NBER Papers in JEL Code G2: Financial Economics - Financial Institutions and Services

2022
w29938 Marco Del Angel
Gary Richardson

Independent Regulators and Financial Stability: Evidence from Gubernatorial Campaigns and a Progressive Era Policy Experiment
w29919 Matthias van den Heuvel
David Popp

The role of Venture Capital and Governments in Clean Energy: Lessons from the First Cleantech Bubble
w29908 Kilian Huber
Estimating General Equilibrium Spillovers of Large-Scale Shocks
w29907 Paul A. Gompers
Vladimir Mukharlyamov

Transferable Skills? Founders as Venture Capitalists
w29904 Viral V. Acharya
Matteo Crosignani
Tim Eisert
Sascha Steffen

Zombie Lending: Theoretical, International and Historical Perspectives
w29901 Cecilia Parlatore
Thomas Philippon

Designing Stress Scenarios
w29899 Zhiguo He
Zhaogang Song

Agency MBS as Safe Assets
w29888 Falk Bräuning
Victoria Ivashina
Ali Ozdagli

High-Yield Debt Covenants and Their Real Effects
w29887 Juliane Begenau
Emil Siriwardane

How do Private Equity Fees vary across Public Pensions?
w29882 Joshua Aizenman
Yothin Jinjarak
Mark M. Spiegel

Fiscal Stimulus and Commercial Bank Lending Under COVID-19
w29881 Jonathan A. Parker
Antoinette Schoar
Allison T. Cole
Duncan Simester

Household Portfolios and Retirement Saving over the Life Cycle
w29859 Thomas Schneider
Philip Strahan
Jun Yang

Syndicated Lending, Competition and Relative Performance Evaluation
w29850 Nikolaos Artavanis
Brian Jonghwan Lee
Stavros Panageas
Margarita Tsoutsoura

Cross-subsidization of Bad Credit in a Lending Crisis
w29847 Shai Bernstein
Kunal Mehta
Richard R. Townsend
Ting Xu

Do Startups Benefit from Their Investors' Reputation? Evidence from a Randomized Field Experiment
w29840 Marco Di Maggio
Dimuthu Ratnadiwakara
Don Carmichael

Invisible Primes: Fintech Lending with Alternative Data
w29813 Jing Cai
Adam Szeidl

Indirect Effects of Access to Finance
w29807 Levent Altinoglu
Joseph E. Stiglitz

Collective Moral Hazard and the Interbank Market
w29790 Huaizhi Chen
Lauren Cohen
Weiling Liu

Calling All Issuers: The Market for Debt Monitoring
w29777 Viral V. Acharya
Ryan Banerjee
Matteo Crosignani
Tim Eisert
Renée Spigt

Exorbitant Privilege? Quantitative Easing and the Bond Market Subsidy of Prospective Fallen Angels
w29770 Deepak Hegde
Kyle F. Herkenhoff
Chenqi Zhu

Patent Publication and Innovation
w29753 Kristian Blickle
Markus K. Brunnermeier
Stephan Luck

Who Can Tell Which Banks Will Fail?
w29748 Sergey Chernenko
David S. Scharfstein

Racial Disparities in the Paycheck Protection Program
w29743 Michael Ewens
Arpit Gupta
Sabrina T. Howell

Local Journalism under Private Equity Ownership
w29731 Zhiguo He
Bibo Liu
Feifei Zhu

Share Pledging in China: Funding Listed Firms or Funding Entrepreneurship?
w29723 Ron Kaniel
Zihan Lin
Markus Pelger
Stijn Van Nieuwerburgh

Machine-Learning the Skill of Mutual Fund Managers
w29710 Gary B. Gorton
Chase P. Ross
Sharon Y. Ross

Making Money
w29689 Katja Hanewald
Hazel Bateman
Hanming Fang
Tin Long Ho

Long-Term Care Insurance Financing Using Home Equity Release: Evidence from an Online Experimental Survey
w29679 Ralph S. J. Koijen
Motohiro Yogo

Understanding the Ownership Structure of Corporate Bonds
w29670 Anusha Chari
Karlye Dilts Stedman
Kristin Forbes

Spillovers at the Extremes: The Macroprudential Stance and Vulnerability to the Global Financial Cycle
w29638 Pablo Ottonello
Wenting Song

Financial Intermediaries and the Macroeconomy: Evidence from a High-Frequency Identification
w29632 Zhiguo He
Jian Li

Intermediation via Credit Chains
2021
w29624 Lauren Cohen
Bo Li

The Political Economy of Anti-Bribery Enforcement
w29614 Urban Jermann
Interest Received by Banks during the Financial Crisis: LIBOR vs Hypothetical SOFR Loans
w29606 Viral V. Acharya
Simone Lenzu
Olivier Wang

Zombie Lending and Policy Traps
w29560 Thomas Philippon
Olivier Wang

Let the Worst One Fail: A Credible Solution to the Too-Big-To-Fail Conundrum
w29532 Michael Ewens
Joan Farre-Mensa

Private or Public Equity? The Evolving Entrepreneurial Finance Landscape
w29527 Benjamin L. Collier
Cameron Ellis
Benjamin J. Keys

The Cost of Consumer Collateral: Evidence from Bunching
w29515 Hanna Halaburda
Zhiguo He
Jiasun Li

An Economic Model of Consensus on Distributed Ledgers
w29513 Jennie Bai
Massimo Massa

Is Human-Interaction-based Information Substitutable? Evidence from Lockdown
w29511 Ali Hortaçsu
Isabelle Perrigne

Empirical Perspectives on Auctions
w29502 Tim Jenkinson
Hyeik Kim
Michael S. Weisbach

Buyouts: A Primer
w29494 Yanyou Chen
James W. Roberts
Christopher D. Timmins
Ashley Vissing

Collateral Damage: The Impact of Shale Gas on Mortgage Lending
w29467 Maryam Farboodi
Intermediation and Voluntary Exposure to Counterparty Risk
w29457 Javier Bianchi
Saki Bigio
Charles Engel

Scrambling for Dollars: International Liquidity, Banks and Exchange Rates
w29448 Greg Buchak
Jiayin Hu
Shang-Jin Wei

FinTech as a Financial Liberator
w29427 Natalia Rigol
Benjamin N. Roth

Loan Officers Impede Graduation from Microfinance: Strategic Disclosure in a Large Microfinance Institution
w29421 Tobias Berg
Andreas Fuster
Manju Puri

FinTech Lending
w29414 Simcha Barkai
Stavros Panageas

Value without Employment
w29410 Larry Cordell
Michael R. Roberts
Michael Schwert

CLO Performance
w29397 Manuel Amador
Javier Bianchi

Bank Runs, Fragility, and Credit Easing
w29386 Gabriel Garber
Atif R. Mian
Jacopo Ponticelli
Amir Sufi

Household Credit as Stimulus? Evidence from Brazil
w29365 Kun Li
Xin (Kelly) Liu
Shang-Jin Wei

Is Stock Index Membership for Sale?
w29364 Sabrina T. Howell
Theresa Kuchler
David Snitkof
Johannes Stroebel
Jun Wong

Automation in Small Business Lending Can Reduce Racial Disparities: Evidence from the Paycheck Protection Program
w29346 Katharina Bergant
Kristin Forbes

Macroprudential Policy during COVID-19: The Role of Policy Space
w29284 Bernadette A. Minton
Alvaro G. Taboada
Rohan Williamson

Bank Mergers, Acquirer Choice and Small Business Lending: Implications for Community Investment
w29281 Andrew Metrick
Paul Schmelzing

Banking-Crisis Interventions, 1257-2019
w29280 Elisabeth Kempf
Mancy Luo
Larissa Schäfer
Margarita Tsoutsoura

Does Political Partisanship Cross Borders? Evidence from International Capital Flows
w29270 Anthony A. DeFusco
Huan Tang
Constantine Yannelis

Measuring the Welfare Cost of Asymmetric Information in Consumer Credit Markets
w29268 Kei Kawai
Ken Onishi
Kosuke Uetake

Signaling in Online Credit Markets
w29244 Price V. Fishback
Jonathan Rose
Kenneth A. Snowden
Thomas Storrs

New Evidence on Redlining by Federal Housing Programs in the 1930s
w29223 Jeremy I. Bulow
Paul D. Klemperer

Misdiagnosing Bank Capital Problems
w29211 Jun Chen
Michael Ewens

Venture Capitalists' Access to Finance and Its Impact on Startups
w29207 Erasmo Giambona
Anil Kumar
Gordon M. Phillips

Hedging and Competition
w29205 Itzhak Ben-David
Mark J. Johnson
René M. Stulz

Why Did Small Business Fintech Lending Dry Up During March 2020?
w29183 Robert Clark
Jean-François Houde
Jakub Kastl

The Industrial Organization of Financial Markets
w29178 Benjamin R. Handel
Jonathan T. Kolstad

The Affordable Care Act After a Decade: Industrial Organization of the Insurance Exchanges
w29169 Constantine Yannelis
Anthony Lee Zhang

Competition and Selection in Credit Markets
w29160 Eduardo Dávila
Ansgar Walther

Corrective Regulation with Imperfect Instruments
w29144 Howard Kunreuther
Lynn Conell-Price
Paul Kovacs
Katsuichiro Goda

The Impact of a Government Risk Pool and an Opt-Out Framing on Demand for Earthquake Protection
w29143 Michael Ewens
Kairong Xiao
Ting Xu

Regulatory Costs of Being Public: Evidence from Bunching Estimation
w29142 David Hao Zhang
Paul S. Willen

Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus
w29129 Vadim Elenev
Tim Landvoigt
Patrick J. Shultz
Stijn Van Nieuwerburgh

Can Monetary Policy Create Fiscal Capacity?
w29106 René M. Stulz
James G. Tompkins
Rohan Williamson
Zhongxia (Shelly) Ye

Why do Bank Boards have Risk Committees?
w29097 Evan Saltzman
Ashley Swanson
Daniel Polsky

Inertia, Market Power, and Adverse Selection in Health Insurance: Evidence from the ACA Exchanges
w29090 Adam Copeland
Darrell Duffie
Yilin Yang

Reserves Were Not So Ample After All
w29086 Susanna B. Berkouwer
Pierre E. Biscaye
Eric Hsu
Oliver W. Kim
Kenneth Lee
Edward Miguel
Catherine Wolfram

Money or Power? Financial Infrastructure and Optimal Policy
w29082 Clemens Sialm
Qifei Zhu

Currency Management by International Fixed Income Mutual Funds
w29069 Michael J. Gropper
Camelia M. Kuhnen

Wealth and Insurance Choices: Evidence from US Households
w29048 Allen Hu
Song Ma

Persuading Investors: A Video-Based Study
w29039 Liran Einav
Amy Finkelstein
Neale Mahoney

The IO of Selection Markets
w29035 Asli M. Colpan
Randall Morck

Business Groups: Panics, Runs, Organ Banks and Zombie Firms
w29030 Ralph S. J. Koijen
Motohiro Yogo

The Evolution from Life Insurance to Financial Engineering
w29006 Orkun Saka
Barry Eichengreen
Cevat Giray Aksoy

Epidemic Exposure, Fintech Adoption, and the Digital Divide
w28980 Josh Lerner
Amit Seru
Nick Short
Yuan Sun

Financial Innovation in the 21st Century: Evidence from U.S. Patents
w28968 Howard Kunreuther
Jason Schupp

Evaluating the Role of Insurance in Managing Risk of Future Pandemics
w28900 Jacelly C. Cespedes
Carlos R. Parra
Clemens Sialm

The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown
w28879 Eduardo Dávila
Ansgar Walther

Prudential Policy with Distorted Beliefs
w28868 Bo Becker
Efraim Benmelech

The Resilience of the U.S. Corporate Bond Market During Financial Crises
w28851 Weiran Huang
Ashlyn Nelson
Stephen Ross

Foreclosure Spillovers within broad Neighborhoods
w28843 Andreas Fuster
Aurel Hizmo
Lauren Lambie-Hanson
James Vickery
Paul S. Willen

How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic
w28842 Briana Chang
Matthieu Gomez
Harrison Hong

Sorting Out the Real Effects of Credit Supply
w28806 Lars E.O. Svensson
Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in the UK
w28796 Stephen L. Ross
Tingyu Zhou

Loss Aversion in Housing Sales Prices: Evidence from Focal Point Bias
w28794 Ross Levine
Chen Lin
Chicheng Ma
Yuchen Xu

The Legal Origins of Financial Development: Evidence from the Shanghai Concessions
w28781 Stephen L. Ross
Yuan Wang

Mortgage Lenders and the Geographic Concentration of Foreclosures
w28779 Victoria R. Marone
Adrienne Sabety

Should There Be Vertical Choice in Health Insurance Markets?
w28778 Sinan Gokkaya
Xi Liu
René M. Stulz

Do Firms with Specialized M&A Staff Make Better Acquisitions?
w28776 Lars E.O. Svensson
Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in Australia
w28773 Natee Amornsiripanitch
Paul A. Gompers
George Hu
Kaushik Vasudevan

Getting Schooled: The Role of Universities in Attracting Immigrant Entrepreneurs
w28767 Kilian Huber
Are Bigger Banks Better? Firm-Level Evidence from Germany
w28765 Jialan Wang
Kathleen Burke

The Effects of Disclosure and Enforcement on Payday Lending in Texas
w28764 Ana Babus
Kinda Cheryl Hachem

Regulation and Security Design in Concentrated Markets
w28751 Emily Johnston-Ross
Song Ma
Manju Puri

Private Equity and Financial Stability: Evidence from Failed Bank Resolution in the Crisis
w28744 Jessica Bai
Shai Bernstein
Abhishek Dev
Josh Lerner

The Dance Between Government and Private Investors: Public Entrepreneurial Finance around the Globe
w28724 Paul Gertler
Brett Green
Catherine Wolfram

Digital Collateral
w28709 Cyrus Aghamolla
Pinar Karaca-Mandic
Xuelin Li
Richard T. Thakor

Merchants of Death: The Effect of Credit Supply Shocks on Hospital Outcomes
w28697 Gikas Hardouvelis
Georgios Karalas
Dimitri Vayanos

The Distribution of Investor Beliefs, Stock Ownership and Stock Returns
w28691 Brian Boyer
Taylor D. Nadauld
Keith P. Vorkink
Michael S. Weisbach

Discount Rate Risk in Private Equity: Evidence from Secondary Market Transactions
w28685 Cecilia R. Caglio
R. Matthew Darst
Ṣebnem Kalemli-Özcan

Risk-Taking and Monetary Policy Transmission: Evidence from Loans to SMEs and Large Firms
w28676 Eduardo Dávila
Itay Goldstein

Optimal Deposit Insurance
w28658 Alyssa G. Anderson
Wenxin Du
Bernd Schlusche

Arbitrage Capital of Global Banks
w28624 Itzhak Ben-David
Jiacui Li
Andrea Rossi
Yang Song

Discontinued Positive Feedback Trading and the Decline of Momentum Profitability
w28609 Dhruv Aggarwal
Ofer Eldar
Yael Hochberg
Lubomir P. Litov

The Rise of Dual-Class Stock IPOs
w28574 Asaf Bernstein
Peter Koudijs

The Mortgage Piggy Bank: Building Wealth through Amortization
w28559 Viral V. Acharya
Robert F. Engle III
Sascha Steffen

Why Did Bank Stocks Crash During COVID-19?
w28557 James M. Poterba
Adam Solomon

Discount Rates, Mortality Projections, and Money's Worth Calculations for US Individual Annuities
w28501 Juliane Begenau
Tim Landvoigt

Financial Regulation in a Quantitative Model of the Modern Banking System
w28437 Michael D. Bordo
John V. Duca

How the New Fed Municipal Bond Facility Capped Muni-Treasury Yield Spreads in the Covid-19 Recession
w28435 Anusha Chari
Lakshita Jain
Nirupama Kulkarni

The Unholy Trinity: Regulatory Forbearance, Stressed Banks and Zombie Firms
w28430 Long Hong
Corina Mommaerts

Time Aggregation in Health Insurance Deductibles
w28377 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Liquidity, Pledgeability, and the Nature of Lending
w28357 Susan F. Cherry
Erica Xuewei Jiang
Gregor Matvos
Tomasz Piskorski
Amit Seru

Government and Private Household Debt Relief during COVID-19
w28341 Robert C. Merton
Richard T. Thakor

No-fault Default, Chapter 11 Bankruptcy, and Financial Institutions
2020
w28298 Patrick Bolton
Ye Li
Neng Wang
Jinqiang Yang

Dynamic Banking and the Value of Deposits
w28286 Lei Li
Philip Strahan

Who Supplies PPP Loans (And Does it Matter)? Banks, Relationships and the COVID Crisis
w28262 Seth Garz
Xavier Giné
Dean Karlan
Rafe Mazer
Caitlin Sanford
Jonathan Zinman

Consumer Protection for Financial Inclusion in Low and Middle Income Countries: Bridging Regulator and Academic Perspectives
w28253 Hao Jiang
Dimitri Vayanos
Lu Zheng

Tracking Biased Weights: Asset Pricing Implications of Value-Weighted Indexing
w28252 Greg Buchak
Gregor Matvos
Tomasz Piskorski
Amit Seru

Why is Intermediating Houses so Difficult? Evidence from iBuyers
w28249 Emily Breza
Martin Kanz
Leora F. Klapper

Learning to Navigate a New Financial Technology: Evidence from Payroll Accounts
w28242 Marco Di Maggio
Angela T. Ma
Emily Williams

In the Red: Overdrafts, Payday Lending and the Underbanked
w28237 Linda Schilling
Jesús Fernández-Villaverde
Harald Uhlig

Central Bank Digital Currency: When Price and Bank Stability Collide
w28198 G. William Schwert
The Remarkable Growth in Financial Economics, 1974-2020
w28124 Laurence M. Ball
Liquidity Risk at Large U.S. Banks
w28118 Zhiguo He
Jing Huang
Jidong Zhou

Open Banking: Credit Market Competition When Borrowers Own the Data
w28109 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan
Ruediger Stucke

Has Persistence Persisted in Private Equity? Evidence from Buyout and Venture Capital Funds
w28107 Ginger Zhe Jin
Hsienming Lien
Xuezhen Tao

Top-up Design and Health Care Expenditure: Evidence from Cardiac Stents
w28103 Itzhak Ben-David
Jiacui Li
Andrea Rossi
Yang Song

Ratings-Driven Demand and Systematic Price Fluctuations
w28088 Yueran Ma
José A. Scheinkman

Going-Concern Debt of Financial Intermediaries
w28039 Gene Amromin
Neil Bhutta
Benjamin J. Keys

Refinancing, Monetary Policy, and the Credit Cycle
w28038 Justin Birru
Sinan Gokkaya
Xi Liu
René M. Stulz

Who Benefits from Analyst "Top Picks"?
w28028 Jonathan A. Parker
Antoinette Schoar
Yang Sun

Retail Financial Innovation and Stock Market Dynamics: The Case of Target Date Funds
w28021 Marco Di Maggio
Vincent Yao

Fintech Borrowers: Lax-Screening or Cream-Skimming?
w28020 Anil K Kashyap
Natalia Kovrijnykh
Jian Li
Anna Pavlova

Is There Too Much Benchmarking in Asset Management?
w28016 Nathan Foley-Fisher
Gary B. Gorton
Stéphane Verani

Adverse Selection Dynamics in Privately-Produced Safe Debt Markets
w28003 Anya Samek
Justin R. Sydnor

Impact of Consequence Information on Insurance Choice
w27994 Sigurd Galaasen
Rustam Jamilov
Ragnar Juelsrud
Hélène Rey

Granular Credit Risk
w27992 Joseph E. Stiglitz
The Pandemic Economic Crisis, Precautionary Behavior, and Mobility Constraints: An Application of the Dynamic Disequilibrium Model with Randomness
w27964 Ross Levine
Chen Lin
Mingzhu Tai
Wensi Xie

How Did Depositors Respond to COVID-19?
w27959 Itamar Drechsler
Alan Moreira
Alexi Savov

