Details about Zhiguo He

Access statistics for papers by Zhiguo He.

Last updated 2023-03-18. Update your information in the RePEc Author Service.

Short-id: phe657

Working Papers

2023

1. The Stock Connect to China
   NBER Working Papers, National Bureau of Economic Research, Inc

2022

2. Agency MBS as Safe Assets
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
3. China's Financial System and Economy: A Review
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
4. Intermediation via Credit Chains
   NBER Working Papers, National Bureau of Economic Research, Inc
5. Investing in Bank Lending Technology: IT Spending in Banking
   NBER Working Papers, National Bureau of Economic Research, Inc
6. Open Banking: Credit Market Competition When Borrowers Own the Data
   Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University View citations (1)
   Also in Working Papers, Becker Friedman Institute for Research In Economics (2020) View citations (10)
   Cowles Foundation Discussion Papers, Cowles Foundation for Research in Economics, Yale University (2020) View citations (11)
   NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (11)
   See also Journal Article in Journal of Financial Economics (2023)
7. Share Pledging in China: Funding Listed Firms or Funding Entrepreneurship?
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
8. What Gets Measured Gets Managed: Investment and the Cost of Capital
   NBER Working Papers, National Bureau of Economic Research, Inc
9. Zoning for Profits: How Public Finance Shapes Land Supply in China
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)

2021

10. An Economic Model of Consensus on Distributed Ledgers
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
11. Sovereign Debt Ratchets and Welfare Destruction
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

2020

12. Treasury Inconvenience Yields during the COVID-19 Crisis
    Working Papers, Becker Friedman Institute for Research In Economics View citations (34)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2020) View citations (37)
    See also Journal Article in Journal of Financial Economics (2022)
13. Valuation of Long-Term Property Rights under Political Uncertainty
    NBER Working Papers, National Bureau of Economic Research, Inc
    Also in Working Papers, Becker Friedman Institute for Research In Economics (2020)

2019

14. Chinese Bond Market and Interbank Market
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
15. Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article in Review of Financial Studies (2022)
16. Decentralized Mining in Centralized Pools
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Journal Article in Review of Financial Studies (2021)
17. Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)

2018

18. Blockchain Disruption and Smart Contracts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (41)
    See also Journal Article in Review of Financial Studies (2019)
19. Intermediary Asset Pricing and the Financial Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    See also Journal Article in Annual Review of Financial Economics (2018)
20. Leverage-Induced Fire Sales and Stock Market Crashes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (22)
21. The Financing of Local Government in the People’s Republic of China: Stimulus Loan Wanes and Shadow Banking Waxes
    ADBI Working Papers, Asian Development Bank Institute View citations (7)

2017

22. The Financing of Local Government in China: Stimulus Loan Wanes and Shadow Banking Waxes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    See also Journal Article in Journal of Financial Economics (2020)

2016

23. A Model of Safe Asset Determination
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (16)
    See also Journal Article in American Economic Review (2019)
24. Dynamic Debt Maturity
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)
    See also Journal Article in Review of Financial Studies (2016)
25. Inefficient investment waves
    LSE Research Online Documents on Economics, London School of Economics and Political Science, LSE Library View citations (28)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2012) View citations (7)
    See also Journal Article in Econometrica (2016)
26. Intermediary Asset Pricing: New Evidence from Many Asset Classes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (20)
    See also Journal Article in Journal of Financial Economics (2017)
27. Leverage Dynamics without Commitment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article in Journal of Finance (2021)
28. Optimal Long-Term Contracting with Learning
    FRB Atlanta Working Paper, Federal Reserve Bank of Atlanta View citations (4)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (7)
    See also Journal Article in Review of Financial Studies (2017)
29. What Makes US Government Bonds Safe Assets?
    Research Papers, Stanford University, Graduate School of Business View citations (20)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2016) View citations (20)
    See also Journal Article in American Economic Review (2016)

2015

30. A Macroeconomic Framework for Quantifying Systemic Risk
    Swiss Finance Institute Research Paper Series, Swiss Finance Institute View citations (4)
    Also in Research Papers, Stanford University, Graduate School of Business (2015) View citations (6)
    Working Paper Research, National Bank of Belgium (2012) View citations (45)
    NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (62)
    2013 Meeting Papers, Society for Economic Dynamics (2013) View citations (7)
    See also Journal Article in American Economic Journal: Macroeconomics (2019)
31. A Model of the Reserve Asset
    Research Papers, Stanford University, Graduate School of Business View citations (11)

