工作论文 PAPERS
-
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
-
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
-
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
-
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
-
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
-
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
-
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
-
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
-
Turbulent Business Cycles
Recessions are associated with sharp increases in turbulence that reshuffle f...
Ding Dong, heng Liu, Pengfei Wang
Working Paper | No. 20220703 |
Keywords: Turbulence,heterogeneous firms, financial frictions, reallocation, productivity, business cycle
-
Trust and Contracts: Empirical Evidence
Trust between parties should drive contract design: if parties were suspiciou...
Francesco D’Acunto, Jin Xie, Jiaquan Yao
Working Paper | No.20220702 |
Keywords: Empirical Contract Theory, Incomplete Contracts, Cultural Economics, Beliefs and Choice, Person