Maren Vairo, Piotr Dworczak Aug 11,2023
Working Paper No.00125-00
Financial over-the-counter markets have been traditionally very opaque. Recent regulation promotes transparency in some of these markets by lowering search... Read More
Thomas Philippon, Cecilia Parlatore Sep 25,2023
Working Paper No.00074-01
We study the optimal design of stress scenarios. A principal manages the unknown risk exposures of agents by asking them to... Read More
Piero Gottardi,Humberto Moreira, William Fuchs Nov 15,2022
Working Paper No.00085-00
We consider a dynamic adverse selection model where privately informed sellers of divisible assets can choose how much of their... Read More
Alice Hsiaw, Ing-Haw Cheng Nov 15,2022
Working Paper No.00086-00
Why does misinformation persist, and how does it distort the long-run beliefs and actions of rational agents? Suppose receivers see... Read More
Qing Liu, Lucy White Andrea Buffa Nov 18,2022
Working Paper No.00073-01
Agents working together to produce a joint output care about each other’s incentives. Because real world contracts are typically private... Read More
Basil Williams Yaron Leitner Nov 17,2021
Working Paper No.00061-01
Should regulators reveal the models they use to stress test banks? In our setting, revealing leads to gaming, but secrecy... Read More
Published: Journal of Finance, 2023, 78(2), 1055-1095Ivan Marinovic , Martin Szydlowski Sep 22,2020
Working Paper No.00045-01
We study the disclosure policy of a regulator overseeing a monitor with reputation concerns, such as a bank or... Read More
Efstathios Avdis Oct 08,2020
Working Paper No.00051-02
Long-held intuition dictates that information-based trade is impossible without exogenous noise. Risk seekers can resolve this conundrum. Even though such... Read More
Jing Huang,Jidong Zhou, Zhiguo He Nov 24,2020
Working Paper No.00068-00
Open banking facilitates data sharing consented by customers who generate the data, with a regulatory goal of promoting competition between... Read More
Benjamin Hebert , Barney Hartman-Glaser Jan 08,2019
Working Paper No.00049-00
We model the widespread failure of contracts to share risk using available indices. A borrower and lender can share risk... Read More