NBER Papers on Working Group on Risks of Financial Institutions

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2022
w29938 Marco Del Angel
Gary Richardson

Independent Regulators and Financial Stability: Evidence from Gubernatorial Campaigns and a Progressive Era Policy Experiment
w29908 Kilian Huber
Estimating General Equilibrium Spillovers of Large-Scale Shocks
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
w29887 Juliane Begenau
Emil Siriwardane

How do Private Equity Fees vary across Public Pensions?
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
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
w29774 Federico Huneeus
Joseph P. Kaboski
Mauricio Larrain
Sergio L. Schmukler
Mario Vera

The Distribution of Crisis Credit: Effects on Firm Indebtedness and Aggregate Risk
w29723 Ron Kaniel
Zihan Lin
Markus Pelger
Stijn Van Nieuwerburgh

Machine-Learning the Skill of Mutual Fund Managers
w29720 Michael Sockin
Wei Xiong

Decentralization Through Tokenization
w29680 Viral V. Acharya
Raghuram Rajan

Liquidity, Liquidity Everywhere, Not a Drop to Use - Why Flooding Banks with Central Bank Reserves May Not Expand Liquidity
w29632 Zhiguo He
Jian Li

Intermediation via Credit Chains
2021
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
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
w29501 Simon Gilchrist
Bin Wei
Vivian Z. Yue
Egon Zakrajšek

Sovereign Risk and Financial Risk
w29421 Tobias Berg
Andreas Fuster
Manju Puri

FinTech Lending
w29410 Larry Cordell
Michael R. Roberts
Michael Schwert

CLO Performance
w29388 Ge Bai
Daniel Jiménez
Phillip Phan
Luis E. Quintero
Alessandro Rebucci
Xian Sun

The Financial Fragility of For-profit Hospitals: Evidence from the COVID-19 Pandemic
w29311 Gharad T. Bryan
Dean Karlan
Adam Osman

Big Loans to Small Businesses: Predicting Winners and Losers in an Entrepreneurial Lending Experiment
w29281 Andrew Metrick
Paul Schmelzing

Banking-Crisis Interventions, 1257-2019
w29270 Anthony A. DeFusco
Huan Tang
Constantine Yannelis

Measuring the Welfare Cost of Asymmetric Information in Consumer Credit Markets
w29223 Jeremy I. Bulow
Paul D. Klemperer

Misdiagnosing Bank Capital Problems
w29169 Constantine Yannelis
Anthony Lee Zhang

Competition and Selection in Credit Markets
w29160 Eduardo Dávila
Ansgar Walther

Corrective Regulation with Imperfect Instruments
w29136 Johannes Stroebel
Jeffrey Wurgler

What Do You Think About Climate Finance?
w29129 Vadim Elenev
Tim Landvoigt
Patrick J. Shultz
Stijn Van Nieuwerburgh

Can Monetary Policy Create Fiscal Capacity?
w29090 Adam Copeland
Darrell Duffie
Yilin Yang

Reserves Were Not So Ample After All
w29082 Clemens Sialm
Qifei Zhu

Currency Management by International Fixed Income Mutual Funds
w29039 Liran Einav
Amy Finkelstein
Neale Mahoney

The IO of Selection Markets
w29036 Andrey Malenko
Nadya Malenko
Chester S. Spatt

Creating Controversy in Proxy Voting Advice
w29011 Matteo Aquilina
Eric Budish
Peter O'Neill

Quantifying the High-Frequency Trading "Arms Race"
w28980 Josh Lerner
Amit Seru
Nick Short
Yuan Sun

Financial Innovation in the 21st Century: Evidence from U.S. Patents
w28967 Xavier Gabaix
Ralph S. J. Koijen

In Search of the Origins of Financial Fluctuations: The Inelastic Markets Hypothesis
w28879 Eduardo Dávila
Ansgar Walther

Prudential Policy with Distorted Beliefs
w28870 Haelim Anderson
Kinda Cheryl Hachem
Simpson Zhang

Reallocating Liquidity to Resolve a Crisis: Evidence from the Panic of 1873
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
w28824 Nicolae B. Gârleanu
Stavros Panageas
Geoffery X. Zheng

A Long and a Short Leg Make For a Wobbly Equilibrium
w28806 Lars E.O. Svensson
Household Debt Overhang Did Hardly Cause a Larger Spending Fall during the Financial Crisis in the UK
w28781 Stephen L. Ross
Yuan Wang

Mortgage Lenders and the Geographic Concentration of Foreclosures
w28777 Wenxin Du
Jesse Schreger

CIP Deviations, the Dollar, and Frictions in International Capital Markets
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
w28709 Cyrus Aghamolla
Pinar Karaca-Mandic
Xuelin Li
Richard T. Thakor

Merchants of Death: The Effect of Credit Supply Shocks on Hospital Outcomes
w28692 Valentin Haddad
Tyler Muir

Do Intermediaries Matter for Aggregate Asset Prices?
w28676 Eduardo Dávila
Itay Goldstein

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

Arbitrage Capital of Global Banks
w28599 Peter M. DeMarzo
Zhiguo He
Fabrice Tourre

Sovereign Debt Ratchets and Welfare Destruction
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?
w28501 Juliane Begenau
Tim Landvoigt

Financial Regulation in a Quantitative Model of the Modern Banking System
w28426 Alp Simsek
The Macroeconomics of Financial Speculation
w28415 Joseph E. Stiglitz
Economic Fluctuations and Pseudo-Wealth
w28377 Douglas W. Diamond
Yunzhi Hu
Raghuram G. Rajan

Liquidity, Pledgeability, and the Nature of Lending
w28365 Abhijit Banerjee
Emily Breza
Arun G. Chandrasekhar
Esther Duflo
Matthew O. Jackson
Cynthia Kinnan

Changes in Social Network Structure in Response to Exposure to Formal Credit Markets
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

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