Xavier Gabaix


Harvard University, Cambridge, MA

Ph.D. in Economics, 1995-1999.

Advisors: Robert Barro, John Campbell, Donald Davis, Edward Glaeser.

Ecole Normale Supérieure, Paris, France

M.A. and Agrégation of Mathematics, 1991-1995

Academic appointments

New York University, Stern School of Business, Finance Department, New York, NY.

Martin J. Gruber Professor of Finance, 2010-

Professor of finance, 2009-2010. Associate Professor of Finance, 2007-2009

Massachusetts Institute of Technology, Department of Economics, Cambridge, MA.

Rudi Dornbusch Career Development Assistant then Associate Professor of Economics, 2004-7. Assistant Professor of Economics, 1999 – 2003. Post-Doctoral Fellow, 1998 – 1999.

National Bureau of Economic Research: Faculty Research Associate, 2010-, Research Fellow, 2002-2010 (Asset Pricing, Economic Fluctuations and Growth)

Center for Economic Policy Research: Research Fellow, 2009-present (Financial Economics, Macroeconomics)


Fischer Black Prize, awarded every two years by the American Finance Association to the person under 40 who has contributed the most to finance, 2011.

TIAA-CREF Paul A. Samuelson Award: Certificate of Excellence, 2011

Young Scientist Award for Socio- and Econophysics, AKSOE, 2006.

Continuous NSF and NIH funding since 2001.

David A. Wells Prize for outstanding doctoral dissertation at Harvard University, 1999.

Publications related to this theme

Gabaix, Xavier, “Zipf’s Law for Cities: An Explanation,” Quarterly Journal of Economics, 114 (3), August 1999, p.739-67.

Gabaix, Xavier, Parameswaran Gopikrishnan, Vasiliki Plerou, H. Eugene Stanley “A Theory of Power Law Distributions in Financial Market Fluctuations,” Nature, 2003, vol. 423, p. 267-70.

Gabaix, Xavier, Parameswaran Gopikrishnan, Vasiliki Plerou, H. Eugene Stanley “Institutional Investors and Stock Market Volatility,” Quarterly Journal of Economics, vol. 121 (2), May 2006, p. 461-504.

Gabaix, Xavier and David Laibson “Shrouded Attributes, Consumer Myopia, and Information Suppression in Competitive Markets,” Quarterly Journal of Economics, vol. 121 (2), May 2006, p. 505-540.

Gabaix, Xavier, David Laibson, Guillermo Moloche and Stephen Weinberg “Costly Information Acquisition: Experimental Analysis of a Boundedly Rational Model,” American Economic Review, vol. 96 (4), September 2006, p. 1043-1068.

Gabaix, Xavier, Arvind Krishnamurthy and Olivier Vigneron “Limits of Arbitrage:   Theory and Evidence from the Mortgage-Backed Securities Market,” Journal of Finance, vol. 62(2), April 2007, p. 557-595.

Edmans, Alex, Xavier Gabaix and Augustin Landier “A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium,” Review of Financial Studies, vol. 22(12), 2009, p. 4881-4917.

Gabaix, Xavier and Augustin Landier “Why Has CEO Pay Increased So Much?,” Quarterly Journal of Economics, vol. 123(1), 2008, p. 49-100.

Rozenfeld, Hernan, Diego Rybski, Xavier Gabaix, Hernan Makse, “The Area and Population of Cities: New Insights from a Different Perspective on Cities,” forthcoming, American Economic Review.

Gabaix, Xavier “The Granular Origins of Aggregate Fluctuations,” forthcoming, Econometrica.