NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Financial Economics: General


2014
w20298 Lorenz Kueng
Evgeny Yakovlev

How Persistent Are Consumption Habits? Micro-Evidence from Russia's Alcohol Market

w20278 Asli Demirgüç-Kunt
Edward J. Kane
Luc Laeven

Deposit Insurance Database

w20268 Bruce I. Carlin
Li Jiang
Stephen A. Spiller

Learning Millennial-Style

w20209 Jaroslav Borovička
Lars P. Hansen
José A. Scheinkman

Misspecified Recovery

w20165 Anil K Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

How does macroprudential regulation change bank credit supply?

w20154 Stefano Giglio
Matteo Maggiori
Johannes Stroebel

No-Bubble Condition: Model-free Tests in Housing Markets

w20152 Atif Mian
Amir Sufi

House Price Gains and U.S. Household Spending from 2002 to 2006

w20110 George M. Constantinides
Anisha Ghosh

Asset Pricing with Countercyclical Household Consumption Risk

w20083 Pierre-Cyrille Hautcoeur
Angelo Riva
Eugene N. White

Floating a "Lifeboat": The Banque de France and the Crisis of 1889

w20075 Tomas Philipson
Ralph Koijen
Harald Uhlig

Financial Health Economics

w20027 Gary B. Gorton
Andrew Metrick
Lei Xie

The Flight from Maturity

w19986 Werner Erhard
Michael C. Jensen

Putting integrity Into Finance: A Purely Positive Approach

w19984 Nicole Boyson
Rüdiger Fahlenbrach
René M. Stulz

Why Do Banks Practice Regulatory Arbitrage? Evidence from Usage of Trust Preferred Securities

w19958 Roger Farmer
Asset Prices in a Lifecycle Economy

w19957 Peter Koudijs
Hans-Joachim Voth

Leverage and Beliefs: Personal Experience and Risk Taking in Margin Lending

w19945 Sumit Agarwal
Itzhak Ben-David

Do Loan Officers’ Incentives Lead to Lax Lending Standards?

w19931 Dimitri Vayanos
Peter Kondor

Liquidity Risk and the Dynamics of Arbitrage Capital

w19909 Juan Carlos Conesa
Timothy J. Kehoe

Is It Too Late to Bail Out the Troubled Countries in the Eurozone?

w19885 Zhiguo He
Arvind Krishnamurthy

A Macroeconomic Framework for Quantifying Systemic Risk

w19834 Alexander Ljungqvist
Wenlan Qian

How Constraining Are Limits to Arbitrage? Evidence from a Recent Financial Innovation

w19823 Carmen M. Reinhart
Kenneth S. Rogoff

Recovery from Financial Crises: Evidence from 100 Episodes

w19818 Daniel L. Greenwald
Martin Lettau
Sydney C. Ludvigson

Origins of Stock Market Fluctuations

w19809 Kathy Fogel
Liping Ma
Randall Morck

Powerful Independent Directors

w19798 Hyun-Soo Choi
Harrison Hong
Jeffrey Kubik
Jeffrey P. Thompson

When Real Estate is the Only Game in Town

w19791 Matthieu Bussière
Gong Cheng
Menzie D. Chinn
Noëmie Lisack

For a Few Dollars More: Reserves and Growth in Times of Crises


2013
w19773 Viral V. Acharya
Bruce Tuckman

Unintended Consequences of LOLR Facilities: The Case of Illiquid Leverage

w19707 Viral V. Acharya
Hanh Le
Hyun Song Shin

Bank Capital and Dividend Externalities

w19705 Pierre Collin-Dufresne
Michael Johannes
Lars A. Lochstoer

Parameter Learning in General Equilibrium: The Asset Pricing Implications

w19704 Javier Bianchi
Enrique G. Mendoza

Optimal Time-Consistent Macroprudential Policy

w19701 Daron Acemoglu
Simon Johnson
Amir Kermani
James Kwak
Todd Mitton

The Value of Connections in Turbulent Times: Evidence from the United States

w19671 Andrés Fernández
Alessandro Rebucci
Martín Uribe

Are Capital Controls Prudential? An Empirical Investigation

w19655 Carmen M. Reinhart
Asia Chartbook: Crises, Credit and Debt, 1835-2013

w19652 Carmen M. Reinhart
Takeshi Tashiro

Crowding Out Redefined: The Role of Reserve Accumulation

w19650 Alessandro Beber
Michael W. Brandt
Maurizio Luisi

Distilling the Macroeconomic News Flow

w19642 Ing-Haw Cheng
Wei Xiong

The Financialization of Commodity Markets

w19633 William Gornall
Ilya A. Strebulaev

Financing as a Supply Chain: The Capital Structure of Banks and Borrowers

w19619 Pierre Collin-Dufresne
Vyacheslav Fos

Moral Hazard, Informed Trading, and Stock Prices

w19606 Sumit Agarwal
Itzhak Ben-David
Vincent Yao

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

w19594 Thomas F. Cooley
Ramon Marimon
Vincenzo Quadrini

Risky Investments with Limited Commitment

w19570 Clemens Sialm
Zheng Sun
Lu Zheng

Home Bias and Local Contagion: Evidence from Funds of Hedge Funds

w19569 Clemens Sialm
Laura Starks
Hanjiang Zhang

Defined Contribution Pension Plans: Sticky or Discerning Money?

w19548 Cristina Arellano
Yan Bai

Linkages across Sovereign Debt Markets

w19541 Larry G. Epstein
Emmanuel Farhi
Tomasz Strzalecki

How Much Would You Pay to Resolve Long-Run Risk?

w19540 Gary Gorton
The Development of Opacity in U.S. Banking

w19514 Markus K. Brunnermeier
Martin Oehmke

Predatory Short Selling

w19484 Sumit Agarwal
Souphala Chomsisengphet
Neale Mahoney
Johannes Stroebel

Regulating Consumer Financial Products: Evidence from Credit Cards

w19467 Patrick Bolton
Xavier Freixas
Leonardo Gambacorta
Paolo Emilio Mistrulli

Relationship and Transaction Lending in a Crisis

w19432 Ing-Haw Cheng
Harrison Hong
Kelly Shue

Do Managers Do Good with Other People's Money?

