Recent Publications
| Author(s) | Title/Publication | |
| Viral V. Acharya Bart Lambrecht |
“A Theory of Income Smoothing when Insiders Know More than Outsiders," forthcoming, Review of Financial Studies. | |
| Viral V. Acharya Bruce Tuckman |
“Unintended Consequences of Lender of Last Resort Facilities: The Case of Illiquid Leverage," forthcoming, IMF Economic Review. | |
| Viral V. Acharya Stephen Schaefer Yili Zhang |
“Liquidity Risk and Correlation Risk: A Clinical Study of the General Motors and Ford Downgrade of 2005," forthcoming, Quarterly Journal of Finance. | |
| Viral V. Acharya Itamar Drechsler Philipp Schnabl |
“A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk," forthcoming, Journal of Finance. | |
| Viral V. Acharya Nada Mora |
“A Crisis of Banks as Liquidity Providers," forthcoming, Journal of Finance. | |
| Viral V. Acharya Sascha Steffen |
“The Greatest Carry Trade Ever? Understanding Eurozone Bank Risks," Journal of Financial Economics, 2015, 115, 215-236. | |
| Viral V. Acharya Robert Engle Diane Pierret |
“Testing Macro-prudential Stress Tests: The Risk of Regulatory Risk Weights," Journal of Monetary Economics, 2014, 65, 36-53. | |
| Viral V. Acharya Heitor Almeida Filippo Ippolito Ander Perez |
“Credit Lines as Monitored Liquidity Insurance: Theory and Evidence," Journal of Financial Economics, 2014, 112, 287-319. |
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| Viral V. Acharya Ramin Baghai Krishnamurthy Subramanian |
“Wrongful Discharge Laws and Innovation," Review of Financial Studies, 2014, 27, 301-346. | |
| Viral V. Acharya Alberto Bisin |
“Counterparty Risk Externality: Centralized versus Over-the-counter Markets," Journal of Economic Theory, 2014, 149, 153-182. | |
| Edward Altman B. Branch |
“The Bankruptcy System’s Chapter 22 Recidivism Problem: How Serious is it?,” the Financial Review, Vol. 50, No. 1, 2015. | |
| Edward Altman J. Forssbeck (ed.) L. Oxelheim (ed.) |
“Transparent and Unique Sovereign Default Risk Assessment,” Chapter 5 in The Oxford Handbook of Economic and Institutional Transparency, Oxford University Press, 2015. | |
| Edward Altman B. Kuehne |
“Special Commentary: a note on credit market bubbles,” International Journal of Banking & Finance, Vol. 5, No. 4, 2014. | |
| Edward Altman | “Revisiting the Recidivism-Chapter 22 Phenomenon in the U.S. Bankruptcy System,” Brooklyn Journal of Corporate, Financial & Commercial Law, Vol. 8, No. 2, Spring 2014. | |
| Edward Altman E. Kalotay |
“Ultimate Recovery Mixtures,” Journal of Banking & Finance, Vol. 40, No. 1, March 2014. | |
| Edward Altman J. Gonzalez-Heres P. Chen S. Shin |
“The Return/Volatility Tradeoff of Distressed Corporate Debt Portfolios,” The Journal of Portfolio Management, Winter 2014. | |
| Edward Altman | “The Role of Distressed Debt Markets and Trends in Bankrutpcy,” American Bankruptcy Institute Law Review. Vol. 22, No. 1, Winter 2014. | |
| Edward Altman B. Kuehne |
“Defaults and Returns in the High-Yield Bond Market,” Journal of Financial Management and Markets, Vol. 1, No. 2, 2014. | |
| Itamar Drechsler | “Risk Choice Under High-Water Marks”, Review of Financial Studies, 27(7), July 2014, 2052- 2096. | |
| Robert Engle Eric Jondeau Michael Rockinger |
“Systemic Risk in Europe,” forthcoming in Review of Finance, 2014. | |
| Robert Engle Abhishek Mistry |
“Priced Risk and Asymmetric Volatility in the Cross-Section of Skewness,” Journal of Econometrics (September 2014), Volume 182, pages 135-144. | |