Liquidity and Volatility
w27953 Benjamin M. Hébert
Externalities as Arbitrage
w27945 Gabriel Chodorow-Reich
Olivier Darmouni
Stephan Luck
Matthew C. Plosser

Bank Liquidity Provision Across the Firm Size Distribution
w27942 Frederik P. Schlingemann
René M. Stulz

Have Exchange-Listed Firms Become Less Important for the Economy?
w27935 Juliane Begenau
Saki Bigio
Jeremy Majerovitz
Matias Vieyra

A Q-Theory of Banks
w27930 Benjamin J. Keys
Philip Mulder

Neglected No More: Housing Markets, Mortgage Lending, and Sea Level Rise
w27889 Paul A. Gompers
Steven N. Kaplan
Vladimir Mukharlyamov

Private Equity and COVID-19
w27883 Vincent Glode
Christian Opp

Renegotiation in Debt Chains
w27858 Milton Harris
Christian Opp
Marcus Opp

The Aggregate Demand for Bank Capital
w27851 Tania Babina
Asaf Bernstein
Filippo Mezzanotti

Crisis Innovation
w27849 Brian Fabo
Martina Jančoková
Elisabeth Kempf
Ľuboš Pástor

Fifty Shades of QE: Comparing Findings of Central Bankers and Academics
w27828 Ufuk Akcigit
Sina T. Ates
Josh Lerner
Richard R. Townsend
Yulia Zhestkova

Fencing Off Silicon Valley: Cross-Border Venture Capital and Technology Spillovers
w27824 Paul Gompers
Will Gornall
Steven N. Kaplan
Ilya A. Strebulaev

Venture Capitalists and COVID-19
w27815 Qi Chen
Itay Goldstein
Zeqiong Huang
Rahul Vashishtha

Liquidity Transformation and Fragility in the US Banking Sector
w27809 Simon Gilchrist
Bin Wei
Vivian Z. Yue
Egon Zakrajšek

The Fed Takes on Corporate Credit Risk: An Analysis of the Efficacy of the SMCCF
w27784 Josue Cox
Daniel L. Greenwald
Sydney C. Ludvigson

What Explains the COVID-19 Stock Market?
w27772 Fernando Broner
Alberto Martin
Lorenzo Pandolfi
Tomas Williams

Winners and Losers from Sovereign Debt Inflows
w27769 Michael Ewens
Nadya Malenko

Board Dynamics over the Startup Life Cycle
w27751 Matthew R. Denes
Sabrina T. Howell
Filippo Mezzanotti
Xinxin Wang
Ting Xu

Investor Tax Credits and Entrepreneurship: Evidence from U.S. States
w27745 Erol Akcay
David Hirshleifer

Social Finance: Cultural Evolution, Transmission Bias and Market Dynamics
w27733 Qian Chen
Christoffer Koch
Padma Sharma
Gary Richardson

Payments Crises and Consequences
w27732 Saki Bigio
Liyan Shi

Repurchase Options in the Market for Lemons
w27721 Haelim Anderson
Selman Erol
Guillermo Ordoñez

Interbank Networks in the Shadows of the Federal Reserve Act
w27701 Joao A. C. Santos
S. Vish Viswanathan

Bank Syndicates and Liquidity Provision
w27698 Kristin J. Forbes
The International Aspects of Macroprudential Policy
w27695 Naoki Aizawa
You Suk Kim

Public and Private Provision of Information in Market-Based Public Programs: Evidence from Advertising in Health Insurance Marketplaces
w27676 John Y. Campbell
Nuno Clara
João F. Cocco

Structuring Mortgages for Macroeconomic Stability
w27659 Isil Erel
Jack Liebersohn

Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program
w27648 Irem Demirci
Miguel A. Ferreira
Pedro Matos
Clemens Sialm

How Global is Your Mutual Fund? International Diversification from Multinationals
w27623 Alexander W. Bartik
Zoe B. Cullen
Edward L. Glaeser
Michael Luca
Christopher T. Stanton
Adi Sunderam

The Targeting and Impact of Paycheck Protection Program Loans to Small Businesses
w27610 Michael J. Fishman
Jonathan A. Parker
Ludwig Straub

A Dynamic Theory of Lending Standards
w27593 Benjamin Bennett
René M. Stulz
Zexi Wang

Does Joining the S&P 500 Index Hurt Firms?
w27591 Jesse Davis
Adair Morse
Xinxin Wang

The Leveraging of Silicon Valley
w27585 Peter Ganong
Pascal J. Noel

Why Do Borrowers Default on Mortgages? A New Method For Causal Attribution
w27577 Mark L. Egan
Shan Ge
Johnny Tang

Conflicting Interests and the Effect of Fiduciary Duty -- Evidence from Variable Annuities
w27573 Mathias Kronlund
Veronika K. Pool
Clemens Sialm
Irina Stefanescu

Out of Sight No More? The Effect of Fee Disclosures on 401(k) Investment Allocations
w27564 Quentin Stoeffler
Michael Carter
Catherine Guirkinger
Wouter Gelade

The Spillover Impact of Index Insurance on Agricultural Investment by Cotton Farmers in Burkina Faso
w27559 Antonio Falato
Itay Goldstein
Ali Hortaçsu

Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets
w27551 Lubos Pastor
M. Blair Vorsatz

Mutual Fund Performance and Flows During the COVID-19 Crisis
w27547 Ricardo Correa
Linda S. Goldberg

Bank Complexity, Governance, and Risk
w27537 Viral V. Acharya
Lea Borchert
Maximilian Jager
Sascha Steffen

Kicking the Can Down the Road: Government Interventions in the European Banking Sector
w27499 Manuel Adelino
William B. McCartney
Antoinette Schoar

The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market
w27492 Josh Lerner
Ramana Nanda

Venture Capital's Role in Financing Innovation: What We Know and How Much We Still Need to Learn
w27491 Ricardo Correa
Wenxin Du
Gordon Y. Liao

U.S. Banks and Global Liquidity
w27490 Toren L. Fronsdal
Jay Bhattacharya
Suzanne Tamang

Variation in Health Care Prices Across Public and Private Payers
w27471 Ana Babus
Maryam Farboodi

The Hidden Costs of Strategic Opacity
w27461 Efraim Benmelech
Nitzan Tzur-Ilan

The Determinants of Fiscal and Monetary Policies During the Covid-19 Crisis
w27454 Itzhak Ben-David
Justin Birru
Andrea Rossi

The Performance of Hedge Fund Performance Fees
w27442 Martin Goetz
Luc Laeven
Ross Levine

Do Bank Insiders Impede Equity Issuances?
w27438 David Blanchett
Michael S. Finke
Jonathan Reuter

Portfolio Delegation and 401(k) Plan Participant Responses to COVID-19
w27435 Cesare Fracassi
Alessandro Previtero
Albert W. Sheen

Barbarians at the Store? Private Equity, Products, and Consumers
w27416 Zhiguo He
Stefan Nagel
Zhaogang Song

Treasury Inconvenience Yields during the COVID-19 Crisis
w27376 Itay Goldstein
Alexandr Kopytov
Lin Shen
Haotian Xiang

Bank Heterogeneity and Financial Stability
w27355 Mahyar Kargar
Benjamin Lester
David Lindsay
Shuo Liu
Pierre-Olivier Weill
Diego Zúñiga

Corporate Bond Liquidity During the COVID-19 Crisis
w27341 Sumit Agarwal
John Grigsby
Ali Hortaçsu
Gregor Matvos
Amit Seru
Vincent Yao

Searching for Approval
w27316 Victoria Ivashina
Boris Vallee

Weak Credit Covenants
w27299 Theresa Kuchler
Yan Li
Lin Peng
Johannes Stroebel
Dexin Zhou

Social Proximity to Capital: Implications for Investors and Firms
w27296 Michael Ewens
Ramana Nanda
Christopher T. Stanton

The Evolution of CEO Compensation in Venture Capital Backed Startups
w27292 Viral V. Acharya
Katharina Bergant
Matteo Crosignani
Tim Eisert
Fergal J. McCann

The Anatomy of the Transmission of Macroprudential Policies
w27261 Olivia S. Mitchell
Building Better Retirement Systems in the Wake of the Global Pandemic
w27258 Yifei Wang
Toni M. Whited
Yufeng Wu
Kairong Xiao

Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation
w27256 Lei Li
Philip E. Strahan
Song Zhang

Banks as Lenders of First Resort: Evidence from the COVID-19 Crisis
w27251 Joshua D. Rauh
Irina Stefanescu
Stephen P. Zeldes

Cost Saving and the Freezing of Corporate Pension Plans
w27225 Bruce I. Carlin
Tarik Umar
Hanyi Yi

Deputization
w27221 Viral V. Acharya
Raghuram Rajan
Jack Shim

When is Debt Odious? A Theory of Repression and Growth Traps
w27214 Kaiji Chen
Patrick C. Higgins
Tao Zha

Cyclical Lending Standards: A Structural Analysis
w27195 Michael R. Roberts
Michael Schwert

Interest Rates and the Design of Financial Contracts
w27189 Nicola Gennaioli
Rafael La Porta
Florencio Lopez-de-Silanes
Andrei Shleifer

Trust and Insurance Contracts
w27171 Markus K. Brunnermeier
Michael Sockin
Wei Xiong

China's Model of Managing the Financial System
w27168 Valentin Haddad
Alan Moreira
Tyler Muir

When Selling Becomes Viral: Disruptions in Debt Markets in the COVID-19 Crisis and the Fed's Response
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Matteo Crosignani
Tim Eisert
Christian Eufinger

Zombie Credit and (Dis-)Inflation: Evidence from Europe
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Josh Lerner
Ramana Nanda
Richard R. Townsend

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Ganesh Viswanath-Natraj

What Keeps Stablecoins Stable?
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Christos Makridis
Constantine Yannelis
Eric Zwick

Did the Paycheck Protection Program Hit the Target?
w27092 Sergey Chernenko
Adi Sunderam

Measuring the Perceived Liquidity of the Corporate Bond Market
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Felix C. Corell
Joseph E. Stiglitz

Optimal Bailouts and the Doom Loop with a Financial Network
w27066 Harrison Hong
Neng Wang
Jinqiang Yang

Mitigating Disaster Risks in the Age of Climate Change
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Luc Laeven
Enrique Moral-Benito

Loan Types and the Bank Lending Channel
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Mark Pauly

Do People Have a Bias for Low-Deductible Insurance?
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Emil Verner
Wei Xiong

Banking Crises without Panics
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Gregor Matvos
Tomasz Piskorski
Amit Seru

Banking without Deposits: Evidence from Shadow Bank Call Reports
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Philip E. Strahan
Jun Yang

Bank Stress Testing: Public Interest or Regulatory Capture?
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Government Incentives for Entrepreneurship
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Hanming Fang
Martin Karlsson
Nicolas R. Ziebarth

Long-Term Health Insurance: Theory Meets Evidence
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Gary Richardson

Contagion of Fear
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Pablo D'Erasmo

Rising Bank Concentration
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Daniel Marcel te Kaat
Chang Ma
Alessandro Rebucci

Capital Flows, Real Estate, and Local Cycles: Evidence from German Cities, Banks, and Firms
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Thomas Rauter
Christoph K. Scheuch
Michael Weber

Perceived Precautionary Savings Motives: Evidence from FinTech
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Wei Xiong
Jinfan Zhang

Issuance Overpricing of China's Corporate Debt Securities
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Roberto Rigobon
Munther A. Dahleh

Contingent Linear Financial Networks
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Nitish Kumar
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The Secured Credit Premium and the Issuance of Secured Debt
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Tobias J. Moskowitz
Kaushik Vasudevan

Beyond Basis Basics: Liquidity Demand and Deviations from the Law of One Price
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Robert S. Harris
Wendy Hu
Tim Jenkinson
Steven N. Kaplan
David T. Robinson

Can Investors Time Their Exposure to Private Equity?
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Daniel Sanches
Linda Schilling
Harald Uhlig

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Karen Pence

Technological Innovation and Discrimination in Household Finance
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Gary Richardson
Patrick Van Horn

Countercyclical Capital Buffers: A Cautionary Tale
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Kevin Zhao

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Kenta Yamada
Misako Takayasu
Hideki Takayasu

Execution Risk and Arbitrage Opportunities in the Foreign Exchange Markets
w26700 Mattia Landoni
Stephen P. Zeldes

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Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Optimal Bank Regulation In the Presence of Credit and Run-Risk
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Ross Levine
Chen Lin
Mingzhu Tai

Finance and Children's Academic Performance
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Private Money Production without Banks
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Taylor D. Nadauld
Christopher Palmer

Real Effects of Search Frictions in Consumer Credit Markets
w26626 Jun Kyung Auh
Jennie Bai

Cross-Asset Information Synergy in Mutual Fund Families
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Gajendran Raveendranathan

Who Bears the Welfare Costs of Monopoly? The Case of the Credit Card Industry
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w26582 Brad M. Barber
Adair Morse
Ayako Yasuda

Impact Investing
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Xiaomeng Lu
Jun Pan

FinTech Platforms and Mutual Fund Distribution
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Hyungsik Roger Moon
Frank Schorfheide

Forecasting with a Panel Tobit Model
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Nirupama Kulkarni

Government Guarantees and Bank Vulnerability during a Crisis: Evidence from an Emerging Market
w26561 Saki Bigio
Adrien d'Avernas

Financial Risk Capacity
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Scott Hirst

Index Funds and the Future of Corporate Governance: Theory, Evidence, and Policy
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Jorge Guzman
Scott Stern

Hidden in Plain Sight: Venture Growth with or without Venture Capital
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Zhuo Chen
Zhiguo He
Jinyu Liu
Rengming Xie

Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets
w26514 Arpit Gupta
Stijn Van Nieuwerburgh

Valuing Private Equity Strip by Strip
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Marc A. Ragin
Justin R. Sydnor

Predicting Insurance Demand from Risk Attitudes
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Ryosuke Fujitani
Yukihiro Yasuda

Does Stock Market Listing Impact Investment in Japan?
w26494 Zhiguo He
Paymon Khorrami
Zhaogang Song

Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress
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Filippo Mezzanotti

Financing Entrepreneurship through the Tax Code: Angel Investor Tax Credits
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Björn Imbierowicz
Sascha Steffen
Daniel Teichmann

Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?
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Guillaume Plantin

Monetary Easing, Leveraged Payouts and Lack of Investment
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Kenneth S. Rogoff

Redeemable Platform Currencies
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Isil Erel
Robert Prilmeier

Why Do Firms Borrow Directly from Nonbanks?
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Ramana Nanda

Networking Frictions in Venture Capital, and the Gender Gap in Entrepreneurship
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Raimond Maurer
Olivia S. Mitchell

How Would 401(k) 'Rothification' Alter Saving, Retirement Security, and Inequality?
w26435 Josh Davis
Alan M. Taylor

The Leverage Factor: Credit Cycles and Asset Returns
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Finn E. Kydland
Roman Šustek

MoNK: Mortgages in a New-Keynesian Model
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Lauren Cohen
Umit Gurun

Don't Take Their Word For It: The Misclassification of Bond Mutual Funds
w26392 Stephen G. Dimmock
Jiekun Huang
Scott J. Weisbenner

Give Me Your Tired, Your Poor, Your High-Skilled Labor: H-1B Lottery Outcomes and Entrepreneurial Success
w26382 Youssef Benzarti
Playing Hide and Seek: How Lenders Respond to Borrower Protection
w26371 Steven J. Davis
John C. Haltiwanger
Kyle Handley
Ben Lipsius
Josh Lerner
Javier Miranda

The (Heterogenous) Economic Effects of Private Equity Buyouts
w26369 Valentin Haddad
David A. Sraer

The Banking View of Bond Risk Premia
w26350 Hanming Fang
Andrew J. Shephard

Household Labor Search, Spousal Insurance, and Health Care Reform
w26341 Ravi Jagannathan
On Frequent Batch Auctions for Stocks
w26337 Guillermo Ordoñez
Facundo Piguillem

Retirement in the Shadow (Banking)
w26330 Thomas Philippon
On Fintech and Financial Inclusion
w26328 Leandro Carvalho
Arna Olafsson
Dan Silverman

Misfortune and Mistake: The Financial Conditions and Decision-making Ability of High-cost Loan Borrowers
w26322 Amine Ouazad
Matthew E. Kahn

Mortgage Finance and Climate Change: Securitization Dynamics in the Aftermath of Natural Disasters
w26317 Michael Ewens
Joan Farre-Mensa

The Deregulation of the Private Equity Markets and the Decline in IPOs
w26312 René M. Stulz
FinTech, BigTech, and the Future of Banks
w26300 Markus K. Brunnermeier
Harold James
Jean-Pierre Landau

The Digitalization of Money
w26298 Jason R. Donaldson
Giorgia Piacentino

Money Runs
w26288 Michael Geruso
Timothy J. Layton
Grace McCormack
Mark Shepard

The Two Margin Problem in Insurance Markets
w26285 Gastón Illanes
Manisha Padi

Retirement Policy and Annuity Market Equilibria: Evidence from Chile
w26275 Thomas Hellmann
Ilona Mostipan
Nir Vulkan

Be Careful What You Ask For: Fundraising Strategies in Equity Crowdfunding
w26274 Qianqian Du
Thomas F. Hellmann

Getting Tired of Your Friends: The Dynamics of Venture Capital Relationships
w26254 Tal Gross
Raymond Kluender
Feng Liu
Matthew J. Notowidigdo
Jialan Wang

The Economic Consequences of Bankruptcy Reform
w26196 Ufuk Akcigit
Emin Dinlersoz
Jeremy Greenwood
Veronika Penciakova

Synergizing Ventures
w26183 Stefan Gissler
Rodney Ramcharan
Edison Yu

The Effects of Competition in Consumer Credit Market
w26171 Lucian A. Bebchuk
Alon Brav
Wei Jiang
Thomas Keusch

Dancing With Activists
w26165 Stefania Albanesi
Domonkos F. Vamossy

Predicting Consumer Default: A Deep Learning Approach
w26163 Lei Li
Elena Loutskina
Philip E. Strahan

Deposit Market Power, Funding Stability and Long-Term Credit
w26147 Marco Di Maggio
Mark L. Egan
Francesco Franzoni

The Value of Intermediation in the Stock Market
w26115 Michael Ewens
Alexander S. Gorbenko
Arthur Korteweg

Venture Capital Contracts
w26113 Arpit Gupta
Kunal Sachdeva

Skin or Skim? Inside Investment and Hedge Fund Performance
w26110 Jeremy Burke
Julian Jamison
Dean Karlan
Kata Mihaly
Jonathan Zinman

Credit Building or Credit Crumbling? A Credit Builder Loan's Effects on Consumer Behavior, Credit Scores and Their Predictive Power
w26102 Moritz Lenel
Monika Piazzesi
Martin Schneider

The Short Rate Disconnect in a Monetary Economy
w26098 Michael D. Bordo
Edward S. Prescott

Federal Reserve Structure, Economic Ideas, and Monetary and Financial Policy
w26062 Justin Birru
Sinan Gokkaya
Xi Liu
René M. Stulz

Are Analyst Trade Ideas Valuable?
w26049 Jonas Heipertz
Amine Ouazad
Romain Rancière

The Transmission of Shocks in Endogenous Financial Networks: A Structural Approach
w26046 Andrew Lilley
Matteo Maggiori
Brent Neiman
Jesse Schreger

Exchange Rate Reconnect
w26034 Matthew S. Jaremski
David C. Wheelock

The Founding of the Federal Reserve, the Great Depression and the Evolution of the U.S. Interbank Network
w26027 Robert F. Stambaugh
Skill and Profit in Active Management
w25976 M. Kate Bundorf
Maria Polyakova
Ming Tai-Seale

How do Humans Interact with Algorithms? Experimental Evidence from Health Insurance
w25966 Andra C. Ghent
What's Wrong with Pittsburgh? Delegated Investors and Liquidity Concentration
w25946 Jason Roderick Donaldson
Giorgia Piacentino
Anjan Thakor

Intermediation Variety
w25943 Robert Bartlett
Adair Morse
Richard Stanton
Nancy Wallace

