Publications

Customer Data Access and Fintech Entry: Early Evidence from Open Banking

Tania Babina, Saleem Bahaj, Greg Buchak, Filippo De Marco, Angus Foulis, Will Gornall, Francesco Mazzola, Tong Yu

Journal of Financial Economics April2025 Vol. 169

Evaluating the Effects of a Low-Cost, Online Financial Education Program

Robert L. Clark, Chuanhao Lin, Annamaria Lusardi, Olivia S. Mitchell, Andrea Sticha

Journal of Economic Behavior & Organization April2025 Vol. 232

Valuation and Long-Term Growth Expectations

Angel Tengulov, Josef Zechner, Jeffrey Zwiebel

Journal of Financial and Quantitative Analysis April2025 Pages 1–38.

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

Arvind Krishnamurthy, Wenhao Li

Journal of Political Economy March2025 Vol. 133 Issue 3

How Credit Cycles across a Financial Crisis

Arvind Krishnamurthy, Tyler Muir

Journal of Finance March2025

Internationalizing Like China

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

American Economic Review March2025 Vol. 115 Issue 3 Pages 864–902.

The Decline of Too Big to Fail

Antje Berndt, Darrell Duffie, Yichao Zhu

American Economic Review March2025 Vol. 115 Issue 3 Pages 945–974.

Bank Funding Risk, Reference Rates, and Credit Supply

Harry Cooperman, Darrell Duffie, Stephan Luck, Zachry Wang, Yilin (David) Yang

The Journal of Finance February2025 Pages 5–56.

Four Facts About ESG Beliefs and Investor Portfolios

Stefano Giglio, Matteo Maggiori, Johannes Stroebel, Zhenhao Tan, Stephen Utkus, Xiao Xu

Journal of Financial Economics February2025 Vol. 164

Reserves Were Not So Ample after All

Adam Copeland, Darrell Duffie, Yilin (David) Yang

Quarterly Journal of Economics February2025 Vol. 140 Issue 2 Pages 239–281.

The Impact of Impact Investing

Jonathan B. Berk, Jules H. van Binsbergen

Journal of Financial Economics February2025 Vol. 164

Trading Stocks Builds Financial Confidence and Compresses the Gender Gap

Saumitra Jha, Moses Shayo

Economic Journal January52025 Vol. 135 Issue 665 Pages 235–263.

Continuous-Time Random Matching

Darrell Duffie, Lei Qiao, Yeneng Sun

Annals of Applied Probability (forthcoming) January2025

Margin Rules and Margin Trading: Past, Present, and Implications

Zhuo Chen, Zhiguo He, Wei Wei

Annual Review of Financial Economics November2024 Vol. 16 Pages 153–177.

Agency MBS as Safe Assets

Zhiguo He, Zhaogang Song

forthcoming, Review of Financial Studies October212024

Dollar Safety and the Global Financial Cycle

Zhengyang Jiang, Arvind Krishnamurthy, Hanno Lustig

The Review of Economic Studies October2024 Vol. 91 Issue 5 Pages 2978-2915.

Valuing Long-Term Property Rights with Anticipated Political Regime Shifts

Zhiguo He, Maggie Rong Hu, Zhenping Wang, Vincent Yao

American Economic Review September262024 Vol. 114 Issue 9 Pages 2701–2747.

Monetary Tightening and U.S. Bank Fragility in 2023: Mark-to-Market Losses and Uninsured Depositor Runs?

Erica Xuewei Jiang, Gregor Matvos, Tomasz Piskorski, Amit Seru

Journal of Financial Economics September2024 Vol. 159

The Problem of Good Conduct Among Financial Advisers

Mark Egan, Gregor Matvos, Amit Seru

Journal of Economic Perspectives September2024 Vol. 38 Issue 4 Pages 193–210.

The Drivers and Implications of Retail Margin Trading

Zhiguo He, Jiangze Bian, Dong Lou, Kelly Shue, Zhi Da, Hao Zhou

Journal of Finance August102024