w19429 Lauren Cohen
Dong Lou
Christopher Malloy

Playing Favorites: How Firms Prevent the Revelation of Bad News

w19416 Ian Dew-Becker
Stefano Giglio

Asset Pricing in the Frequency Domain: Theory and Empirics

w19392 James Andreoni
Michael A. Kuhn
Charles Sprenger

On Measuring Time Preferences

w19389 Arvind Krishnamurthy
Stefan Nagel

Interpreting Repo Statistics in the Flow of Funds Accounts

w19381 Nicolae Gârleanu
Stavros Panageas
Jianfeng Yu

Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion

w19375 Bryan Kelly
Hao Jiang

Tail Risk and Asset Prices

w19300 Lily Fang
Victoria Ivashina
Josh Lerner

Combining Banking with Private Equity Investing

w19299 Lily Fang
Victoria Ivashina
Josh Lerner

The Disintermediation of Financial Markets: Direct Investing in Private Equity

w19290 Yen-cheng Chang
Harrison Hong
Inessa Liskovich

Regression Discontinuity and the Price Effects of Stock Market Indexing

w19246 Robin Greenwood
Samuel Hanson

Waves in Ship Prices and Investment

w19240 Pierre-Olivier Gourinchas
Hélène Rey

External Adjustment, Global Imbalances and Valuation Effects

w19207 Nicolas Petrosky-Nadeau
Lu Zhang

Unemployment Crises

w19189 Nicholas Barberis
Robin Greenwood
Lawrence Jin
Andrei Shleifer

X-CAPM: An Extrapolative Capital Asset Pricing Model

w19168 Jeffrey R. Brown
Arie Kapteyn
Erzo F.P. Luttmer
Olivia S. Mitchell

Decision Complexity as a Barrier to Annuitization

w19146 Rajnish Mehra
Asset Pricing Implications of Macroeconomic Interventions An Application to Climate Policy

w19139 Harry DeAngelo
René M. Stulz

Why High Leverage is Optimal for Banks

w19132 Russell Cooper
Hubert Kempf

Deposit Insurance and Orderly Liquidation without Commitment: Can we Sleep Well?

w19125 Joshua Aizenman
Mahir Binici
Michael M. Hutchison

Credit Ratings and the Pricing of Sovereign Debt during the Euro Crisis

w19103 Robin L. Lumsdaine
Rogier J.D. Potter van Loon

Wall Street vs. Main Street: An Evaluation of Probabilities

w19093 Franziska Bremus
Claudia Buch
Katheryn Russ
Monika Schnitzer

Big Banks and Macroeconomic Outcomes: Theory and Cross-Country Evidence of Granularity

w19051 Tobias Berg
Manju Puri
Jorg Rocholl

Loan officer Incentives and the Limits of Hard Information

w19050 Rajkamal Iyer
Manju Puri
Nicholas Ryan

Do Depositors Monitor Banks?

w19039 Viral V. Acharya
Sascha Steffen

The “Greatest” Carry Trade Ever? Understanding Eurozone Bank Risks

w19022 Guillermo Ordonez
Sustainable Shadow Banking

w19018 Malcolm Baker
Jeffrey Wurgler

Do Strict Capital Requirements Raise the Cost of Capital? Banking Regulation and the Low Risk Anomaly

w18968 Viral V. Acharya
Robert Engle
Diane Pierret

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights

w18946 Martin Čihák
Asli Demirgüč-Kunt
Erik Feyen
Ross Levine

Financial Development in 205 Economies, 1960 to 2010

w18944 John H. Cochrane
Finance: Function Matters, not Size.

w18914 Stefano Giglio
Kelly Shue

No News is News: Do Markets Underreact to Nothing?

w18912 Andrew G. Atkeson
Andrea L. Eisfeldt
Pierre-Olivier Weill

The Market for OTC Derivatives

w18905 Wei Xiong
Bubbles, Crises, and Heterogeneous Beliefs

w18904 Ing-Haw Cheng
Sahil Raina
Wei Xiong

Wall Street and the Housing Bubble

w18891 Viral V. Acharya
Marco Pagano
Paolo Volpin

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent

w18868 Manuel Adelino
Antoinette Schoar
Felipe Severino

House Prices, Collateral and Self-Employment

w18814 Christopher M. Meissner
Capital Flows, Credit Booms, and Financial Crises in the Classical Gold Standard Era

w18764 Veronika K. Pool
Clemens Sialm
Irina Stefanescu

It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans

w18754 Jing Wu
Yongheng Deng
Jun Huang
Randall Morck
Bernard Yeung

Incentives and Outcomes: China’s Environmental Policy

w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy

w18732 Gary B. Gorton
Guillermo Ordoñez

The Supply and Demand for Safe Assets

w18727 Daron Acemoglu
Asuman Ozdaglar
Alireza Tahbaz-Salehi

Systemic Risk and Stability in Financial Networks

w18725 Jacob Boudoukh
Ronen Feldman
Shimon Kogan
Matthew Richardson

Which News Moves Stock Prices? A Textual Analysis

w18686 Robin Greenwood
Andrei Shleifer

Expectations of Returns and Expected Returns

w18670 Itay Goldstein
Assaf Razin

Three Branches of Theories of Financial Crises


2012
w18647 Roger E.A. Farmer
Carine Nourry
Alain Venditti

The Inefficient Markets Hypothesis: Why Financial Markets Do Not Work Well in the Real World

w18644 Ricardo J. Caballero
Joseph B. Doyle

Carry Trade and Systemic Risk: Why are FX Options so Cheap?

w18621 Nicholas C. Barberis
Thirty Years of Prospect Theory in Economics: A Review and Assessment

w18611 Gary Gorton
Andrew Metrick

Securitization

w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

w18601 Daniel Gottlieb
Kent Smetters

Narrow Framing and Life Insurance

w18562 Cary Frydman
Nicholas Barberis
Colin Camerer
Peter Bossaerts
Antonio Rangel

Using Neural Data to Test a Theory of Investor Behavior: An Application to Realization Utility

w18560 Robert F. Stambaugh
Jianfeng Yu
Yu Yuan

Arbitrage Asymmetry and the Idiosyncratic Volatility Puzzle

w18558 Andrea Frazzini
Lasse H. Pedersen

Embedded Leverage

w18555 Zhi Da
Ravi Jagannathan
Jianfeng Shen

Building Castles in the Air: Evidence from Industry IPO Waves

w18554 Stefan Nagel
Empirical Cross-Sectional Asset Pricing

w18548 Harrison Hong
David Sraer

Speculative Betas

w18547 Harrison Hong
David Sraer

Quiet Bubbles

w18537 Robin Greenwood
Augustin Landier
David Thesmar

Vulnerable Banks

w18528 Victoria Ivashina
David S. Scharfstein
Jeremy C. Stein

Dollar Funding and the Lending Behavior of Global Banks

w18513 Zhiguo He
Asaf Manela

Information Acquisition in Rumor Based Bank Runs

w18510 Jonathan A. Parker
LEADS on Macroeconomic Risks to and from the Household Sector

w18465 Kristin Forbes
The "Big C": Identifying Contagion

w18455 Gary B. Gorton
Andrew Metrick

Who Ran on Repo?