Consumer-Lending Discrimination in the FinTech Era
w25929 Orazio Attanasio
Matthew Bird
Lina Cardona-Sosa
Pablo Lavado

Freeing Financial Education via Tablets: Experimental Evidence from Colombia
w25914 Lucian A. Bebchuk
Scott Hirst

The Specter of the Giant Three
w25897 Charles W. Calomiris
Matthew S. Jaremski
David C. Wheelock

Interbank Connections, Contagion and Bank Distress in the Great Depression
w25891 Gary B. Gorton
The Regulation of Private Money
w25877 Markus K. Brunnermeier
Dirk Niepelt

On the Equivalence of Private and Public Money
w25872 Ross Levine
Chen Lin
Qilin Peng
Wensi Xie

Communication within Banking Organizations and Small Business Lending
w25861 Vivek Bhattacharya
Gaston Illanes
Manisha Padi

Fiduciary Duty and the Market for Financial Advice
w25855 Eric Budish
Robin S. Lee
John J. Shim

A Theory of Stock Exchange Competition and Innovation: Will the Market Fix the Market?
w25814 Eliezer Fich
Viktoriya Lantushenko
Clemens Sialm

Institutional Trading Around M&A Announcements
w25812 Steven Sprick Schuster
Matthew Jaremski
Elisabeth Ruth Perlman

An Empirical History of the United States Postal Savings System
w25807 Stefan Nagel
Amiyatosh Purnanandam

Bank Risk Dynamics and Distance to Default
w25795 Haoyu Gao
Hong Ru
Robert Townsend
Xiaoguang Yang

Rise of Bank Competition: Evidence from Banking Deregulation in China
w25794 Itzhak Ben-David
Ajay A. Palvia
René M. Stulz

Do Distressed Banks Really Gamble for Resurrection?
w25749 François Gerard
Joana Naritomi

Job Displacement Insurance and (the Lack of) Consumption-Smoothing
w25718 Paul D. Adams
Stefan Hunt
Christopher Palmer
Redis Zaliauskas

Testing the Effectiveness of Consumer Financial Disclosure: Experimental Evidence from Savings Accounts
w25717 Patrick Bolton
Tao Li
Enrichetta Ravina
Howard L. Rosenthal

Investor Ideology
w25701 Amine Ouazad
Romain Rancière

Market Frictions, Arbitrage, and the Capitalization of Amenities
w25698 Adriano A. Rampini
S. Viswanathan
Guillaume Vuillemey

Risk Management in Financial Institutions
w25694 Prachi Mishra
Nagpurnanand R. Prabhala
Raghuram G. Rajan

The Relationship Dilemma: Why Do Banks Differ in the Pace at Which They Adopt New Technology?
w25686 Richard B. Berner
Stephen G. Cecchetti
Kermit L. Schoenholtz

Stress Testing Networks: The Case of Central Counterparties
w25677 Shan Ge
Michael S. Weisbach

The Role of Financial Conditions in Portfolio Choices: The Case of Insurers
w25668 Bronson Argyle
Taylor D. Nadauld
Christopher Palmer

Monthly Payment Targeting and the Demand for Maturity
w25667 Zheng Liu
Pengfei Wang
Tao Zha

A Theory of Housing Demand Shocks
w25649 Itamar Drechsler
Alexi Savov
Philipp Schnabl

How Monetary Policy Shaped the Housing Boom
w25644 Erik P. Gilje
Todd Gormley
Doron Y. Levit

Who's Paying Attention? Measuring Common Ownership and Its Impact on Managerial Incentives
w25634 Vojislav Maksimovic
Gordon M. Phillips
Liu Yang

Do Public Firms Respond to Industry Opportunities More Than Private Firms? The Impact of Initial Firm Quality
w25618 Yiqun Chen
Petra Persson
Maria Polyakova

The Roots of Health Inequality and The Value of Intra-Family Expertise
w25592 Lin William Cong
Zhiguo He
Jiasun Li

Decentralized Mining in Centralized Pools
w25586 Itzik Fadlon
Shanthi P. Ramnath
Patricia K. Tong

Market Inefficiency and Household Labor Supply: Evidence from Social Security's Survivors Benefits
w25584 Qing Hu
Ross Levine
Chen Lin
Mingzhu Tai

Mentally Spent: Credit Conditions and Mental Health
w25573 Hui Chen
Scott Joslin
Sophie X. Ni

Demand for Crash Insurance, Intermediary Constraints, and Risk Premia in Financial Markets
w25559 Stephen G. Dimmock
Neng Wang
Jinqiang Yang

The Endowment Model and Modern Portfolio Theory
w25557 John Gathergood
Neale Mahoney
Neil Stewart
Jörg Weber

How Do Americans Repay Their Debt? The Balance-Matching Heuristic
w25549 Marlene Amstad
Zhiguo He

Chinese Bond Market and Interbank Market
w25491 Katja Hanewald
Hazel Bateman
Hanming Fang
Shang Wu

Is There a Demand for Reverse Mortgages in China? Evidence from Two Online Surveys
w25477 Ana Babus
Kinda Cheryl Hachem

Markets for Financial Innovation
w25469 Emmanuel Farhi
Matteo Maggiori

China vs. U.S.: IMS Meets IPS
w25467 Robert Prilmeier
René M. Stulz

Securities Laws, Bank Monitoring, and the Choice Between Cov-lite Loans and Bonds for Highly Levered
w25466 Steven J. Davis
John C. Haltiwanger

Dynamism Diminished: The Role of Housing Markets and Credit Conditions
w25458 Laura Alfaro
Manuel García-Santana
Enrique Moral-Benito

On the Direct and Indirect Real Effects of Credit Supply Shocks
w25450 Barney Hartman-Glaser
Benjamin M. Hébert

The Insurance is the Lemon: Failing to Index Contracts
w25435 Morten Bennedsen
Elena Simintzi
Margarita Tsoutsoura
Daniel Wolfenzon

Do Firms Respond to Gender Pay Gap Transparency?
w25424 Dean Corbae
Pablo D'Erasmo

Capital Requirements in a Quantitative Model of Banking Industry Dynamics
2018
w25414 Shai Bernstein
Abhishek Dev
Josh Lerner

The Creation and Evolution of Entrepreneurial Public Markets
w25410 Matteo Maggiori
Brent Neiman
Jesse Schreger

The Rise of the Dollar and Fall of the Euro as International Currencies
w25407 Joseph Abadi
Markus Brunnermeier

Blockchain Economics
w25406 Markus K. Brunnermeier
Yann Koby

The Reversal Interest Rate
w25405 Sanjiv R. Das
Kris James Mitchener
Angela Vossmeyer

Bank Regulation, Network Topology, and Systemic Risk: Evidence from the Great Depression
w25403 Tomasz Piskorski
Amit Seru

Debt Relief and Slow Recovery: A Decade after Lehman
w25385 Pablo Kurlat
Deposit Spreads and the Welfare Cost of Inflation
w25381 Martin Lettau
Sydney C. Ludvigson
Paulo Manoel

Characteristics of Mutual Fund Portfolios: Where Are the Value Funds?
w25354 Suresh De Mel
Craig McIntosh
Ketki Sheth
Christopher Woodruff

Can Mobile-Linked Bank Accounts Bolster Savings? Evidence from a Randomized Controlled Trial in Sri Lanka
w25337 Anil K. Kashyap
Natalia Kovrijnykh
Jian Li
Anna Pavlova

The Benchmark Inclusion Subsidy
w25292 Elisabeth Kempf
Margarita Tsoutsoura

Partisan Professionals: Evidence from Credit Rating Analysts
w25277 João F. Gomes
Marco Grotteria
Jessica Wachter

Foreseen Risks
w25246 Price Fishback
Sebastián Fleitas
Jonathan Rose
Kenneth Snowden

Collateral Damage: The Impact of Foreclosures on New Home Mortgage Lending in the 1930s
w25222 Kaiji Chen
Tao Zha

Macroeconomic Effects of China's Financial Policies
w25213 Laurence J. Kotlikoff
The Big Con - Reassessing the "Great" Recession and its "Fix"
w25207 Brian Boyer
Taylor D. Nadauld
Keith P. Vorkink
Michael S. Weisbach

Private Equity Indices Based on Secondary Market Transactions
w25203 José L. Fillat
Stefania Garetto
Arthur V. Smith

What are the Consequences of Global Banking for the International Transmission of Shocks? A Quantitative Analysis
w25202 Yujin Kim
Chirantan Chatterjee
Matthew J. Higgins

Moving Beyond the Valley of Death: Regulation and Venture Capital Investments in Early-Stage Biopharmaceutical Firms
w25196 João Granja
Christian Leuz
Raghuram Rajan

Going the Extra Mile: Distant Lending and Credit Cycles
w25185 Falk Bräuning
Victoria Ivashina

U.S. Monetary Policy and Emerging Market Credit Cycles
w25184 Vitaly M. Bord
Victoria Ivashina
Ryan D. Taliaferro

Large Banks and Small Firm Lending
w25174 Edward L. Glaeser
Michael Scott Kincaid
Nikhil Naik

Computer Vision and Real Estate: Do Looks Matter and Do Incentives Determine Looks
w25150 Mark L. Egan
Gregor Matvos
Amit Seru

Arbitration with Uninformed Consumers
w25149 Greg Buchak
Gregor Matvos
Tomasz Piskorski
Amit Seru

Beyond the Balance Sheet Model of Banking: Implications for Bank Regulation and Monetary Policy
w25133 Vanya Horneff
Raimond Maurer
Olivia S. Mitchell

How Will Persistent Low Expected Returns Shape Household Economic Behavior?
w25129 Robert L. Clark
Robert G. Hammond
David Vanderweide

Navigating Complex Financial Decisions at Retirement: Evidence from Annuity Choices in Public Sector Pensions
w25104 Sergey Chernenko
Adi Sunderam

Do Fire Sales Create Externalities?
w25102 Laura Liu
Hyungsik Roger Moon
Frank Schorfheide

Forecasting with Dynamic Panel Data Models
w25098 Lily Fang
Josh Lerner
Chaopeng Wu
Qi Zhang

Corruption, Government Subsidies, and Innovation: Evidence from China
w25097 Andres Liberman
Christopher Neilson
Luis Opazo
Seth Zimmerman

The Equilibrium Effects of Information Deletion: Evidence from Consumer Credit Markets
w25083 Toni Ahnert
Kristin Forbes
Christian Friedrich
Dennis Reinhardt

Macroprudential FX Regulations: Shifting the Snowbanks of FX Vulnerability?
w25075 José María Liberti
Mitchell A. Petersen

Information: Hard and Soft
w25067 Suzanne B. Shu
Robert Zeithammer
John W. Payne

The Pivotal Role of Fairness: Which Consumers Like Annuities?
w25056 Nikolai Roussanov
Hongxun Ruan
Yanhao Wei

Marketing Mutual Funds
w25045 Aleksandar Andonov
Roman Kräussl
Joshua Rauh

The Subsidy to Infrastructure as an Asset Class
w25040 Jiangze Bian
Zhiguo He
Kelly Shue
Hao Zhou

Leverage-Induced Fire Sales and Stock Market Crashes
w25004 Jose A. Lopez
Andrew K. Rose
Mark M. Spiegel

Why Have Negative Nominal Interest Rates Had Such a Small Effect on Bank Performance? Cross Country Evidence
w24998 Peter Koudijs
Laura Salisbury
Gurpal Sran

For Richer, for Poorer: Bankers' Liability and Risk-taking in New England, 1867-1880
w24993 Keith Marzilli Ericson
Justin R. Sydnor

Liquidity Constraints and the Value of Insurance
w24989 Björn Richter
Moritz Schularick
Ilhyock Shim

The Costs of Macroprudential Policy
w24984 Jess Benhabib
Xuewen Liu
Pengfei Wang

Financial Markets, the Real Economy, and Self-fulfilling Uncertainties
w24976 Charlie Eaton
Sabrina Howell
Constantine Yannelis

When Investor Incentives and Consumer Interests Diverge: Private Equity in Higher Education
w24973 Gabriel Chodorow-Reich
Andra Ghent
Valentin Haddad

Asset Insulators
w24964 Peter Ganong
Pascal Noel

Liquidity vs. Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession
w24961 Yiming Cao
Raymond Fisman
Hui Lin
Yongxiang Wang

Target setting and Allocative Inefficiency in Lending: Evidence from Two Chinese Banks
w24956 Julien Hugonnier
Benjamin Lester
Pierre-Olivier Weill

Frictional Intermediation in Over-the-counter Markets
w24941 Josh Lerner
Antoinette Schoar
Jason Mao
Nan R. Zhang

Investing Outside the Box: Evidence from Alternative Vehicles in Private Capital
w24936 Charles W. Calomiris
Sophia Chen

The Spread of Deposit Insurance and the Global Rise in Bank Asset Risk since the 1970s
w24887 Ramana Nanda
Sampsa Samila
Olav Sorenson

The Persistent Effect of Initial Success: Evidence from Venture Capital
w24849 Sara G. Castellanos
Diego Jiménez Hernández
Aprajit Mahajan
Enrique Seira

Expanding Financial Access Via Credit Cards: Evidence from Mexico
w24844 Neil Bhutta
Benjamin J. Keys

Eyes Wide Shut? The Moral Hazard of Mortgage Insurers during the Housing Boom
w24823 Atif Mian
Amir Sufi

Credit Supply and Housing Speculation
w24808 Jeremy Greenwood
Pengfei Han
Juan M. Sanchez

Financing Ventures
w24801 Huaizhi Chen
Lauren Cohen
Umit Gurun
Dong Lou
Christopher Malloy

IQ from IP: Simplifying Search in Portfolio Choice
w24778 Richard T. Thakor
Robert C. Merton

Trust in Lending
w24777 Christian Catalini
Xiang Hui

Online Syndicates and Startup Investment
w24774 Sabrina T. Howell
Marina Niessner
David Yermack

Initial Coin Offerings: Financing Growth with Cryptocurrency Token Sales
w24757 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

A Macroeconomic Model with Financially Constrained Producers and Intermediaries
w24751 Timothy Jackson
Laurence J. Kotlikoff

Banks as Potentially Crooked Secret-Keepers
w24737 Patrick Bolton
Martin Oehmke

Bank Resolution and the Structure of Global Banks
w24730 Ralph Koijen
Stijn Van Nieuwerburgh

Financing the War on Cancer
w24717 Eric Budish
The Economic Limits of Bitcoin and the Blockchain
w24706 Andrew G. Atkeson
Adrien d'Avernas
Andrea L. Eisfeldt
Pierre-Olivier Weill

Government Guarantees and the Valuation of American Banks
w24699 Bronson Argyle
Taylor D. Nadauld
Christopher Palmer
Ryan D. Pratt

The Capitalization of Consumer Financing into Durable Goods Prices
w24678 Victor Chernozhukov
Mert Demirer
Esther Duflo
Iván Fernández-Val

Generic Machine Learning Inference on Heterogeneous Treatment Effects in Randomized Experiments, with an Application to Immunization in India
w24673 Matteo Maggiori
Brent Neiman
Jesse Schreger

International Currencies and Capital Allocation
w24672 Briana Chang
Harrison Hong

Selection versus Talent Effects on Firm Value
w24589 Christopher Martin
Manju Puri
Alexander Ufier

Deposit Inflows and Outflows in Failing Banks: The Role of Deposit Insurance
w24582 Itamar Drechsler
Alexi Savov
Philipp Schnabl

Banking on Deposits: Maturity Transformation without Interest Rate Risk
w24551 Tobias Berg
Valentin Burg
Ana Gombović
Manju Puri

On the Rise of FinTechs - Credit Scoring using Digital Footprints
w24526 Carlos J. Serrano
Rosemarie Ziedonis

How Redeployable are Patent Assets? Evidence from Failed Startups
w24523 Michael Ewens
Ramana Nanda
Matthew Rhodes-Kropf

Cost of Experimentation and the Evolution of Venture Capital
w24517 Ramana Nanda
Matthew Rhodes-Kropf

Coordination Frictions in Venture Capital Syndicates
w24509 Juan Ospina
Harald Uhlig

Mortgage-Backed Securities and the Financial Crisis of 2008: a Post Mortem
w24501 Michael D. Bordo
John V. Duca

The Impact of the Dodd-Frank Act on Small Business
w24500 Andreas Fuster
Matthew Plosser
Philipp Schnabl
James Vickery

The Role of Technology in Mortgage Lending
w24476 Marshall Burke
Lauren Falcao Bergquist
Edward Miguel

Sell Low and Buy High: Arbitrage and Local Price Effects in Kenyan Markets
w24474 Norman Loayza
Amine Ouazad
Romain Rancière

Financial Development, Growth, and Crisis: Is There a Trade-Off?
w24460 Charles W. Calomiris
Mark Carlson

Bank Examiners' Information and Expertise and Their Role in Monitoring and Disciplining Banks Before and During the Panic of 1893
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Charles W. Calomiris

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The Relevance of Broker Networks for Information Diffusion in the Stock Market
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Exit, Voice or Loyalty? An Investigation into Mandated Portability of Front-Loaded Private Health Plans
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Financial Intermediation in Private Equity: How Well Do Funds of Funds Perform?
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Ron Kaniel
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Risk of Life Insurers: Recent Trends and Transmission Mechanisms
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Financial Integration and Liquidity Crises
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All the President's Friends: Political Access and Firm Value
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Sharing R&D Risk in Healthcare via FDA Hedges
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Government Debt and Corporate Leverage: International Evidence
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Subrogation and the Theory of Insurance When Suits Can Be Brought for Losses Suffered
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The Cross Section of Bank Value
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Fintech, Regulatory Arbitrage, and the Rise of Shadow Banks
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Bank Capital Redux: Solvency, Liquidity, and Crisis
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Life Insurance and Life Settlement Markets with Overconfident Policyholders
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Mapping the Interconnectedness between EU Banks and Shadow Banking Entities
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What is a Patent Worth? Evidence from the U.S. Patent "Lottery"
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How Debit Cards Enable the Poor to Save More
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Financial Cycles with Heterogeneous Intermediaries
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When Harry Fired Sally: The Double Standard in Punishing Misconduct
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Real Anomalies
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The Emergence of Market Structure
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Financial Frictions and Employment during the Great Depression
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Are Larger Banks Valued More Highly?
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FX Market Metrics: New Findings Based on CLS Bank Settlement Data
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Funding Liquidity without Banks: Evidence from a Shock to the Cost of Very Short-Term Debt
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Bank Health Post-Crisis
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A Narrative Analysis of Mortgage Asset Purchases by Federal Agencies
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The Macroeconomic Effects of Government Asset Purchases: Evidence from Postwar US Housing Credit Policy
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The (Dis)Advantages of Clearinghouses Before the Fed
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Backtesting European Stress Tests
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Optimal Social Security Claiming Behavior under Lump Sum Incentives: Theory and Evidence
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The Impact of Consumer Credit Access on Employment, Earnings and Entrepreneurship
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The Theory of Credit and Macro-economic Stability
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Political Borders and Bank Lending in Post-Crisis America
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Intertemporal Substitution in Health Care Demand: Evidence from the RAND Health Insurance Experiment
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Securities Lending as Wholesale Funding: Evidence from the U.S. Life Insurance Industry
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Multidimensional Private Information, Market Structure and Insurance Markets
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Inattention and Switching Costs as Sources of Inertia in Medicare Part D
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Fiscal Risk and the Portfolio of Government Programs
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Minimum Payments and Debt Paydown in Consumer Credit Cards
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Measuring Liquidity Mismatch in the Banking Sector
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The Long-Term-Care Insurance Puzzle: Modeling and Measurement
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Putting the Pension Back in 401(k) Plans: Optimal versus Default Longevity Income Annuities
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Bad Credit, No Problem? Credit and Labor Market Consequences of Bad Credit Reports
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Standing on the Shoulders of Giants: The Effect of Passive Investors on Activism
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Subsidy Policies and Insurance Demand
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Gene Amromin
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Loan Product Steering in Mortgage Markets
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Stealing Deposits: Deposit Insurance, Risk-Taking and the Removal of Market Discipline in Early 20th Century Banks
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The Stock Market and Bank Risk-Taking
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Intellectual Property Rights Protection, Ownership, and Innovation: Evidence from China
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Pay Now or Pay Later?: The Economics within the Private Equity Partnership
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Two Centuries of Finance and Growth in the United States, 1790-1980
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International Banking and Cross-border Effects of Regulation: Lessons from the United States
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How Quantitative Easing Works: Evidence on the Refinancing Channel
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Incentive Fees and Competition in Pension Funds: Evidence from a Regulatory Experiment
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Research and Impacts of Digital Financial Services
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Nominal Rigidities in Debt and Product Markets
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III
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Measuring Institutional Investors' Skill from Their Investments in Private Equity
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Geographic Diversification and Banks' Funding Costs
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The I Theory of Money
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The Marginal Propensity to Consume Over the Business Cycle
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Family Descent as a Signal of Managerial Quality: Evidence from Mutual Funds
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Josh Lerner

