Details about Efraim Benmelech

Access statistics for papers by Efraim Benmelech.

Last updated 2023-03-10. Update your information in the RePEc Author Service.

Short-id: pbe459

Working Papers

2024

1. The Benefits and Costs of Secured Debt
   NBER Working Papers, National Bureau of Economic Research, Inc

2023

2. Bank Branch Density and Bank Runs
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
3. Who Benefits From The Export-Import Bank Aid?
   NBER Working Papers, National Bureau of Economic Research, Inc

2022

4. Fertility and Savings: The Effect of China’s Two-Child Policy on Household Savings
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
5. Robots and Firm Investment
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)

2021

6. Private and Social Returns to R&D: Drug Development and Demographics
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
   See also Journal Article Private and Social Returns to R&D: Drug Development and Demographics, AEA Papers and Proceedings, American Economic Association (2021) View citations (2) (2021)
7. The Resilience of the U.S. Corporate Bond Market During Financial Crises
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)

2020

8. Civic Capital and Social Distancing during the COVID-19 Pandemic
   Working Papers, Becker Friedman Institute for Research In Economics View citations (56)
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2020) View citations (44)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (52)
9. Secured Credit Spreads
   Working Papers, Becker Friedman Institute for Research In Economics View citations (3)
10. The Decline of Secured Debt
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
11. The Determinants of Fiscal and Monetary Policies During the Covid-19 Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
12. The Secured Credit Premium and the Issuance of Secured Debt
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2018

13. Debt, Information, and Illiquidity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
14. Strong Employers and Weak Employees: How Does Employer Concentration Affect Wages?
    Working Papers, U.S. Census Bureau, Center for Economic Studies View citations (117)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2018) View citations (114)

2017

15. Credit Market Freezes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
    See also Journal Article Credit Market Freezes, NBER Macroeconomics Annual, University of Chicago Press (2018) View citations (1) (2018)
    Chapter Credit Market Freezes, NBER Chapters, National Bureau of Economic Research, Inc (2017) View citations (2) (2017)
16. Financial Frictions and Employment during the Great Depression
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (15)
    See also Journal Article Financial frictions and employment during the Great Depression, Journal of Financial Economics, Elsevier (2019) View citations (75) (2019)
17. Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)

2016

18. The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles, The Quarterly Journal of Economics, President and Fellows of Harvard College (2017) View citations (60) (2017)
19. What Explains the Flow of Foreign Fighters to ISIS?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)

2014

20. Military CEOs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article Military CEOs, Journal of Financial Economics, Elsevier (2015) View citations (18) (2015)
21. The Agglomeration of Bankruptcy
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    See also Journal Article The Agglomeration of Bankruptcy, The Review of Financial Studies, Society for Financial Studies (2019) View citations (6) (2019)

2012

22. An Empirical Analysis of the Fed's Term Auction Facility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
23. Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (43)
24. Repossession and the Democratization of Credit
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Repossession and the Democratization of Credit, The Review of Financial Studies, Society for Financial Studies (2014) View citations (19) (2014)

2011

25. Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis, Journal of International Economics, Elsevier (2013) View citations (31) (2013)
26. Financing Labor
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (18)
27. Negotiating with Labor Under Financial Distress
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article Negotiating with Labor under Financial Distress, The Review of Corporate Finance Studies, Society for Financial Studies (2012) View citations (50) (2012)
28. Securitization without Adverse Selection: The Case of CLOs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Journal Article Securitization without adverse selection: The case of CLOs, Journal of Financial Economics, Elsevier (2012) View citations (103) (2012)

2010

29. Bankruptcy and the Collateral Channel
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article Bankruptcy and the Collateral Channel, Journal of Finance, American Finance Association (2011) View citations (118) (2011)
30. Counter-Suicide-Terrorism: Evidence from House Demolitions
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
31. Credit Traps
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article Credit Traps, American Economic Review, American Economic Association (2012) View citations (30) (2012)
32. Economic Conditions and the Quality of Suicide Terrorism
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2010) View citations (29)
33. Vintage Capital and Creditor Protection
    NBER Working Papers, National Bureau of Economic Research, Inc
    See also Journal Article Vintage capital and creditor protection, Journal of Financial Economics, Elsevier (2011) View citations (25) (2011)