w18452 Pierre Collin-Dufresne
Vyacheslav Fos

Do prices reveal the presence of informed trading?

w18451 Pierre Collin-Dufresne
Vyacheslav Fos

Insider Trading, Stochastic Liquidity and Equilibrium Prices

w18450 Frederico Belo
Pierre Collin-Dufresne
Robert S. Goldstein

Endogenous Dividend Dynamics and the Term Structure of Dividend Strips

w18427 Charles W. Calomiris
Joseph R. Mason
Marc Weidenmier
Katherine Bobroff

The Effects of Reconstruction Finance Corporation Assistance on Michigan’s Banks’ Survival in the 1930s

w18408 Zhiguo He
Konstantin Milbradt

Endogenous Liquidity and Defaultable Bonds

w18398 Markus K. Brunnermeier
Martin Oehmke

Bubbles, Financial Crises, and Systemic Risk

w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis

w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses

w18357 Ravi Bansal
Ivan Shaliastovich

A Long-Run Risks Explanation of Predictability Puzzles in Bond and Currency Markets

w18335 Tobias Adrian
Paolo Colla
Hyun Song Shin

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9

w18329 Kristin J. Forbes
Francis E. Warnock

Debt- and Equity-Led Capital Flow Episodes

w18321 Ralph S.J. Koijen
Motohiro Yogo

The Cost of Financial Frictions for Life Insurers

w18304 Efraim Benmelech
An Empirical Analysis of the Fed's Term Auction Facility

w18291 Lauren Cohen
Karl B. Diether
Christopher Malloy

Legislating Stock Prices

w18274 Nicolas Berman
José De Sousa
Philippe Martin
Thierry Mayer

Time to Ship During Financial Crises

w18264 Carola Frydman
Eric Hilt
Lily Y. Zhou

Economic Effects of Runs on Early 'Shadow Banks': Trust Companies and the Impact of the Panic of 1907

w18263 Florian Heider
Alexander Ljungqvist

As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from Exogenous State Tax Changes

w18251 Dimitri Vayanos
Jiang Wang

Market Liquidity — Theory and Empirical Evidence

w18241 Leonardo Bursztyn
Florian Ederer
Bruno Ferman
Noam Yuchtman

Understanding Peer Effects in Financial Decisions: Evidence from a Field Experiment

w18169 Kent Daniel
Ravi Jagannathan
Soohun Kim

Tail Risk in Momentum Strategy Returns

w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship

w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey

w18112 Edward L. Glaeser
The Political Risks of Fighting Market Failures: Subversion, Populism and the Government Sponsored Enterprises

w18104 Ravi Bansal
Dana Kiku
Ivan Shaliastovich
Amir Yaron

Volatility, the Macroeconomy and Asset Prices

w18082 Christopher L. Foote
Kristopher S. Gerardi
Paul S. Willen

Why Did So Many People Make So Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

w18063 Robert Novy-Marx
Pseudo-Predictability in Conditional Asset Pricing Tests: Explaining Anomaly Performance with Politics, the Weather, Global Warming, Sunspots, and the Stars

w18057 Tarek Alexander Hassan
Country Size, Currency Unions, and International Asset Returns

w18052 Kristin Forbes
Marcel Fratzscher
Thomas Kostka
Roland Straub

Bubble Thy Neighbor: Portfolio Effects and Externalities from Capital Controls

w18043 Armen Hovakimian
Edward J. Kane
Luc Laeven

Variation in Systemic Risk at US Banks During 1974-2010

w18027 Raghuram Rajan
Rodney Ramcharan

The Anatomy of a Credit Crisis: The Boom and Bust in Farm Land Prices in the United States in the 1920s.

w18024 Ulrike Malmendier
Enrico Moretti
Florian S. Peters

Winning by Losing: Evidence on the Long-Run Effects of Mergers

w18013 Franklin Allen
Elena Carletti
Robert Cull
Jun Qian
Lemma Senbet
Patricio Valenzuela

Resolving the African Financial Development Gap: Cross-Country Comparisons and a Within-Country Study of Kenya

w17945 Steven Grenadier
Andrey Malenko
Ilya A. Strebulaev

Investment Busts, Reputation, and the Temptation to Blend in with the Crowd

w17942 David T. Robinson
Berk A. Sensoy

Do Private Equity Managers Earn Their Fees? Compensation, Ownership, and Cash Flow Performance

w17941 Carmen M. Reinhart
A Series of Unfortunate Events: Common Sequencing Patterns in Financial Crises

w17935 Zhiguo He
Wei Xiong

Debt Financing in Asset Markets

w17929 Sendhil Mullainathan
Markus Noeth
Antoinette Schoar

The Market for Financial Advice: An Audit Study

w17921 Ing-Haw Cheng
Andrei Kirilenko
Wei Xiong

Convective Risk Flows in Commodity Futures Markets

w17911 Olivia S. Mitchell
Stephen Utkus

Target-Date Funds in 401(k) Retirement Plans

w17904 Nikolai Roussanov
Pavel G. Savor

Status, Marriage, and Managers' Attitudes To Risk

w17868 Charles W. Calomiris
Doron Nissim

Crisis-Related Shifts in the Market Valuation of Banking Activities

w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective

w17843 James J. Choi
Emily Haisley
Jennifer Kurkoski
Cade Massey

Small Cues Change Savings Choices

w17838 Viral V. Acharya
Nada Mora

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis

w17831 Atif R. Mian
Amir Sufi
Francesco Trebbi

Resolving Debt Overhang: Political Constraints in the Aftermath of Financial Crises

w17778 Gary B. Gorton
Andrew Metrick

Getting up to Speed on the Financial Crisis: A One-Weekend-Reader's Guide

w17771 Gary B. Gorton
Guillermo Ordonez

Collateral Crises

w17768 Arvind Krishnamurthy
Stefan Nagel
Dmitry Orlov

Sizing Up Repo

w17764 Sebastian Edwards
Is Tanzania a Success Story? A Long Term Analysis


2011
w17717 Gregor Matvos
Amit Seru

Resource Allocation within Firms and Financial Market Dislocation: Evidence from Diversified Conglomerates

w17687 Joseph Fan
Randall Morck
Bernard Yeung

Capitalizing China

w17685 Dwight Jaffee
John M. Quigley

The Future of the Government Sponsored Enterprises: The Role for Government in the U.S. Mortgage Market

