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LouisTodd Milbourn Washington University . Treasuries they earn lower return on in their own currency. About half of program affiliates received their PhD in last years [...]

Become a subscriber NBER Research Disclosure Policy Close Activities are organized into Programs and Working Groups. The researchers point out that United States is not closed economy and during early experienced massive influx of foreign capital particularly to domestic bond markets. Some violations have persisted and are still observed today even though balance sheets of financial institutions recovered [...]

Anthony Cookson University of ColoradoMarina Niessner Yale presented by J. About half of program affiliates received their PhD in last years [...]

First cheap credit especially lower downpayment constraints but also mortgage rates enabled poorer households to spend more purchase the place. While NBER affiliates must have primary academic appointments North America BREAD includes researchers with and nonacademic globally. Weidenmier Stock Volatility and the Great Depression Terence [...]

Louis Discussant Matteo Maggiori Harvard University Session AFA Panel The New Financial Regulatory Environment and its Implications for MarketsJanuary Sheraton Grand Chicago Ballroom Chair Deborah Lucas Massachusetts Institute of Technology Presented by Tobias Adrian International Monetary Fund Stephen Berger Citadel Darrell Duffie Stanford Behavioral Corporate FinanceJanuary Ulrike Malmendier California Berkeley Do Personal Ethics Influence EthicsBy John Griffin Texas AustinSamuel Kruger AustinGonzalo Maturana Emory Ivo Welch Los Angeles Afraid your WorkersCEOs strikes financing decisionsBy Daniel Technische nchenThomas Schmid Hong Kong Efraim Benmelech Northwestern Face Risk Testosterone Taking BehaviorBy Shinichi Kamiya Nanyang Technological UniversityY. Svensson What Rule for the Federal Reserve Forecast Targeting Chen Zhenyu Gao Jibao Wenxi Jiang Wei Xiong Daily Price Limits and Destructive Market Behavior Luigi Bocola Guido Lorenzoni Financial Crises Dollarization Lending of Last Resort Open Economies Arvind Krishnamurthy Stefan Nagel Annette ECB Policies Involving Government Bond Purchases Impact Channels Bruno Biais Johan Hombert PierreOlivier Weill Incentive Constrained Risk Sharing Segmentation Asset Pricing Jongha Michael . Moreover their analysis suggests that about percent of variance in stock returns due variations assets under management different investor types while attributable other demand factors. We stress that because houses trade in an illiquid search market less than percent of the housing stock trades any given year small number optimists enough have major impact on few transactions observe . Second a larger fraction of the houses sold in were either low or high quality relative to [...]

Alexander Dyck University of TorontoKarl Lins UtahLukas Roth AlbertaHannes Wagner Bocconi presented by Discussant Inessa Liskovich Texas at Austin Peer Effects Corporate Social Jie Cao Chinese Hong KongHao Liang Singapore Management Zhan Xintong IngHaw Cheng Dartmouth College Session Tax Shelters Sheraton Grand Chicago Mayfair Level Chair Kose John New York Temple Inversions Case Having the Cake Eating TooBy Felipe Cortes Northeastern Gomes Washington . Revealed Preference Evidence from the Propensity to Spend Tax Rebates w Alexander [...]

Longstaff Shadow Funding Costs Measuring the of Balance Sheet Constraints Zheng Michael Song Wei Xiong Risks China Financial System Roni Michaely Stefano Rossi Weber Information Content Dividends Safer Profits Not Higher Manuel Adelino Kristopher Gerardi Barney HartmanGlaser Are Lemons Sold First Dynamic Signaling Mortgage Market Ralph Koijen Motohiro Yogo Fragility Insurance Jaroslav Borovi ka John Stachurski Necessary and Sufficient Conditions Existence Uniqueness Recursive Utilities Kent Daniel David Hirshleifer Sun Shortand LongHorizon Behavioral Factors Lira Mota Simon Rottke Tano Santos CrossSection Return Rawley . Kimball Matthew D [...]

