Stefan Nagel,Zhaogang Song, Zhiguo He Nov 07,2020
Working Paper No.00067-00
In sharp contrast to most previous crisis episodes, the Treasury market experienced severe stress and illiquidity during the COVID-19 crisis,... Read More
Jing Huang,Jidong Zhou, Zhiguo He Nov 24,2020
Working Paper No.00068-00
Open banking facilitates data sharing consented by customers who generate the data, with a regulatory goal of promoting competition between... Read More
Peter DeMarzo , Zhiguo He Nov 24,2020
Working Paper No.00069-00
We characterize equilibrium leverage dynamics in a tradeoff model when the firm can continuously adjust leverage and cannot commit to... Read More
Benjamin Hebert , Barney Hartman-Glaser Jan 08,2019
Working Paper No.00049-00
We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk... Read More
Brett Green , Vladimir Asriyan William Fuchs Mar 12,2019
Working Paper No.00034-03
We develop a rational theory of liquidity sentiments in which the market outcome in any given period depends on agents'... Read More
Published: American Economic Review, 2019, (), -Semih Uslu Mar 27,2019
Working Paper No.00050-00
I develop a search-and-bargaining model of endogenous intermediation in over-the-counter markets. Unlike the existing work, my model allows for rich... Read More
Published: Econometrica, 2019, 87(6), 2079-2140Dana Foarta, Vladimir Asriyan Victoria Vanasco Nov 05,2019
Working Paper No.00053-00
We study the joint determination of product quality and complexity in a rational setting. We introduce a novel notion of... Read More
Published: AEJ-Micro, 2021, (), -Brett Green , William Fuchs , Vladimir Asriyan Nov 05,2019
Working Paper No.00032-01
How effectively does a decentralized marketplace aggregate information that is dispersed throughout the economy? We study this question in a... Read More
Published: Journal of Economic Theory, 2021, (), -Luc Laeven,Alberto Martin, Vladimir Asriyan Nov 05,2019
Working Paper No.00054-00
We develop a new theory of information production during credit booms. Entrepreneurs need credit to undertake investment projects, some of... Read More
Published: Review of Economic Studies, 2021, (), -Martin Oehmke , Adam Zawadowski Nov 18,2019
Working Paper No.00055-00
This paper presents an equilibrium theory of product complexity. Complex products generate higher potential value, but require more attention from... Read More