Faculty Directory

Jonathan Brogaard


Office: 434 PACCAR Hall
Phone: 206-685-7822
Fax: 206-543-7472
Email: brogaard(at)uw.edu

Foster School of Business
University of Washington
Box: 353226
Seattle, WA 98195-3226

Jonathan Brogaard

Assistant Professor of Finance
GM Nameplate Endowed Faculty Fellow


PhD Northwestern University (2012)
JD Northwestern University (2012)
BA Occidental College (2006)

Academic Expertise

asset pricing
financial markets
high frequency trading
market microstructure
private equity
venture capital


Financial Services
Investment Banking
Private Equity
Securities & Commodity Exchanges

Current Research

Does government spending spur innovation with Matthew Denes and Ran Duchin,
The impact of intraday circuit breakers with Kevin Roshak,
The information content of credit rating changes: Evidence from trading volume with Jennifer Koski and Andrew Siegel,
Price impact with Robert Korajczyk,
Why do we tenure? Analysis of a long standing risk-based explanation with Joseph Engelberg and Ed van Wesep

Positions Held

At the University of Washington since 2011

Selected Publications

  1. Trading Fast and Slow: Colocation and Market Quality
    Journal Article: Brogaard, J., Hagerstrőmer, B., Norden, L., & Riordan, R., (forthcoming). Review of Financial Studies,
  2. The Asset Pricing Implications of Government Economic Policy Uncertainty
    Journal Article: Brogaard, J., & Detzel, A., (2015). Management Science, Vol. 61(1), pp. 3-18.
  3. High-Frequency Trading and Price Discovery
    Journal Article: Brogaard, J., Hendershott, T., & Riordan, R., (2014). The Review of Financial Studies, Vol. 27(8), pp. 2267-2353.
  4. High-Frequency Trading and the Execution Costs of Institutional Investors
    Journal Article: Brogaard, J., Hendershott, T., Hunt, S., & Ysusi, C., (2014). Financial Review, Vol. 49(2), pp. 345-369.
  5. Networks and Productivity: Causal Evidence from Editor Rotations
    Journal Article: Brogaard, J., Engelberg, J., & Parsons, C., (2014). Journal of Financial Economics, Vol. 111(1), pp. 251-270.

Working Papers

Do banking regulations have uniform effects? Evidence from changes in deposit insurance with Kathryn Dewenter and Alan Hess
The effectiveness of the 2008-2010 housing tax credit with Kevin Roshak
High frequency trading and extreme price movements with Ryan Riordan, Andriy Shkilko, and Konstantin Sokolov
High frequency trading and the 2008 short sale ban with Terrence Hendershott and Ryan Riordan
High frequency trading competition with Corey Garriott
Risk and return in high frequency trading with Matthew Baron and Andrei Kirilenko
Trading fast and slow: Colocation and liquidity with Bjorn Hagstromer, Lars Norden, and Ryan Riordan
The world price of political uncertainty with Lili Dai, Phong Ngo, and Bohui Zhang

Honors and Awards

Visiting Fellow, Australian National University (2014-2015)
Investment Industry Regulatory Organization of Canada Grant to conduct research on high frequency trading (2014)
Best Paper Award at the Northern Finance Association Annual Meeting (2012)
Bank of Canada research partnership (2012)
UK Foresight Fellowship Grant to conduct research on high frequency trading (2011)
CFTC Research Grant (2011)