Zhiqiang Ye, Xavier Vives Aug 01,2024
Working Paper No.00141-00
We study fintech entry and how it affects competition, investment, and welfare in a spatial model. We find that fintechs... Read More
Douglas Xu, Shiyang Huang Lin William Cong (叢林) Nov 21,2024
Working Paper No.00133-01
We model financial innovations such as Exchange-Traded Funds, smart beta products, and many index-based vehicles as composite securities (CSs) that... Read More
Qing Chang,Longtian Zhang,Liyong Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00135-01
We build a tractable general equilibrium model to analyze the effects of cross-border data flows and pre-existing development gaps in... Read More
Xiaohong Huang,Siguang Li,Jian Ni, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00143-00
We revisit the relationship between firm competition and real efficiency in a novel setting with informational feedback from financial markets.... Read More
Yuanyu Qu,Guojun Wang, Lin William Cong (叢林) Nov 21,2024
Working Paper No.00144-00
We present the first piece of empirical evidence on blockchain adoption for environmental monitoring. Using a staggered difference-in-difference (DID) framework,... Read More
Satoshi Fukuda, Daniel Neuhann William Fuchs Nov 22,2024
Working Paper No.00145-00
We study the joint design of two prominent micro-prudential policy tools: bank regulation that enforces operational standards via rules,... Read More
Marcus Opp , Martin Oehmke Mar 27,2023
Working Paper No.00093-00
We characterize the conditions under which a socially responsible (SR) fund induces firms to reduce externalities, even when profit-seeking capital... Read More
Nicolas Figueroa, Nicolas Inostroza Apr 26,2023
Working Paper No.00097-00
A liquidity-constrained asset owner designs an asset-backed security to raise funds from an informed liquidity supplier. Information insensitive securities reduce... Read More
Nicolas Inostroza Apr 26,2023
Working Paper No.00098-00
How much information about financial institutions' balance sheets should regulators pass on to the market? To minimize the probability of... Read More
Yu An Apr 30,2023
Working Paper No.00099-00
I introduce a new approach, model, and definition for analyzing demand effects in asset pricing. My approach generalizes arbitrage pricing,... Read More