The Purdue University Research Center in Economics (PURCE) hosts a number of events each year that highlight our faculty, their research, and the research's ability to help community groups, businesses, and government address economic challenges. The center also hosts visitors to campus for lectures and more intimate conversations; many events are open to the public while some are reserved for students or PURCE partners and supporters.
If you would like to be invited to our events, join our mailing list by sharing your contact information with us by emailing purce@purdue.edu.
PURCE hosts for community, business and government leaders and academic peers a monthly in-person economic policy luncheon, which includes a faculty talk, catered lunch, networking and Q&A.
Students: The center greatly appreciates your interest in these events. However, because PURCE's economic policy luncheons regularly reach capacity, we must reserve registrations for members of the business community. Seats will open up for Economics PhD students only if space is available.
Since 1927, the U.S. stock market has done substantially better under Democratic presidents than under Republicans, with the difference in annual stock market returns between the two parties averaging around 10% per year. This well-documented pattern has been dubbed the "presidential puzzle."
Annual GDP growth shows a similar partisan gap. Faccio confirms this pattern using recent data. Before 1927, however, she finds that the "puzzle" reverses. Using data going back as far as 1791, she shows that annual stock market returns were almost 6% higher per year under Republican (or conservative) presidents. Annual GDP growth was 1.7% higher. Having examined competing explanations, Faccio concludes that the two opposing "puzzles" share one common source: investor risk aversion at election time. Whichever party won the election when risk aversion was high enjoyed higher subsequent returns.
Mara Faccio is the Daniels School’s Tom and Patty Hefner Chair in Finance. Her primary research interests are in international finance and corporate finance. She is one of the most highly cited finance scholars. The PURCE faculty affiliate was among Stanford University and Elsevier’s top 2% of most influential scientists in the world for 2025.
Space is limited for PURCE luncheons, and registration is required. Please register here by noon on Friday, November 6.
Reach out to us with any questions at purce@purdue.edu and (765) 494-3782 and be sure to follow us on X.
Curious about what we've been up to?
We're glad to share information on past PURCE events, including our popular luncheon series, information sessions at the Indiana Statehouse, and more.