2014

32. Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (8)
    See also Journal Article in Review of Financial Studies (2018)

2013

33. Uncertainty, risk, and incentives: theory and evidence
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (2)
    See also Journal Article in Management Science (2014)

2012

34. A Theory of Debt Maturity: The Long and Short of Debt Overhang
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (12)
    See also Journal Article in Journal of Finance (2014)
35. Debt Financing in Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article in American Economic Review (2012)
36. Debt and Creative Destruction: Why Could Subsidizing Corporate Debt be Optimal?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article in Management Science (2016)
37. Endogenous Liquidity and Defaultable Bonds
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (7)
    See also Journal Article in Econometrica (2014)
38. Information Acquisition in Rumor Based Bank Runs
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    Also in 2012 Meeting Papers, Society for Economic Dynamics (2012) View citations (7)
    See also Journal Article in Journal of Finance (2016)

2011

39. Dynamic Debt Runs
    2011 Meeting Papers, Society for Economic Dynamics View citations (17)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2009) View citations (23)
    See also Journal Article in Review of Financial Studies (2012)

2010

40. Balance Sheet Adjustments in the 2008 Crisis
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (88)
41. Financing Speculative Booms
    Levine's Working Paper Archive, David K. Levine View citations (2)
42. Intermediary Asset Pricing
    2010 Meeting Papers, Society for Economic Dynamics View citations (24)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (21)
    See also Journal Article in American Economic Review (2013)
43. Rollover Risk and Credit Risk
    2010 Meeting Papers, Society for Economic Dynamics View citations (5)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2010) View citations (4)
    See also Journal Article in Journal of Finance (2012)

2009

44. A Model of Capital and Crises
    2009 Meeting Papers, Society for Economic Dynamics View citations (11)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2008) View citations (35)

2008

45. Delegated Asset Management, Investment Mandates, and Capital Immobility
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article in Journal of Financial Economics (2013)
46. Dynamic agency and the q theory of investment
    2008 Meeting Papers, Society for Economic Dynamics View citations (31)
    See also Journal Article in Journal of Finance (2012)

Journal Articles

2023

1. Open banking: Credit market competition when borrowers own the data
   Journal of Financial Economics, 2023, 147, (2), 449-474 View citations (4)
   See also Working Paper (2022)

2022

2. Commonality in Credit Spread Changes: Dealer Inventory and Intermediary Distress
   Review of Financial Studies, 2022, 35, (10), 4630-4673 View citations (4)
   See also Working Paper (2019)
3. Introduction: Special Issue on China I
   Review of Finance, 2022, 26, (3), 445-447
4. Treasury inconvenience yields during the COVID-19 crisis
   Journal of Financial Economics, 2022, 143, (1), 57-79 View citations (22)
   See also Working Paper (2020)

2021

5. Decentralized Mining in Centralized Pools
   (Concentrating on the fall of the labor share)
   Review of Financial Studies, 2021, 34, (3), 1191-1235 View citations (26)
   See also Working Paper (2019)
6. Leverage Dynamics without Commitment
   Journal of Finance, 2021, 76, (3), 1195-1250 View citations (20)
   See also Working Paper (2016)

2020

7. The financing of local government in China: Stimulus loan wanes and shadow banking waxes
   Journal of Financial Economics, 2020, 137, (1), 42-71 View citations (89)
   See also Working Paper (2017)

2019

8. A Macroeconomic Framework for Quantifying Systemic Risk
   American Economic Journal: Macroeconomics, 2019, 11, (4), 1-37 View citations (56)
   See also Working Paper (2015)
9. A Model of Safe Asset Determination
   American Economic Review, 2019, 109, (4), 1230-62 View citations (46)
   See also Working Paper (2016)
10. Blockchain Disruption and Smart Contracts
    Review of Financial Studies, 2019, 32, (5), 1754-1797 View citations (152)
    See also Working Paper (2018)

