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1.
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We develop a model of political cycles driven by time-varying risk aversion. Agents choose to work in the public or private sector and to vote Democratic or Republican. I [...]
12 October 2020 |
Finance |
Article |
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2.
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This is the replication package for "Optimal Bank Regulation in the Presence of Credit and Run Risk," published by the Journal of Political Economy in 20 [...]
22 June 2023 |
Finance; Macroeconomics |
Dataset |
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3.
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We modify the 1983 Diamond and Dybvig model so that banks offer liquidity services to depositors, raise equity funding, make risky loans, and invest in safe, liquid asset [...]
09 February 2024 |
Finance; Macroeconomics |
Article |
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4.
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We conduct a large-scale, nondeceptive field experiment to elicit preferences for government participation in China's venture capital and private equity market. Our main [...]
07 December 2023 |
Entrepreneurship; Finance |
Article |
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5.
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A combustion air management and emission control system injects supplemental air directly into combustion chambers of a diesel engine in order to reduce total particulate [...]
16 January 2001 |
Physics; Finance |
Patent |
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6.
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An emission control system for reducing total particulates and NOX emissions from the exhaust of a diesel engine includes an air supply system that supplies oxygen enrich [...]
02 May 2000 |
Finance; Accounting; Physics |
Patent |
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7.
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An oxygen-enriched air intake control system for an internal combustion engine includes air directing apparatus to control the air flow into the intake of the engine. Dur [...]
10 June 1997 |
Accounting; Physics; Finance |
Patent |
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8.
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What are “deep uncertainties” and how should their presence influence prudent decisions? To address these questions, we bring ideas from robust control theory into st [...]
23 October 2023 |
Kenneth C. Griffin Department of Economics; Finance; Macroeconomics; Statistics |
Article |
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9.
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An air supply control system for selectively supplying ambient air, oxygen enriched air and nitrogen enriched air to an intake of an internal combustion engine includes a [...]
22 July 1997 |
Physics; Finance; Accounting |
Patent |
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10.
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The 2022 Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was awarded to Ben S. Bernanke, Douglas W. Diamond, and Philip H. Dybvig “for research o [...]
26 July 2023 |
Finance |
Article |
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11.
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We provide a lower-bound estimate of the undetected share of corporate fraud. To identify the hidden part of the “iceberg,” we exploit Arthur Andersen’s demise, whi [...]
05 January 2023 |
Entrepreneurship; Finance |
Article |
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12.
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We argue the revenue potential from increasing tax rates on capital gains may be substantially greater than previously understood. First, many prior studies focus primari [...]
2022-05 |
Entrepreneurship; Finance |
Article |
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13.
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Consumers rely on the price changes of goods in their grocery bundles when forming expectations about aggregate inflation. We use micro data that uniquely match individua [...]
19 March 2021 |
Finance |
Article |
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14.
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We study how different forms of communication influence inflation expectations in a randomized controlled trial using nearly 20,000 US individuals. We elicit individuals [...]
29 March 2022 |
Finance |
Article |
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15.
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We examine how policymakers react to a pandemic with uncertainty around key epidemiological and economic policy parameters by embedding a macroeconomic SIR model in a rob [...]
06 January 2023 |
Finance |
Article |
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16.
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This paper obtains a measure-theoretic restriction that must be satisfied by a prior probability measure for posteriors to be computed in limited time. Specifically, it i [...]
12 December 2022 |
Finance |
Article |
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17.
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A decision maker is averse to not knowing a prior over a set of restricted structured models (ambiguity) and suspects that each structured model is misspecified. The deci [...]
12 January 2022 |
Kenneth C. Griffin Department of Economics; Finance; Macroeconomics; Statistics; Social Sciences |
Article |
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18.
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We develop an asset pricing model with endogenous corporate policies that explains how inflation jointly affects real asset prices and corporate default risk. Our model i [...]
06 June 2022 |
Finance |
Article |
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19.
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We use the COVID shock to study the direct and interactive effects of several forms of corporate flexibility on short- and long-term real business plans. We find that i) [...]
09 April 2022 |
Finance |
Article |
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20.
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Modern investors face a high-dimensional prediction problem: thousands of observable variables are potentially relevant for forecasting. We reassess the conventional wisd [...]
26 May 2022 |
Finance |
Article |
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21.
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Climate change poses an important policy challenge for governments around the world. The challenge is made all that much more difficult because of the multitude of potent [...]
17 January 2022 |
Kenneth C. Griffin Department of Economics; Finance; Macroeconomics; Statistics; Social Sciences |
Article |
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22.
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We study asset pricing implications of a revealing and tractable formulation of smooth ambiguity investor preferences in a continuous-time environment. Investors do not o [...]
30 June 2022 |
Kenneth C. Griffin Department of Economics; Finance; Macroeconomics; Statistics; Social Sciences |
Article |
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23.
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Traditional capital structure theory trades off tax savings of debt against bankruptcy costs. Combining elements of this theory with a model of the control role of debt c [...]
1994 |
Finance |
Article |
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24.
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Using a simplified version of the model developed in his 'Financial Intermediation and Delegated Monitoring,' the author explains why investors, instead of lending direct [...]
1996 |
Finance |
Article |
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25.
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When a bank is a relationship lender, its financial health affects its borrowers’ access to credit. If regulators or depositors might close a bank, it will take any act [...]
2001 |
Finance |
Article |
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