工作论文 PAPERS
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The Technical Default Spread
We study the quantitative impact of lender control rights on firm investment,...
Emilio Bisetti, Kai Li, Jun Yu*
Working Paper | No. 20211101 |
Keywords: Loan covenants, technical default, creditor control rights, cross section of stock returns
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Dynamic Price Competition, Learning-By-Doing and Strategic Buyers
We examine how strategic buyer behavior affects equilibrium outcomes in a mod...
Andrew Sweeting, Dun Jia, Shen Hui, Xinlu Yao
Working Paper | No.20210908 |
Keywords: Dynamic competition, learning-by-doing, strategic buyers, dynamic games, multiple equilibria
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Adjustable Regret for Continuous Control of Conservatism and Competitive Rati...
A major issue of the increasingly popular robust optimization is the tendency...
Yingjie Lan
Working Paper | No.20210907 |
Keywords: Robust optimization, decision criteria, over-conservatism, online optimization, competitive rat
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The Influence of Media Slant on Short Sellers
Using the positive shift in tone of Fox News coverage of macroeconomic news a...
April Knill, Baixiao Liu, John J. McConnell, Glades McKenzie
Working Paper | No.20210906 |
Keywords: Media Slant, short seller, investment decisions
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On the Foundations of Competitive Search Equilibrium with and without Market ...
The literature offers two foundations for competitive search equilibrium, a N...
James Albrecht, Xiaoming Cai, Pieter Gautier, Susan Vroman
Working Paper | No.20210905 |
Keywords: Multiple application, competitive search, market makers, efficiency
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Human Capital Investment and Development: The Role of On-the-Job Training
Workers in richer countries experience faster rates of wage growth over their...
Xiao Ma, Alejandro Nakab, Daniela Vidart
Working Paper | No.20210904 |
Keywords: On-the-Job Training, human capital accumulation, lifecycle wage growth
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Learning by Exporting and Wage Profiles: New Evidence from Brazil
Export activity shapes workers’ experience-wage profiles Using detailed...
Xiao Ma, Marc-Andreas Muendler, Alejandro Nakab
Working Paper | No.20210903 |
Keywords: Export activity, wage profiles, human capital accumulation
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Learning about the Consumption Risk Exposure of Firms
We structurally estimate an investment-based asset pricing model, where firms...
Yongjin Kim, Lars-Alexander Kuehn, Kai Li
Working Paper | No.20210902 |
Keywords: Parameter uncertainty, Bayesian learning, systematic consumption risk, investment-based asset p
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Delayed Crises and Slow Recoveries
We present a rational expectations model of credit-driven crises In our model...
Xuewen Liu, Pengfei Wang, Zhongchao Yang
Working Paper | No. 20210901 |
Keywords: Credit extensions, synchronization, externality, economic recoveries
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Search, Screening and Sorting
We investigate the effect of search frictions on labor market sorting by cons...
Xiaoming Cai, Pieter Gautier, Ronald Wolthoff
Working Paper | No. 20210705 |
Keywords: Sorting, complementarity, search frictions, information frictions, heterogeneity