Research

Publications

  1. Dynamic Intervention and Informational Linkages, 11/2017, with Lin William Cong and Steven R. Grenadier. Forthcoming, Journal of Financial Economics.
  2. Pledgeability, Industry Liquidity, and Financing Cycles, 08/2018, with Douglas Diamond and Raghuram Rajan. Forthcoming, Journal of Finance.
  3. The Spillovers from Easy Liquidity and the Implications for Multilateralism, 3/2019, with Douglas Diamond and Raghuram Rajan. Accepted, IMF Economic Review

Working Papers

  1. A Dynamic Theory of Learning and Relationship Lending, with Felipe Varas, 08/2019. (Revise and Resubmit at Journal of Finance.)
  2. A Dynamic Theory of Bank Lending, Firm Entry, and Investment Fluctuations, 04/2018 Previously circulated under the title “Recovery Dynamics: An Explanation from Bank Lending and Entrepreneur Entry”
  3. Overcoming Borrowing Stigma: The Design of
    Lending-of-Last-Resort Policies
    , 07/2019, with Hanzhe Zhang (new version coming soon!)
  4. Liquidity and the Structure of Intermediation, 08/2019, with Douglas Diamond and Raghuram Rajan
  5. Counterparty Risk: Implications for Network Linkages and Asset Prices, 7/2019, with Fotis Grigoris and Gill Segal