Efraim Benmelech

Efraim Benmelech is the Henry Bullock Professor of Finance & Real Estate and Director of the Guthrie Center for Real Estate Research at the Kellogg School of Management, Northwestern University. He also serves as a Research Associate at the National Bureau of Economic Research (NBER). His academic roles include Co-Director of the Crown Family Israel Center for Innovation (Kellogg) and Editor positions at leading journals like the Review of Corporate Finance Studies.

Education: Ph.D. in Finance (University of Chicago, 2005), MBA (Hebrew University of Jerusalem, 2001), and B.A. in Economics and Business (Hebrew University, 1999).

Research Interests: Focus on credit markets, financial crises, bankruptcy, securitization, and the economics of terrorism. He explores topics like secured debt dynamics, corporate bond market resilience, and the impact of automation on investment decisions.

Notable Awards: Includes the Journal of Human Resources Highly Cited Paper Award (2023), Charles River Associates Award (2020), and multiple National Science Foundation grants. His work has been featured in outlets like The Economist, Wall Street Journal, and Bloomberg.

Professional Experience: Prior roles include Assistant Director at the Israel Ministry of Finance (1998–2001) and military service as a Commander in the Israeli Defense Forces (1990–1996). He currently serves on the board of the Israel National Coal Supplies Company.

Grants/Awards: Extensive funding from NSF, NBER, and Harvard fellowships. His research often bridges historical and contemporary financial crises to inform policy.

Lab/Teams: Leads research initiatives at Kellogg’s real estate and innovation centers, collaborating on projects like the impact of home purchases on economic activity and civic capital during pandemics.