Details about Peter M. DeMarzo

Access statistics for papers by Peter M. DeMarzo.

Last updated 2024-12-14. Update your information in the RePEc Author Service.

Short-id: pde650

Working Papers

2024

1. Interest Rate Risk in Banking
   Research Papers, Stanford University, Graduate School of Business
   Also in NBER Working Papers, National Bureau of Economic Research, Inc (2024)

2021

2. Contracting in Peer Networks
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2021)
3. Sovereign Debt Ratchets and Welfare Destruction
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
   See also Journal Article Sovereign Debt Ratchets and Welfare Destruction, Journal of Political Economy, University of Chicago Press (2023) View citations (1) (2023)

2017

4. The Leverage Ratchet Effect
   Discussion Paper Series of the Max Planck Institute for Research on Collective Goods, Max Planck Institute for Research on Collective Goods View citations (19)
   Also in Research Papers, Stanford University, Graduate School of Business (2013) View citations (20)
   Research Papers, Stanford University, Graduate School of Business (2017) View citations (11)
   Research Papers, Stanford University, Graduate School of Business (2015) View citations (12)
   See also Journal Article The Leverage Ratchet Effect, Journal of Finance, American Finance Association (2018) View citations (101) (2018)

2016

5. Learning, Termination, and Payout Policy in Dynamic Incentive Contracts
   Research Papers, Stanford University, Graduate School of Business View citations (21)
   See also Journal Article Learning, Termination, and Payout Policy in Dynamic Incentive Contracts, The Review of Economic Studies, Review of Economic Studies Ltd (2017) View citations (15) (2017)
6. Leverage Dynamics without Commitment
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
   See also Journal Article Leverage Dynamics without Commitment, Journal of Finance, American Finance Association (2021) View citations (28) (2021)
7. Relative Pay for Non-Relative Performance: Keeping up with the Joneses with Optimal Contracts
   CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (3)

2014

8. Finance d'entreprise
   Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers), HAL
   Also in Post-Print, HAL (2014)
9. Risking Other People's Money: Gambling, Limited Liability, and Optimal Incentives
   Research Papers, Stanford University, Graduate School of Business View citations (6)

2013

10. Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity is Not Socially Expensive
    Discussion Paper Series of the Max Planck Institute for Research on Collective Goods, Max Planck Institute for Research on Collective Goods View citations (174)

2011

11. Endogenous Information Flows and the Clustering of Announcements
    CEPR Discussion Papers, C.E.P.R. Discussion Papers View citations (73)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (1)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2008) View citations (1)
    See also Journal Article Endogenous Information Flows and the Clustering of Announcements, American Economic Review, American Economic Association (2011) View citations (73) (2011)

2010

12. Fallacies, Irrelevant Facts, and Myths in the Discussion of Capital Regulation: Why Bank Equity Is Not Expensive
    Research Papers, Stanford University, Graduate School of Business View citations (195)
    Also in Discussion Paper Series of the Max Planck Institute for Research on Collective Goods, Max Planck Institute for Research on Collective Goods (2010) View citations (193)

2008

13. Dynamic agency and the q theory of investment
    2008 Meeting Papers, Society for Economic Dynamics View citations (30)
    See also Journal Article Dynamic Agency and the q Theory of Investment, Journal of Finance, American Finance Association (2012) View citations (138) (2012)

2004

14. A Continuous-Time Agency Model of Optimal Contracting and Capital Structure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
15. Bidding With Securities: Auctions and Security Design
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (11)
    Also in Econometric Society 2004 North American Winter Meetings, Econometric Society (2004) View citations (1)
    Econometric Society 2004 North American Winter Meetings, Econometric Society (2004) View citations (4)
    See also Journal Article Bidding with Securities: Auctions and Security Design, American Economic Review, American Economic Association (2005) View citations (106) (2005)

2003

16. Persuasion bias, social influence, and uni-dimensional opinions
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (249)
    Also in Research Papers, Stanford University, Graduate School of Business (2001) View citations (11)
    See also Journal Article Persuasion Bias, Social Influence, and Unidimensional Opinions, The Quarterly Journal of Economics, President and Fellows of Harvard College (2003) View citations (353) (2003)

2000

17. A Model of Persuasion - With Implications for Financial Markets
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (4)
18. The Enforcement Policy of a Self-Regulatory Organization
    Econometric Society World Congress 2000 Contributed Papers, Econometric Society View citations (2)

1988

19. Coalitions and Sustainable Social Norms in Repeated Games
    Working Papers, Stanford - Institute for Thoretical Economics View citations (2)

Journal Articles

2023

1. Sovereign Debt Ratchets and Welfare Destruction
   Journal of Political Economy, 2023, 131, (10), 2825 - 2892 View citations (1)
   See also Working Paper Sovereign Debt Ratchets and Welfare Destruction, NBER Working Papers (2021) View citations (3) (2021)

2021

2. Leverage Dynamics without Commitment
   Journal of Finance, 2021, 76, (3), 1195-1250 View citations (28)
   See also Working Paper Leverage Dynamics without Commitment, NBER Working Papers (2016) View citations (16) (2016)
3. Portfolio Liquidity and Security Design with Private Information
   (Strategic liquidity supply and security design)
   The Review of Financial Studies, 2021, 34, (12), 5841-5885 View citations (5)