2018

11. Intermediary Asset Pricing and the Financial Crisis
    Annual Review of Financial Economics, 2018, 10, (1), 173-197 View citations (39)
    See also Working Paper (2018)
12. Quantifying Liquidity and Default Risks of Corporate Bonds over the Business Cycle
    Review of Financial Studies, 2018, 31, (3), 852-897 View citations (35)
    See also Working Paper (2014)

2017

13. Intermediary asset pricing: New evidence from many asset classes
    Journal of Financial Economics, 2017, 126, (1), 1-35 View citations (210)
    See also Working Paper (2016)
14. Optimal Long-Term Contracting with Learning
    Review of Financial Studies, 2017, 30, (6), 2006-2065 View citations (20)
    See also Working Paper (2016)

2016

15. Debt and Creative Destruction: Why Could Subsidizing Corporate Debt Be Optimal?
    Management Science, 2016, 62, (2), 303-325 View citations (5)
    See also Working Paper (2012)
16. Dynamic Debt Maturity
    Review of Financial Studies, 2016, 29, (10), 2677-2736 View citations (30)
    See also Working Paper (2016)
17. Inefficient Investment Waves
    Econometrica, 2016, 84, 735-780 View citations (24)
    See also Working Paper (2016)
18. Information Acquisition in Rumor‐Based Bank Runs
    Journal of Finance, 2016, 71, (3), 1113-1158 View citations (22)
    See also Working Paper (2012)
19. What Makes US Government Bonds Safe Assets?
    American Economic Review, 2016, 106, (5), 519-23 View citations (20)
    See also Working Paper (2016)

2014

20. A Theory of Debt Maturity: The Long and Short of Debt Overhang
    Journal of Finance, 2014, 69, (2), 719-762 View citations (120)
    See also Working Paper (2012)
21. Endogenous Liquidity and Defaultable Bonds
    Econometrica, 2014, 82, (4), 1443-1508 View citations (96)
    See also Working Paper (2012)
22. Uncertainty, Risk, and Incentives: Theory and Evidence
    Management Science, 2014, 60, (1), 206-226 View citations (12)
    See also Working Paper (2013)

2013

23. Delegated asset management, investment mandates, and capital immobility
    Journal of Financial Economics, 2013, 107, (2), 239-258 View citations (15)
    See also Working Paper (2008)
24. Intermediary Asset Pricing
    American Economic Review, 2013, 103, (2), 732-70 View citations (483)
    See also Working Paper (2010)

2012

25. Debt Financing in Asset Markets
    American Economic Review, 2012, 102, (3), 88-94 View citations (7)
    See also Working Paper (2012)
26. Dynamic Agency and the q Theory of Investment
    Journal of Finance, 2012, 67, (6), 2295-2340 View citations (128)
    See also Working Paper (2008)
27. Dynamic Compensation Contracts with Private Savings
    Review of Financial Studies, 2012, 25, (5), 1494-1549 View citations (34)
28. Dynamic Debt Runs
    Review of Financial Studies, 2012, 25, (6), 1799-1843 View citations (126)
    See also Working Paper (2011)
29. Rollover Risk and Credit Risk
    Journal of Finance, 2012, 67, (2), 391-430 View citations (200)
    See also Working Paper (2010)

2011

30. A model of dynamic compensation and capital structure
    Journal of Financial Economics, 2011, 100, (2), 351-366 View citations (43)

2010

31. Balance Sheet Adjustments during the 2008 Crisis
    IMF Economic Review, 2010, 58, (1), 118-156 View citations (98)

2009

32. Optimal Executive Compensation when Firm Size Follows Geometric Brownian Motion
    Review of Financial Studies, 2009, 22, (2), 859-892 View citations (53)
33. The Sale of Multiple Assets with Private Information
    Review of Financial Studies, 2009, 22, (11), 4787-4820 View citations (9)

Edited books

2021

1. Impact of COVID-19 on Asian Economies and Policy Responses
   World Scientific Books, World Scientific Publishing Co. Pte. Ltd.

Chapters

2021

1. Dealing With a Liquidity Crisis: Economic and Financial Policies in China During the Coronavirus Outbreak
   Chapter 9 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 55-63
2. Economic Effects of Lockdown in China
   Chapter 1 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 3-10 View citations (3)

Editor

1. The Review of Asset Pricing Studies
   Oxford University Press