Papers 2020

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

17-20
The Financial Origins of the Rise and Fall of American Inflation
Itamar Drechsler, Alexi Savov and Philipp Schnabl

18-20
Liquidity and Volatility
Itamar Drechsler, Alan Moreira and Alexi Savov

19-20
Renegotiation in Debt Chains
Vincent Glode and Christian Opp

20-20
Bank Debt versus Mutual Fund Equity in Liquidity Provision
Yiming Ma, Kairong Xiao and Yao Zeng

21-20
Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity
Yiming Ma, Kairong Xiao and Yao Zeng

22-20
The Distributional Effects of Student Loan Forgiveness
Sylvain Catherine and Constantine Yannelis

23-20
Cheap Thrills: the Price of Leisure and the Global Decline in Work Hours
Alexandr Kopytov, Nikolai Roussanov and Mathieu Taschereau-Dumouchel

24-20
Mutual Fund Flows and Performance in (Imperfectly) Rational Markets?
Nikolai Roussanov, Hongxun Ruan and Yanhao Wei

25-20
In too Deep:  The Effect of Sunk Costs on Corporate Investment
Marius Guenzel

26-20
Feedback and Contagious Distressed Competition
Hui Chen, Winston Wei Dou, Hingye Guo and  Yan Ji

27-20
The Impact of Social Insurance on Household Debt
Gideon Bornsein and Sasha Indarte

28-20
The Day that WTI Died:  Asset Prices and Firm Production Decisions
Erik Gilje, Robert Ready, Nick Roussanov and Jerome P. Taillard

29-20
Man vs. Machine Learning:  The Term Structure of Earnings Expectations and Conditional Biases
Jules H. van Binsbergen, Xiao Han and Alejandro Lopez-Lira

30-20
Is the United States a Lucky Survivor:  A Hierarchical Bayesian Approach
Jules H. van Binsbergen, Sophia Hua and Jessica A. Wachter

31-20
Sovereign default and the decline in interest rates
Max Miller, James D. Paron, and Jessica A. Wachter