Massachusetts Institute of Technology (MIT) → Sloan School of Management, Cambridge, Massachusetts (United States) National Bureau of Economic Research (NBER), Cambridge, Massachusetts (United States)	70.06
67	Josef Zechner WU Wirtschaftsuniversität Wien, Wien, Austria	70.75
68	Mark P. Taylor Washington University in St. Louis → Olin School of Business, St. Louis, Missouri (United States)	70.90
69	Wayne Ferson Boston College → Wallace E. Carroll School of Management → Finance Department, Chestnut Hill, Massachusetts (United States)	71.12
70	Francis Warnock University of Virginia → Darden School of Business, Charlottesville, Virginia (United States)	71.43
71	Annette Vissing-Jorgensen Federal Reserve Board (Board of Governors of the Federal Reserve System), Washington, District of Columbia (United States)	72.62
72	Suleyman Basak London Business School (LBS), London, United Kingdom	72.62
73	Guglielmo Maria Caporale Brunel University London → Department of Economics and Finance, Uxbridge, United Kingdom	73.43
74	Philip Lane	74.06

Credits:

Citations from CitEc project by José Manuel Barrueco Cruz, University of Valencia, Spain. Hardware provided by Instituto Valenciano de Investigaciones Económicas (IVIE), Valencia, Spain.
Abstract views and downloads statistics from LogEc project by Sune Karlsson, Örebro University, Sweden.
Author registration, institution database, and ranking computations by Christian Zimmermann.
RePEc has been initiated by Thomas Krichel.

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