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.

Working Papers

  1. 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”
  2. Overcoming Borrowing Stigma: The Design of
    Lending-of-Last-Resort Policies
    , 09/2018, with Hanzhe Zhang
  3. Liquidity and Securitization, 11/2018, with Douglas Diamond and Raghuram Rajan
  4. The Spillovers from Easy Liquidity and the Implications for Multilateralism, 3/2019, with Douglas Diamond and Raghuram Rajan.

Work in Progress

  1. A Dynamic Theory of Learning and Relationship Lending, with Felipe Varas, draft available upon request
  2. The Trade Credit Chanel of Monetary Policy, with Janet Gao
  3. The Counterparty Risk Premium, With Gill Segal