| Xavier Gabaix Matteo Maggiori |
“International Liquidity and Exchange Rate Dynamics,” Quarterly Journal of Economics, forthcoming. | |
| Xavier Gabaix | “A Sparsity-Based Model of Bounded Rationality,” Quarterly Journal of Economics, vol. 129(4), 2014, p. 1661–1710. | |
| Xavier Gabaix Augustin Landier Julien Sauvagnat |
“CEO Pay and Firm Size: an Update after the Crisis”, Economic Journal, 2014, vol. 124, p. F40-F59. | |
| Samuel Lee Mike Burkart |
"Signaling to Dispersed Shareholders and Corporate Control," Review of Economic Studies, forthcoming. | |
| Richard Levich Frank Packer |
"Development and Functioning of FX Markets in Asia and the Pacific." in Cross-Border Financial Linkages in Asia and the Pacific, Bank for International Settlements, conference series, 2015 (forthcoming) | |
| Richard Levich Valerio Poti |
“Predictability and 'Good Deals' in Currency Markets,” International Journal of Forecasting, 2015. (forthcoming) | |
| Richard Levich Momtchil Pojarliev |
“Evaluating Absolute Return Managers,” Financial Markets and Portfolio Management, February 2014, Vol. 28, no. 1, pp. 95-103. | |
| Richard Levich (ed.) Momtchil Pojarliev (ed.) |
"The Role of Currency for Institutional Portfolios," Risk Books, London, UK. 2014. | |
| Richard Levich Momtchil Pojarliev |
“Should investors avoid or seek out currency risk? How to resolve a long-standing puzzle,” Journal of Financial Perspectives, 2014 Vol. 2, Issue 3, pp. 59-64. | |
| Richard Levich Momtchil Pojarliev |
“A Case for Currency in Institutional Portfolios,” in M. Pojarliev and R. Levich (eds.), The Role of Currency for Institutional Portfolios, Risk Books, 2014. | |
| Richard Levich Valerio Poti Pierpaolo Pattitoni Paolo Cucurachi |
"Predictability, Trading Rule Profitability and Learning in Currency Markets," International Review of Financial Analysis, May 2014, Vol. 33, pp. 117-29. | |
| Richard Levich | “Counterparty Risk and the Choice of Trading Venues: Currency Futures vs. Forward Markets,” Open Markets, The CME Group, 2014. (forthcoming) | |
| Alexander Ljungqvist Florian Heider |
"As Certain as Debt and Taxes: Estimating the Tax Sensitivity of Leverage from State Tax Changes," Journal of Financial Economics, 2015. (forthcoming) | |
| Alexander Ljungqvist John Asker Joan Farre-Mensa |
"Corporate Investment and Stock Market Listing: A Puzzle?", Review of Financial Studies, 2015 | |
| Alexander Ljungqvist Mary Brooks Billings Karthik Balakrishnan Bryan T. Kelly |
"Shaping Liquidity: On the Causal Effects of Voluntary Disclosure," Journal of Finance, 2014 | |
| Alexander Ljungqvist Yael V. Hochberg Annette Vissing-Jorgensen |
"Informational Holdup and Performance Persistence in Venture Capital," Review of Financial Studies, 2014. | |
| Thomas Michael Mertens Tarek A. Hassan |
"Information Aggregation in a DSGE Model", NBER Annual in Macroeconomics, 2014. | |
| Holger M. Mueller Xavier Giroud |
"Capital and Labor Reallocation within Firms", Journal of Finance (Forthcoming). | |
| Holger M. Mueller Mike Burkart Denis Gromb Fausto Panunzi |
"Legal Investor Protection and Takeovers", Journal of Finance 69, 1129-1165, 2014 . | |
| Thomas Philippon | “Has the U.S. Finance Industry Become Less Efficient?”, American Economic Review, 2014 (Forthcoming). | |
| Anthony Saunders Berg Steffen |
“The Total Cost of Corporate Borrowing: Don’t Forget the Fees”, Journal of Finance (Forthcoming). | |
| Anthony Saunders Li Shao |