w17615 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Time-Varying Fund Manager Skill

w17574 Ravi Bansal
Marcelo Ochoa

Welfare Costs of Long-Run Temperature Shifts

w17558 Viral V. Acharya
A Transparency Standard for Derivatives

w17555 Arvind Krishnamurthy
Annette Vissing-Jorgensen

The Effects of Quantitative Easing on Interest Rates: Channels and Implications for Policy

w17464 Lubos Pastor
Pietro Veronesi

Political Uncertainty and Risk Premia

w17443 Alejandro Komai
Gary Richardson

A Brief History of Regulations Regarding Financial Markets in the United States: 1789 to 2009

w17422 Jakub W. Jurek
Erik Stafford

Crashes and Collateralized Lending

w17407 Joshua Aizenman
Michael M. Hutchison
Yothin Jinjarak

What is the Risk of European Sovereign Debt Defaults? Fiscal Space, CDS Spreads and Market Pricing of Risk

w17401 Barry Eichengreen
Nergiz Dincer

Who Should Supervise? The Structure of Bank Supervision and the Performance of the Financial System

w17388 John R. Graham
Sonali Hazarika
Krishnamoorthy Narasimhan

Financial Distress in the Great Depression

w17358 Claudio Raddatz
Sergio L. Schmukler

On the International Transmission of Shocks: Micro-Evidence from Mutual Fund Portfolios

w17328 Robert J. Barro
José F. Ursua

Rare Macroeconomic Disasters

w17323 Stephen A. Ross
The Recovery Theorem

w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds

w17315 Gene Amromin
Jennifer Huang
Clemens Sialm
Edward Zhong

Complex Mortgages

w17281 Darrell Duffie
Systemic Risk Exposures: A 10-by-10-by-10 Approach

w17269 Isil Erel
Taylor D. Nadauld
René M. Stulz

Why Did U.S. Banks Invest in Highly-Rated Securitization Tranches?

w17238 Jie (Jack) He
Jun 'QJ' Qian
Philip E. Strahan

Are All Ratings Created Equal? The Impact of Issuer Size on the Pricing of Mortgage-backed Securities

w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees

w17121 Geert Bekaert
Michael Ehrmann
Marcel Fratzscher
Arnaud J. Mehl

Global Crises and Equity Market Contagion

w17115 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

A Model of Shadow Banking

w17091 Pol Antràs
C. Fritz Foley

Poultry in Motion: A Study of International Trade Finance Practices

w17038 Rüdiger Fahlenbrach
Robert Prilmeier
René M. Stulz

This Time Is the Same: Using Bank Performance in 1998 to Explain Bank Performance During the Recent Financial Crisis

w16999 Rajashri Chakrabarti
Donghoon Lee
Wilbert van der Klaauw
Basit Zafar

Household Debt and Saving During the 2007 Recession

w16972 John H. Cochrane
Discount Rates

w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects

w16965 Thomas Philippon
Virgiliu Midrigan

Household Leverage and the Recession

w16899 Patrick Bolton
Olivier Jeanne

Sovereign Default Risk and Bank Fragility in Financially Integrated Economies

w16898 Robert F. Stambaugh
Jianfeng Yu
Yu Yuan

The Short of It: Investor Sentiment and Anomalies

w16896 Viral V. Acharya
Irvind Gujral
Nirupama Kulkarni
Hyun Song Shin

Dividends and Bank Capital in the Financial Crisis of 2007-2009

w16884 Ian Martin
Simple Variance Swaps

w16883 Jeremy C. Stein
Monetary Policy as Financial-Stability Regulation

w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market

w16808 Patrick Bolton
Hui Chen
Neng Wang

Market Timing, Investment, and Risk Management

w16801 Andrew Ang
Sergiy Gorovyy
Gregory B. van Inwegen

Hedge Fund Leverage

w16787 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Safety-Net Benefits Conferred on Difficult-to-Fail-and-Unwind Banks in the US and EU Before and During the Great Recession

w16784 Patrick Bayer
Christopher Geissler
James W. Roberts

Speculators and Middlemen: The Role of Intermediaries in the Housing Market

w16777 Nicolae Gârleanu
Lasse Heje Pedersen

Margin-Based Asset Pricing and Deviations from the Law of One Price

w16766 Efraim Benmelech
Jennifer Dlugosz
Victoria Ivashina

Securitization without Adverse Selection: The Case of CLOs

w16755 Frederic S. Mishkin
Monetary Policy Strategy: Lessons from the Crisis

w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts

w16678 Randall Morck
Bernard Yeung

Economics, History, and Causation


2010
w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics

w16609 Frederic S. Mishkin
Over The Cliff: From the Subprime to the Global Financial Crisis

w16595 Gabriel Jiménez
Atif R. Mian
José-Luis Peydró
Jesús Saurina

Local Versus Aggregate Lending Channels: The Effects Of Securitization On Corporate Credit Supply In Spain

w16589 Michael D. Bordo
John S. Landon-Lane

The Global Financial Crisis of 2007-08: Is it Unprecedented?

w16559 Charles W. Calomiris
Inessa Love
Maria Soledad Martinez Peria

Crisis “Shock Factors” and the Cross-Section of Global Equity Returns

w16553 Priyank Gandhi
Hanno Lustig

Size Anomalies in U.S. Bank Stock Returns: A Fiscal Explanation

w16534 Alessandro Beber
Michael W. Brandt
Kenneth A. Kavajecz

What Does Equity Sector Orderflow Tell Us about the Economy?

w16468 Xing Hu
Jun Pan
Jiang Wang

Noise as Information for Illiquidity

w16455 Jules H. van Binsbergen
Michael W. Brandt
Ralph S.J. Koijen

On the Timing and Pricing of Dividends

w16429 Ricardo J. Caballero
Macroeconomics after the Crisis: Time to Deal with the Pretense-of-Knowledge Syndrome

w16399 Alberto Martin
Jaume Ventura

Theoretical Notes on Bubbles and the Current Crisis

w16337 Adam Ashcraft
Nicolae Gârleanu
Lasse Heje Pedersen

Two Monetary Tools: Interest Rates and Haircuts

w16249 John D. Burger
Francis E. Warnock
Veronica Cacdac Warnock

Emerging Local Currency Bond Markets

w16245 Charles Courtemanche
Kenneth A. Snowden

Repairing a Mortgage Crisis: HOLC Lending and its Impact on Local Housing Markets

w16244 Kenneth A. Snowden
The Anatomy of a Residential Mortgage Crisis: A Look Back to the 1930s

