Working Papers and Current Projects

Banking - Liquidity, Crises, Systemic Risk, Regulation, Diversification of Loan Portfolios

(NEW) "Monetary Easing and Financial Instability" (with Guillaume Plantin), October 2016, revised January 2017
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(NEW) "In the Shadow of Banks: Wealth Management Products and Bank Risk" (with Jun 'QJ' Qian and Zhishu Yang), November 2016
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(NEW) "Bank Use of Sovereign CDS in the Eurozone Crisis: Hedging and Risk Incentives" with Yalin Gunduz and Timothy Johnson, November 2016
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"Lender of Last Resort versus Buyer of Last Resort - Evidence from the European Sovereign Debt Crisis" (with Diane Pierret and Sascha Steffen), March 2016, revised July 2016
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"Whatever it takes: The Real Effects of Unconventional Monetary Policy" (with Tim Eisert, Christian Eufinger and Christian Hirsch), November 2015, revised January 2017
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- Covered in the New York Times (August 19, 2016)

"Does the Lack of Financial Stability Impair the Transmission of Monetary Policy?" (with Bjorn Imbierowicz, Sascha Steffen and Daniel Teichmann), November 2015, being revised for resubmission to the Journal of Financial Economics
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"Real Effects of the Sovereign Debt Crises in Europe: Evidence from Syndicated Loans" (with Tim Eisert, Christian Eufinger and Christian Hirsch), May 2014, revised April 2016, being revised for resubmission to the Review of Financial Studies
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"On Reaching for Yield and the Coexistence of Bubbles and Negative Bubbles" (with Hassan Naqvi), June 2015 version, revised June 2016
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"Risk Sharing and the Creation of Systemic Risk" (with Aaditya Iyer and Rangarajan K Sundaram), January 2015, revised November 2016
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"Government Guarantees and Bank Vulnerability During a Crisis: Evidence from an Emerging Market" (with Nirupama Kulkarni), November 2015, revised January 2017
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"The End of Market Discipline? Investor Expectations of Implicit State Guarantees" (with D. Anginer and A.J. Warburton), June 2014, revised May 2016, being revised for resubmission to the Journal of Finance
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"Dividends and Bank Capital in the Financial Crisis of 2007-09" (with Irvind Gujral, Nirupama Kulkarni and Hyun Shin), March 2009, revised February 2012, being revised for resubmission to the Critical Finance Review
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Corporate Finance - Cash Management, Incentive Compensation, Bankruptcy Systems, Private Equity and Corporate Governance

"Competition for Managers and Corporate Governance" (with Marc Gabarro and Paolo Volpin), March 2010, revised October 2016
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Asset Pricing - Causes and Effects of Time-variations in Liquidity, Credit Risk, Disclosure and Insider Trading

"Foreign Funds Flows and Stock Returns: Evidence from an Emerging Market" (with Ravi Anshuman and Kiran Kumar), June 2015, revised November 2016
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