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
Alberto Martin,Sergio Mayordomo, Victoria Vanasco Nov 14,2023
Working Paper No.00108-01
Governments often support private credit through guarantee schemes, which compen-sate private lenders in the event of borrower default. A key... Read More
Jian Li. , Zhiguo He Jun 03,2022
Working Paper No.00078-00
The modern financial system features complicated financial intermediation chains, with each layer performing a certain degree of credit/maturity transformation. We... Read More
Catherine Casamatta,Rui xiong, Matthieu Bouvard Nov 21,2022
Working Paper No.00087-00
We show that by lending to merchants and monitoring them, an e-commerce platform can price-discriminate between merchants with high and... Read More
Batchimeg Sambalaibat Jul 07,2021
Working Paper No.00072-00
I build a search model of bond and credit default swap (CDS) markets with endogenous investor participation and show that... Read More
Christian Opp Vincent Glode Nov 02,2021
Working Paper No.00062-02
We propose a model of strategic debt renegotiation in which businesses are sequentially interconnected through their liabilities. This financing structure,... Read More
Gabrielle Demange, Jean-Edouard Colliard Oct 08,2020
Working Paper No.00064-00
In over-the-counter markets for assets such as bonds or securitizations, large volumes can be split into smaller pieces and gradually... 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
Semih Uslu Mar 27,2019
Working Paper No.00050-00
I develop a search-and-bargaining model of endogenous intermediation in over-the-counter markets. Unlike the existing work, my model allows for rich... Read More
Published: Econometrica, 2019, 87(6), 2079-2140Bilge Yilmaz,Bilge Yilmaz, Yaron Leitner Nov 21,2017
Working Paper No.00016-00
We study a situation in which a regulator relies on risk models that banks produce in order to regulate them.... Read More
Published: Journal of Financial Economics, 2019, 131(2), 251-268