Dr. Laura Kodres is the former Senior Distinguished Fellow for the Golub Center for Finance and Policy where she taught “Finance and Ethics” and “Navigating Financial Regulation in the Post Global Financial World” and contributed the Center's goal of connecting academicians, policymakers, and practitioners regarding finance and policy.

Dr. Kodres joined MIT Sloan after a 24-year long distinguished career at the International Monetary Fund (IMF), where she oversaw preparation of the analytical chapters of the Global Financial Stability Report and worked on a range of financial sector policy issues. Later Dr. Kodres oversaw the IMF's training in Asia and played a key role in the startup of two IMF regional capacity development centers: in New Delhi, India and in Shenzhen, China, and two IMF online courses “Financial Development and Financial Inclusion” and “Fintech.” She continues to deliver financial training to hundreds of officials around the world through the various IMF centers.

Her research focuses on contagion, macro-financial linkages, methods to measure and mitigate systemic risks and the effectiveness of regulation. She previously served at the U.S. Federal Reserve Board and the Commodity Futures Trading Commission, and as a finance professor at the Ross School of Business at the University of Michigan. Her private sector experience includes jobs at First National Bank of Chicago (now JPMorgan Chase & Co.) and the Chicago Mercantile Exchange. She has published widely in her areas of interest.

Deborah Lucas is the Sloan Distinguished Professor of Finance at MIT’s Sloan School of Management, and the Director of the MIT Golub Center for Finance and Policy.

Her recent research has focused on measuring and accounting for the costs and risks of government financial obligations. Her academic publications cover a wide range of topics including the effect of idiosyncratic risk on asset prices and portfolio choice, dynamic models of corporate finance, financial institutions, monetary economics, and valuation of government guarantees. An expert on federal credit programs, Lucas has testified before Congress on budgeting for Fannie Mae and Freddie Mac, student loans, and on strategically important financial institutions.

Previous appointments include assistant and associate director at the Congressional Budget Office; Donald C. Clark Professor of Finance at Northwestern University’s Kellogg School of Management; chief economist at the Congressional Budget Office; senior economist at the Council of Economic Advisers; and member of two Social Security Technical Advisory Panels. Lucas also has served as a director on several corporate and non-profit boards.

She is on the editorial board of the Annual Review of Financial Economics , a coeditor of AEA-Policy , and a co-organizer of the group Capital Markets and the Economy at the NBER. Lucas is an elected member of the National Academy of Social Insurance, a research associate of the NBER, a member of the Advisory Roundtable of the Federal Reserve Bank of New York, a member of the Federal Economic Statistics Advisory Committee, a member of the Shadow Open Market Committee, and a member of the Academic Research Council for the Urban Institute Housing Finance Policy Center.

Lucas received her BA, MA, and a PhD in economics, all from the University of Chicago.

Current Research Focus: Lucas's current research lies at the intersection of finance and policy, with a focus on economically meaningful cost measurement of government financial activities. Some current projects include measuring the capital subsidies to state-owned enterprises, analyzing the risk-sharing potential of collective defined contribution plans, creating a world atlas of government financial institutions, measuring the subsidies and risks associated with development banks, and analyzing reverse mortgages.