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.

Working Papers

  1. A Dynamic Theory of Learning and Relationship Lending, with Felipe Varas, 04/2019
  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
    , 09/2018, with Hanzhe Zhang
  4. Liquidity and Securitization, 11/2018, with Douglas Diamond and Raghuram Rajan
  5. The Spillovers from Easy Liquidity and the Implications for Multilateralism, 3/2019, with Douglas Diamond and Raghuram Rajan.

Work in Progress

  1. The Trade Credit Chanel of Monetary Policy, with Janet Gao
  2. The Counterparty Risk Premium, With Gill Segal