Venture Capital Data: Opportunities and Challenges
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Steven N. Kaplan

Do Private Equity Funds Manipulate Reported Returns?
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Analyst Promotions within Credit Rating Agencies: Accuracy or Bias?
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The FinTech Opportunity
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Dean Karlan
Jonathan Robinson
Diego Ubfal

Banking the Unbanked? Evidence From Three Countries
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Anton Korinek

Pecuniary Externalities in Economies with Financial Frictions
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Emily Breza
Andres Liberman

The Labor Market Effects of Credit Market Information
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Ramana Nanda

Can Paying Firms Quicker Affect Aggregate Employment?
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Erik Loualiche
Matthew Plosser

Buyout Activity: The Impact of Aggregate Discount Rates
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Berk A. Sensoy
Keith Vorkink
Michael S. Weisbach

The Liquidity Cost of Private Equity Investments: Evidence from Secondary Market Transactions
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Changcheng Song

Do Disaster Experience and Knowledge Affect Insurance Take-up Decisions?
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Adi Sunderam

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds
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Amy Finkelstein
Paul Schrimpf

Bunching at the Kink: Implications for Spending Responses to Health Insurance Contracts
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Antoinette Schoar

Do Credit Card Companies Screen for Behavioral Biases?
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Hanno Lustig
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Equity is Cheap for Large Financial Institutions: The International Evidence
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Marcin Kacperczyk

The Unintended Consequences of the Zero Lower Bound Policy
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Yuliy Sannikov

Macro, Money and Finance: A Continuous Time Approach
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Sovereign Risk and Bank Lending: Evidence from 1999 Turkish Earthquake
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Amir Kermani
Zhaogang Song

The Value of Trading Relationships in Turbulent Times
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Dennis Reinhardt
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The Spillovers, Interactions, and (Un)Intended Consequences of Monetary and Regulatory Policies
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A Model of the International Monetary System
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Household Risk Management
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Amy Finkelstein
Maria Polyakova

Private Provision of Social Insurance: Drug-specific Price Elasticities and Cost Sharing in Medicare Part D
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Song Ma
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How Does Hedge Fund Activism Reshape Corporate Innovation?
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Arvind Krishnamurthy
Konstantin Milbradt

A Model of Safe Asset Determination
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Francesco Franzoni
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The Granular Nature of Large Institutional Investors
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David Yermack

Digital Currencies, Decentralized Ledgers, and the Future of Central Banking
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Matthew Jaremski

Deposit Insurance: Theories and Facts
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The History and Economics of Safe Assets
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David O. Lucca
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The Economics of Bank Supervision
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Ross Levine
Chen Lin

Competition and Bank Liquidity Creation
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Linda S. Goldberg

Organizational Complexity and Balance Sheet Management in Global Banks
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Borja Larrain
Clemens Sialm
José Tessada

Coordinated Noise Trading: Evidence from Pension Fund Reallocations
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Chen Lin
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Corporate Resilience to Banking Crises: The Roles of Trust and Trade Credit
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Alexi Savov
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The Deposits Channel of Monetary Policy
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Ralf R. Meisenzahl
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The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles
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Dasol Kim
Robert J. Shiller

Crash Beliefs From Investor Surveys
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Mu-Jeung Yang

Financial Dampening
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The Theory of Unconventional Monetary Policy
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Yan Liu

Rethinking Performance Evaluation
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Robert Prilmeier
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Why Does Fast Loan Growth Predict Poor Performance for Banks?
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Gary Richardson

Network Contagion and Interbank Amplification during the Great Depression
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Anil K. Kashyap

Liquidity Requirements, Liquidity Choice and Financial Stability
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Gregor Matvos
Amit Seru

The Market for Financial Adviser Misconduct
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Anupam B. Jena
Dan P. Ly
Seth A. Seabury

Self-insuring against Liability Risk: Evidence from Physician Home Values in States with Unlimited Homestead Exemptions
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Restoring Rational Choice: The Challenge of Consumer Financial Regulation
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John V. Duca
Christoffer Koch

Economic Policy Uncertainty and the Credit Channel: Aggregate and Bank Level U.S. Evidence over Several Decades
w22006 Gaetano Gaballo
Ramon Marimon

Breaking the Spell with Credit-Easing: Self-Confirming Credit Crises in Competitive Search Economies
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Fernando Ferreira
Stephen L. Ross

What Drives Racial and Ethnic Differences in High Cost Mortgages? The Role of High Risk Lenders
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Luis Garicano
Philip Lane
Marco Pagano
Ricardo Reis
Tano Santos
David Thesmar
Stijn Van Nieuwerburgh
Dimitri Vayanos

The Sovereign-Bank Diabolic Loop and ESBies
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Andrew K. Rose
Tomasz Wieladek

Does Government Intervention Affect Banking Globalization?
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Deepak Hegde
Alexander Ljungqvist

The Bright Side of Patents
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David Hirshleifer

Overconfident Investors, Predictable Returns, and Excessive Trading
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Olivia S. Mitchell
Ralph Rogalla

Exchanging Delayed Social Security Benefits for Lump Sums: Could This Incentivize Longer Work Careers?
w19030 Andrew Ang
Bingxu Chen
Suresh Sundaresan

Liability Investment with Downside Risk
w18950 Esther Duflo
Abhijit Banerjee
Rachel Glennerster
Cynthia G. Kinnan

The Miracle of Microfinance? Evidence from a Randomized Evaluation
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
w19004 Randall Morck
M. Deniz Yavuz
Bernard Yeung

State-run Banks, Money Growth, and the Real Economy
w18984 Karthik Balakrishnan
Mary B. Billings
Bryan T. Kelly
Alexander Ljungqvist

Shaping Liquidity: On the Causal Effects of Voluntary Disclosure
w18968 Viral V. Acharya
Robert Engle
Diane Pierret

Testing Macroprudential Stress Tests: The Risk of Regulatory Risk Weights
w18965 Stuart A. Gabriel
Matthew E. Kahn
Ryan K. Vaughn

Congressional Influence as a Determinant of Subprime Lending
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.
w18943 Tobias Adrian
Hyun Song Shin

Procyclical Leverage and Value-at-Risk
w18942 Valentina Bruno
Hyun Song Shin

Capital Flows and the Risk-Taking Channel of Monetary Policy
w18923 Anil K. Kashyap
Natalia Kovrijnykh

Who Should Pay for Credit Ratings and How?
w18910 Umit G. Gurun
Gregor Matvos
Amit Seru

Advertising Expensive Mortgages
w18909 Bo Becker
Victoria Ivashina

Reaching for Yield in the Bond Market
w18903 Jongha Lim
Berk A. Sensoy
Michael S. Weisbach

Indirect Incentives of Hedge Fund Managers
w18895 Kris James Mitchener
Gary Richardson

Does "Skin in the Game" Reduce Risk Taking? Leverage, Liability and the Long-Run Consequences of New Deal Banking Reforms
w18892 Viral V. Acharya
Heitor Almeida
Filippo Ippolito
Ander Perez

Credit Lines as Monitored Liquidity Insurance: Theory and Evidence
w18891 Viral V. Acharya
Marco Pagano
Paolo Volpin

Seeking Alpha: Excess Risk Taking and Competition for Managerial Talent
w18890 Mary Amiti
David E. Weinstein

How Much do Idiosyncratic Bank Shocks Affect Investment? Evidence from Matched Bank-Firm Loan Data
w18867 Man Lung Chan
Kalina Manova

Financial Development and the Choice of Trade Partners
w18857 Augustin Landier
David Sraer
David Thesmar

Banks' Exposure to Interest Rate Risk and The Transmission of Monetary Policy
w18850 Patrick Bajari
Chenghuan Sean Chu
Denis Nekipelov
Minjung Park

A Dynamic Model of Subprime Mortgage Default: Estimation and Policy Implications
w18843 Tomasz Piskorski
Amit Seru
James Witkin

Asset Quality Misrepresentation by Financial Intermediaries: Evidence from RMBS Market
w18793 Berk A. Sensoy
Yingdi Wang
Michael S. Weisbach

Limited Partner Performance and the Maturing of the Private Equity Industry
w18789 Matthew S. Jaremski
National Banking's Role in U.S. Industrialization, 1850-1900
w18766 Jaromir Nosal
Guillermo Ordoñez

Uncertainty as Commitment
w18764 Veronika K. Pool
Clemens Sialm
Irina Stefanescu

It Pays to Set the Menu: Mutual Fund Investment Options in 401(k) Plans
w18737 Ricardo J. Caballero
Emmanuel Farhi

A Model of the Safe Asset Mechanism (SAM): Safety Traps and Economic Policy
w18733 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision in 180 Countries from 1999 to 2011
w18732 Gary B. Gorton
Guillermo Ordoñez

The Supply and Demand for Safe Assets
w18713 Stephen H. Haber
Aldo Musacchio

These Are the Good Old Days: Foreign Entry and the Mexican Banking System
w18706 Claude B. Erb
Campbell R. Harvey

The Golden Dilemma
haub10-1 Joseph G. Haubrich and Andrew W. Lo
editors

Quantifying Systemic Risk
w18698 Naoki Aizawa
Hanming Fang

Equilibrium Labor Market Search and Health Insurance Reform
2012
w18611 Gary Gorton
Andrew Metrick

Securitization
w18582 Fabian Duarte
Justine S. Hastings

Fettered Consumers and Sophisticated Firms: Evidence from Mexico's Privatized Social Security Market
w18609 Sumit Agarwal
Efraim Benmelech
Nittai Bergman
Amit Seru

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
w18608 Jennifer Brown
Dylan B. Minor

Misconduct in Credence Good Markets
w18601 Daniel Gottlieb
Kent Smetters

Narrow Framing and Life Insurance
w18549 Tobias Adrian
Brian Begalle
Adam Copeland
Antoine Martin

Repo and Securities Lending
w18541 Takatoshi Ito
Kenta Yamada
Misako Takayasu
Hideki Takayasu

Free Lunch! Arbitrage Opportunities in the Foreign Exchange Markets
w18538 Britta Augsburg
Ralph De Haas
Heike Harmgart
Costas Meghir

The Impacts of Microcredit: Evidence from Bosnia and Herzegovina
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
w18483 Harry Huizinga
Johannes Voget
Wolf Wagner

International Taxation and Cross-Border Banking
w18471 Nick Netzer
Florian Scheuer

A Game Theoretic Foundation of Competitive Equilibria with Adverse Selection
w18465 Kristin Forbes
The "Big C": Identifying Contagion
w18463 Dean Karlan
Robert Darko Osei
Isaac Osei-Akoto
Christopher Udry

Agricultural Decisions after Relaxing Credit and Risk Constraints
w18455 Gary B. Gorton
Andrew Metrick

Who Ran on Repo?
w18444 Isaac Ehrlich
Yong Yin

The Problem of the Uninsured
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
w18412 Justine S. Hastings
Brigitte C. Madrian
William L. Skimmyhorn

Financial Literacy, Financial Education and Economic Outcomes
w18398 Markus K. Brunnermeier
Martin Oehmke

Bubbles, Financial Crises, and Systemic Risk
w18397 Gary B. Gorton
Some Reflections on the Recent Financial Crisis
w18394 John Y. Campbell
Tarun Ramadorai
Benjamin Ranish

How Do Regulators Influence Mortgage Risk: Evidence from an Emerging Market
w18388 Jonathan Rose
Kenneth A. Snowden

The New Deal and the Origins of the Modern American Real Estate Loan Contract
w18379 Enrique G. Mendoza
Marco E. Terrones

An Anatomy of Credit Booms and their Demise
w18358 Michael J. Fishman
Jonathan A. Parker

Valuation, Adverse Selection, and Market Collapses
w18356 Jongha Lim
Bernadette A. Minton
Michael Weisbach

Syndicated Loan Spreads and the Composition of the Syndicate
w18346 Gordon M. Phillips
Alexei Zhdanov

R&D and the Incentives from Merger and Acquisition Activity
w18335 Tobias Adrian
Paolo Colla
Hyun Song Shin

Which Financial Frictions? Parsing the Evidence from the Financial Crisis of 2007-9
w18311 Sumit Agarwal
Gene Amromin
Itzhak Ben-David
Souphala Chomsisengphet
Tomasz Piskorski
Amit Seru

Policy Intervention in Debt Renegotiation: Evidence from the Home Affordable Modification Program
w18269 Donghoon Lee
Christopher J. Mayer
Joseph Tracy

A New Look at Second Liens
w18339 John Y. Campbell
Mortgage Market Design
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
w18303 Luca Guerrieri
Matteo Iacoviello
Raoul Minetti

Banks, Sovereign Debt and the International Transmission of Business Cycles
w18297 Albert N. Link
Christopher J. Ruhm
Donald S. Siegel

Private Equity and the Innovation Strategies of Entrepreneurial Firms: Empirical Evidence from the Small Business Innovation Research Program
w18289 Janvier D. Nkurunziza
Léonce Ndikumana
Prime Nyamoya

The Financial Sector in Burundi
w18270 Craig B. Merrill
Taylor D. Nadauld
René M. Stulz
Shane Sherlund

Did Capital Requirements and Fair Value Accounting Spark Fire Sales in Distressed Mortgage-Backed Securities?
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
w18220 Brigitte C. Madrian
Matching Contributions and Savings Outcomes: A Behavioral Economics Perspective
w18208 Jennifer Brown
David A. Matsa

Boarding a Sinking Ship? An Investigation of Job Applications to Distressed Firms
w18184 Jonathan B. Berk
Jules H. van Binsbergen

Measuring Managerial Skill in the Mutual Fund Industry
w18174 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Money Doctors
w18173 William N. Goetzmann
Sharon Oster

Competition Among University Endowments
w18158 John Chalmers
Jonathan Reuter

Is Conflicted Investment Advice Better than No Advice?
w18141 Paul Gompers
Vladimir Mukharlyamov
Yuhai Xuan

The Cost of Friendship
w18137 André de Souza
Anthony W. Lynch

Does Mutual Fund Performance Vary over the Business Cycle?
w18102 Markus K. Brunnermeier
Thomas M. Eisenbach
Yuliy Sannikov

Macroeconomics with Financial Frictions: A Survey
w18096 Raymond Fisman
Daniel Paravisini
Vikrant Vig

Cultural Proximity and Loan Outcomes
w18080 Edward Kutsoati
Randall Morck

Family Ties, Inheritance Rights, and Successful Poverty Alleviation: Evidence from Ghana
w18077 Thomas Philippon
Has the U.S. Finance Industry Become Less Efficient? On the Theory and Measurement of Financial Intermediation
w18050 Martijn Cremers
Antti Petajisto
Eric Zitzewitz

Should Benchmark Indices Have Alpha? Revisiting Performance Evaluation
w18043 Armen Hovakimian
Edward J. Kane
Luc Laeven

Tracking Variation in Systemic Risk at US Banks During 1974-2013
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.
w18021 Matthew Jaremski
Peter L. Rousseau

Banks, Free Banks, and U.S. Economic Growth
w18004 Asli Demirguc-Kunt
Erik Feyen
Ross Levine

The Evolving Importance of Banks and Securities Markets
w17952 Dean Karlan
Melanie Morten
Jonathan Zinman

A Personal Touch: Text Messaging for Loan Repayment
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
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
w17899 Hanming Fang
Edward Kung

Why Do Life Insurance Policyholders Lapse? The Roles of Income, Health and Bequest Motive Shocks
w17886 Pierluigi Balduzzi
Jonathan Reuter

Heterogeneity in Target-Date Funds: Optimal Risk-Taking or Risk Matching?
w17874 Robert S. Harris
Tim Jenkinson
Steven N. Kaplan

Private Equity Performance: What Do We Know?
w17868 Charles W. Calomiris
Doron Nissim

Crisis-Related Shifts in the Market Valuation of Banking Activities
w17858 Juliano J. Assunção
Efraim Benmelech
Fernando S. S. Silva

Repossession and the Democratization of Credit
w17857 Robin McKnight
Jonathan Reuter
Eric Zitzewitz

Insurance as Delegated Purchasing: Theory and Evidence from Health Care
w17856 Jongha Lim
Bernadette A. Minton
Michael S. Weisbach

Equity-Holding Institutional Lenders: Do they Receive Better Terms?
w17854 Kay Giesecke
Francis A. Longstaff
Stephen Schaefer
Ilya Strebulaev

Macroeconomic Effects of Corporate Default Crises: A Long-Term Perspective
w17851 Pascaline Dupas
Sarah Green
Anthony Keats
Jonathan Robinson

Challenges in Banking the Rural Poor: Evidence from Kenya's Western Province
w17838 Viral V. Acharya
Nada Mora

Are Banks Passive Liquidity Backstops? Deposit Rates and Flows during the 2007-2009 Crisis
w17822 Shekhar Aiyar
Charles W. Calomiris
Tomasz Wieladek

Does Macro-Pru Leak? Evidence from a UK Policy Experiment
w17808 Howard Bodenhorn
Voting Rights, Share Concentration, and Leverage at Nineteenth-Century US Banks
w17802 Aviva Aron-Dine
Liran Einav
Amy Finkelstein
Mark R. Cullen

Moral Hazard in Health Insurance: How Important Is Forward Looking Behavior?
w17780 Joon-Ho Hahm
Frederic S. Mishkin
Hyun Song Shin
Kwanho Shin

Macroprudential Policies in Open Emerging Economies
w17777 Gary B. Gorton
Stefan Lewellen
Andrew Metrick

The Safe-Asset Share
w17771 Gary B. Gorton
Guillermo Ordonez

Collateral Crises
w17768 Arvind Krishnamurthy
Stefan Nagel
Dmitry Orlov

Sizing Up Repo
w17751 Jack Favilukis
David Kohn
Sydney C. Ludvigson
Stijn Van Nieuwerburgh

International Capital Flows and House Prices: Theory and Evidence
w17743 Abhijit Banerjee
Arun G. Chandrasekhar
Esther Duflo
Matthew O. Jackson

The Diffusion of Microfinance
w17736 Sumit Agarwal
David Lucca
Amit Seru
Francesco Trebbi

Inconsistent Regulators: Evidence From Banking
2011
w17686 Eric van Wincoop
International Contagion Through Leveraged Financial Institutions
w17685 Dwight Jaffee
John M. Quigley

The Future of the Government Sponsored Enterprises: The Role for Government in the U.S. Mortgage Market
w17660 Martin Goetz
Luc Laeven
Ross Levine

The Valuation Effects of Geographic Diversification: Evidence from U.S. Banks
w17615 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Time-Varying Fund Manager Skill
w17599 Patrick Bolton
Martin Oehmke

Should Derivatives be Privileged in Bankruptcy?
w17568 Wonho Wilson Choi
Andrew Metrick
Ayako Yasuda

A Model of Private Equity Fund Compensation
w17567 Alex Edmans
Vivian W. Fang
Emanuel Zur

The Effect of Liquidity on Governance
w17558 Viral V. Acharya
A Transparency Standard for Derivatives
w17542 Viral V. Acharya
Raghuram G. Rajan

Sovereign Debt, Government Myopia, and the Financial Sector
w17523 Marco Da Rin
Thomas F. Hellmann
Manju Puri

A survey of venture capital research
w17522 Kristian Rydqvist
Joshua Spizman
Ilya A. Strebulaev

