Pictures from CREI

One of my important functions at CREI (you see, we all wear lots of hats here) is to act as the ""official"" photographer. The new building called for a small photo-shoot, and so did Robert Barro's visit last week. He gave two talks about his recent work on the frequency and impact of macroeconomic disasters. In particular, he argues along the lines of Rietz (1988) that disasters are common enough to explain why risky assets such as stocks yield as high a return as they do - what some call the ""equity premium puzzle"". The picture in the upper left shows him in conversation with Jordi Gali, director of CREI, during a recent lunchtime talk. You can see some more pictures of the new CREI building and of my beautiful colleagues here.