Publications

Intermediary Balance Sheets and the Treasury Yield Curve

Wenxin Du, Benjamin Hébert, Wenhao Li

Journal of Financial Economics

December2023 Vol. 150 Issue 3

The Life-Cycle Model Implies That Most Young People Should Not Save for Retirement

Jason S. Scott, John B. Shoven, Sita N. Slavov, John G. Watson

The Journal of Retirement

December2023 Vol. 10 Issue 3 Pages 47–70.

Complex Asset Markets

Andrea L. Eisdeldt, Hanno Lustig, Lei Zhang

The Journal of Finance

October2023 Vol. 78 Issue 5 Pages 2519–2562.

Contracting in Peer Networks

Peter M. DeMarzo, Ron Kaniel

The Journal of Finance

October2023 Vol. 78 Issue 5 Pages 2725–2778.

Sovereign Debt Ratchets and Welfare Destruction

Peter M. DeMarzo, Zhiguo He, Fabrice Tourre

October2023 Vol. 131 Issue 10

The Importance of Financial Literacy: Opening a New Field

Annamaria Lusardi, Olivia S. Mitchell

JOURNAL OF ECONOMIC PERSPECTIVES

September2023 Vol. 37 Issue 4 Pages 137–154.

Dollar Safety and the Global Financial Cycle

Zhengyang Jiang, Arvind Krishnamurthy, Hanno Lustig

Review of Economic Studies

August2023

Financing the Litigation Arms Race

Samuel Antill, Steven Grenadier

Journal of Financial Economics

August2023 Vol. 149 Issue 2 Pages 218–234.

Optimal Corporate Taxation Under Financial Frictions

Eduardo Davila, Benjamin Hébert

The Review of Economic Studies

July2023 Vol. 90 Issue 4 Pages 1893–1933.

Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets

Hui Chen, Zhuo Chen, Zhiguo He, Jinyu Liu, Rengming Xie

The Journal of Finance

July2023 Vol. 78 Issue 5 Pages 2563–2620.

When Losses Turn into Loans: The Cost of Weak Banks

Laura Blattner, Luisa Farinha, Francisca Rebelo

American Economic Review

June2023 Vol. 113 Issue 6 Pages 1600–1641.

China in Tax Havens

Christopher Clayton, Antonio Coppola, Amanda Dos Santos, Matteo Maggiori, Jesse Schreger

AEA Papers and Proceedings

May2023 Vol. 113 Pages 114–119.

The Demand for Money, Near-Money, and Treasury Bonds

Arvind Krishnamurthy, Wenhao Li

Review of Financial Studies

May2023 Vol. 36 Issue 5 Pages 2091–2130.

The Stock Connect to China

Zhiguo He, Yuehan Wang, Xiaoquan Zhu

AEA Papers & Proceedings

May2023 Vol. 113 Pages 125–130.

Across-the-Curve Credit Spread Indices

Antje Berndt, Darrell Duffie, Yichao Zhu

Financial Markets, Institutions & Instruments

April2023

Are Intermediary Constraints Priced?

Wenxin Du, Benjamin Hébert, Amy Wang

Review of Financial Studies

April2023 Vol. 36 Issue 4 Pages 1464–1507.

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinance Program

Sumit Agarwal, Gene Amromin, Souphala Chomsisengphet, Tim Landvoigt, Tomasz Piskorski, Amit Seru, Vincent W. Yao

The Review of Economic Studies

March2023 Vol. 90 Issue 2 Pages 499–537.

Rational Inattention When Decisions Take Time

Benjamin Hébert, Michael Woodford

Journal of Economic Theory

March2023 Vol. 208

Retail Bond Investors and Credit Ratings

Ed deHaan, Jiacui Li, Edward M. Watts

Journal of Accounting and Economics

March2023

Why Do Predicted Stock Issuers Earn Low Returns?

Charles M. C. Lee, Ken Li

Review of Asset Pricing Studies

March2023 Vol. 13 Issue 1 Pages 181-221.