“Do Transactional Loans Behave Differently from Relationship Loans”, Journal of Money Credit and Banking (Forthcoming). | |
| Anthony Saunders Massoud Hassan Song |
“Should Short Selling of Stock be Restricted?”, Journal of Banking and Finance (Forthcoming). | |
| Anthony Saunders Li Shao |
“Regulation Fair Disclosure and Credit Markets, Journal of Banking and Finance (Forthcoming). | |
| Anthony Saunders | “Is Basel Turning Banks Into Public Utilities?", Journal of Financial Perspectives (Forthcoming). | |
| Anthony Saunders | “The Regulatory Experience in the US and the Lessons for a European Banking Union", Journal of Financial Perspectives (Forthcoming). | |
| Philipp Schnabl Daniel Paravisini Veronica Rappoport Daniel Wolfenzon |
“Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data”, Review of Economic Studies (Forthcoming). | |
| Johannes Stroebel Pablo Kurlat |
"Testing for Information Asymmetries in Real Estate Markets", Review of Financial Studies (Forthcoming). | |
| Johannes Stroebel | "Asymmetric Information about Collateral Values", Journal of Finance (Forthcoming). | |
| Johannes Stroebel Stefano Giglio Matteo Maggiori |
"Very Long-Run Discount Rates", Quarterly Journal of Economics, 130 (1), February 2015. | |
| Johannes Stroebel Sumit Agarwal Souphala Chomsisengphet Neale Mahoney |
"Regulating Consumer Financial Products: Evidence from Credit Cards", Quarterly Journal of Economics, 130 (1), February 2015. | |
| Johannes Stroebel Sumit Agarwal Souphala Chomsisengphet Neale Mahoney |
"A Simple Framework for Estimating Consumer Benefits from Regulating Hidden Fees", Journal of Legal Studies, 43(S2), June 2014. |
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| Marti G. Subrahmanyam P. Augustin D.Y. Tang S.Q. Wang |
"Credit Default Swaps: A Survey," Foundations and Trends in Finance, December 2014. | |
| Marti G. Subrahmanyam D.Y. Tang S.Q. Wang |
"Does the Tail Wag the Dog? The Effect of Credit Default Swaps on Credit Risk," Review of Financial Studies, October 2014. | |
| Marti G. Subrahmanyam R. Jankowitsch F. Nagler |
"The Determinants of Recovery Rates in the US Corporate Bond Market," Journal of Financial Economics, October 2014. | |
| Rangarajan K. Sundaram | "CDS Auctions and Recovery Rates: An Appraisal", Journal of Derivatives (Forthcoming). | |
| Robert Whitelaw Jacob Boudoukh Matthew Richardson |
"New Evidence on the Forward Premium Puzzle", 2014, Journal of Financial and Quantitative Analysis (Forthcoming). | |
| Robert Whitelaw Turan Bali Nusret Cakici |
"Hybrid Tail Risk and Expected Stock Returns: When Does the Tail Wag the Dog?", 2014, Review of Asset Pricing Studies (Forthcoming). | |
| Robert Whitelaw Salvatore Bruno Ludwig Chincarini |
"An Alternative Method to Construct Levered Indexes", 2014, Journal of Index Investing, Vol. 5, No. 2, pp. 34-47. | |
| Jeffrey Wurgler Malcom Baker |
“Would Stricter Capital Requirements Raise the Cost of Capital? Bank Capital Regulation and the Low Risk Anomaly”, May 2015, American Economic Review Papers & Proceedings (Forthcoming). | |
| David L. Yermack David K.C. Lee ed. |
“Is Bitcoin a Real Currency?”, The Handbook of Digital Currency (Elsevier, 2015). | |
| David L. Yermack Raymond da Silva Rosa Michael Kingsbury |
“Evidence on the Influence Acquired and Premiums Paid by Creeping Blockholders," Sydney Law Review (Forthcoming). | |
| David L. Yermack | “Tailspotting: Identifying and profiting from CEO vacation trips,” Journal of Financial Economics 113, 252-269 (August 2014). | |