Asaf Manela | אסף מנלה

Associate Professor of Finance
Washington University in St. Louis
Olin Business School
(314) 935-9178

Research interests

Asset Pricing, Financial Intermediation, Machine Learning, Text Analysis, Information Economics.


New In a new paper, we measure popular sentiment toward finance using a computational linguistics approach applied to millions of books published in eight countries over hundreds of years. We document persistent differences in finance sentiment across countries.

Presentations: Virtual Finance Seminar, WashU

New In a new paper, we offer a simple, intuitive and empirically useful expression quantifying the value of asset-specific information to a strategic trader. We find that the value of information rises dramatically during crises and on earnings announcement days, and falls at calendar year ends. The most dramatic spikes in the value of information occur at the start of the COVID-19 pandemic and the financial crisis of 2008, when the Fed announces novel liquidity facilities.