NATIONAL BUREAU OF ECONOMIC RESEARCH
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NBER Papers on Working Group on Risks of Financial Institutions

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2021
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

High Cost 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
2020
w28252 Greg Buchak
Gregor Matvos
Tomasz Piskorski
Amit Seru

Why is Intermediating Houses so Difficult? Evidence from iBuyers
w28247 Enrique G. Mendoza
Eugenio I. Rojas
Linda L. Tesar
Jing Zhang

A Macroeconomic Model of Healthcare Saturation, Inequality and the Output-Pandemia Tradeoff
w28246 Philipp Ager
Katherine Eriksson
Ezra Karger
Peter Nencka
Melissa A. Thomasson

School Closures During the 1918 Flu Pandemic
w28201 Patrick J. Kehoe
Pierlauro Lopez
Virgiliu Midrigan
Elena Pastorino

Credit Frictions in the Great Recession
w28124 Laurence M. Ball
Liquidity Risk at Large U.S. Banks
w28119 Sebastian Infante
Guillermo Ordoñez

The Collateral Link between Volatility and Risk Sharing
w28118 Zhiguo He
Jing Huang
Jidong Zhou

Open Banking: Credit Market Competition When Borrowers Own the Data
w28114 Tetyana Balyuk
Nagpurnanand R. Prabhala
Manju Puri

Indirect Costs of Government Aid and Intermediary Supply Effects: Lessons From the Paycheck Protection Program
w28096 Viral V. Acharya
Siddharth Vij

Foreign Currency Borrowing of Corporations as Carry Trades: Evidence from India
w28088 Yueran Ma
José A. Scheinkman

Going-Concern Debt of Financial Intermediaries
w28028 Jonathan A. Parker
Antoinette Schoar
Yang Sun

Retail Financial Innovation and Stock Market Dynamics: The Case of Target Date Funds
w28016 Nathan Foley-Fisher
Gary B. Gorton
Stéphane Verani

Adverse Selection Dynamics in Privately-Produced Safe Debt Markets
w27994 Sigurd Galaasen
Rustam Jamilov
Ragnar Juelsrud
Hélène Rey

Granular Credit Risk
w27959 Itamar Drechsler
Alan Moreira
Alexi Savov

Liquidity and Volatility
w27953 Benjamin M. Hébert
Externalities as Arbitrage
w27883 Vincent Glode
Christian Opp

Renegotiation in Debt Chains
w27815 Qi Chen
Itay Goldstein
Zeqiong Huang
Rahul Vashishtha

Liquidity Transformation and Fragility in the US Banking Sector
w27763 Kaiji Chen
Haoyu Gao
Patrick C. Higgins
Daniel F. Waggoner
Tao Zha

Monetary Stimulus Amidst the Infrastructure Investment Spree: Evidence from China's Loan-Level Data
w27733 Qian Chen
Christoffer Koch
Padma Sharma
Gary Richardson

Payments Crises and Consequences
w27701 Joao A. C. Santos
S. Vish Viswanathan

Bank Syndicates and Liquidity Provision
w27698 Kristin J. Forbes
The International Aspects of Macroprudential Policy
w27659 Isil Erel
Jack Liebersohn

Does FinTech Substitute for Banks? Evidence from the Paycheck Protection Program
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
w27601 Viral V. Acharya
Sascha Steffen

The Risk of Being a Fallen Angel and the Corporate Dash for Cash in the Midst of COVID
w27559 Antonio Falato
Itay Goldstein
Ali Hortaçsu

Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets
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
w27517 Viral V. Acharya
Soku Byoun
Zhaoxia Xu

The Sensitivity of Cash Savings to the Cost of Capital
w27499 Manuel Adelino
William B. McCartney
Antoinette Schoar

The Role of Government and Private Institutions in Credit Cycles in the U.S. Mortgage Market
w27491 Ricardo Correa
Wenxin Du
Gordon Y. Liao

U.S. Banks and Global Liquidity
w27442 Martin Goetz
Luc Laeven
Ross Levine

Do Bank Insiders Impede Equity Issuances?
w27416 Zhiguo He
Stefan Nagel
Zhaogang Song

Treasury Inconvenience Yields during the COVID-19 Crisis
w27396 Robin Greenwood
Samuel G. Hanson
Andrei Shleifer
Jakob Ahm Sørensen

