We develop volatility risk premium (VRP) timing strategies that involve trading two assets: a volatility asset and

We examine the incentives motivating a mutual fund family to launch ESG funds, aiming to understand the supply-si

Durable capital is harder to finance not only due to its greater down payment, but also because of its larger

Industries with significant scale economies or learning-by-doing may come to be dominated by a single firm Econom

We study fare structure design and public transit use Leveraging a fare rise in the Beijing Subway that replaced a flat rate with one that varies by distance, time, and offers quantity discounts, we find inelastic demand, inflexible travel schedules, and

The domain of mutual fund management is characterized by an array of incentives that influence the decision-making of fund managers In this article, we provide a survey of the extensive literature on various types of incentives faced by mutual fund manag

Understanding the impacts of new technology and innovations on the banking sector is important and of growing interest However, there is limited research on the detailed channels of these impacts and, consequently, their evaluations with respect to th

Firms frequently lease capital, as indicated by the data; however, the impact of leasing on aggregate efficiency has seldom been studied In this paper, we demonstrate that leasing can mitigate the inefficiencies caused by pecuniary externalities in ec

​We document that the duration of investors’ information processing time improves the price discovery efficiency following public macroeconomic announcements

Although the literature has emphasized different channels through which changes in credit conditions affect economic activity, the relative quantitative importance of these channels remains unclear In this paper, we seek to evaluate the relative role