Francisco Gomes

Professor of Finance

BA (Universidade Nova de Lisboa) MA PhD (Harvard)

Professor Francisco Gomes’ areas of expertise include capital markets, asset allocation, household finance, and macroeconomics. His research has been published in leading journals, such as The Journal of Finance, The Review of Financial Studies, the Journal of Financial Economics and The American Economic Review. He has given numerous seminars worldwide and he has been covered by The Financial Times, BBC and Bloomberg, among others.

Professor Gomes joined London Business School, in 2000, as an Assistant Professor of Finance – following receipt of his PhD from Harvard University. After earning his BA from the New University of Lisbon (Universidade Nova de Lisboa), he worked at the Bank of Portugal in its research department.

Professor Gomes is a Research Affiliate of the Centre for Economic Policy Research and one of the founding members of the CEPR Network on Household Finance.

Book chapters

"The Excess Burden of Government Indecision", in Tax Policy and the Economy, NBER, Eds., joint with Laurence Kotlikoff and Luis Viceira, Volume 26, 2012.

Discussion of “Equity Premia with Benchmark Levels of Consumption: Closed-Form Results” (by Andrew Abel), in Handbook of Investments: Equity Risk Premium, North Holland, Ed. Rajnish Mehra, 2008.

"Investing Retirement Wealth: A Life-Cycle Model", in Risk Aspects of Investment-Based Social Security Reform, NBER, Eds. M. Feldstein and J. Campbell, 2001, joint with John Campbell, Joao Cocco and Pascal Maenhout.

Capital markets
Asset allocation
Household finance
Macroeconomics

2020

Portfolio choice over the life-cycle: a survey

Gomes F

Annual Review of Financial Economics 2020 Vol 12 p 277-304

2015

Life-cycle portfolio choice with liquid and illiquid assets

Campanale C; Fugazza C; Gomes F

Journal of Monetary Economics 2015 Vol 71 p 67-83

2013

Fiscal policy and asset prices with incomplete markets

Gomes F J; Michaelides A; Polkovnichenko V

Review of Financial Studies 2013 Vol 26:2 p 531-556

2012

Longevity risk, retirement savings, and financial innovation

Cocco J F; Gomes G

Journal of Financial Economics 2012 Vol 103:3 p 507-529

The excess burden of government indecision

Gomes F; Kotlikoff L J; Viceira L M V

Gomes F; Kotlikoff L J; Viceira L M V: The excess burden of government indecision: In Browen J eds., Tax Policy and Economy, 2012

2009

Lending relationships in the interbank market

Cocco J F; Gomes F J; Martins N C

Journal of Financial Intermediation 2009 January Vol 18:1 p 24-48

Optimal savings with taxable and tax-deferred accounts

Gomes F; Michaelides A; Polkovnichenko V

Review of Economic Dynamics 2009 Vol 12:4 p 718-735

2008

Asset pricing with limited risk sharing and heterogeneous agents

Gomes F; Michaelides A

Review of Financial Studies 2008 Vol 21:1 p 415-448

Optimal life-cycle investing with flexible labor supply: A welfare analysis of life-cycle funds

Gomes F; Kotlikoff L J; Viceira L M

American Economic Review 2008 Vol 98:2 p 297-303

2007

Exploiting short-run predictability

Gomes F

Journal of Banking and Finance 2007 Vol 31:5 p 1427-1440

2006

Discussion of 'Equity premia with benchmark levels of consumption: closed-form results' by Andrew Abel

Gomes F

in Handbook of investments: equity risk premium by Mehra R, 2006

2005

2003

Portfolio choice with internal habit formation: a life-cycle model with uninsurable labor income risk

Gomes F; Michaelides A

Review of Economic Dynamics 2003 Oct Vol 6:4 p 729-766

2001

Investing retirement wealth: a life-cycle model

Cocco J; Gomes F; et al.

in Campbell J Y and Feldstein M eds., Risk aspects of social security reform, University of Chicago Press, 2001

Stock market mean reversion and the optimal equity allocation of a long lived investor

Campbell J Y; Gomes F; Cocco J; et al.

