Papers 2008

Working Papers 2008

The Reaction of Consumer Spending and Debt to Tax Rebates – Evidence from Consumer Credit Data
Sumit Agarwal, Chunlin Liu and Nicholas Souleles

Net Worth Housing Equity in Retirement
Todd Sinai and Nicholas Souleles

Predictive Systems: Living with Imperfect Predictors (Revised 11-07)
Lubos Pastor and Robert Stambaugh
(The Journal of Finance, Vol. 64, Issue 4, August 2009)

Levered Returns
Joao Gomes and Lukas Schmid
(The Journal of Finance, Vol. 65, Issue 2, April 2010)

A Multiplicative Model of Optimal CEO Incentives in Market Equilibrium
Alex Edmans, Xavier Gabaix and Augustin Landier
(The Review of Financial Studies, Vol. 22, Issue 12, December 2009)

Institutional Investors, Credit Supply, Uncertainty and the Leverage of the Firm
Massimo Massa, Ayako Yasuda, and Lei Zhang

Governance Through Exit and Voice: A Theory of Multiple Blockholders
Alex Edmans and Gustavo Manso
(The Review of Financial Studies, Vol. 24, Issue 7, July 2011)

Blockholders, Market Efficiency, an Managerial Myopia
Alex Edmans
(The Journal of Finance, Vol. 64, Issue 6, December 2009)

Portfolio Choice in Retirement: Health Risk and the Demand for Annuities, Housing and Risky Assets
Motohiro Yogo

Are Stocks Really Less Volatile in the Long Run?
Lubos Pastor and Robert Stambaugh
(The Journal of Finance, Vol. 67, Issue 2, April 2012)

Oil Futures in a Production Economy with Investment Constraints
Leonid Kogan, Dmitry Livdan and Amir Yaron
(The Journal of Finance, Vol. 64, Issue 3, June 2009)

Risks for the Long Run: Estimation and Inference
Ravi Bansal, Dana Kiku and Amir Yaron

Diversification and its Discontents: Idiosyncratic and Entrepreneurial Risk in the Quest for Social Status
Nikolai Roussanov
(The Journal of Finance Vol. 65, Issue 5, October 2010)

What’s Vol Got to do with it?
Itamar Drechsler and Amir Yaron
(The Review of Financial Studies Vol. 24, Issue 1, January 2011)

Temporal Risk Aversion and Asset Prices
Skander Van den Heuvel

Can time-varying risk of rare disasters explain aggregate stock market volatility?
Jessica A. Wachter
(Journal of Finance Vol. LXVIII, NO. 3, June 2013)

Mergers and Persistence
Jeffrey Jaffe, David Pedersen and Torben Voetmann