2009

34. The Alchemy of CDO Credit Ratings
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (99)
    See also Journal Article The alchemy of CDO credit ratings, Journal of Monetary Economics, Elsevier (2009) View citations (104) (2009)
35. The Credit Rating Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (92)
    See also Chapter The Credit Rating Crisis, NBER Chapters, National Bureau of Economic Research, Inc (2010) View citations (39) (2010)
36. The Economic Cost of Harboring Terrorism
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article The Economic Cost of Harboring Terrorism, Journal of Conflict Resolution, Peace Science Society (International) (2010) View citations (23) (2010)

2008

37. Collateral Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article Collateral pricing, Journal of Financial Economics, Elsevier (2009) View citations (52) (2009)
38. Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (82)
    See also Journal Article Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines, The Quarterly Journal of Economics, President and Fellows of Harvard College (2008) View citations (76) (2008)
39. Stock-Based Compensation and CEO (Dis)Incentives
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) View citations (1)
    See also Journal Article Stock-Based Compensation and CEO (Dis)Incentives, The Quarterly Journal of Economics, President and Fellows of Harvard College (2010) View citations (109) (2010)

2007

40. Attack Assignments in Terror Organizations and The Productivity of Suicide Bombers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (9)
41. The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century, Journal of Finance, American Finance Association (2010) View citations (98) (2010)

2004

42. Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation, The Quarterly Journal of Economics, President and Fellows of Harvard College (2005) View citations (131) (2005)

Journal Articles

2021

1. Civic capital and social distancing during the Covid-19 pandemic☆
   Journal of Public Economics, 2021, 193, (C) View citations (68)
2. Private and Social Returns to R&D: Drug Development and Demographics
   AEA Papers and Proceedings, 2021, 111, 336-40 View citations (2)
   See also Working Paper Private and Social Returns to R&D: Drug Development and Demographics, NBER Working Papers (2021) View citations (2) (2021)

2019

3. Financial frictions and employment during the Great Depression
   Journal of Financial Economics, 2019, 133, (3), 541-563 View citations (75)
   See also Working Paper Financial Frictions and Employment during the Great Depression, NBER Working Papers (2017) View citations (15) (2017)
4. The Agglomeration of Bankruptcy
   The Review of Financial Studies, 2019, 32, (7), 2541-2586 View citations (6)
   See also Working Paper The Agglomeration of Bankruptcy, NBER Working Papers (2014) View citations (12) (2014)

2018

5. Credit Market Freezes
   NBER Macroeconomics Annual, 2018, 32, (1), 493 - 526 View citations (1)
   See also Chapter Credit Market Freezes, NBER Chapters, 2017, 493-523 (2017) View citations (2) (2017)
   Working Paper Credit Market Freezes, NBER Working Papers (2017) View citations (2) (2017)

2017

6. The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles
   The Quarterly Journal of Economics, 2017, 132, (1), 317-365 View citations (60)
   See also Working Paper The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles, NBER Working Papers (2016) View citations (8) (2016)

2015

7. Military CEOs
   Journal of Financial Economics, 2015, 117, (1), 43-59 View citations (18)
   See also Working Paper Military CEOs, NBER Working Papers (2014) View citations (5) (2014)

2014

8. Repossession and the Democratization of Credit
   The Review of Financial Studies, 2014, 27, (9), 2661-2689 View citations (19)
   See also Working Paper Repossession and the Democratization of Credit, NBER Working Papers (2012) View citations (7) (2012)

2013

9. Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis
   Journal of International Economics, 2013, 89, (2), 485-494 View citations (31)
   Also in Proceedings, 2010, (Oct) (2010) View citations (11)
   See also Working Paper Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis, NBER Working Papers (2011) View citations (6) (2011)

