Thomas Philippon, Cecilia Parlatore Apr 26,2022
Working Paper No.00074-00
We develop a tractable framework to study the optimal design of stress scenarios. A principal wants to manage the unknown risk... 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
Gabrielle Demange, Jean-Edouard Colliard Oct 08,2020
Working Paper No.00064-00
In over-the-counter markets for assets such as bonds or securitizations, large volumes can be split into smaller pieces and gradually... Read More