Alejandro Rivera, Tak-Yuen Wong, Alejandro Rivera, Tak-Yuen Wong, Dirk Hackbarth Jan 14,2018
This paper studies incentives in a dynamic contracting framework of a levered firm. In particular, the manager selects long-term and... Read More
Peter Kondor , Adam Zawadowski Mar 12,2018
We study a capital reallocation problem in which investors can enter into a new market where they compete with each other... Read More
luis garicano,luis rayo, William Fuchs Jul 30,2018
We study contractual arrangements that support an efficient use of time in a knowledge- intensive economy in which agents... Read More
Batchimeg Sambalaibat Aug 23,2018
We build a directed search model of network formation. We propose that a core-periphery interdealer network arises from dealer specialization. Read More
James Dow,Jungsuk Han, Francesco Sangiorgi Sep 20,2018
Will arbitrage capital flow into a market experiencing a liquidity shock, mitigating the adverse effect of the shock on price... Read More
Ivan Marinovic , Martin Szydlowski Sep 21,2018
We study the disclosure policy of a regulator overseeing a monitor with reputation concerns, such as a bank or... Read More
Briana Chang , Martin Szydlowski Sep 21,2018
We present a model of the market for advice in which advisers have conflicts of interest and compete for... Read More
Alice Hsiaw, Ing-Haw Cheng Dec 14,2018
Why do individuals interpret the same information differently? We propose that individuals follow Bayes' Rule when forming posteriors with one exception:... Read More
Brian Waters , Edward Van Wesep Dec 17,2018
We present a general equilibrium model of labor market ows that features a periodic equilibrium in which turnover is high... Read More
Ravi Bansal, Ravi Bansal, Hengjie Ai Jan 06,2017
The paper develops a theory for equity premium around macroeconomic announcements. Stock returns realized around pre-scheduled macroeconomic announcements, such as... Read More