Government Policy and Ownership of Financial Assets
w17518 Todd A. Gormley
Simon Johnson
Changyong Rhee

Ending "Too Big To Fail": Government Promises vs. Investor Perceptions
w17517 Alon Brav
Wei Jiang
Hyunseob Kim

The Real Effects of Hedge Fund Activism: Productivity, Asset Allocation, and Labor Outcomes
w17516 John Y. Campbell
João F. Cocco

A Model of Mortgage Default
w17505 Vasily Kartashov
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Lifecycle Portfolio Choice with Systematic Longevity Risk and Variable Investment-Linked Deferred Annuities
w17491 Diane Del Guercio
Jonathan Reuter

Mutual Fund Performance and the Incentive to Generate Alpha
w17490 Francis X. Diebold
Kamil Yilmaz

On the Network Topology of Variance Decompositions: Measuring the Connectedness of Financial Firms
w17454 Tobias Adrian
Markus K. Brunnermeier

CoVaR
w17468 Efraim Benmelech
Eyal Dvir

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
w17459 Benjamin R. Handel
Adverse Selection and Switching Costs in Health Insurance Markets: When Nudging Hurts
w17443 Alejandro Komai
Gary Richardson

A Brief History of Regulations Regarding Financial Markets in the United States: 1789 to 2009
w17437 Gary Richardson
Patrick Van Horn

In the Eye of a Storm: Manhattan's Money Center Banks During the International Financial Crisis of 1931
w17428 David T. Robinson
Berk A. Sensoy

Cyclicality, Performance Measurement, and Cash Flow Liquidity in Private Equity
w17422 Jakub W. Jurek
Erik Stafford

Crashes and Collateralized Lending
w17403 Erwann Michel-Kerjan
Paul Raschky
Howard Kunreuther

Corporate Demand for Insurance: An Empirical Analysis of the U.S. Market for Catastrophe and Non-Catastrophe Risks
w17399 Steven J. Davis
John C. Haltiwanger
Ron S. Jarmin
Josh Lerner
Javier Miranda

Private Equity and Employment
w17392 Bo Becker
Victoria Ivashina

Cyclicality of Credit Supply: Firm Level Evidence
w17368 John R. Graham
Si Li
Jiaping Qiu

Managerial Attributes and Executive Compensation
w17358 Claudio Raddatz
Sergio L. Schmukler

On the International Transmission of Shocks: Micro-Evidence from Mutual Fund Portfolios
w17355 Nicola Cetorelli
Linda S. Goldberg

Liquidity management of U.S. global banks: Internal capital markets in the great recession
w17321 Marcin Kacperczyk
Philipp Schnabl

Implicit Guarantees and Risk Taking: Evidence from Money Market Funds
w17299 Oliver D. Hart
Luigi Zingales

Inefficient Provision of Liquidity
w17292 Clemens Sialm
T. Mandy Tham

Spillover Effects in Mutual Fund Companies
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?
w17266 Raghuram G. Rajan
Rodney Ramcharan

Constituencies and Legislation: The Fight over the McFadden Act of 1927
w17252 Pierre-Olivier Gourinchas
Maurice Obstfeld

Stories of the Twentieth Century for the Twenty-First
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
w17192 Efraim Benmelech
Nittai K. Bergman
Ricardo Enriquez

Negotiating with Labor Under Financial Distress
w17181 Thomas Åstebro
Carlos J. Serrano

Business Partners, Financing, and the Commercialization of Inventions
w17149 Bryan T. Kelly
Hanno Lustig
Stijn Van Nieuwerburgh

Too-Systemic-To-Fail: What Option Markets Imply About Sector-wide Government Guarantees
w17136 Viral V. Acharya
Itamar Drechsler
Philipp Schnabl

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk
w17134 Jingjing Chai
Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Lifecycle Impacts of the Financial and Economic Crisis on Household Optimal Consumption, Portfolio Choice, and Labor Supply
w17122 Yael V. Hochberg
Joshua D. Rauh

Local Overweighting and Underperformance: Evidence from Limited Partner Private Equity Investments
w17115 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

A Model of Shadow Banking
w17102 Quamrul Ashraf
Boris Gershman
Peter Howitt

Banks, Market Organization, and Macroeconomic Performance: An Agent-Based Computational Analysis
w17076 Deniz Igan
Prachi Mishra
Thierry Tressel

A Fistful of Dollars: Lobbying and the Financial Crisis
w17073 Andrew K. Rose
Tomasz Wieladek

Financial Protectionism: the First Tests
w17065 Christopher J. Mayer
Edward Morrison
Tomasz Piskorski
Arpit Gupta

Mortgage Modification and Strategic Behavior: Evidence from a Legal Settlement with Countrywide
w17050 Annamaria Conti
Marie C. Thursby
Frank Rothaermel

Show Me the Right Stuff: Signals for High Tech Startups
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
w17028 Victor Stango
Jonathan Zinman

Limited and Varying Consumer Attention: Evidence from Shocks to the Salience of Bank Overdraft Fees
w17020 Ximena Cadena
Antoinette Schoar

Remembering to Pay? Reminders vs. Financial Incentives for Loan Payments
w17007 Robert J. Shiller
Rafal M. Wojakowski
M. Shahid Ebrahim
Mark B. Shackleton

Continuous Workout Mortgages
w17006 Leonard Nakamura
Durable Financial Regulation: Monitoring Financial Instruments as a Counterpart to Regulating Financial Institutions
w17000 Viral V. Acharya
Alberto Bisin

Counterparty Risk Externality: Centralized Versus Over-the-counter Markets
w16998 Gianni De Nicolò
Marcella Lucchetta

Systemic Risks and the Macroeconomy
w16994 Douglas W. Diamond
Raghuram Rajan

Illiquid Banks, Financial Stability, and Interest Rate Policy
w16975 Daniel Paravisini
Veronica Rappoport
Philipp Schnabl
Daniel Wolfenzon

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data
w16969 Liran Einav
Amy Finkelstein
Stephen P. Ryan
Paul Schrimpf
Mark R. Cullen

Selection on Moral Hazard in Health Insurance
w16967 Manju Puri
Jörg Rocholl
Sascha Steffen

Global retail lending in the aftermath of the US financial crisis: Distinguishing between supply and demand effects
w16944 Ximena Cadena
Antoinette Schoar
Alexandra Cristea
Héber M. Delgado-Medrano

Fighting Procrastination in the Workplace: An Experiment
w16941 Isil Erel
Brandon Julio
Woojin Kim
Michael S. Weisbach

Macroeconomic Conditions and Capital Raising
w16940 Robert C. Feenstra
Zhiyuan Li
Miaojie Yu

Exports and Credit Constraints Under Incomplete Information: Theory and Evidence from China
w16923 Laura Bottazzi
Marco Da Rin
Thomas F. Hellmann

The Importance of Trust for Investment: Evidence from Venture Capital
w16918 Josh Lerner
Ulrike Malmendier

With a Little Help from My (Random) Friends: Success and Failure in Post-Business School Entrepreneurship
w16902 Radha Iyengar
Giulia Ferrari

Comparing Economic and Social Interventions to Reduce Intimate Partner Violence: Evidence from Central and Southern Africa
w16896 Viral V. Acharya
Irvind Gujral
Nirupama Kulkarni
Hyun Song Shin

Dividends and Bank Capital in the Financial Crisis of 2007-2009
w16890 Lisa D. Cook
Were the Nigerian Banking Reforms of 2005 A Success ... And for the Poor?
w16875 Viral V. Acharya
Lars A. Lochstoer
Tarun Ramadorai

Limits to Arbitrage and Hedging: Evidence from Commodity Markets
w16871 Yongheng Deng
Randall Morck
Jing Wu
Bernard Yeung

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market
w16849 Taylor D. Nadauld
Michael S. Weisbach

Did Securitization Affect the Cost of Corporate Debt?
w16842 Yingcong Lan
Neng Wang
Jinqiang Yang

The Economics of Hedge Funds: Alpha, Fees, Leverage, and Valuation
w16825 Eugene N. White
"To Establish a More Effective Supervision of Banking": How the Birth of the Fed Altered Bank Supervision
w16820 Ajay K. Agrawal
Christian Catalini
Avi Goldfarb

The Geography of Crowdfunding
w16804 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Cream Skimming in Financial Markets
w16801 Andrew Ang
Sergiy Gorovyy
Gregory B. van Inwegen

Hedge Fund Leverage
w16792 Jeffrey R. Brown
Robert Clark
Joshua Rauh

The Economics of State and Local Public Pensions
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
Kyle Mangum
James W. Roberts

Speculators and Middlemen: The Strategy and Performance of Investors in the Housing Market
w16780 Josh Lerner
Peter Tufano

The Consequences of Financial Innovation: A Counterfactual Research Agenda
w16766 Efraim Benmelech
Jennifer Dlugosz
Victoria Ivashina

Securitization without Adverse Selection: The Case of CLOs
w16763 Michael D. Bordo
David C. Wheelock

The Promise and Performance of the Federal Reserve as Lender of Last Resort 1914-1933
w16752 Russell Cooper
Hubert Kempf

Deposit Insurance Without Commitment: Wall St. Versus Main St
w16740 Justine S. Hastings
Olivia S. Mitchell

How Financial Literacy and Impatience Shape Retirement Wealth and Investment Behaviors
w16738 Li Gan
Feng Huang
Adalbert Mayer

A Simple Test of Private Information in the Insurance Markets with Heterogeneous Insurance Demand
w16728 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

Behavioral Economics Perspectives on Public Sector Pension Plans
w16727 Thomas Philippon
Philipp Schnabl

Informational Rents, Macroeconomic Rents, and Efficient Bailouts
w16688 Charles W. Calomiris
Joseph Mason
David Wheelock

Did Doubling Reserve Requirements Cause the Recession of 1937-1938? A Microeconomic Approach
2010
w16652 Andrew Metrick
Ayako Yasuda

Venture Capital and Other Private Equity: A Survey
w16642 Andrei Shleifer
Robert W. Vishny

Fire Sales in Finance and Macroeconomics
w16620 Julio J. Rotemberg
A Behavioral Model of Demandable Deposits and its Implications for Financial Regulation
w16613 Fabio Ghironi
Viktors Stebunovs

The Domestic and International Effects of Interstate U.S. Banking
w16607 Markus K. Brunnermeier
Martin Oehmke

The Maturity Rat Race
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
w16586 Christopher J. Mayer
Tomasz Piskorski
Alexei Tchistyi

The Inefficiency of Refinancing: Why Prepayment Penalties Are Good for Risky Borrowers
w16558 Randall Morck
Shareholder Democracy in Canada
w16521 James A. Brander
Qianqian Du
Thomas F. Hellmann

The Effects of Government-Sponsored Venture Capital: International Evidence
w16490 Randall Morck
Bernard Yeung

Agency Problems and the Fate of Capitalism
w16469 Francis X. Diebold
Georg Strasser

On the Correlation Structure of Microstructure Noise: A Financial Economic Approach
w16467 John Cawley
Chad Meyerhoefer

The Medical Care Costs of Obesity: An Instrumental Variables Approach
w16460 Mark Carlson
Kris James Mitchener
Gary Richardson

Arresting Banking Panics: Fed Liquidity Provision and the Forgotten Panic of 1929
w16456 George Pennacchi
Mahdi Rastad

Portfolio Allocation for Public Pension Funds
w16453 Joshua Rauh
Robert Novy-Marx

Policy Options for State Pension Systems and Their Impact on Plan Liabilities
w16452 Jere R. Behrman
Olivia S. Mitchell
Cindy Soo
David Bravo

Financial Literacy, Schooling, and Wealth Accumulation
w16433 Melissa Schettini Kearney
Peter Tufano
Jonathan Guryan
Erik Hurst

Making Savers Winners: An Overview of Prize-Linked Savings Products
w16409 Henning Bohn
Should Public Retirement Plans be Fully Funded?
w16406 Gopi Shah Goda
The Impact of State Tax Subsidies for Private Long-Term Care Insurance on Coverage and Medicaid Expenditures
w16404 Bo Becker
Todd Milbourn

How did increased competition affect credit ratings?
w16395 Viral V. Acharya
Ouarda Merrouche

Precautionary Hoarding of Liquidity and Inter-Bank Markets: Evidence from the Sub-prime Crisis
w16376 Jeffrey Wurgler
On the Economic Consequences of Index-Linked Investing
w16369 Ji-Woong Chung
Berk A. Sensoy
Lea H. Stern
Michael S. Weisbach

Pay for Performance from Future Fund Flows: The Case of Private Equity
w16335 Steven N. Kaplan
Tobias J. Moskowitz
Berk A. Sensoy

The Effects of Stock Lending on Security Prices: An Experiment
w16329 Jonathan Reuter
Eric Zitzewitz

How Much Does Size Erode Mutual Fund Performance? A Regression Discontinuity Approach
w16312 Diane Del Guercio
Jonathan Reuter
Paula A. Tkac

Broker Incentives and Mutual Fund Market Segmentation
w16272 Alicia M. Robb
David T. Robinson

The Capital Structure Decisions of New Firms
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
w16242 Kenneth A. Snowden
Covered Farm Mortgage Bonds in the Late Nineteenth Century U.S.
w16228 Francesco Giavazzi
Alberto Giovannini

Central Banks and the Financial System
w16223 Monica Billio
Mila Getmansky
Andrew W. Lo
Loriana Pelizzon

Econometric Measures of Systemic Risk in the Finance and Insurance Sectors
w16214 Ravi Jagannathan
Andrei Jirnyi
Ann Sherman

Why Don't Issuers Choose IPO Auctions? The Complexity of Indirect Mechanisms
w16191 Alberto Manconi
Massimo Massa
Ayako Yasuda

The Behavior of Intoxicated Investors: The role of institutional investors in propagating the crisis of 2007-2008
w16182 Kimie Harada
Takatoshi Ito
Shuhei Takahashi

Is the Distance to Default a Good Measure in Predicting Bank Failures? Case Studies
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
w16175 Antje Berndt
Burton Hollifield
Patrik Sandås

The Role of Mortgage Brokers in the Subprime Crisis
w16174 Davin Chor
Kalina Manova

Off the Cliff and Back? Credit Conditions and International Trade during the Global Financial Crisis
w16107 Atif Mian
Amir Sufi
Francesco Trebbi

The Political Economy of the Subprime Mortgage Credit Expansion
w16094 Patrick Bolton
Christopher Harris

The Dynamics of Optimal Risk Sharing
w16079 Viral V. Acharya
Philipp Schnabl

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09
w16068 Nicola Gennaioli
Andrei Shleifer
Robert W. Vishny

Neglected Risks, Financial Innovation, and Financial Fragility
w16031 Lucian A. Bebchuk
Itay Goldstein

Self-Fulfilling Credit Market Freezes
w16008 Andrew Ang
Vineer Bhansali
Yuhang Xing

Build America Bonds
w16007 Susan E. Woodward
Robert E. Hall

Diagnosing Consumer Confusion and Sub-Optimal Shopping Effort: Theory and Mortgage-Market Evidence
w15968 Wenli Li
Michelle J. White
Ning Zhu

Did Bankruptcy Reform Cause Mortgage Default to Rise?
w15956 Ross Levine
An Autopsy of the U.S. Financial System
w15937 Andrew Ang
Nicolas P.B. Bollen

Locked Up by a Lockup: Valuing Liquidity as a Real Option
w15919 Zhiguo He
In Gu Khang
Arvind Krishnamurthy

Balance Sheet Adjustments in the 2008 Crisis
w15884 Randall Morck
Fan Yang

The Shanxi Banks
w15817 Marcus Miller
Joseph E. Stiglitz

Leverage and Asset Bubbles: Averting Armageddon with Chapter 11?
w15837 Viral V. Acharya
S. Viswanathan

Leverage, Moral Hazard and Liquidity
w15831 William R. Kerr
Josh Lerner
Antoinette Schoar

The Consequences of Entrepreneurial Finance: A Regression Discontinuity Analysis
w15824 Price V. Fishback
Alfonso Flores-Lagunes
William Horrace
Shawn E. Kantor
Jaret Treber

The Influence of the Home Owners' Loan Corporation on Housing Markets During the 1930s
w15823 Michael Anderson
Carlos Dobkin
Tal Gross

The Effect of Health Insurance Coverage on the Use of Medical Services
w15821 Denis Gromb
Dimitri Vayanos

Limits of Arbitrage: The State of the Theory
w15806 Gara Afonso
Anna Kovner
Antoinette Schoar

Stressed not Frozen: The Fed Funds Market in the Financial Crisis
w15802 Diego Aragon
Andrew Caplin
Sumit Chopra
John V. Leahy
Yann LeCun
Marco Scoffier
Joseph Tracy

Reassessing FHA Risk
weis10-1 Michael Weisbach
editor

Corporate Governance
w15787 Gary B. Gorton
Questions and Answers about the Financial Crisis
w15785 Thomas Philippon
Vasiliki Skreta

Optimal Interventions in Markets with Adverse Selection
w15761 Hanming Fang
Edward Kung

How Does Life Settlement Affect the Primary Life Insurance Market?
w15730 Viral V. Acharya
Philipp Schnabl
Gustavo Suarez

Securitization without risk transfer
w15710 Kris James Mitchener
David C. Wheelock

Does the Structure of Banking Markets Affect Economic Growth? Evidence from U.S. State Banking Markets
w15686 Liran Einav
Amy Finkelstein
Iuliana Pascu
Mark R. Cullen

How general are risk preferences? Choices under uncertainty in different domains.
w15682 Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

The Effect of Uncertain Labor Income and Social Security on Life-cycle Portfolios
w15674 Viral V. Acharya
Douglas Gale
Tanju Yorulmazer

Rollover Risk and Market Freezes
w15652 Andrei Shleifer
Robert W. Vishny

Asset Fire Sales and Credit Easing
w15646 Lubos Pastor
Robert F. Stambaugh

On the Size of the Active Management Industry
w15632 Shai Bernstein
Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Industry Performance
w15631 Charles Yuji Horioka
Shizuka Sekita

The Degree of Judicial Enforcement and Credit Markets: Evidence from Japanese Household Panel Data
2009
w15627 Ant Bozkaya
William R. Kerr

Labor Regulations and European Private Equity
w15608 John Chalmers
Jonathan Reuter

How Do Retirees Value Life Annuities? Evidence from Public Employees
w15586 Alma Cohen
Peter Siegelman

Testing for Adverse Selection in Insurance 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
w15567 Viral V. Acharya
Hyun Song Shin
Tanju Yorulmazer

Crisis Resolution and Bank Liquidity
w15556 Mary Amiti
David E. Weinstein

Exports and Financial Shocks
w15538 Marcin Kacperczyk
Philipp Schnabl

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009
w15529 Stephen Brown
William Goetzmann
Bing Liang
Christopher Schwarz

Trust and Delegation
w15515 Christian Laux
Christian Leuz

Did Fair-Value Accounting Contribute to the Financial Crisis?
w15512 Moritz Schularick
Alan M. Taylor

Credit Booms Gone Bust: Monetary Policy, Leverage Cycles and Financial Crises, 1870-2008
w15499 William Kerr
Ramana Nanda

Banking Deregulations, Financing Constraints, and Firm Entry Size
w15498 William Kerr
Ramana Nanda

Financing Constraints and Entrepreneurship
w15482 Zhiguo He
Wei Xiong

Dynamic Debt Runs
w15472 Wenli Li
Michelle J. White

Mortgage Default, Foreclosure, and Bankruptcy
w15458 Pietro Veronesi
Luigi Zingales

Paulson's Gift
w15450 Marcin Kacperczyk
Stijn Van Nieuwerburgh
Laura Veldkamp

Rational Attention Allocation Over the Business Cycle
w15449 Martijn Cremers
Roberta Romano

Institutional Investors and Proxy Voting on Compensation Plans: The Impact of the 2003 Mutual Fund Voting Disclosure Regulation
w15447 Santiago Carbo-Valverde
Edward J. Kane
Francisco Rodriguez-Fernandez