w16214 Ravi Jagannathan
Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms

w16206 Richard Stanton
Nancy Wallace

CMBS Subordination, Ratings Inflation, and the Crisis of 2007-2009

w16200 Efraim Benmelech
Nittai K. Bergman

Credit Traps

w16191 Alberto Manconi
Massimo Massa
Ayako Yasuda

The Behavior of Intoxicated Investors: The role of institutional investors in propagating the crisis of 2007-2008

w16178 Andrew Ellul
Vijay Yerramilli

Stronger Risk Controls, Lower Risk: Evidence from U.S. Bank Holding Companies

w16177 Franklin Allen
Ana Babus
Elena Carletti

Financial Connections and Systemic Risk

w16176 Ing-Haw Cheng
Harrison Hong
Jose A. Scheinkman

Yesterday's Heroes: Compensation and Creative Risk-Taking

w16174 Davin Chor
Kalina Manova

Off the Cliff and Back? Credit Conditions and International Trade during the Global Financial Crisis

w16159 Philippe Bacchetta
Cédric Tille
Eric van Wincoop

Self-Fulfilling Risk Panics

w16145 Christopher L. House
Yusufcan Masatlioglu

Managing Markets for Toxic Assets

w16128 Lubos Pastor
Pietro Veronesi

Uncertainty about Government Policy and Stock Prices

w16080 V.V. Chari
Ali Shourideh
Ariel Zetlin-Jones

Adverse Selection, Reputation and Sudden Collapses in Secondary Loan Markets

w16068 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Neglected Risks, Financial Innovation, and Financial Fragility

w16061 Rajnish Mehra
Indian Equity Markets: Measures of Fundamental Value

w16042 Brock Mendel
Andrei Shleifer

Chasing Noise

w16027 Michael D. Bordo
David Hargreaves
Mizuho Kida

Global shocks, economic growth and financial crises: 120 years of New Zealand experience

w15988 Jack Favilukis
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium

w15974 Nicola Cetorelli
Linda S. Goldberg

Global Banks and International Shock Transmission: Evidence from the Crisis

w15956 Ross Levine
An Autopsy of the U.S. Financial System

w15927 Olivier Jeanne
Anton Korinek

Excessive Volatility in Capital Flows: A Pigouvian Taxation Approach

w15919 Zhiguo He
In Gu Khang
Arvind Krishnamurthy

Balance Sheet Adjustments in the 2008 Crisis

w15896 Atif R. Mian
Amir Sufi

Household Leverage and the Recession of 2007 to 2009

w15861 Jeffrey Brown
Stephen G. Dimmock
Jun-Koo Kang
Scott Weisbenner

How University Endowments Respond to Financial Market Shocks: Evidence and Implications

w15850 Yacine Aït-Sahalia
Julio Cacho-Diaz
Roger J.A. Laeven

Modeling Financial Contagion Using Mutually Exciting Jump Processes

w15843 Annamaria Lusardi
Daniel J. Schneider
Peter Tufano

The economic crisis and medical care usage

w15833 Allaudeen Hameed
Randall Morck
Jianfeng Shen
Bernard Yeung

Information, analysts, and stock return comovement

w15809 Yacine Aït-Sahalia
Jochen Andritzky
Andreas Jobst
Sylwia Nowak
Natalia Tamirisa

Market Response to Policy Initiatives during the Global Financial Crisis

w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis

w15787 Gary B. Gorton
Questions and Answers about the Financial Crisis

w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection

w15759 David Laibson
Johanna Mollerstrom

Capital Flows, Consumption Booms and Asset Bubbles: A Behavioural Alternative to the Savings Glut Hypothesis

w15730 Viral V. Acharya
Philipp Schnabl
Gustavo Suarez

Securitization without risk transfer

w15708 Efraim Benmelech
Nittai K. Bergman

Bankruptcy and the Collateral Channel

w15688 Ralph S.J. Koijen
Hanno Lustig
Stijn Van Nieuwerburgh

The Cross-Section and Time-Series of Stock and Bond Returns

w15653 Zhiguo He
Wei Xiong

Rollover Risk and Credit Risk

w15636 Ricardo J. Caballero
The "Other" Imbalance and the Financial Crisis

w15634 Angelo Riva
Eugene N. White

Danger on the Exchange: How Counterparty Risk Was Managed on the Paris Bourse in the Nineteenth Century


2009
w15591 Benjamin Chabot
Eric Ghysels
Ravi Jagannathan

Momentum Cycles and Limits to Arbitrage Evidence from Victorian England and Post-Depression US Stock Markets

w15575 Randall Morck
M. Deniz Yavuz
Bernard Yeung

Banking System Control, Capital Allocation, and Economy Performance

w15573 Eugene N. White
Lessons from the Great American Real Estate Boom and Bust of the 1920s

w15552 Murillo Campello
John Graham
Campbell R. Harvey

The Real Effects of Financial Constraints: Evidence from a Financial Crisis

w15542 Arvind Krishnamurthy
How Debt Markets have Malfunctioned in the Crisis

w15538 Marcin Kacperczyk
Philipp Schnabl

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009

w15512 Moritz Schularick
Alan M. Taylor

Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870–2008

w15504 Ravi Bansal
Dana Kiku
Amir Yaron

An Empirical Evaluation of the Long-Run Risks Model for Asset Prices

w15482 Zhiguo He
Wei Xiong

Dynamic Debt Runs

w15458 Pietro Veronesi
Luigi Zingales

Paulson's Gift

w15414 Ricardo Lagos
Guillaume Rocheteau
Pierre-Olivier Weill

Crises and Liquidity in Over-the-Counter Markets

w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Causes of the Great Recession of 2007-9: The Financial Crisis is the Symptom not the Disease!