Predictable Financial Crises
w27376 Itay Goldstein
Alexandr Kopytov
Lin Shen
Haotian Xiang

Bank Heterogeneity and Financial Stability
w27367 Jules H. van Binsbergen
Duration-Based Stock Valuation: Reassessing Stock Market Performance and Volatility
w27355 Mahyar Kargar
Benjamin Lester
David Lindsay
Shuo Liu
Pierre-Olivier Weill
Diego Zúñiga

Corporate Bond Liquidity During the COVID-19 Crisis
w27316 Victoria Ivashina
Boris Vallee

Weak Credit Covenants
w27292 Viral V. Acharya
Katharina Bergant
Matteo Crosignani
Tim Eisert
Fergal J. McCann

The Anatomy of the Transmission of Macroprudential Policies
w27275 Cristina Arellano
Yan Bai
Gabriel P. Mihalache

Deadly Debt Crises: COVID-19 in Emerging Markets
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
w27207 Vadim Elenev
Tim Landvoigt
Stijn Van Nieuwerburgh

Can the Covid Bailouts Save the Economy?
w27195 Michael R. Roberts
Michael Schwert

Interest Rates and the Design of Financial 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
w27158 Viral V. Acharya
Matteo Crosignani
Tim Eisert
Christian Eufinger

Zombie Credit and (Dis-)Inflation: Evidence from Europe
w27136 Richard K. Lyons
Ganesh Viswanath-Natraj

What Keeps Stablecoins Stable?
w27113 Kyriakos T. Chousakos
Gary B. Gorton
Guillermo Ordoñez

The Macroprudential Role of Stock Markets
w27097 Scott R. Baker
R. A. Farrokhnia
Steffen Meyer
Michaela Pagel
Constantine Yannelis

Income, Liquidity, and the Consumption Response to the 2020 Economic Stimulus Payments
w27088 Arvind Krishnamurthy
Wenhao Li

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment
w27048 Laura Alfaro
Ester Faia
Ruth A. Judson
Tim Schmidt-Eisenlohr

Elusive Safety: The New Geography of Capital Flows and Risk
w27044 Ricardo J. Caballero
Alp Simsek

A Model of Endogenous Risk Intolerance and LSAPs: Asset Prices and Aggregate Demand in a "Covid-19" Shock
w27025 John Y. Campbell
Roman Sigalov

Portfolio Choice with Sustainable Spending: A Model of Reaching for Yield
w26908 Matthew Baron
Emil Verner
Wei Xiong

Banking Crises without Panics
w26903 Erica Jiang
Gregor Matvos
Tomasz Piskorski
Amit Seru

Banking without Deposits: Evidence from Shadow Bank Call Reports
w26887 Thomas Ian Schneider
Philip E. Strahan
Jun Yang

Bank Stress Testing: Public Interest or Regulatory Capture?
w26855 Antonio Coppola
Matteo Maggiori
Brent Neiman
Jesse Schreger

Redrawing the Map of Global Capital Flows: The Role of Cross-Border Financing and Tax Havens
w26820 Peter Bednarek
Daniel Marcel te Kaat
Chang Ma
Alessandro Rebucci

Capital Flows, Real Estate, and Local Cycles: Evidence from German Cities, Banks, and Firms
w26773 Todd M. Hazelkorn
Tobias J. Moskowitz
Kaushik Vasudevan

Beyond Basis Basics: Liquidity Demand and Deviations from the Law of One Price
w26739 Adair Morse
Karen Pence

Technological Innovation and Discrimination in Household Finance
w26714 Murillo Campello
Gustavo S. Cortes
Fabricio d'Almeida
Gaurav Kankanhalli

Exporting Uncertainty: The Impact of Brexit on Corporate America
w26710 Christoffer Koch
Gary Richardson
Patrick Van Horn

Countercyclical Capital Buffers: A Cautionary Tale
w26701 Marco Cipriani
Ana Fostel
Daniel Houser

Leverage and Asset Prices: An Experiment.
w26689 Anil K. Kashyap
Dimitrios P. Tsomocos
Alexandros P. Vardoulakis

Optimal Bank Regulation In the Presence of Credit and Run-Risk
w26671 Cristina Arellano
Yan Bai
Gabriel P. Mihalache

Monetary Policy and Sovereign Risk in Emerging Economies (NK-Default)

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Generated on Mon Jun 7 00:00:05 2021

 
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