Member, Consortium on Financial Systems and Poverty (2010–present) 

Research Associate, National Bureau of Economic Research (1982–present)

Executive Committee, American Finance Association (2012–2016)

President, Society for Financial Studies (2011–2012)

Vice-President, Society for Financial Studies (2008–2011)

Board of Directors, American Finance Association (1994–1997, 2004–2007)

Advisory Board, Graduate School of Industrial Administration, Carnegie Mellon University (1992-1996, Co-chair, 1999, 2005)

President, Western Finance Association (1993–1994)

Vice-President, Western Finance Association (1990–1993)

Editorial Board, American Economic Review (1987–1990)

Economics Panel, National Science Foundation (1986–1988)