w15395 Courtney Coile
Phillip B. Levine

The Market Crash and Mass Layoffs: How the Current Economic Crisis May Affect Retirement

w15384 René M. Stulz
Credit Default Swaps and the Credit Crisis

w15381 David B. Brown
Bruce Ian Carlin
Miguel Sousa Lobo

On the Scholes Liquidation Problem

w15379 Stephen G. Cecchetti
Marion Kohler
Christian Upper

Financial Crises and Economic Activity

w15373 Robert S. Pindyck
Neng Wang

The Economic and Policy Consequences of Catastrophes

w15362 Amir E. Khandani
Andrew W. Lo
Robert C. Merton

Systemic Risk and the Refinancing Ratchet Effect

w15356 Stelios Michalopoulos
Luc Laeven
Ross Levine

Financial Innovation and Endogenous Growth

w15334 William N. Goetzmann
Liang Peng
Jacqueline Yen

The Subprime Crisis and House Price Appreciation

w15333 Douglas W. Blackburn
William N. Goetzmann
Andrey D. Ukhov

Risk Aversion and Clientele Effects

w15332 Rik G.P. Frehen
William N. Goetzmann
K. Geert Rouwenhorst

New Evidence on the First Financial Bubble

w15297 Lasse Heje Pedersen
When Everyone Runs for the Exit

w15283 Atif R. Mian
Amir Sufi

House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis

w15275 Asli Demirguc-Kunt
Ross Levine

Finance and Inequality: Theory and Evidence

w15273 Gary B. Gorton
Andrew Metrick

Haircuts

w15247 Robert J. Barro
Tao Jin

On the Size Distribution of Macroeconomic Disasters

w15212 Rüdiger Fahlenbrach
René M. Stulz

Bank CEO Incentives and the Credit Crisis

w15197 Douglas W. Diamond
Raghuram G. Rajan

Illiquidity and Interest Rate Policy

w15180 Andrea Beltratti
René M. Stulz

Why Did Some Banks Perform Better During the Credit Crisis? A Cross-Country Study of the Impact of Governance and Regulation

w15158 Nuno Cassola
Ali Hortacsu
Jakub Kastl

The 2007 Subprime Market Crisis Through the Lens of European Central Bank Auctions for Short-Term Funds

w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages

w15141 Galina Hale
Assaf Razin
Hui Tong

The Impact of Credit Protection on Stock Prices in the Presence of Credit Crunches

w15118 Willem H. Buiter
Negative Nominal Interest Rates: Three ways to overcome the zero lower bound

w15110 Paul Beaudry
Amartya Lahiri

Risk Allocation, Debt Fueled Expansion and Financial Crisis

w15058 Stavros Panageas
Bailouts, the Incentive to Manage Risk, and Financial Crises

w15052 Robert B. Barsky
The Japanese Bubble: A 'Heterogeneous' Approach

w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis

w15042 Randall Morck
Bernard Yeung

Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance

w15040 Arvind Krishnamurthy
Amplification Mechanisms in Liquidity Crises

w14952 Isil Erel
Brandon Julio
Woojin Kim
Michael Weisbach

Market Conditions and the Structure of Securities

w14944 Gary B. Gorton
Lixin Huang
Qiang Kang

The Limitations of Stock Market Efficiency: Price Informativeness and CEO Turnover

w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization

w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze

w14897 Christian Leuz
Catherine Schrand

Disclosure and the Cost of Capital: Evidence from Firms’ Responses to the Enron Shock

w14892 Eric Hilt
Wall Street's First Corporate Governance Crisis: The Panic of 1826

w14889 Zhi Da
Re-Jin Guo
Ravi Jagannathan

CAPM for Estimating the Cost of Equity Capital: Interpreting the Empirical Evidence

w14878 Efraim Benmelech
Jennifer Dlugosz

The Alchemy of CDO Credit Ratings

w14871 Francis A. Longstaff
Brett Myers

Valuing Toxic Assets: An Analysis of CDO Equity

w14867 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Outside and Inside Liquidity

w14843 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Financial Openness and Productivity

w14815 Ravi Bansal
Ivan Shaliastovich

Confidence Risk and Asset Prices

w14814 Ravi Bansal
Ivan Shaliastovich

Learning and Asset-Price Jumps

w14764 Roland Bénabou
Groupthink: Collective Delusions in Organizations and Markets

w14761 Vasiliki Skreta
Laura Veldkamp

Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation

w14760 Robert J. Barro
José F. Ursúa

Stock-Market Crashes and Depressions

w14733 Jung-Wook Kim
Jason Lee
Randall Morck

Characteristics of Observed Limit Order Demand and Supply Schedules for Individual Stocks

w14701 John Y. Campbell
Adi Sunderam
Luis M. Viceira

Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

w14663 Michael G. Palumbo
Jonathan A. Parker

The Integrated Financial and Real System of National Accounts for the United States: Does It Presage the Financial Crisis?

w15611 Stefano Battiston
Domenico Delli Gatti
Mauro Gallegati
Bruce C. Greenwald
Joseph E. Stiglitz

Liaisons Dangereuses: Increasing Connectivity, Risk Sharing, and Systemic Risk

w14649 Gary B. Gorton
Information, Liquidity, and the (Ongoing) Panic of 2007

w14646 Lubos Pastor
Pietro Veronesi

Learning in Financial Markets

w14631 John B. Taylor
The Financial Crisis and the Policy Responses: An Empirical Analysis of What Went Wrong


2008
w14625 Patrick Bajari
Chenghuan Sean Chu
Minjung Park

An Empirical Model of Subprime Mortgage Default From 2000 to 2007

w14609 Zhi Da
Pengjie Gao
Ravi Jagannathan

Informed Trading, Liquidity Provision, and Stock Selection by Mutual Funds

w14574 Zhiguo He
Wei Xiong

Delegated Asset Management, Investment Mandates, and Capital Immobility

w14549 Michelle J. White
Bankruptcy: Past Puzzles, Recent Reforms, and the Mortgage Crisis

w14517 Zhiguo He
Arvind Krishnamurthy

Intermediary Asset Pricing

w14340 Isaac Ehrlich
William A. Hamlen Jr.
Yong Yin

Asset Management, Human Capital, and the Market for Risky Assets

w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors

w13763 Laurence J. Kotlikoff
Ben Marx
David Rapson

To Roth or Not? -- That is the Question


2007
w13713 Ernesto Reuben
Paola Sapienza
Luigi Zingales

Procrastination and Impatience

w13607 Dale F. Gray
Robert C. Merton
Zvi Bodie

New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability

w13245 Michael F. Gallmeyer
Burton Hollifield
Francisco Palomino
Stanley E. Zin

Arbitrage-Free Bond Pricing with Dynamic Macroeconomic Models

w13220 John Donaldson
Rajnish Mehra

Risk Based Explanations of the Equity Premium

w13196 Ravi Bansal
Long-Run Risks and Financial Markets

w13108 Ravi Bansal
Robert Dittmar
Dana Kiku

Cointegration and Consumption Risks in Asset Returns

w13107 Ravi Bansal
A. Ronald Gallant
George Tauchen

Rational Pessimism, Rational Exuberance, and Asset Pricing Models

w12970 Jules H. van Binsbergen
Michael W. Brandt

Optimal Asset Allocation in Asset Liability Management


2006
w12797 Laurent E. Calvet
Adlai J. Fisher

Multifrequency Jump-Diffusions: An Equilibrium Approach

w12634 Dirk Krueger
Hanno Lustig

When is Market Incompleteness Irrelevant for the Price of Aggregate Risk (and when is it not)?