Evidence of Regulatory Arbitrage in Cross-Border Mergers of Banks in the EU
w15425 Guillermo A. Calvo
FINANCIAL CRISES AND LIQUIDITY SHOCKS: A Bank-Run Perspective
w15405 Stavros Panageas
Optimal taxation in the presence of bailouts
w15404 Ravi Jagannathan
Mudit Kapoor
Ernst Schaumburg

Causes of the Great Recession of 2007-9: The Financial Crisis is the Symptom not the Disease!
w15403 Charles Calomiris
Banking Crises and the Rules of the Game
w15389 Michael D. Bordo
Joseph G. Haubrich

Credit Crises, Money and Contractions: an historical view
w15384 René M. Stulz
Credit Default Swaps and the Credit Crisis
w15336 George O. Aragon
Philip E. Strahan

Hedge Funds as Liquidity Providers: Evidence from the Lehman Bankruptcy
w15335 Narasimhan Jegadeesh
Roman Kräussl
Joshua Pollet

Risk and Expected Returns of Private Equity Investments: Evidence Based on Market Prices
w15331 Dion Bongaerts
K.J. Martijn Cremers
William N. Goetzmann

Tiebreaker: Certification and Multiple Credit Ratings
w15327 Clemens Sialm
Laura Starks

Mutual Fund Tax Clienteles
w15325 Bronwyn H. Hall
Josh Lerner

The Financing of R&D and Innovation
w15317 Ning Tang
Olivia S. Mitchell
Gary R. Mottola
Stephen Utkus

The Efficiency of Sponsor and Participant Portfolio Choices in 401(k) Plans
hell07-1 Thomas Hellman and Scott Stern
editors

Entrepreneurship: Strategy and Structure
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
w15242 Rajkamal Iyer
Asim Ijaz Khwaja
Erzo F.P. Luttmer
Kelly Shue

Screening Peers Softly: Inferring the Quality of Small Borrowers
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
w15159 Manuel Adelino
Kristopher Gerardi
Paul S. Willen

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization
w15145 Luigi Guiso
Paola Sapienza
Luigi Zingales

Moral and Social Constraints to Strategic Default on Mortgages
w15143 Cindy R. Alexander
Mark A. Chen
Duane J. Seppi
Chester S. Spatt

The Role of Advisory Services in Proxy Voting
w15138 Emmanuel Farhi
Jean Tirole

Collective Moral Hazard, Maturity Mismatch and Systemic Bailouts
w15108 Olivia S. Mitchell
Gary R. Mottola
Stephen P. Utkus
Takeshi Yamaguchi

Default, Framing and Spillover Effects: The Case of Lifecycle Funds in 401(k) Plans
w15102 Henry Chen
Paul Gompers
Anna Kovner
Josh Lerner

Buy Local? The Geography of Successful and Unsuccessful Venture Capital Expansion
w15083 Raghuram G. Rajan
Rodney Ramcharan

Land and Credit: A Study of the Political Economy of Banking in the United States in the Early 20th Century
w15079 Jingjing Chai
Wolfram Horneff
Raimond Maurer
Olivia S. Mitchell

Extending Life Cycle Models of Optimal Portfolio Choice: Integrating Flexible Work, Endogenous Retirement, and Investment Decisions with Lifetime Payouts
w15072 Harald Uhlig
A Model of a Systemic Bank Run
w15045 Efraim Benmelech
Jennifer Dlugosz

The Credit Rating Crisis
w15040 Arvind Krishnamurthy
Amplification Mechanisms in Liquidity Crises
w15038 Vincent Glode
Burton Hollifield
Marcin Kacperczyk
Shimon Kogan

Is Investor Rationality Time Varying? Evidence from the Mutual Fund Industry
w14971 Roger K. Loh
René M. Stulz

When are Analyst Recommendation Changes Influential?
w14943 Andrei Shleifer
Robert W. Vishny

Unstable Banking
w14929 Thomas Philippon
Philipp Schnabl

Efficient Recapitalization
w14925 Douglas W. Diamond
Raghuram G. Rajan

Fear of Fire Sales and the Credit Freeze
w14903 Jennifer Huang
Clemens Sialm
Hanjiang Zhang

Risk Shifting and Mutual Fund Performance
w14890 Darren J. Kisgen
Philip E. Strahan

Do Regulations Based on Credit Ratings Affect a Firm's Cost of Capital?
w14888 John Whalley
Yufei Yuan

Global Financial Structure and Climate Change
w14887 Sebnem Kalemli-Ozcan
Elias Papaioannou
José Luis Peydró

Financial Regulation, Financial Globalization and the Synchronization of Economic Activity
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
w14868 Bronwyn H. Hall
Business and Financial Method Patents, Innovation, and Policy
w14867 Patrick Bolton
Tano Santos
Jose A. Scheinkman

Outside and Inside Liquidity
w14861 Shai Bernstein
Josh Lerner
Antoinette Schoar

The Investment Strategies of Sovereign Wealth Funds
w14859 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

How Does Simplified Disclosure Affect Individuals' Mutual Fund Choices?
w14843 Geert Bekaert
Campbell R. Harvey
Christian Lundblad

Financial Openness and Productivity
wise09-1 David A. Wise
editor

Developments in the Economics of Aging
w14769 Philippe Aghion
John Van Reenen
Luigi Zingales

Innovation and Institutional Ownership
w14761 Vasiliki Skreta
Laura Veldkamp

Ratings Shopping and Asset Complexity: A Theory of Ratings Inflation
w14757 Lubos Pastor
Robert F. Stambaugh

Are Stocks Really Less Volatile in the Long Run?
w14739 Douglas W. Diamond
Raghuram Rajan

The Credit Crisis: Conjectures about Causes and Remedies
w14735 Reint Gropp
Anil Kashyap

A New Metric for Banking Integration in Europe
w14714 Bronwyn H. Hall
Grid Thoma
Salvatore Torrisi

Financial Patenting in Europe
w14712 Patrick Bolton
Xavier Freixas
Joel Shapiro

The Credit Ratings Game
w14693 Pascaline Dupas
Jonathan Robinson

Savings Constraints and Microenterprise Development: Evidence from a Field Experiment in Kenya
w14649 Gary B. Gorton
Information, Liquidity, and the (Ongoing) Panic of 2007
w14644 Thomas Philippon
Ariell Reshef

Wages and Human Capital in the U.S. Financial Industry: 1909-2006
2008
w14625 Patrick Bajari
Chenghuan Sean Chu
Minjung Park

An Empirical Model of Subprime Mortgage Default From 2000 to 2007
w14623 Josh Lerner
Morten Sørensen
Per Strömberg

Private Equity and Long-Run Investment: The Case of Innovation
w14616 J. Christina Wang
Susanto Basu
John G. Fernald

A General-Equilibrium Asset-Pricing Approach to the Measurement of Nominal and Real Bank Output
w14615 Susanto Basu
Robert Inklaar
J. Christina Wang

The Value of Risk: Measuring the Service Output of U.S. Commercial Banks
w14614 J. Christina Wang
Susanto Basu

Risk Bearing, Implicit Financial Services and Specialization in the Financial Industry
w14612 Markus K. Brunnermeier
Deciphering the Liquidity and Credit Crunch 2007-08
w14609 Zhi Da
Pengjie Gao
Ravi Jagannathan

Informed Trading, Liquidity Provision, and Stock Selection by Mutual Funds
w14576 Edward J. Kane
Rosalind Bennett
Robert Oshinsky

Evidence of Improved Monitoring and Insolvency Resolution after FDICIA
w14574 Zhiguo He
Wei Xiong

Delegated Asset Management, Investment Mandates, and Capital Immobility
w14531 Kalina Manova
Credit Constraints, Heterogeneous Firms, and International Trade
w14525 Thomas J. Brennan
Andrew W. Lo

Impossible Frontiers
w14518 Kimie Harada
Takatoshi Ito

Did Mergers Help Japanese Mega-Banks Avoid Failure? Analysis of the Distance to Default of Banks
w14517 Zhiguo He
Arvind Krishnamurthy

Intermediary Asset Pricing
w14496 Andrew Ang
Vineer Bhansali
Yuhang Xing

Taxes on Tax-Exempt Bonds
w14488 Joshua D. Rauh
Amir Sufi

Capital Structure and Debt Structure
w14476 Alberto Giovannini
Why the European Securities Market is Not Fully Integrated
w14468 Atif Mian
Amir Sufi
Francesco Trebbi

The Political Economy of the U.S. Mortgage Default Crisis
w14465 Amir E. Khandani
Andrew W. Lo

What Happened To The Quants In August 2007?: Evidence from Factors and Transactions Data
w14427 Alexander W. Blocker
Laurence J. Kotlikoff
Stephen A. Ross

The True Cost of Social Security
w14401 Takeo Hoshi
Anil K. Kashyap

Will the U.S. Bank Recapitalization Succeed? Eight Lessons from Japan
w14398 Gary B. Gorton
The Subprime Panic
w14366 Zhiguo He
Arvind Krishnamurthy

A Model of Capital and Crises
w14358 Gary B. Gorton
The Panic of 2007
w14351 Rajnish Mehra
Facundo Piguillem
Edward C. Prescott

Costly Financial Intermediation in Neoclassical Growth Theory
w14347 Raghuram G. Rajan
Rodney Ramcharan

Landed Interests and Financial Underdevelopment in the United States
w14343 Robert Novy-Marx
Joshua D. Rauh

The Intergenerational Transfer of Public Pension Promises
w14332 Raimond Maurer
Olivia S. Mitchell
Ralph Rogalla

Managing Contribution and Capital Market Risk in a Funded Public Defined Benefit Plan: Impact of CVaR Cost Constraints
w14324 Josh Lerner
The Litigation of Financial Innovations
w14280 Rajkamal Iyer
Manju Puri

Understanding Bank Runs: The Importance of Depositor-Bank Relationships and Networks
w14273 Ross Levine
Alexey Levkov
Yona Rubinstein

Racial Discrimination and Competition
w14250 Manju Puri
Rebecca Zarutskie

On the Lifecycle Dynamics of Venture-Capital- and Non-Venture-Capital-Financed Firms
w14232 Lauren Cohen
Andrea Frazzini
Christopher Malloy

Hiring Cheerleaders: Board Appointments of "Independent" Directors
w14222 Julio J. Rotemberg
Liquidity Needs in Economies with Interconnected Financial Obligations
w14219 Robert E. Hall
Susan E. Woodward

The Burden of the Nondiversifiable Risk of Entrepreneurship
w14210 Dwight Jaffee
Howard Kunreuther
Erwann Michel-Kerjan

Long Term Insurance (LTI) for Addressing Catastrophe Risk
w14202 Alberto F. Alesina
Francesca Lotti
Paolo Emilio Mistrulli

Do Women Pay More for Credit? Evidence from Italy
w14195 Steven N. Kaplan
Mark M. Klebanov
Morten Sorensen

Which CEO Characteristics and Abilities Matter?
w14180 Alexander Ljungqvist
Matthew Richardson
Daniel Wolfenzon

The Investment Behavior of Buyout Funds: Theory and Evidence
w14148 Alexander Peter Groh
Oliver Gottschalg

The Opportunity Cost of Capital of US Buyouts
w14144 Joost Driessen
Tse-Chun Lin
Ludovic Phalippou

A New Method to Estimate Risk and Return of Non-Traded Assets from Cash Flows: The Case of Private Equity Funds
w14120 Gary Richardson
Patrick Van Horn

Intensified Regulatory Scrutiny and Bank Distress in New York City During the Great Depression
w14113 Luc Laeven
Ross Levine

Bank Governance, Regulation, and Risk Taking
w14101 Nicola Cetorelli
Linda S. Goldberg

Banking Globalization, Monetary Transmission, and the Lending Channel
w14090 Kris J. Mitchener
Mari Ohnuki

Institutions, Competition, and Capital Market Integration in Japan
w14085 Sharon Katz
Earnings Quality and Ownership Structure: The Role of Private Equity Sponsors
w14083 Christopher J. Mayer
Karen Pence

Subprime Mortgages: What, Where, and to Whom?
w14078 Olivia S. Mitchell
John Piggott
Cagri Kumru

Managing Public Investment Funds: Best Practices and New Challenges
w14068 Nicole M. Boyson
Christof W. Stahel
Rene M. Stulz

Hedge Fund Contagion and Liquidity
w14055 Wolfram J. Horneff
Raimond H. Maurer
Olivia S. Mitchell
Michael Z. Stamos

Asset Allocation and Location over the Life Cycle with Survival-Contingent Payouts
w14049 Enrique G. Mendoza
Marco E. Terrones

An Anatomy Of Credit Booms: Evidence From Macro Aggregates And Micro Data
w14029 James A. Brander
Edward Egan
Thomas F. Hellmann

Government Sponsored versus Private Venture Capital: Canadian Evidence
w13966 Francisco J. Gomes
Laurence J. Kotlikoff
Luis M. Viceira

Optimal Life-Cycle Investing with Flexible Labor Supply: A Welfare Analysis of Life-Cycle Funds
w13936 Atif Mian
Amir Sufi

The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis
w13895 Edward J. Kane
Regulation and Supervision: An Ethical Perspective
w13884 Woodrow T. Johnson
James M. Poterba

Taxes and Mutual Fund Inflows Around Distribution Dates
w13874 Efraim Benmelech
Nittai K. Bergman

Collateral Pricing
w13822 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

Learning in the Credit Card Market
w13802 Evan Gatev
Philip Strahan

Liquidity Risk and Syndicate Structure
w13798 Philip Strahan
Liquidity Production in 21st Century Banking
w13786 Joseph Chen
Samuel Hanson
Harrison Hong
Jeremy C. Stein

Do Hedge Funds Profit From Mutual-Fund Distress?
w13752 Alma Cohen
Asymmetric Learning in Repeated Contracting: An Empirical Study
w13746 David M. Cutler
Amy Finkelstein
Kathleen McGarry

Preference Heterogeneity and Insurance Markets: Explaining a Puzzle of Insurance
w13726 Julia Coronado
Olivia S. Mitchell
Steven A. Sharpe
S. Blake Nesbitt

Footnotes Aren't Enough: The Impact of Pension Accounting on Stock Values
2007
w13708 John R. Graham
Si Li
Jiaping Qiu

Corporate Misreporting and Bank Loan Contracting
w13702 Lucian A. Bebchuk
Zvika Neeman

Investor Protection and Interest Group Politics
w13694 Sumit Agarwal
Chunlin Liu
Nicholas S. Souleles

The Reaction of Consumer Spending and Debt to Tax Rebates -- Evidence from Consumer Credit Data
w13693 Todd Sinai
Nicholas S. Souleles

Net Worth and Housing Equity in Retirement
w13656 James J. Choi
David Laibson
Brigitte C. Madrian

Mental Accounting in Portfolio Choice: Evidence from a Flypaper Effect
w13641 Vladimir Atanasov
Vladimir Ivanov
Kate Litvak

The Impact of Litigation on Venture Capitalist Reputation
w13636 Marco Da Rin
María Fabiana Penas

The Effect of Venture Capital on Innovation Strategies
w13625 Zhi Da
Pengjie Gao
Ravi Jagannathan

When Does a Mutual Fund's Trade Reveal its Skill?
w13597 Charles W. Calomiris
Bank Failures in Theory and History: The Great Depression and Other "Contagious" Events
w13593 Edward J. Kane
Incentive Conflict In Central-Bank Responses to Sectoral Turmoil in Financial Hub Countries
w13560 Thomas Philippon
Financiers vs. Engineers: Should the Financial Sector be Taxed or Subsidized?
w13504 Harrison Hong
Jose A. Scheinkman
Wei Xiong

Advisors and Asset Prices: A Model of the Origins of Bubbles
w13487 Sumit Agarwal
John C. Driscoll
David Laibson

Optimal Mortgage Refinancing: A Closed Form Solution
w13359 Howard C. Kunreuther
Erwann O. Michel-Kerjan

Evaluating The Effectiveness of Terrorism Risk Financing Solutions
w13438 Jeffrey R. Brown
Guaranteed Trouble: The Economic Effects of the Pension Benefit Guaranty Corporation
w13437 Thomas Philippon
Ariell Reshef

Skill Biased Financial Development: Education, Wages and Occupations in the U.S. Financial Sector
w13405 Thomas Philippon
Why Has the U.S. Financial Sector Grown so Much? The Role of Corporate Finance.
w13399 Kaoru Hosono
Koji Sakai
Kotaro Tsuru

Consolidation of Banks in Japan: Causes and Consequences
w13381 James Poterba
Steven Venti
David A. Wise

The Changing Landscape of Pensions in the United States
w13352 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Impact of Employer Matching on Savings Plan Participation under Automatic Enrollment
w13299 Thorsten Beck
Ross Levine
Alexey Levkov

Big Bad Banks? The Impact of U.S. Branch Deregulation on Income Distribution
w13282 Long Chen
Lu Zhang

Neoclassical Factors
w13275 David Card
Michael Ransom

Pension Plan Characteristics and Framing Effects in Employee Savings Behavior
w13270 Steven N. Kaplan
Joshua Rauh

Wall Street and Main Street: What Contributes to the Rise in the Highest Incomes?
w13265 Michelle J. White
Bankruptcy Reform and Credit Cards
w13240 Joshua Rauh
Risk Shifting versus Risk Management: Investment Policy in Corporate Pension Plans
w13218 Robert S. Pindyck
Governance, Issuance Restrictions, And Competition In Payment Card Networks
w13207 Marvin Goodfriend
Bennett T. McCallum

Banking and Interest Rates in Monetary Policy Analysis: A Quantitative Exploration
w13202 Rüdiger Fahlenbrach
René M. Stulz

Managerial Ownership Dynamics and Firm Value
w13191 Sumit Agarwal
John C. Driscoll
Xavier Gabaix
David Laibson

The Age of Reason: Financial Decisions Over the Lifecycle
w13124 Ulrike Malmendier
Devin Shanthikumar

Do Security Analysts Speak in Two Tongues?
w13091 James Poterba
Steven F. Venti
David A. Wise

Rise of 401(k) Plans, Lifetime Earnings, and Wealth at Retirement
w13083 James Poterba
Steven Venti
David A. Wise

New Estimates of the Future Path of 401(k) Assets
w13081 Veronica Cacdac Warnock
Francis E. Warnock

Markets and Housing Finance
w13056 Robert E. Hall
Susan E. Woodward

The Incentives to Start New Companies: Evidence from Venture Capital
w13042 Jonathan B. Berk
Ian Tonks

Return Persistence and Fund Flows in the Worst Performing Mutual Funds
w13005 Hirofumi Uchida
Gregory F.Udell
Wako Watanabe

Bank Size and Lending Relationships in Japan
w12970 Jules H. van Binsbergen
Michael W. Brandt

Optimal Asset Allocation in Asset Liability Management
w12967 Kristopher Gerardi
Harvey S. Rosen
Paul Willen

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market
w12959 Emmanuel Farhi
Mikhail Golosov
Aleh Tsyvinski

A Theory of Liquidity and Regulation of Financial Intermediation
w12942 Wolfram J. Horneff
Raimond H. Maurer
Olivia S. Mitchell
Michael Z. Stamos

Money in Motion: Dynamic Portfolio Choice in Retirement
w12939 Markus K. Brunnermeier
Lasse Heje Pedersen

Market Liquidity and Funding Liquidity
w12938 Mark Carlson
Kris James Mitchener

Branch Banking as a Device for Discipline: Competition and Bank Survivorship During the Great Depression
w12918 Charles W. Calomiris
Doron Nissim

Activity-Based Valuation of Bank Holding Companies
w12897 T. Clifton Green
Narasimhan Jegadeesh
Yue Tang

Gender and Job Performance: Evidence from Wall Street
w12896 Ricardo J. Caballero
Arvind Krishnamurthy

Collective Risk Management in a Flight to Quality Episode
w12874 Boyan Jovanovic
Balàzs Szentes

On the Return to Venture Capital
w12866 Narasimhan Jegadeesh
Woojin Kim

Do Analysts Herd? An Analysis of Recommendations and Market Reactions
w12862 Asli Demirguc-Kunt
Edward J. Kane
Luc Laeven

Determinants of Deposit-Insurance Adoption and Design
w12851 Efraim Benmelech
Tobias J. Moskowitz

