Douglas Xu, Shiyang Huang , Lin William Cong (叢林) Dec 30,2023
Working Paper No.00133-00
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that... Read More
Zhiheng He,Ke Tang, Lin William Cong (叢林) Dec 30,2023
Working Paper No.00134-00
Blockchain-based platforms and decentralized finance prominently features ``staking'': Besides offering a convenience yield for transactions as digital media of exchange,... Read More
Batchimeg Sambalaibat Jul 07,2021
Working Paper No.00072-00
I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that... Read More
Christian Heyerdahl-Larsen, Philipp Illeditsch Dec 13,2019
Working Paper No.00058-00
We develop an overlapping generations model with disagreement about the cross-sectional distribution of investors’ preferences and beliefs. This disagreement implies... Read More
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), 2079-2140Peter Kondor , Adam Zawadowski Mar 12,2018
Working Paper No.00031-00
We study a capital reallocation problem in which investors can enter into a new market where they compete with each other... Read More