w12609 Monika Piazzesi
Martin Schneider

Equilibrium Yield Curves

w12542 Stephen G. Cecchetti
Measuring the Macroeconomic Risks Posed by Asset Price Booms

w12513 Michael W. Brandt
David A. Chapman

Linear Approximations and Tests of Conditional Pricing Models

w12501 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Cost of Banking Regulation

w12376 Alessandro Beber
Michael W. Brandt
Kenneth A. Kavajecz

Flight-to-Quality or Flight-to-Liquidity? Evidence From the Euro-Area Bond Market

w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?

w12049 Alberto Alesina
Silvia Ardagna
Francesco Trebbi

Who Adjusts and When? On the Political Economy of Reforms

w12036 Monika Piazzesi
Martin Schneider
Selale Tuzel

Housing, Consumption, and Asset Pricing

w12026 John H. Cochrane
The Dog That Did Not Bark: A Defense of Return Predictability

w12020 Darrell Duffie
Nicolae Garleanu
Lasse Heje Pedersen

Valuation in Over-the-Counter Markets


2005
w11843 Nicolae Garleanu
Lasse Heje Pedersen
Allen M. Poteshman

Demand-Based Option Pricing

w11728 Raghuram G. Rajan
Has Financial Development Made the World Riskier?

w11692 Dale T. Mortensen
Eva Nagypal

More on Unemployment and Vacancy Fluctuations

w11574 Qiang Dai
Thomas Philippon

Fiscal Policy and the Term Structure of Interest Rates

w11457 Richard B. Freeman
Does Globalization of the Scientific/Engineering Workforce Threaten U.S. Economic Leadership?

w11400 Lin Peng
Wei Xiong

Investor Attention: Overconfidence and Category Learning

w11367 Harrison Hong
Jose Scheinkman
Wei Xiong

Asset Float and Speculative Bubbles

w11362 Jianping Mei
Jose Scheinkman
Wei Xiong

Speculative Trading and Stock Prices: Evidence from Chinese A-B Share Premia

w11329 Patric Hendershott
Robert J. Hendershott
Bryan D. MacGregor

Evidence on Rationality in Commercial Property Markets: An Interpretation and Critique

w11307 Igal Hendel
Aviv Nevo

Measuring the Implications of Sales and Consumer Inventory Behavior

w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?

w11276 Michael Gallmeyer
Burton Hollifield
Stanley E. Zin

Taylor Rules, McCallum Rules and the Term Structure of Interest Rates

w11132 Hanno Lustig
Yi-Li Chien

The Market Price of Aggregate Risk and the Wealth Distribution

w11104 Hanno Lustig
Adrien Verdelhan

The Cross-Section of Currency Risk Premia and US Consumption Growth Risk


2004
w11005 Luigi Guiso
Paola Sapienza
Luigi Zingales

Cultural Biases in Economic Exchange

w10996 Michael W. Brandt
Pedro Santa-Clara
Rossen Valkanov

Parametric Portfolio Policies: Exploiting Characteristics in the Cross Section of Equity Returns

w10979 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Finance, Inequality, and Poverty: Cross-Country Evidence

w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes

w10955 Hanno Lustig
Stijn Van Nieuwerburgh

A Theory of Housing Collateral, Consumption Insurance and Risk Premia

w10937 Hyunbae Chun
Jung-Wook Kim
Jason Lee
Randall Morck

Patterns of Comovement: The Role of Information Technology in the U.S. Economy

w10850 William M. Gentry
Charles M. Jones
Christopher J. Mayer

Do Stock Prices Really Reflect Fundamental Values? The Case of REITs

w10816 Darrell Duffie
Nicolae Garleanu
Lasse Heje Pedersen

Over-the-Counter Markets

w10814 Viral V. Acharya
Lasse Heje Pedersen

Asset Pricing with Liquidity Risk

w10786 Ricardo J. Caballero
Stavros Panageas

Contingent Reserves Management: An Applied Framework

w10766 Ross Levine
Finance and Growth: Theory and Evidence

w10755 Markus K. Brunnermeier
Lasse Heje Pedersen

Predatory Trading

w10692 Randall Morck
Daniel Wolfenzon
Bernard Yeung

Corporate Governance, Economic Entrenchment and Growth

w10689 Wayne E. Ferson
Andrea Heuson
Tie Su

Weak and Semi-Strong Form Stock Return Predictability, Revisited

w10581 Lubos Pastor
Pietro Veronesi

Was There a Nasdaq Bubble in the Late 1990s?

w10579 Yacine Ait-Sahalia
Robert Kimmel

Maximum Likelihood Estimation of Stochastic Volatility Models

w10556 Alessandro Barbarino
Boyan Jovanovic

Shakeouts and Market Crashes

w10547 Monika Piazzesi
Eric Swanson

Futures Prices as Risk-adjusted Forecasts of Monetary Policy

w10410 Jung-Wook Kim
Jason Lee
Randall K. Morck

Heterogeneous Investors and their Changing Demand and Supply Schedules for Individual Common Stocks

w10400 Mervyn King
The Institutions of Monetary Policy

w10372 Michael W. Brandt
Pedro Santa-Clara

Dynamic Portfolio Selection by Augmenting the Asset Space

w10235 Jeffrey R. Brown
Zoran Ivkovich
Paul A. Smith
Scott Weisbenner

The Geography of Stock Market Participation: The Influence of Communities and Local Firms


2003
w10132 Thomas Cooley
Ramon Marimon
Vincenzo Quadrini

Aggregate Consequences of Limited Contract Enforceability

w10107 Bryan R. Routledge
Stanley E. Zin

Generalized Disappointment Aversion and Asset Prices

w9914 Alessandro Beber
Michael W. Brandt

The Effect of Macroeconomic News on Beliefs and Preferences: Evidence from the Options Market

w9839 Laurent Calvet
Adlai Fisher

Regime-Switching and the Estimation of Multifractal Processes

w9791 Sergey Iskoz
Jiang Wang

How to Tell if a Money Manager Knows More?