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century
w12834 James Poterba
Steven Venti
David A. Wise

The Decline of Defined Benefit Retirement Plans and Asset Flows
w12827 Alexander Muermann
Howard Kunreuther

Self-Protection and Insurance with Interdependencies
2006
w12767 Jonathan E. Alevy
Michael S. Haigh
John List

Information Cascades: Evidence from An Experiment with Financial Market Professionals
w12742 Darius Lakdawalla
George Zanjani

Catastrophe Bonds, Reinsurance, and the Optimal Collateralization of Risk-Transfer
w12720 Sendhil Mullainathan
Joshua Schwartzstein
Andrei Shleifer

Coarse Thinking and Persuasion
w12705 Edward J. Kane
Basel II: A Contracting Perspective
w12695 Hamid Mehran
Rene M. Stulz

The Economics of Conflicts of Interest in Financial Institutions
w12637 Dale F. Gray
Robert C. Merton
Zvi Bodie

A New Framework for Analyzing and Managing Macrofinancial Risks of an Economy
w12626 Jerry Cao
Josh Lerner

The Performance of Reverse Leveraged Buyouts
w12622 Charles Calomiris
Thanavut Pornrojnangkool

Relationship Banking and the Pricing of Financial Services
w12612 Atif Mian
Asim Ijaz Khwaja

Tracing the Impact of Bank Liquidity Shocks: Evidence from an Emerging Market
w12592 Paul Gompers
Anna Kovner
Josh Lerner
David Scharfstein

Skill vs. Luck in Entrepreneurship and Venture Capital: Evidence from Serial Entrepreneurs
w12536 Jeffrey R. Brown
Norma B. Coe
Amy Finkelstein

Medicaid Crowd-Out of Private Long-Term Care Insurance Demand: Evidence from the Health and Retirement Survey
w12503 Howard Kunreuther
Mark Pauly

Rules Rather Than Discretion: Lessons from Hurricane Katrina
w12461 Josef Lakonishok
Louis Chan
Stephen G. Dimmock

Benchmarking Money Manager Performance: Issues and Evidence
w12449 Howard Kunreuther
Reflections on U.S. Disaster Insurance Policy for the 21st Century
w12446 David H. Krantz
Howard Kunreuther

Goals and Plans in Protective Decision Making
w12444 Olivia S. Mitchell
John Piggott
Michael Sherris
Shaun Yow

Financial Innovation for an Aging World
w12443 Gautam Gowrisankaran
John Krainer

The Welfare Consequences of ATM Surcharges: Evidence from a Structural Entry Model
w12401 Alberto Arenas de Mesa
David Bravo
Jere R. Behrman
Olivia S. Mitchell
Petra E. Todd

The Chilean Pension Reform Turns 25: Lessons From the Social Protection Survey
w12359 Yingjin Hila Gan
Christopher Mayer

Agency Conflicts, Asset Substitution, and Securitization
w12348 W. Kip Viscusi
Patricia Born

The Catastrophic Effects of Natural Disasters on Insurance Markets
w12345 Eduardo Levy Yeyati
Liquidity Insurance in a Financially Dollarized Economy
w12343 William O. Brown
Jr.
J. Harold Mulherin
Marc D. Weidenmier

Competing With the NYSE
w12340 Marco Arena
Carmen Reinhart
Francisco Vázquez

The Lending Channel in Emerging Economics: Are Foreign Banks Different?
w12297 Vojislav Maksimovic
Gordon Phillips

The Industry Life Cycle and Acquisitions and Investment: Does Firm Organization Matter?
w12295 Michelle Lowry
Micah S. Officer
G. William Schwert

The Variability of IPO Initial Returns
w12289 Hanming Fang
Michael P. Keane
Dan Silverman

Sources of Advantageous Selection: Evidence from the Medigap Insurance Market
w12252 Ana Carla A. Costa
Joao M.P. De Mello

Judicial Risk and Credit Market Performance: Micro Evidence from Brazilian Payroll Loans
w12234 Evan Gatev
Til Schuermann
Philip E. Strahan

Managing Bank Liquidity Risk: How Deposit-Loan Synergies Vary with Market Conditions
w12170 Edward J. Kane
Inadequacy of Nation-Based and VaR-Based Safety Nets in the European Union
w12151 Ravi Jagannathan
Ann E. Sherman

Why Do IPO Auctions Fail?
w12165 Robert Engle
Robert Ferstenberg

Execution Risk
w12112 Amy Finkelstein
James Poterba

Testing for Asymmetric Information Using 'Unused Observables' in Insurance Markets: Evidence from the U.K. Annuity Market
w12086 Patricia Born
W. Kip Viscusi
Tom Baker

The Effects of Tort Reform on Medical Malpractice Insurers' Ultimate Losses
w12074 Kris James Mitchener
Are Prudential Supervision and Regulation Pillars of Financial Stability? Evidence from the Great Depression
w12069 Howard Kunreuther
Erwann Michel-Kerjan

Looking Beyond TRIA: A Clinical Examination of Potential Terrorism Loss Sharing
w12009 John Beshears
James J. Choi
David Laibson
Brigitte C. Madrian

The Importance of Default Options for Retirement Savings Outcomes: Evidence from the United States
w11984 Leora Friedberg
Anthony Webb

Life is Cheap: Using Mortality Bonds to Hedge Aggregate Mortality Risk
w11983 Elena Loutskina
Philip E. Strahan

Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates
w11979 James Choi
David Laibson
Brigitte Madrian

Reducing the Complexity Costs of 401(k) Participation Through Quick Enrollment(TM)
w11974 James Poterba
Joshua Rauh
Steven Venti
David Wise

Lifecycle Asset Allocation Strategies and the Distribution of 401(k) Retirement Wealth
w11964 Jeffrey Brown
James Poterba

Household Ownership of Variable Annuities
w11914 A. Burak Güner
Ulrike Malmendier
Geoffrey Tate

Financial Expertise of Directors
2005
w11891 Frederic Mishkin
Is Financial Globalization Beneficial?
w11865 Edward J. Kane
Confronting Divergent Interests in Cross-Country Regulatory Arrangements
w11861 Luca Benzoni
Pierre Collin-Dufresne
Robert S. Goldstein

Can Standard Preferences Explain the Prices of out of the Money S&P 500 Put Options
w11860 Edward J. Kane
Can the European Community Afford to Neglect the Need for More Accountable Safety-Net Management?
w11851 Xavier Gabaix
Arvind Krishnamurthy
Olivier Vigneron

Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
w11830 Stephen G. Cecchetti
Lianfi Li

Do Capital Adequacy Requirements Matter for Monetary Policy?
w11814 Frederic S. Mishkin
How Big a Problem is Too Big to Fail?
w11783 Farley Grubb
The U.S. Constitution and Monetary Powers: An Analysis of the 1787 Constitutional Convention and Constitutional Transformation of the Nation's Monetary System Emerged
w11766 Marcin Kacperczyk
Clemens Sialm
Lu Zheng

Unobserved Actions of Mutual Funds
w11747 Henry Hongbo Jin
Olivia S. Mitchell
John Piggott

Socially Responsible Investment in Japanese Pensions
w11741 Guenter Franke
Jan Pieter Krahnen

Default Risk Sharing Between Banks and Markets: The Contribution of Collateralized Debt Obligations
w11735 David K. Musto
Nicholas S. Souleles

A Portfolio View of Consumer Credit
w11734 Howard Bodenhorn
Usury Ceilings, Relationships and Bank Lending Behavior: Evidence from Nineteenth Century
w11728 Raghuram G. Rajan
Has Financial Development Made the World Riskier?
w11726 Olivia S. Mitchell
Stephen P. Utkus
Tongxuan (Stella) Yang

Turning Workers into Savers? Incentives, Liquidity, and Choice in 401(k) Plan Design
w11698 Philipp Hartmann
Stefan Straetmans
Casper G. De Vries

Banking System Stability: A Cross-Atlantic Perspective
w11697 Kee-Hong Bae
Rene M. Stulz
Hongping Tan

Do Local Analysts Know More? A Cross-Country Study of the Performance of Local Analysts and Foreign Analysts
w11695 Robert Cull
Lance E. Davis
Naomi R. Lamoreaux
Jean-Laurent Rosenthal

Historical Financing of Small- and Medium-Sized Enterprises
w11666 Loriana Pelizzon
Stephen Schaefer

Pillar 1 vs. Pillar 2 Under Risk Management
w11624 Zsuzsanna Fluck
Kedran Garrison
Stewart C. Myers

Venture Capital Contracting and Syndication: An Experiment in Computational Corporate Finance
w11608 James O'Brien
Jeremy Berkowitz

Estimating Bank Trading Risk: A Factor Model Approach
w11579 Bernadette A. Minton
René Stulz
Rohan Williamson

How Much Do Banks Use Credit Derivatives to Reduce Risk?
w11556 Lance E. Davis
Larry Neal
Eugene N. White

The Highest Price Ever: The Great NYSE Seat Sale of 1928-1929 and Capacity Constraints
w11526 Andrea Frazzini
Owen A. Lamont

Dumb Money: Mutual Fund Flows and the Cross-Section of Stock Returns
w11500 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Concentration and Fragility: Impact and Mechanics
w11499 Luc Laeven
Ross Levine

Is There a Diversification Discount in Financial Conglomerates?
w11498 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Supervision and Corruption in Lending
w11493 M. Hashem Pesaran
Til Schuermann
Björn-Jakob Treutler

Global Business Cycles and Credit Risk
w11478 Michael Greenstone
Paul Oyer
Annette Vissing-Jorgensen

Mandated Disclosure, Stock Returns, and the 1964 Securities Acts Amendments
w11461 Alma Cohen
Liran Einav

Estimating Risk Preferences from Deductible Choice
w11459 Evgeny Lyandres
Le Sun
Lu Zhang

Investment-Based Underperformance Following Seasoned Equity Offerings
w11442 Mark Carey
Rene M. Stulz

The Risks of Financial Institutions
w11385 Paul Gompers
Anna Kovner
Josh Lerner
David Scharfstein

Venture Capital Investment Cycles: The Impact of Public Markets
w11370 Menzie D. Chinn
Hiro Ito

What Matters for Financial Development? Capital Controls, Institutions, and Interactions
w11365 Linda S. Goldberg
The International Exposure of U.S. Banks
w11363 Gary Gorton
Ping He

Bank Credit Cycles
w11357 Joshua D. Coval
Erik Stafford

Asset Fire Sales (and Purchases) in Equity Markets
w11351 Charles W. Calomiris
Thanavut Pornrojnangkool

Monopoly-Creating Bank Consolidation? The Merger of Fleet and BankBoston
w11350 Antonio Geldson de Carvalho
Charles W. Calomiris
Joao Amaro de Matos

Venture Capital as Human Resource Management
w11340 Geert Bekaert
Seonghoon Cho
Antonio Moreno

New-Keynesian Macroeconomics and the Term Structure
w11333 Charles W. Calomiris
Donna M. Hitscherich

Banker Fees and Acquisition Premia for Targets in Cash Tender Offers: Challenges to the Popular Wisdom on Banker Conflicts
w11294 Armando Gomes
Gordon Phillips

Why Do Public Firms Issue Private and Public Securities?
w11291 Mark Carlson
Kris James Mitchener

Branch Banking, Bank Competition, and Financial Stability
w11271 Ivica Dus
Raimond Maurer
Olivia S. Mitchell

Betting on Death and Capital Markets in Retirement: A Shortfall Risk Analysis of Life Annuities
w11256 Kenneth A. Carow
Edward J. Kane
Rajesh P. Narayanan

Winners and Losers from Enacting the Financial Modernization Statute
w11190 Gary Gorton
Nicholas Souleles

Special Purpose Vehicles and Securitization
w11136 Josh Lerner
Antoinette Schoar
Wan Wong

Smart Institutions, Foolish Choices? The Limited Partner Performance Puzzle
w11103 Patrick de Fontnouvelle
John Jordan
Eric Rosengren

Implications of Alternative Operational Risk Modeling Techniques
w11074 Gabriel D. Carroll
James J. Choi
David Laibson
Brigitte Madrian
Andrew Metrick

Optimal Defaults and Active Decisions
w11052 Jun Qian
Philip E. Strahan

How Law and Institutions Shape Financial Contracts: The Case of Bank Loans
w11039 Amy Finkelstein
Kathleen McGarry
Amir Sufi

Dynamic Inefficiencies in Insurance Markets: Evidence from long-term care insurance
w11037 Philippe Jorion
Bank Trading Risk and Systemic Risk
2004
w11011 David J. Brophy
Paige P. Ouimet
Clemens Sialm

PIPE Dreams? The Performance of Companies Issuing Equity Privately
w10983 Thorsten Beck
Asli Demirguc-Kunt
Luc Laeven
Ross Levine

Finance, Firm Size, and Growth
w10982 Philip E. Strahan
Evan Gatev
Til Schuermann

How do Banks Manage Liquidity Risk? Evidence from Equity and Deposit Markets in the Fall of 1998
w10978 Mihir A. Desai
Alexander Dyck
Luigi Zingales

Theft and Taxes
w10951 Charles W. Calomiris
Joseph R. Mason

Resolving the Puzzle of the Underissuance of National Bank Notes
w10908 Stephen G. Cecchetti
Stefan Krause

Deposit Insurance and External Finance
w10870 Howard Kunreuther
Erwann Michel-Kerjan

Policy Watch: Challenges for Terrorism Risk Insurance in the United States
w10845 Raghuram G. Rajan
Dollar Shortages and Crises
w10832 Nicola Cetorelli
Philip E. Strahan

Finance as a Barrier to Entry: Bank Competition and Industry Structure in Local U.S. Markets
w10812 Ulrike Malmendier
Devin Shanthikumar

Are Investors Naive About Incentives?
w10782 Jeffrey R. Brown
Amy Finkelstein

Supply or Demand: Why is the Market for Long-Term Care Insurance So Small?
w10770 Marcin Kacperczyk
Clemens Sialm
Lu Zheng

On the Industry Concentration of Actively Managed Equity Mutual Funds
w10685 Malcolm Baker
Lubomir Litov
Jessica A. Wachter
Jeffrey Wurgler

Can Mutual Fund Managers Pick Stocks? Evidence from the Trades Prior to Earnings Announcements
w10650 Li Jin
Robert Merton
Zvi Bobie

Do a Firm's Equity Returns Reflect the Risk of Its Pension Plan?
w10620 Robert C. Merton
Zvi Bodie

The Design of Financial Systems: Towards a Synthesis of Function and Structure
w10571 Patrick Bolton
Xavier Freixas
Joel Shapiro

Conflicts of Interest, Information Provision, and Competition in Banking
w10535 Thomas Hellman
Laura Lindsey
Manju Puri

Building Relationships Early: Banks in Venture Capital
w10491 Steven Drucker
Manju Puri

The Tying of Lending and Equity Underwriting
w10479 Howard Bodenhorn
Bank Chartering and Political Corruption in Antebellum New York: Free Banking as Reform
w10464 Mark V. Pauly
Olivia Mitchell
Yuhui Zeng

Death Spiral or Euthanasia? The Demise of Generous Group Health Insurance Coverage
w10417 Thorsten Beck
Ross Levine

Legal Institutions and Financial Development
w10388 Jeffrey R. Brown
J. David Cummins
Christopher M. Lewis
Ran Wei

An Empirical Analysis of the Economic Impact of Federal Terrorism Reinsurance
w10348 Josh Lerner
Antoinette Schoar

Transaction Structures in the Developing World
w10340 Olivia S. Mitchell
John Piggott

Unlocking Housing Equity in Japan
w10327 Dimitri Vayanos
Flight to Quality, Flight to Liquidity, and the Pricing of Risk
w10259 Jeremy C. Stein
Why Are Most Funds Open-End? Competition and the Limits of Arbitrage
w10223 Josh Lerner
The New New Financial Thing: The Sources of Innovation Before and After State Street
w10202 Susan E. Woodward
Robert E. Hall

Benchmarking the Returns to Venture
2003
w10184 Kenneth A. Froot
Risk Management, Capital Budgeting and Capital Structure Policy for Insurers and Reinsurers
w10179 Howard Kunreuther
Erwann Michel-Kerjan
Beverly Porter

Assessing, Managing, and Financing Extreme Events: Dealing with Terrorism
w10158 Gerard Caprio
Luc Laeven
Ross Levine

Governance and Bank Valuation
w10135 Dirk Krueger
Harald Uhlig

Competitive Risk Sharing Contracts with One-Sided Commitment
w10097 Steven N. Kaplan
Frederic Martel
Per Stromberg

How Do Legal Differences and Learning Affect Financial Contracts?
w10071 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Shortages and Banking Crises
w10070 Douglas W. Diamond
Raghuram G. Rajan

Money in a Theory of Banking
w9975 David McCarthy
Olivia S. Mitchell

International Adverse Selection in Life Insurance and Annuities
w9957 Amy Finkelstein
Kathleen McGarry

Private Information and its Effect on Market Equilibrium: New Evidence from Long-Term Care Insurance
w9956 Evan Gatev
Philip E. Strahan

Banks' Advantage in Hedging Liquidity Risk: Theory and Evidence from the Commercial Paper Market
w9921 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Bank Concentration and Crises
w9919 Mark V. Pauly
Yuhui Zeng

Adverse Selection and the Challenges to Stand-Alone Prescription Drug Insurance
w9890 Asli Demirguc-Kunt
Luc Laeven
Ross Levine

Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation
w9888 Bradley Herring
Mark Pauly

Incentive-Compatible Guaranteed Renewable Health Insurance
w9883 Elizabeth W. Croft
Barbara J. Spencer

Fees and Surcharging in automatic teller machine networks: Non-bank ATM providers versus large banks
w10623 Kenneth A. Carow
Edward J. Kane
Rajesh Narayanan

How Have Borrowers Fared in Banking Mega-Mergers?
w9816 Paul Gompers
Josh Lerner
David Scharfstein

Entrepreneurial Spawning: Public Corporations and the Genesis of New Ventures, 1986-1999
w9807 Steven Kaplan
Antoinette Schoar

Private Equity Performance: Returns, Persistence and Capital
w9710 Donald Morgan
Philip Strahan

Foreign Bank Entry and Business Volatility: Evidence from U.S. States and Other Countries
w9704 Donald Morgan
Bertrand Rime
Philip Strahan

Bank Integration and State Business Cycles
w9645 Colin Mayer
Koen Schoors
Yishay Yafeh

Sources of Funds and Investment Activities of Venture Capital Funds: Evidence from Germany, Israel, Japan and the UK
w9643 Joe Peek
Eric S. Rosengren

Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan
w9642 Yasushi Hamao
Jianping Mei
Yexiao Xu

Idiosyncratic Risk and the Creative Destruction in Japan
w9624 Charles Calomiris
Joseph R. Mason

How to Restructure Failed Banking Systems: Lessons from the U.S. in the 1930's and Japan in the 1990's
w9602 Alma Cohen
Rajeev Dehejia

The Effect of Automobile Insurance and Accident Liability Laws in Traffic Fatalities
w9595 Luigi Zingales
Raghuram G. Rajan

Banks and Markets: The Changing Character of European Finance
w9582 Raymond Fisman
Inessa Love

Financial Dependence and Growth Revisited
w9575 Youngjae Lim
Sources of Corporate Financing and Economic Crisis in Korea: A Micro-evidence
w9583 Raymond Fisman
Inessa Love

Financial Development and the Composition of Industrial Growth
2002
w9388 Eduardo Jallath-Coria
Tridas Mukhopadhyay
Amir Yaron

How Well Do Banks Manage Their Reserves?
w9385 Takero Doi
Takeo Hoshi

Paying for the FILP
w9384 Anil K. Kashyap
Sorting Out Japan's Financial Crisis
w9379 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Law and Finance: Why Does Legal Origin Matter?
w9368 Mitsuhiro Fukao
Financial Sector Profitability and Double-Gearing
w9335 Steven Shavell
Minimum Asset Requirements
w9323 James R. Barth
Gerard Caprio
Jr.
Ross Levine

