Ishita Sen
Assistant Professor of Finance
Harvard Business School
Baker Library/Bloomberg Center 347
(617) 496-0872
Research areas: Financial Intermediation; Regulation; Insurance Markets; Empirical Asset Pricing
Publications
Regulatory Limits to Risk Management.
Review of Financial Studies, Volume 36, Issue 6, June 2023, pp. 2175–2223. Lead Article and Editor’s Choice.
* Winner of the RFS Rising Scholar Award, 2024
* Winner of the 2020 Q-Group Jack Treynor Prize.
* European Finance Association, Best Paper Prize, 2019.
* MFM Fellowship from the Alfred P. Sloan Foundation, University of Chicago, 2017 & 2018.
* AQR Fellowship Award, Winner, 2018.
Publisher's version Internet appendix
Working Papers
Climate Risk and the U.S. Insurance Gap: Measurement, Drivers and Implications. May 2024.
Joint with Pari Sastry, Tess Scharlemann, and Ana-Maria Tenekedijieva
* Draft available upon request.
When Insurers Exit: Climate Losses, Fragile Insurers, and Mortgage Markets. June 2024.
Joint with Pari Sastry and Ana-Maria Tenekedijieva
* Selected presentations: NBER Innovative Data in Household Finance 2023, MFA 2024, Adam Smith Workshop 2024, ASU Sonoran Winter Conference 2024, Baruch College Conference on Climate Finance and ESG, SFS Cavalcade 2024; WFA 2024; Freddie Mac Climate Risk Seminar; NBER Insurance Working Group; NYU Stern/ NY Fed Summer Climate Finance Conference; ECB-FRBNY Workshop, EFA 2024, NBER Summer Institute (Corporate Finance) 2024, AFA 2025, SITE Financial Regulation 2024
* Coverage: Inside Mortgage Finance (1), The Tampa Bay Times (1), The Insurance Journal, Newsweek, Bloomberg, MSN, GovTech, Insurance Business Magazine, The Tampa Bay Times (2), S&P Global Market Intelligence, Politico Energy & Environment, Miami Herald, Law360, ESGDive, Insurance News, New York Times, Green Building Elements, Yahoo Finance, Inside Mortgage Finance (2)
* Policy: Senate Budget Committee Testimony, Senator Whitehouse's Climate Risk Speech at the US Senate, Citation in Congressional Letter to the NAIC
Pricing of Climate Risk Insurance: Regulation and Cross-Subsidies. December 2022.
Joint with Sangmin Oh and Ana-Maria Tenekedijieva
Revise & Resubmit, Journal of Finance
* E-axes Forum Research Award in Macroeconomics and Sustainability, 2023.
* Best Paper Prize in Responsible Finance, European Finance Association, 2022.
* Research Fellowship, Center of Insurance Policy Research, NAIC
* GSSI International Real Estate Review Best Paper Award, AREUEA (Shortlisted)
* Selected presentations: AFA 2024, NBER Summer Institute (Corporate Finance) 2022, Stanford SITE (Climate Finance) 2022, SFS Cavalcade 2022, EFA 2022, FIRS 2022, Becker Friedman Institute 2022, NBER Insurance Meeting 2021, Stanford SITE (Urban and Housing) 2021
* Coverage: New York Times, HBS Working Knowledge, Financial Times, Regulatory Review, Green Central Banking, Insurance Business Magazine
* Policy: House Financial Services Committee Statement for the Record
Institutional Corporate Bond Pricing. May 2024.
Joint with Lorenzo Bretscher, Lukas Schmid, and Varun Sharma
Revise & Resubmit, Review of Financial Studies
* Inquire Europe Research Grant, 2021
* Selected presentations: NBER Asset Management 2022, AFA 2022, SFS Cavalcade 2022, EFA 2022, FIRS 2022
Joint with Umang Khetan, Jane Li, and Ioana Neamtu
* Inquire Europe Research Grant, 2024
* Selected presentations: AFA 2025, SFS Cavalcade 2024, OFR Rising Scholar Conference 2024, European Summer Symposium in Financial Markets, Columbia Workshop in New Empirical Finance, EFA 2024
Internal Models, Make Believe Prices, and Bond Market Cornering. June 2020.
Joint with Varun Sharma
* Selected presentations: WFA 2021, FIRS 2021, EFA 2021, NBER Insurance Meeting 2020, WFA-CFAR Conference (Washington University in St. Louis) 2020
Capital Regulation and Product Market Outcomes. January 2020.
Joint with David Humphry (Bank of England)
* Selected presentations: AFA 2017, Becker Friedman Institute Macro Finance Summer Session 2017
Policy Reports
US Senate Budget Committee Testimony on "Riskier Business: How Climate is Already Challenging Insurance Markets," June 2024.
Congressional Statement for the Record, Hearing on "Factors Influencing the High Cost of Insurance for Consumers," November 2023.