2012

10. Credit Traps
    American Economic Review, 2012, 102, (6), 3004-32 View citations (30)
    See also Working Paper Credit Traps, NBER Working Papers (2010) View citations (1) (2010)
11. Negotiating with Labor under Financial Distress
    The Review of Corporate Finance Studies, 2012, 1, (1), 28-67 View citations (50)
    See also Working Paper Negotiating with Labor Under Financial Distress, NBER Working Papers (2011) View citations (3) (2011)
12. Securitization without adverse selection: The case of CLOs
    Journal of Financial Economics, 2012, 106, (1), 91-113 View citations (103)
    See also Working Paper Securitization without Adverse Selection: The Case of CLOs, NBER Working Papers (2011) View citations (4) (2011)

2011

13. Bankruptcy and the Collateral Channel
    Journal of Finance, 2011, 66, (2), 337-378 View citations (118)
    See also Working Paper Bankruptcy and the Collateral Channel, NBER Working Papers (2010) (2010)
14. Vintage capital and creditor protection
    Journal of Financial Economics, 2011, 99, (2), 308-332 View citations (25)
    See also Working Paper Vintage Capital and Creditor Protection, NBER Working Papers (2010) (2010)

2010

15. Stock-Based Compensation and CEO (Dis)Incentives
    The Quarterly Journal of Economics, 2010, 125, (4), 1769-1820 View citations (109)
    See also Working Paper Stock-Based Compensation and CEO (Dis)Incentives, NBER Working Papers (2008) View citations (4) (2008)
16. The Economic Cost of Harboring Terrorism
    Journal of Conflict Resolution, 2010, 54, (2), 331-353 View citations (23)
    See also Working Paper The Economic Cost of Harboring Terrorism, NBER Working Papers (2009) View citations (8) (2009)
17. The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century
    Journal of Finance, 2010, 65, (3), 1029-1073 View citations (98)
    See also Working Paper The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century, NBER Working Papers (2007) View citations (7) (2007)

2009

18. Asset Salability and Debt Maturity: Evidence from Nineteenth-Century American Railroads
    The Review of Financial Studies, 2009, 22, (4), 1545-1584 View citations (85)
19. Collateral pricing
    Journal of Financial Economics, 2009, 91, (3), 339-360 View citations (52)
    See also Working Paper Collateral Pricing, NBER Working Papers (2008) View citations (1) (2008)
20. The alchemy of CDO credit ratings
    Journal of Monetary Economics, 2009, 56, (5), 617-634 View citations (104)
    See also Working Paper The Alchemy of CDO Credit Ratings, NBER Working Papers (2009) View citations (99) (2009)

2008

21. Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines
    The Quarterly Journal of Economics, 2008, 123, (4), 1635-1677 View citations (76)
    See also Working Paper Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines, NBER Working Papers (2008) View citations (82) (2008)

2007

22. Human Capital and the Productivity of Suicide Bombers
    Journal of Economic Perspectives, 2007, 21, (3), 223-238 View citations (73)

2005

23. Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation
    The Quarterly Journal of Economics, 2005, 120, (3), 1121-1154 View citations (131)
    See also Working Paper Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation, NBER Working Papers (2004) View citations (14) (2004)

Chapters

2017

1. Credit Market Freezes
   A chapter in NBER Macroeconomics Annual 2017, volume 32, 2017, pp 493-523 View citations (2)
   See also Working Paper Credit Market Freezes, National Bureau of Economic Research, Inc (2017) View citations (2) (2017)
   Journal Article Credit Market Freezes, University of Chicago Press (2018) View citations (1) (2018)

2010

2. The Credit Rating Crisis
   A chapter in NBER Macroeconomics Annual 2009, Volume 24, 2010, pp 161-207 View citations (39)
   See also Working Paper The Credit Rating Crisis, National Bureau of Economic Research, Inc (2009) View citations (92) (2009)