Current Working Papers

2020

01-20
Duration-Based Stock Valuation:  Reassessing Stock Market Performance and Volatility
Jules H. van Binsbergen

02-20
Common Fund Flows:  Flow Hedging and Factor Pricing
Winston Wei Dou, Leonid Kogan and Wei Wu

03-20
Equilibrium Asset Pricing with Leverage and Default 
Joao F. Gomes and Lukas Schmid

04-20
Should the U.S. Government Issue Floating Rate Notes?
Jonathan S. Hartley and Urban Jermann

05-20
Financial Fragility with SAM
Daniel L. Greenwald, Tim Landvoigt and Stijn van Nieuwerburgh

06-20
Contracts with (Social) Benefits:  The Implementation of Impact Investing  
Christopher Geczy, Jessica S. Jeffers, David K, Musto and Anne M. Tucker

07-20
Executive Stock Options and Systemic Risk
Christopher Armstrong, Allison Nicoletti and Frank Zhou

08-20
Do Managers Learn from Institutional Investors Through Direct Interactions?
Rachel Xi Zhang

9-20
CLO Performance
Larry Corell, Michal R. Roberts and Michael Schwert

10-20
Proactive Capital Structure Adjustments:  Evidence from Corporate Filings
Arthyr Korteseg, Michael Schwert and Ilya A. Strebulaev

11-20
Sustainable Investing in Equilibrium
Lubos Pastor, Robert F. Stambaugh and Lucian A. Taylor

12-20
Macroeconomic Models for Monetary Policy:  A Critical Review from a Finance Perspective
Winston Wei Dou, Andrew W. Lo, Ameya Muley and Harald Uhlig

13-20
External Financing and Customer Capital:  A Financial Theory of Markups
Winston Wei Dou and Yan Ji

14-20
Can the Covid Bailouts Save the Economy?
Vadim Elenev, Tim Landvoigt and Stijn van Nieuwerburgh

15-20
Economics of Leveraged Buyouts: Theory and Evidence from the UK Private Equity Industry
Alexander Belyakov

16-20
Student Loans and Social Mobility
Mehran Ebrahimian