w9778 Ricardo J. Caballero
Stavros Panageas

Hedging Sudden Stops and Precautionary Contractions

w9595 Luigi Zingales
Raghuram G. Rajan

Banks and Markets: The Changing Character of European Finance

w9581 Baruch Lev
Suresh Radhakrishnan

The Measurement of Firm-Specific Organization Capital

w9529 Michael W. Brandt
Kenneth A. Kavajecz

Price Discovery in the U.S. Treasury Market: The Impact of Orderflow and Liquidity on the Yield Curve

w9466 William N. Goetzmann
Ning Zhu
Arturo Bris

Efficiency and the Bear: Short Sales and Markets around the World

w9458 Michael W. Brandt
Amir Yaron

Time-Consistent No-Arbitrage Models of the Term Structure

w9454 Alexander Ljungqvist
Matthew Richardson

The cash flow, return and risk characteristics of private equity

w9441 Wayne E. Ferson
Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance

w9434 Leonid Kogan
Stephen Ross
Jiang Wang
Mark Westerfield

The Price Impact and Survival of Irrational Traders


2002
w9353 Mark Grinblatt
Jun Liu

Debt Policy, Corporate Taxes, and Discount Rates

w9214 Patric H. Hendershott
Charles W.R. Ward

Valuing and Pricing Retail Leases with Renewal and Overage Options

w9138 Ross Levine
Bank-Based or Market-Based Financial Systems: Which is Better?

w9116 William Goetzmann
Jonathan Ingersoll
Matthew I. Spiegel
Ivo Welch

Sharpening Sharpe Ratios

w9082 Thorsten Beck
Ross Levine

Stock Markets, Banks, and Growth: Panel Evidence

w9050 Neil Doherty
Kent Smetters

Moral Hazard in Reinsurance Markets

w8982 Thorsten Beck
Ross Levine

Industry Growth and Capital Allocation: Does Having a Market- or Bank-Based System Matter?

w8970 Stephen G. Cecchetti
Hans Genberg
Sushil Wadhwani

Asset Prices in a Flexible Inflation Targeting Framework

w8928 Gary Gorton
Andrew Winton

Financial Intermediation

w8923 Luigi Guiso
Paola Sapienza
Luigi Zingales

Does Local Financial Development Matter?

w8746 Bhagwan Chowdhry
Mark Grinblatt
David Levine

Information Aggregation, Security Design and Currency Swaps

w8745 Mark Grinblatt
Matti Keloharju

Tax-Loss Trading and Wash Sales

w8744 Mark Grinblatt
Tobias J. Moskowitz

What Do We Really Know About the Cross-Sectional Relation Between Past and Expected Returns?

w8734 Mark Grinblatt
Bing Han

The Disposition Effect and Momentum


2001
w8686 William N. Goetzmann
Alok Kumar

Equity Portfolio Diversification

w8654 Randall Morck
Fan Yang

The Mysterious Growing Value of S&P 500 Membership

w8572 Simon Johnson
John McMillan
Christopher Woodruff

Courts and Relational Contracts

w8554 Robert F. Engle
Kevin Sheppard

Theoretical and Empirical properties of Dynamic Conditional Correlation Multivariate GARCH

w8173 Stephen J. Brown
William N. Goetzmann

Hedge Funds With Style

w8167 Qiang Dai
Kenneth J. Singleton

Expectation Puzzles, Time-varying Risk Premia, and Dynamic Models of the Term Structure

w8098 Ravi Jagannathan
Zhenyu Wang

Empirical Evaluation of Asset Pricing Models: A Comparison of the SDF and Beta Methods

w8066 John H. Cochrane
The Risk and Return of Venture Capital


2000
w7971 Ricardo Caballero
Arvind Krishnamurthy

International and Domestic Collateral Constraints in a Model of Emerging Market Crises

w7878 James J. Choi
David Laibson
Andrew Metrick

Does the Internet Increase Trading? Evidence from Investor Behavior in 401(k) Plans

w7835 Evan Gatev
Stephen A. Ross

Rebels, Conformists, Contrarians and Momentum Traders

w7763 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Emerging Equity Markets and Economic Development

w7683 Francois Degeorge
Dirk Jenter
Alberto Moel
Peter Tufano

Selling Company Shares to Reluctant Employees: France Telecom's Experience

w7488 Torben G. Andersen
Tim Bollerslev
Francis X. Diebold
Paul Labys

Exchange Rate Returns Standardized by Realized Volatility are (Nearly) Gaussian


1999
w7418 Barry Eichengreen
Ricardo Hausmann

Exchange Rates and Financial Fragility

w7237 John Y. Campbell
John H. Cochrane

Explaining the Poor Performance of Consumption-Based Asset Pricing Models

w7214 Dong-Hyun Ahn
Jacob Boudoukh
Matthew Richardson
Robert F. Whitelaw

Behavioralize This! International Evidence on Autocorrelation Patterns of Stock Index and Futures Returns

w7213 Jacob Boudoukh
Matthew Richardson

A Multifactor, Nonlinear, Continuous-Time Model of Interest Rate Volatility

w7170 John H. Cochrane
Portfolio Advice for a Multifactor World

w7169 John H. Cochrane
New Facts in Finance

w7157 Robert J. Hodrick
David Tat-Chee Ng
Paul Sengmueller

An International Dynamic Asset Pricing Model

w7009 Wayne E. Ferson
Campbell R. Harvey

Conditioning Variables and the Cross-Section of Stock Returns


1998
w6843 Ricardo J. Caballero
Arvind Krishnamurthy

Emerging Market Crises: An Asset Markets Perspective

w6611 Fernando Restoy
Philippe Weil

Approximate Equilibrium Asset Prices


1997
w6312 Geert Bekaert
Campbell R. Harvey

Foreign Speculators and Emerging Equity Markets

t0209 Stefano Athanasoulis
Robert J. Shiller

The Significance of the Market Portfolio


1996
w5860 Wayne E. Ferson
Campbell R. Harvey

Fundamental Determinants of National Equity Market Returns: A Perspective on Conditional Asset Pricing


1995
w5307 Geert Bekaert
Campbell R. Harvey

Emerging Equity Market Volatility

w5080 Frederic S. Mishkin
John Simon

An Empirical Examination of the Fisher Effect in Australia


1994
w4843 Geert Bekaert
Campbell R. Harvey

Time-Varying World Market Integration

w4663 Campbell R. Harvey
Roger D. Huang

The Impact of the Federal Reserve Bank's Open Market Operations

w4660 Campbell R. Harvey
Bruno Solnik
Guofu Zhou

What Determines Expected International Asset Returns?

w4623 Campbell R. Harvey
Conditional Asset Allocation in Emerging Markets

w4621 Campbell R. Harvey
Predictable Risk and Returns in Emerging Markets


1992
w4036 Orley Ashenfelter
David Genesove

Testing for Price Anomalies in Real Estate Auctions


1991
w3779 Assaf Razin
Efraim Sadka

International Fiscal Policy Coordination and Competition: An Exposition


Generated Wed Jul 23 00:00:29 2014

 
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