European Finance Review 2001 Vol 5:3 p 269-292

2019

Evidence on expectations of household finances

Cocco J; Gomes F; Lopes P

Social Sciences Research Network

2018

Foreseen risks

Gomes J F; Grotteria M; Wachter J A

NBER Working Paper

Tactical target date funds

Gomes F; Michaelides A; Zhang Y

CEPR Discussion Paper

2017

Evidence on the links between household finances, expectations and emotional well being

Cocco J; Gomesz F; Lopes P

Working Paper

2016

Expenditures and financial well-being

Cocco J; Gomes F; Lopes Paula

Working Paper

Teaching portfolio

Our teaching offering is updated annually. Faculty and programme material are subject to change.

Masters Degrees core courses

A key part of our Masters programmes curriculum.
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Financial Economics I/Asset Pricing

Financial Economics I/Asset Pricing

Personal Finance

Personal Finance covers the financial decision-making of individuals/households as opposed to those of Corporations or Institutional Investors. More specifically, it will focus on the savings, investment and borrowing decisions. The course is therefore particularly relevant for those interested in the areas of wealth management, asset management, consumer finance, financial regulation and policy making.
PROGRAMMES WITH THIS CORE COURSE

Masters in Financial Analysis
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Masters Degrees electives

Optional courses providing a deep dive into specialist areas.
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Capital Markets & Financing

Capital Markets and Financing (henceforth CMF) forms, with the Finance Core Course, a two-course sequence covering corporate finance and investments. While not a core course, CMF covers key areas of finance with which all EMBA graduates should be familiar.
PROGRAMMES WITH THIS ELECTIVE

Executive MBA Dubai

Executive MBA London

EMBA-Global Americas & Europe

Corporate Finance and Capital Markets

Together with the Finance Core Course, a two-course sequence covering corporate finance and investments. While not a core course, CFCM covers key areas of finance with which all graduates should be familiar.
PROGRAMMES WITH THIS ELECTIVE

Masters in Management

Python for Finance

Students will learn Python coding and will apply the skills in a variety of financial problems, such as devising and evaluating trading strategies, portfolio construction, and risk assessment, among others. Students are expected to have basic level of coding experience in any other language and a good technical background (namely should be familiar with linear regression and basic linear algebra).
PROGRAMMES WITH THIS ELECTIVE

Executive MBA Dubai

Executive MBA London

MBA

Masters in Financial Analysis

Masters in Finance Full-time

Masters in Finance Part-time

Masters in Management
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Francisco Gomes

Portfolio choice over the life-cycle: a survey

Life-cycle portfolio choice with liquid and illiquid assets

Fiscal policy and asset prices with incomplete markets

Longevity risk, retirement savings, and financial innovation

The excess burden of government indecision

Lending relationships in the interbank market

Optimal savings with taxable and tax-deferred accounts

Asset pricing with limited risk sharing and heterogeneous agents

Optimal life-cycle investing with flexible labor supply: A welfare analysis of life-cycle funds

Exploiting short-run predictability

Discussion of 'Equity premia with benchmark levels of consumption: closed-form results' by Andrew Abel

Consumption and portfolio choice over the life cycle

Optimal life-cycle asset allocation: understanding the empirical evidence

Portfolio choice and trading volume with loss-averse investors

Portfolio choice with internal habit formation: a life-cycle model with uninsurable labor income risk

Investing retirement wealth: a life-cycle model

Stock market mean reversion and the optimal equity allocation of a long lived investor

Evidence on expectations of household finances

Foreseen risks

Tactical target date funds

Evidence on the links between household finances, expectations and emotional well being

Expenditures and financial well-being

Teaching portfolio

Masters Degrees core courses

PROGRAMMES WITH THIS CORE COURSE

Masters Degrees electives

PROGRAMMES WITH THIS ELECTIVE

PROGRAMMES WITH THIS ELECTIVE

PROGRAMMES WITH THIS ELECTIVE