2019

4. Presidential Address: Collateral and Commitment
   Journal of Finance, 2019, 74, (4), 1587-1619 View citations (29)
5. Test Design and Minimum Standards
   American Economic Review, 2019, 109, (6), 2173-2207 View citations (9)

2018

6. The Leverage Ratchet Effect
   Journal of Finance, 2018, 73, (1), 145-198 View citations (101)
   See also Working Paper The Leverage Ratchet Effect, Discussion Paper Series of the Max Planck Institute for Research on Collective Goods (2017) View citations (19) (2017)

2017

7. Learning, Termination, and Payout Policy in Dynamic Incentive Contracts
   The Review of Economic Studies, 2017, 84, (1), 182-236 View citations (15)
   See also Working Paper Learning, Termination, and Payout Policy in Dynamic Incentive Contracts, Research Papers (2016) View citations (21) (2016)

2016

8. American Finance Association
   Journal of Finance, 2016, 71, (6), 3121-3121
9. Robust option pricing: Hannan and Blackwell meet Black and Scholes
   Journal of Economic Theory, 2016, 163, (C), 410-434 View citations (6)

2012

10. Dynamic Agency and the q Theory of Investment
    Journal of Finance, 2012, 67, (6), 2295-2340 View citations (138)
    See also Working Paper Dynamic agency and the q theory of investment, 2008 Meeting Papers (2008) View citations (30) (2008)

2011

11. Endogenous Information Flows and the Clustering of Announcements
    American Economic Review, 2011, 101, (7), 2955-79 View citations (73)
    See also Working Paper Endogenous Information Flows and the Clustering of Announcements, CEPR Discussion Papers (2011) View citations (73) (2011)

2008

12. Relative Wealth Concerns and Financial Bubbles
    The Review of Financial Studies, 2008, 21, (1), 19-50 View citations (62)

2007

13. Agency and Optimal Investment Dynamics
    The Review of Financial Studies, 2007, 20, (1), 151-188 View citations (79)
14. Optimal Long-Term Financial Contracting
    The Review of Financial Studies, 2007, 20, (6), 2079-2128 View citations (181)
15. Technological innovation and real investment booms and busts
    Journal of Financial Economics, 2007, 85, (3), 735-754 View citations (39)

2006

16. Optimal Security Design and Dynamic Capital Structure in a Continuous‐Time Agency Model
    Journal of Finance, 2006, 61, (6), 2681-2724 View citations (298)
17. Ownership Dynamics and Asset Pricing with a Large Shareholder
    Journal of Political Economy, 2006, 114, (4), 774-815 View citations (47)

2005

18. Bidding with Securities: Auctions and Security Design
    American Economic Review, 2005, 95, (4), 936-959 View citations (106)
    See also Working Paper Bidding With Securities: Auctions and Security Design, NBER Working Papers (2004) View citations (11) (2004)
19. Self-Regulation and Government Oversight
    The Review of Economic Studies, 2005, 72, (3), 687-706 View citations (40)
20. The Pooling and Tranching of Securities: A Model of Informed Intermediation
    The Review of Financial Studies, 2005, 18, (1), 1-35 View citations (291)

2003

21. Persuasion Bias, Social Influence, and Unidimensional Opinions
    The Quarterly Journal of Economics, 2003, 118, (3), 909-968 View citations (353)
    See also Working Paper Persuasion bias, social influence, and uni-dimensional opinions, LSE Research Online Documents on Economics (2003) View citations (249) (2003)

1999

22. A Liquidity-Based Model of Security Design
    Econometrica, 1999, 67, (1), 65-100 View citations (293)
23. Optimal Incentive Contracts When Agents Can Save, Borrow, and Default
    Journal of Financial Intermediation, 1999, 8, (4), 241-269 View citations (17)

1998

24. Aggregation, Determinacy, and Informational Efficiency for a Class of Economies with Asymmetric Information
    Journal of Economic Theory, 1998, 80, (1), 123-152 View citations (31)
25. On the uniqueness of fully informative rational expectations equilibria
    Economic Theory, 1999, 13, (1), 1-24 View citations (3)
26. The Optimal Enforcement of Insider Trading Regulations
    Journal of Political Economy, 1998, 106, (3), 602-632 View citations (31)

1996

27. Computing Equilibria When Asset Markets Are Incomplete
    Econometrica, 1996, 64, (1), 1-27 View citations (39)
28. Computing equilibria of GEI by relocalization on a Grassmann manifold
    Journal of Mathematical Economics, 1996, 26, (4), 479-497 View citations (23)

1995

29. Corporate Incentives for Hedging and Hedge Accounting
    The Review of Financial Studies, 1995, 8, (3), 743-71 View citations (227)

1993

30. Majority Voting and Corporate Control: The Rule of the Dominant Shareholder
    The Review of Economic Studies, 1993, 60, (3), 713-734 View citations (85)

1992

31. Coalitions, leadership, and social norms: The power of suggestion in games
    Games and Economic Behavior, 1992, 4, (1), 72-100 View citations (11)
32. Sequential Banking
    Journal of Political Economy, 1992, 100, (1), 41-61 View citations (79)

1991

33. Corporate financial hedging with proprietary information
    Journal of Economic Theory, 1991, 53, (2), 261-286 View citations (86)

1988

34. An extension of the Modigliani-Miller theorem to stochastic economies with incomplete markets and interdependent securities
    Journal of Economic Theory, 1988, 45, (2), 353-369 View citations (17)