Bank Regulation and Supervision: What Works Best?
w9322 Armen Hovakimian
Edward J. Kane
Luc Laeven

How Country and Safety-Net Characteristics Affect Bank Risk-Shifting
w9299 Mark V. Pauly
Bradley Herring
David Song

Health Insurance on the Internet and the Economics of Search
w9271 Jeffrey R. Brown
Randall S. Kroszner
Brian H. Jenn

Federal Terrorism Risk Insurance
w9268 Daniel Bergstresser
James Poterba

Asset Allocation and Asset Location: Household Evidence from the Survey of Consumer Finances
w9251 Antonio E. Bernardo
Ivo Welch

Financial Market Runs
w9250 Olivia S. Mitchell
Stephen P. Utkus

The Role of Company Stock in Defined Contribution Plans
w9195 Marie-Eve Lachance
Olivia S. Mitchell

Understanding Individual Account Guarantees
w9158 Gary Gorton
Lixin Huang

Liquidity, Efficiency and Bank Bailouts
w9146 Josh Lerner
Antoinetter Schoar

The Illiquidity Puzzle: Theory and Evidence from Private Equity
w9137 Gary Gorton
Lixin Huang

Banking Panics and the Origin of Central Banking
w9102 Gary Gorton
Lixin Huang

Bank Panics and the Endogeneity of Central Banking
w9092 Olivia S. Mitchell
David McCarthy

Annuities for an Ageing World
w9089 Thorsten Beck
Asli Demirguc-Kunt
Ross Levine

Law, Endowment, and Finance
w9070 Reena Aggarwal
Nagpurnanand R. Prabhala
Manju Puri

Institutional Allocation In Initial Public Offerings: Empirical Evidence
w8960 Raymond Fisman
Inessa Love

Trade Credit, Financial Intermediary Development and Industry Growth
w8928 Gary Gorton
Andrew Winton

Financial Intermediation
w8923 Luigi Guiso
Paola Sapienza
Luigi Zingales

Does Local Financial Development Matter?
w8891 Robert L. Clark
Olivia S. Mitchell

Strengthening Employment-Based Pensions in Japan
w8877 Mark J. Garmaise
Tobias J. Moskowitz

Confronting Information Asymmetries: Evidence from Real Estate Markets
w8874 Mark J. Garmaise
Tobias J. Moskowitz

Informal Financial Networks: Theory and Evidence
w8805 Jay Ritter
Ivo Welch

A Review of IPO Activity, Pricing, and Allocations
w8782 Ivo Welch
Columbus' Egg: The Real Determinant of Capital Structure
w8781 James M. Poterba
John B. Shoven

Exchange Traded Funds: A New Investment Option for Taxable Investors
w8764 Steven N. Kaplan
Per Stromberg

Characteristics, Contracts, and Actions: Evidence from Venture Capitalist Analyses
w8731 Marie-Eve Lachance
Olivia S. Mitchell

Guaranteeing Defined Contribution Pensions: The Option to Buy-Back a Defined Benefit Promise
2001
w8653 Mary Margaret Myers
James M. Poterba
Douglas A. Shackelford

Copycat Funds: Information Disclosure Regulation and the Returns to Active Management in the Mutual Fund Industry
w8652 Arturo Bris
Ivo Welch

The Optimal Concentration of Creditors
h0137 Howard Bodenhorn
Short-Term Loans and Long-Term Relationships: Relationship Lending in Early America
w8594 Kenneth A. Carow
Edward J. Kane

Event-Study Evidence of the Value of Relaxing Longstanding Regulatory Restraints on Banks, 1970-2000
w8586 Michelle Lowry
G. William Schwert

Biases in the IPO Pricing Process
w8567 Olivia S. Mitchell
Developments in Decumulation: The Role of Annuity Products in Financing Retirement
w8544 B. Douglas Bernheim
Katherine Grace Carman
Jagadeesh Gokhale
Laurence J. Kotlikoff

The Mismatch Between Life Insurance Holdings and Financial Vulnerabilities: Evidence from the Survey of Consumer Finances
w8505 Paul A. Gompers
Josh Lerner

The Really Long-Run Performance of Initial Public Offerings: The Pre-NASDAQ Evidence
w8493 Edward J. Kane
Asli Demirguc-Kunt

Deposit Insurance Around the Globe: Where Does it Work?
w8399 Edward J. Kane
Using Deferred Compensation to Strengthen the Ethicsof Financial Regulation
w8386 Stijn Claessens
Daniela Klingebiel
Luc Laeven

Financial Restructuring in Banking and Corporate Sector Crises: What Policies to Pursue?
w8329 Marianne Baxter
Social Security as a Financial Asset: Gender-Specific Risks and Returns
w8224 Edward J. Kane
Financial Safety Nets: Reconstructing and Modeling a Policymaking Metaphor
w8202 Steven N. Kaplan
Per Stromberg

Venture Capitalists As Principals: Contracting, Screening, and Monitoring
w8173 Stephen J. Brown
William N. Goetzmann

Hedge Funds With Style
w8091 Suzanne Doyle
Olivia S. Mitchell
John Piggott

Annuity Values in Defined Contribution Retirement Systems: The Case of Singapore and Australia
w8087 Frederic S. Mishkin
Financial Policies and the Prevention of Financial Crises in Emerging Market Countries
2000
w8045 Amy Finkelstein
James Poterba

Adverse Selection in Insurance Markets: Policyholder Evidence from the U.K. Annuity Market
w8008 Lee J. Alston
Andres Gallo

Evolution and Revolution in the Argentine Banking System under Convertibility: The Roles of Crises and Path Dependence
w8003 Edward J. Kane
Tara Rice

Bank Runs and Banking Policies: Lessons for African Policymakers
w7997 Takatoshi Ito
Kimie Harada

Japan Premium and Stock Prices: Two Mirrors of Japanese Banking Crises
w7976 Christian Keuschnigg
Soren Bo Nielsen

Tax Policy, Venture Capital, and Entrepreneurship
w7935 Michelle Lowry
G. William Schwert

IPO Market Cycles: Bubbles or Sequential Learning?
w7926 Frederic S. Mishkin
Prudential Supervision: Why Is It Important and What are the Issues?
w7919 Charles W. Calomiris
Joseph R. Mason

Causes of U.S. Bank Distress During the Depression
w7877 Joshua S. Gans
Scott Stern

When Does Funding Research by Smaller Firms Bear Fruit?: Evidence from the SBIR Program
w7845 Michael Klein
Joe Peek
Eric Rosengren

Troubled Banks, Impaired Foreign Direct Investment: The Role of Relative Access to Credit
w7786 Ann E. Sherman
Sheridan Titman

Building the IPO Order Book: Underpricing and Participation Limits With Costly Information
w7764 Douglas W. Diamond
Raghuram G. Rajan

Banks, Short Term Debt and Financial Crises: Theory, Policy Implications and Applications
w7705 Jeremy C. Stein
Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms
w7701 Michael D. Bordo
Anna J. Schwartz

Measuring Real Economic Effects of Bailouts: Historical Perspectives on How Countries in Financial Distress Have Fared With and Without Bailouts
w7689 Allen N. Berger
Margaret K. Kyle
Joseph M. Scalise

Did U.S. Bank Supervisors Get Tougher During the Credit Crunch? Did They Get Easier During the Banking Boom? Did It Matter to Bank Lending?
w7685 Mitchell A. Petersen
Raghuram G. Rajan

Does Distance Still Matter? The Information Revolution in Small Business Lending
w7669 John B. Shoven
Joel Dickson
Clemens Sialm

Tax Externalities of Equity Mutual Funds
w7660 Steven N. Kaplan
Per Stromberg

Financial Contracting Theory Meets the Real World: An Empirical Analysis of Venture Capital Contracts
w7620 Rafael La Porta
Florencio Lopezde-Silanes
Andrei Shleifer

Government Ownership of Banks
w7563 Luigi Guiso
Paola Sapienza
Luigi Zingales

The Role of Social Capital in Financial Development
w7514 Edward J. Kane
Capital Movements, Banking Insolvency, and Silent Runs in the Asian Financial Crisis
1999
w7430 Douglas W. Diamond
Raghuram G. Rajan

Liquidity Risk, Liquidity Creation and Financial Fragility: A Theory of Banking
w7431 Douglas W. Diamond
Raghuram G. Rajan

A Theory of Bank Capital
w7428 Rafael La Porta
Florencio Lopez-deSilanes
Andrei Shleifer
Robert W. Vishny

Investor Protection: Origins, Consequences, and Reform
w7381 Olivia Mitchell
New Trends in Pension Benefit and Retirement Provisions
w7372 B. Douglas Bernheim
Lorenzo Forni
Jagadeesh Gokhale
Laurence J. Kotlikoff

The Adequacy of Life Insurance: Evidence from the Health and Retirement Survey
w7360 Douglas Holtz-Eakin
John W. Phillips
Harvey S. Rosen

Estate Taxes, Life Insurance, and Small Business
w7319 Randall S. Kroszner
Philip E. Strahan

Bankers on Boards: Monitoring, Conflicts of Interest, and Lender Liability
w7287 Kenneth A. Froot
The Evolving Market for Catastrophic Event Risk
w7286 Kenneth A. Froot
The Market for Catastrophe Risk: A Clinical Examination
w7253 Michael Hutchison
Kathleen McDill

Are All Banking Crises Alike? The Japanese Experience in International Comparison
w7250 Takeo Hoshi
Anil Kashyap

The Japanese Banking Crisis: Where Did It Come From and How Will It End?
w7215 Louis K.C. Chan
Hsiu-Lang Chen
Josef Lakonishok

On Mutual Fund Investment Styles
w7192 John B. Shoven
Clemens Sialm

Asset Location in Tax-Deferred and Conventional Savings Accounts
w7187 Eugene N. White
California Banking in the Nineteenth Century: The Art and Method of the Bank of A. Levy
w7156 Edward J. Kane
How Offshore Financial Competition Disciplines Exit Resistence by Incentive-Conflicted Bank Regulators
w7110 Roger H. Gordon
Wei Li

Government as a Discriminating Monopolist in the Financial Market: The Case of China
w6655 Frederic S. Mishkin
Financial Consolidation: Dangers and Opportunities
w6918 James M. Poterba
Mark J. Warshawsky

The Costs of Annuitizing Retirement Payouts from Individual Accounts
w6913 Leslie A. Jeng
Andrew Metrick
Richard Zeckhauser

The Profits to Insider Trading: A Performance-Evaluation Perspective
w6906 Paul A. Gompers
Josh Lerner

What Drives Venture Capital Fundraising?
w6892 Fredric S. Mishkin
Philip E. Strahan

What Will Technology Do to Financial Structure?
1998
w6823 Edward J. Kane
Kimberly DeTrask

Covering Up Trading Losses: Opportunity-Cost Accounting as an Internal Control Mechanism
w6730 Takatoshi Ito
Yuri Nagatake Sasaki

Impacts of the Basle Capital Standard on Japanese Banks' Behavior
w6723 Paul A. Gompers
Andrew Metrick

Institutional Investors and Equity Prices
w6649 Charles W. Calormiris
Berry Wilson

Bank Capital and Portfolio Management: The 1930's Capital Crunch and Scramble to Shed Risk
w6637 Randall S. Kroszner
Philip E. Strahan

What Drives Deregulation? Economics and Politics of the Relaxation of Bank Branching Restrictions
w6633 Edward J. Kane
Capital Movements, Asset Values, and Banking Policy in Globalized Markets
w6552 Robert J. Shiller
Allan N. Weiss

Moral Hazard in Home Equity Conversion
w6505 David Bates
Roger Craine

Valuing the Futures Market Clearinghouse's Default Exposure During the 1987 Crash
w6475 Jeffrey I. Bernstein
Total Factor Productivity Growth in the Canadian Life Insurance Industry: 1979-1989
w6451 Edward J. Kane
Berry K. Wilson

A Contracting-Theory Interpretation of the Origins of Federal Deposit Insurance
w6394 Judith Chevalier
Glenn Ellison

Career Concerns of Mutual Fund Managers
1997
w6257 Andrew W. Lo
A. Craig MacKinlay
June Zhang

Econometric Models of Limit-Order Executions
w6240 James F. Moore
Olivia S. Mitchell

Projected Retirement Wealth and Savings Adequacy in the Health and Retirement Study
w6063 Eugene N. White
The Legacy of Deposit Insurance: The Growth, Spread, and Cost of Insuring Financial Intermediaries
w6015 Stephen G. Cecchetti
Understanding the Great Depression: Lessons for Current Policy
w6001 James M. Poterba
The History of Annuities in the United States
w5909 Stephen J. Brown
William N. Goetzmann
Roger G. Ibbotson

Offshore Hedge Funds: Survival and Performance 1989-1995
w5902 David F. Bradford
Kyle D. Logue

The Influence of Income Tax Rules on Insurance Reserves
1996
w5852 Judith Chevalier
Glenn Ellison

Are Some Mutual Funds Managers Better Than Others? Cross-Sectional Patterns in Behavior and Performance
w5849 Frederic S. Mishkin
Bank Consolidation: A Central Banker's Perspective
w5848 Berry K. Wilson
Edward J. Kane

The Demise of Double Liability as an Optimal Contract for Large-Bank Stockholders
w5830 Jon A. Christopherson
Wayne E. Ferson
Debra A. Glassman

Conditioning Manager Alphas on Economic Information: Another Look at the Persistence of Performance
w5799 Malcolm Edey
John Simon

Australia's Retirement Income System: Implications for Saving and Capital Markets
w5711 Armen Hovakimian
Edward J. Kane

Risk-Shifting by Federally Insured Commercial Banks
w5669 John Cawley
Tomas Philipson

An Empirical Examination of Information Barriers to Trade in Insurance
w5610 John Y. Campbell
Consumption and the Stock Market: Interpreting International Experience
w5602 Mitchell A. Petersen
Raghuram G. Rajan

Trade Credit: Theories and Evidence
hend96-1 Patric Hendershott
Public Policy and the Housing Market
w5600 Frederic S. Mishkin
Understanding Financial Crises: A Developing Country Perspective
w5453 Gary Gorton
Frank A. Schmid

Universal Banking and the Performance of German Firms
w5442 Charles W. Calomiris
Charles M. Kahn

The Efficiency of Self-Regulated Payments Systems: Learning From the Suffolk System
1995
w5275 Susan J. Suponcic
Sharon Tennyson

Rate Regulation and the Industrial Organization of Automobile Insurance
w5245 Dwight Jaffee
Thomas Russell

The Causes and Consequences of Rate Regulation in the Auto Insurance Industry
w5244 Gary Gorton
Andrew Winton

Bank Capital Regulation in General Equilibrium
w5210 Nicholas Economides
R. Glenn Hubbard
Darius Palia

The Political Economy of Branching Restrictions and Deposit Insurance: A Model of Monopolistic Competition among Small and Large Banks
w5206 James Bohn
Brian J. Hall

Property and Casualty Solvency Funds as a Tax and Social Insurance System
w5143 Stewart C. Myers
Raghuram G. Rajan

The Paradox of Liquidity
w5100 Gary Gorton
Richard Rosen

Banks and Derivatives
w5078 Karl E. Case
Robert J. Shiller
Allan N. Weiss

Mortgage Default Risk and Real Estate Prices: The Use of Index-Based Futures and Options in Real Estate
t0179 Charles Goodhart
Takatoshi Ito
Richard Payne

One Day in June, 1994: A Study of the Working of Reuters 2000-2 Electronic Foreign Exchange Trading System
w4993 Franklin R. Edwards
Frederic S. Mishkin

The Decline of Traditional Banking: Implications for Financial Stabilityand Regulatory Policy
1994
w4954 Edward L. Glaeser
Jose A. Scheinkman

Neither a Borrower nor a Lender Be: An Economic Analysis of Interest Restrictions and Usury Laws
h0064 Shawn E. Kantor
A Prelude to the Welfare State: Compulsory State Insurance and Workers' Compensation in Minnesota, Ohio, and Washington, 1911-1919
w4921 Mitchell A. Petersen
Raghuram G. Rajan

The Effect of Credit Market Competition on Lending Relationships
w4890 John R. Graham
Campbell R. Harvey

Market Timing Ability and Volatility Implied in Investment Newletters' Asset Allocation Recommendations
w4858 James Dow
Gary Gorton

Noise Trading, Delegated Portfolio Management, and Economic Welfare
w4830 Robert J. Shiller
Allan N. Weiss

Home Equity Insurance
w4701 Edward J. Kane
Min-Teh Yu

How Much Did Capital Forbearance Add to the Cost of the S&L Insurance Mess
w4665 Sylvester J. Schieber
John B. Shoven

The Consequences of Population Aging on Private Pension Fund Saving and Asset Markets
w4648 Edward J. Kane
Robert Hendershott

"The Federal Deposit Insurance Fund That Didn't Put A Bite on U.S. Tax Payers"
1993
w4546 Michael D. Bordo
Hugh Rockoff
Angela Redish

A Comparison of the United States and Canadian Banking Systems in the Twentieth Century: Stability vs. Efficiency?
w4501 Leslie E. Papke
Mitchell Petersen
James M. Poterba

Did 401(k) Plans Replace Other Employer Provided Pensions?
w4440 Patric H. Hendershott
William R. Schultz

Equity and Nonequity Determinants of FHA Single-Family Mortgage Foreclosures in the 1980s
w4421 Takeo Hoshi
Anil Kashyap
David Scharfstein

The Choice Between Public and Private Debt: An Analysis of Post-Deregulation Corporate Financing in Japan
w4408 Charles W. Calomiris
Corporate-Finance Benefits from Universal Banking: Germany and the United States, 1870-1914
w4404 John H. Boyd
Mark Gertler

U.S. Commercial Banking: Trends, Cycles, and Policy
w4400 Gary Gorton
Reputation Formation in Early Bank Debt Markets
w4391 James M. Poterba
Steven F. Venti
David A. Wise

Do 401(k) Contributions Crowd Out Other Persoanl Saving?
w4340 Richard M. Levich
Lee R. Thomas

Internationally Diversified Bond Portfolios: The Merits of Active Currency Risk Management
w4273 Gary Gorton
James A. Kahn

The Design of Bank Loan Contracts, Collateral, and Renegotiation
1992
w4247 Gary Gorton
Richard Rosen

Corporate Control, Portfolio Choice, and the Decline of Banking
w3979 Jeffrey I. Bernstein
Information Spillovers, Margins, Scale and Scope: With an Application to Canadian Life Insurance
1991
w3846 Josef Lakonishok
Andrei Shleifer
Robert W. Vishny

Do Institutional Investors Destabilize Stock Prices? Evidence on Herding and Feedback Trading
w3770 Patric H. Hendershott
An Altered U.S. Housing Finance System: Implications for Housing
w3765 Alan J. Auerbach
Laurence Kotlikoff

Life Insurance Inadequacy - Evidence From a Sample of Older Widows
1971
hemp71-1 George H. Hempel
The Postwar Quality of State and Local Debt
1970
herz70-1 John P. Herzog and James S. Earley
Home Mortgage Delinquency and Foreclosure
1962
wojn62-1 Albert M. Wojnilower
The Quality of Bank Loans: A Study of Bank Examination Records
1958
hick58-1 W. Braddock Hickman
Corporate Bond Quality and Investor Experience
1952
hick52-1 W. Braddock Hickman
Trends and Cycles in Corporate Bond Financing
1951
harr51-1 C. Lowell Harriss
History and Policies of the Home Owners' Loan Corporation
1949
higg49-1 Benjamin H. Higgins
Lombard Street in War and Reconstruction
1945
whit45-1 Charles R. Whittlesey
Bank Liquidity and the War
1943
whit43-1 Charles R. Whittlesey
The Banking System and War Finance
1942
habe42-1 Gottfried Haberler
Consumer Instalment Credit and Economic Fluctuations
1940
holt40-1 Duncan McC. Holthausen
Malcolm L. Merriam
Rolf Nugent

The Volume of Consumer Instalment Credit, 1929-1938
holt40-2 Duncan McC. Holthausen
Malcolm L. Merriam
Rolf Nugent

The Volume of Consumer Instalment Credit, 1929-38

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