Francisco Gomes

Professor of Finance

London Business School


Research Projects

Working Papers:

Tactical Target Date Funds” joint with Alex Michaelides and Yuxin Zhang

Retirement Savings Adequacy in U.S. Defined Contribution Plans”, joint with Kenton Hoyem, Wei Hu and Enrichetta Ravina

Evidence on Expectations of Household Finances”, joint with Joao Cocco and Paula Lopes

Risk and Returns to Education Over Time”, joint with Jeffrey Brown and Chichun Fang

“The Cross-Section of Household Preferences”, joint with Laurent Calvet, John Campbell and Paolo Sodini

“The International Taxation of Capital”, joint with Nicolas Coeurdacier, Nuno Coimbra and Elisa Faraglia

Published Articles:

Household Finance”, joint with Michael Haliassos and Tarun Ramadorai, Journal of Economic Literature, forthcoming.

Life-Cycle Portfolio Choice with Liquid and Illiquid Assets”, joint with Claudio Campanale and Carolina Fugazza, Journal of Monetary Economics, 71, 67-83, April 2015

 Fiscal Policy and Asset Prices with Incomplete Markets”, joint with Alex Michaelides and Valery Polkovnichenko, The Review of Financial Studies, 26, 2, 531-566, February 2013. 

"Longevity Risk, Retirement Savings and Financial Innovation", joint with Joao Cocco, Journal of Financial Economics, 103, 3, 507-529 March 2012. 

"Optimal Savings with Taxable and Tax-Deferred Accounts", joint with Alex Michaelides and Valery Polkovnichenko, Review of Economic Dynamics, 12, 718-735, October 2009. 

"Lending Relationships in the Interbank Market", joint with Joao Cocco and Nuno Martins, Journal of Financial Intermediation, 18, 24-48, January 2009. 

"Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds", joint with Laurence Kotlikoff and Luis Viceira, American Economic Review: Papers and Proceedings, 98, 297-303, May 2008

"Asset Pricing with Limited Risk Sharing and Heterogeneous Agents", joint with Alex Michaelides, The Review of Financial Studies, 21 (1), 415-449, January 2008.

"Exploiting Short-Run Predictability", Journal of Banking and Finance, 2007, 31, 1427–40.

"Optimal Life-Cycle Asset Allocation: Understanding the Empirical Evidence", joint with Alex Michaelides, Journal of Finance, 60 (2), 869-904, April 2005. 

"Consumption and Portfolio Choice over the Life-Cycle", joint with Joao Cocco and Pascal Maenhout, The Review of Financial Studies, 18 (2), 491-533, Summer 2005.  (Fortran Code)

"Portfolio Choice and Trading Volume with Loss-Averse Investors" (Latest Version / Published Version: March 2003), Journal of Business, 78 (2), March 2005. 

"Portfolio Choice with Internal Habit Formation:  A Life-Cycle Model with Uninsurable Labor Income Risk", joint with Alex Michaelides, Review of Economic Dynamics, 6 (4), 729-766, October 2003. 

"Stock Market Mean Reversion and the Optimal Equity Allocation of a Long-Lived Investor", joint with John Campbell, Joao Cocco, Pascal Maenhout and Luis Viceira, European Finance Review, 5, 269-292, 2001. 
(Gauss Code

Book Chapters:

"The Excess Burden of Government Indecision", in Tax Policy and the Economy, NBER, Eds., joint with Laurence Kotlikoff and Luis Viceira, Volume 26, 2012.

Discussion of “Equity Premia with Benchmark Levels of Consumption: Closed-Form Results” (by Andrew Abel), in Handbook of Investments: Equity Risk Premium, North Holland, Ed. Rajnish Mehra, 2008.

"Investing Retirement Wealth: A Life-Cycle Model", in Risk Aspects of Investment-Based Social Security Reform, NBER, Eds. M. Feldstein and J. Campbell, 2001, joint with John Campbell, Joao Cocco and Pascal Maenhout. 


Contact Information

Corresponding address
London Business School
Regent's Park
London NW1 4SA
United Kingdom

44 (0) 207 000 8215

Email address