工作论文 PAPERS
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Faster Uniform Convergence Rates for Deconvolution Estimators From Repeated ...
Recently, Kurisu and Otsu (2022, Econometric Theory 38(1), 172-193) derived t...
Liang Chen, Mingyuan Zhang
Working Paper | No. 20220905 |
Keywords: Nonparametric deconvolution, Kotlarski’s identity, rate of convergence
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Financial Market Structure and Risk Concentration
We propose a framework that jointly determines bilateral trading networks and...
Briana Chang, Shengxing Zhang
Working Paper | No. 20220904 |
Keywords: Network, Over-the-Counter Market, Regulations
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Bond Default Matters in China: Evidence from Illiquidity Premium
This paper studies how market-wide credit risk affects the liquidity pricing ...
Haoyu Gao, Dapeng Hao, Dun Jia, Zhigang Qiu
Working Paper | No. 20220903 |
Keywords: Default events, credit spread, illiquidity premium, flight-to-liquidity
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Non-Standard Choice in Matching Markets
We explore the possibility of designing matching mechanisms that can accommod...
Gian Caspari, Manshu Khanna
Working Paper | No. 20220902 |
Keywords: Matching theory, market design, stability, college admissions market
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Beyond Dividing the Pie: Multi-Issue Bargaining in the Laboratory
We design a laboratory experiment to study bargaining behavior when negotiati...
Olivier Bochet, Manshu Khanna, Simon Siegenthaler
Working Paper | No. 20220901 |
Keywords: Negotiation scope, asymmetric information, bundling, alternating offers, value creation
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Price Rigidities and the Value of Public Information
AbstractFirms’ inflexibility in adjusting output prices to economic sho...
Lifeng Gu, Jin Xie
Working Paper | No.20220708 |
Keywords: Nominal Rigidities, Information Frictions, Public Information, Capital-Market Efficiency
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Punish One, Teach A Hundred: The Sobering Effect of Punishment on the Unpunis...
Direct experience of a peer’s punishment might have a sobering effect a...
Francesco D’Acunto, Michael Weber, Jin Xie
Working Paper | No. 20220707 |
Keywords: Corporate Governance, Cultural Finance, Information Transmission, Peer Effects, Reputational Sa
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Internal Capital Markets and the Transmission of Exchange-Rate Shocks
Liquidity-constrained large shareholders often reallocate capital within busi...
Kang Shi, Jin Xie, Juanyi (Jenny) Xu
Working Paper | No. 20220706 |
Keywords: Internal Capital Market, Corporate Governance, Collateral Constraint, Exchange Rates, Export Pr
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Regime Shifts in a Long-run Risks Model of U.S. Stock and Treasury Bond Marke...
We study the joint determinants of stock and bond returns in a long-run risks...
Kai Li, Chenjie Xu
Working Paper | No. 20220705 |
Keywords: Regime shift, risks model, U S stock, treasury bond market
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The Unmeasured Finance in Misallocation
This paper documents a large overestimation of measured finance misallocation...
Weiwei Hu, Kai Li, Yiming Xu
Working Paper | No. 20220704 |
Keywords: Lease-induced debt, External finance, Misallocation of finance