Lawrence D.W. Schmidt | AI’s Impact on Labor and Wages

Lawrence D.W. Schmidt is the Victor J. Menezes (1972) Career Development Associate Professor of Finance and a Faculty Research Fellow at the National Bureau of Economic Research. He is an applied economist working at the intersection of finance and macro-labor.

Schmidt’s research has developed new insights about the risk exposures and decision-making processes of households, institutional investors, and financial intermediaries, and in doing so has deepened our understanding of asset prices, financial policy, and the workings of the real economy.

His research to date involves two interrelated strands: (1) fundamental risk factors impacting the value of human capital and the causes and consequences of imperfect risk-sharing in labor and financial markets; (2) understanding the underlying drivers of financial markets by focusing on the interplay between individual decision-making, strategic complementarities, and information processing frictions.

Schmidt holds a BA from the University of California, Santa Barbara, and PhD and MA degrees in Economics from the University of California, San Diego. Prior to joining the faculty at MIT Sloan, Schmidt was an Assistant Professor in the Kenneth C. Griffin Department of Economics at the University of Chicago and a senior consultant at Navigant Consulting, Inc.