Yan Xiong , Uday Rajan Jan 26,2025
Working Paper No.00148-00
We study a credit market in which lending decisions depend on a borrower's digital profile, and the borrower can manipulate... Read More
Yan Xiong , Uday Rajan Jan 26,2025
Working Paper No.00148-00
We study a credit market in which lending decisions depend on a borrower's digital profile, and the borrower can manipulate... Read More
christoph frei, Markus Baldauf Joshua Mollner Jun 12,2024
Working Paper No.00095-02
We study the optimal execution problem in a principal-agent setting. A client contracts to purchase from a dealer. The dealer... Read More
Published: Journal of Financial Economics, 2024, 160(), 103901-Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00129-01
We study how information technology (IT) affects lender competition, entrepreneurs’ investment, and welfare in a spatial model. The effects of... Read More
Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00141-00
We study fintech entry and how it affects competition, investment, and welfare in a spatial model. We find that fintechs... Read More
Douglas Xu, Shiyang Huang Lin William Cong (叢林) Nov 21,2024
Working Paper No.00133-01
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that... Read More
Marcus Opp , Martin Oehmke Mar 27,2023
Working Paper No.00093-00
We characterize the conditions under which a socially responsible (SR) fund induces firms to reduce externalities, even when profit-seeking capital... Read More
Shiyang Huang , Alexandr Kopytov Jul 22,2023
Working Paper No.00112-00
We build a model analyzing optimal environmental regulation in the presence of socially responsible investors. Investors care about sustainability of... Read More
Thomas Philippon, Cecilia Parlatore Sep 25,2023
Working Paper No.00074-01
We study the optimal design of stress scenarios. A principal manages the unknown risk exposures of agents by asking them to... Read More
Jian Li. , Zhiguo He Jun 03,2022
Working Paper No.00078-00
The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We... Read More