Trillion the interestrate risk of their positions was comparable to that leveraged portfolio with long safe longterm bonds and similarsized short cash. Treasuries are well known to be sought after safe asset. trillion short position in cash. This was due in part to data availability [...]

Denis Healy Director of Development NBER Massachusetts Avenue Cambridge ph email dhealy Close About Explore Degrees Sign in Browseby subject. Anthony Cookson University of ColoradoMarina Niessner Yale presented by J. January and the American Economic Review pp. This work builds heavily on the classic contributions in corporate finance. Violante The Housing Boom and Bust Model Meets Evidence NBER Working Paper No [...]

This principle at the core of asset pricing theory and usually taught beginning any course finance. Schneider Momentum Traders in the Housing Market Survey Evidence and Search Model NBER Working Paper No. experience during the early s. Treasury Premium w Yves Achdou Jiequn Han JeanMichel Lasry PierreLouis Lions Benjamin Moll Income and Wealth Distribution Macroeconomics ContinuousTime Approach Jose Maria Barrero Nicholas Bloom Ian Wright Short Long Run Uncertainty Leif Andersen Darrell Duffie Yang Song Funding Value Adjustments Francis X [...]

Louis Discussant Robert Richmond New York University The Banking View of Bond Risk PremiaBy Valentin Haddad Princeton UniversityDavid Sraer California Berkeley presented Anna Cieslak Duke Session Liquidity and Trading Derivatives Markets IIJanuary Sheraton Grand Chicago Ballroom III Chair Samuel Hanson Harvard Business School Funding Value AdjustmentsBy Leif Andersen America Merrill LynchDarrell Duffie Stanford UniversityYang Song Martin Oehmke Columbia Frictions Interbank Central BankBy JeanEdouard Colliard HEC ParisThierry Foucault ParisPeter Hoffmann European Ana Babus Federal Reserve Price Pressure Corporate Evidence from MegabondsBy Helwege RiversideLiying Wang NebraskaLincoln Christian Lundblad North Carolina Cost Immediacy Jens DickNielsen Copenhagen SchoolMarco Rossi Texas Jack Bao Board Mergers IX Isil Erel Ohio State Vote Avoidance Shareholder Voting British Liu Creighton UniversityJulie Wu Andrey Malenko Massachusetts Institute Technology Predicting Targets Acquirers TextBy Bryan Routledge Carnegie Mellon Sacchetto NavarraNoah Smith Washington Andrew Michigan Probability Decomposing Takeover Effects AntiTakeover ProvisionsBy Vicente Cunat London EconomicsMireia Gine INSEAD Schonlau Brigham Young Product Integration Success Gerard Hoberg Southern Phillips Dartmouth College Gordon Sergey Chernenko Mutual Marcin Kacperczyk Imperial Using Managerial Attributes Identify Feedback Case Fire SalesBy Suman Banerjee Stevens Nanda Chong Xiao TexasDallas Alex Edmans Flightto LiquidityBy Aleksandra Rzeznik Lubos Pastor Why Institutions Delay Reporting Their Shareholdings Form FBy Susan Christoffersen TorontoErfan Danesh GovernorsDavid Musto Pennsylvania Lauren Cohen Dynamic Theory Runs ManagementBy Yao Zeng Wei Jiang Stock Returns Characteristics FactorsJanuary Jonathan Lewellen Linking CrossSectional Aggregate Expected ReturnsBy Serhiy Kozak Santosh Maryland Christopher Polk Economocs Mispricing FactorsBy Stambaugh PennsylvaniaYu Yuan Shanghai Advanced Finance Tobias Moskowitz Yale History Juhani Linnainmaa ChicagoMichael Roberts Hrdlicka Lending BehaviorJanuary Elena Loutskina Virginia Sequential Credit MarketsBy Ulf Axelson EconomicsIgor Makarov Anjan Thakor . MB Abstract The core banking activities of extending and monitoring loans issuing low yielding shortterm liabilities are functionally similar investing high quality credit maturity spread trades funded with brokerage capital market [...]