Details about Deborah Lucas

Homepage:	http://mitsloan.mit.edu/faculty/detail.php?in_spseqno=41235&co_list=F
Postal address:	Sloan School of Management MIT
Workplace:	Sloan School of Management, Massachusetts Institute of Technology (MIT), (more information at EDIRC) National Bureau of Economic Research (NBER), (more information at EDIRC)

Access statistics for papers by Deborah Lucas.

Last updated 2024-11-09. Update your information in the RePEc Author Service.

Short-id: plu94

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Working Papers

2023

1. Evaluating the Costs of Government Credit Support Programs during COVID-19: International Evidence
   IMF Working Papers, International Monetary Fund

2013

2. Technical Review Panel for the Pension Insurance Modeling System (PIMS)
   Working Papers, University of Michigan, Michigan Retirement Research Center View citations (1)

2011

3. An Evaluation of Large-Scale Mortgage Refinancing Programs: Working Paper 2011-04
   Working Papers, Congressional Budget Office View citations (11)

2008

4. The Student Loan Consolidation Option
   Working Papers, Human Capital and Economic Opportunity Working Group
   See also Journal Article The student loan consolidation option, Journal of Public Economics, Elsevier (2019) (2019)

2007

5. Guaranteed Versus Direct Lending: The Case of Student Loans: Working Paper 2007-09
   Working Papers, Congressional Budget Office View citations (3)
6. The Student Loan Consolidation Option: An Analysis of an Exotic Financial Derivative: Working Paper 2007-05
   Working Papers, Congressional Budget Office View citations (5)
7. Valuing & Hedging: Defined Benefit Pension Obligations - The Role of Stocks Revisited
   Money Macro and Finance (MMF) Research Group Conference 2006, Money Macro and Finance Research Group View citations (18)

2006

8. Who holds the toxic waste? an investigation of CMO holdings
   Proceedings, Federal Reserve Bank of Chicago View citations (1)
   See also Journal Article Who holds the toxic waste? An investigation of CMO holdings, Policy Discussion Papers, Federal Reserve Bank of Cleveland (2007) View citations (1) (2007)

2004

9. Valuing Federal Loans and Loan Guarantees Using Options-Pricing Methods: Technical Paper 2004-12
   Working Papers, Congressional Budget Office

1995

10. External Financing and Insurance Cycles
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (4)
    See also Chapter External Financing and Insurance Cycles, NBER Chapters, National Bureau of Economic Research, Inc (1998) (1998)

1993

11. Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)
    See also Journal Article Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing, Journal of Political Economy, University of Chicago Press (1996) View citations (568) (1996)

1989

12. Equity Issues and Stock Price Dynamics
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
    See also Journal Article Equity Issues and Stock Price Dynamics, Journal of Finance, American Finance Association (1990) View citations (219) (1990)
13. The Variability of Velocity in Cash-In-Advance Models
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article The Variability of Velocity in Cash-in-Advance Models, Journal of Political Economy, University of Chicago Press (1991) View citations (88) (1991)
14. Understanding Stock Price Behavior around the Time of Equity Issues
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (13)
    See also Chapter Understanding Stock Price Behavior around the Time of Equity Issues, NBER Chapters, National Bureau of Economic Research, Inc (1990) View citations (43) (1990)

1988

15. The Effect of Information Releases on the Pricing and Timing of Equity Issues: Theory and Evidence
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

1987

16. Bank Financing and Investment Decisions with Asymmetric Information
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)
17. Bank Portfolio Choice with Private Information About Loan Quality: Theory and Implications for Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Bank portfolio choice with private information about loan quality: Theory and implications for regulation, Journal of Banking & Finance, Elsevier (1987) View citations (7) (1987)

Journal Articles

2024

1. How Much Do Guarantees and Bailouts Cost the Government?
   Policy Hub, 2024, 2024, (3), 29 View citations (1)

2023

2. COVID-19 Credit Policies around the World: Size, Scope, Costs, and Consequences
   Brookings Papers on Economic Activity, 2023, 54, (1 (Spring)), 289-345
3. Introduction to the ARFE Theme on the Social Discount Rate
   Annual Review of Financial Economics, 2023, 15, (1), 115-125
4. Reflections on What Financial Economics Can and Cannot Teach Us About the Social Discount Rate
   Annual Review of Financial Economics, 2023, 15, (1), 185-195

2019

5. Measuring the Cost of Bailouts
   Annual Review of Financial Economics, 2019, 11, (1), 85-108 View citations (21)
6. The student loan consolidation option
   Journal of Public Economics, 2019, 174, (C), 1-12
   See also Working Paper The Student Loan Consolidation Option, Working Papers (2008) (2008)

2016

7. Credit Policy as Fiscal Policy
   Brookings Papers on Economic Activity, 2016, 47, (1 (Spring)), 1-57 View citations (18)

2015

8. Joint risk of DB pension underfunding and sponsor termination: incorporating option-based projections and valuations into PIMS*
   Journal of Pension Economics and Finance, 2015, 14, (2), 172-185 View citations (1)

2014

9. Evaluating the cost of government credit support: the Oecd context
   (Existence of an equilibrium for a competitive economy)
   Economic Policy, 2014, 29, (79), 553-597 View citations (6)
10. Evaluating the government as a source of systemic risk
    Journal of Financial Perspectives, 2014, 2, (3), 45-58 View citations (3)

2012

11. First Discussant Comment on “The Future of U.S. Housing Finance Reform”
    The B.E. Journal of Macroeconomics, 2012, 12, (3), 8
12. Valuation of Government Policies and Projects
    Annual Review of Financial Economics, 2012, 4, (1), 39-58 View citations (14)

2010

13. Is mark-to-market accounting destabilizing? Analysis and implications for policy
    Journal of Monetary Economics, 2010, 57, (1), 64-75 View citations (48)

2009

14. How Should Public Pension Plans Invest?
    American Economic Review, 2009, 99, (2), 527-32 View citations (40)

2007

15. Comment on "Global demographic trends and social security reform" by Orazio Attanasio, Sagiri Kitao, and Giovanni Violante
    Journal of Monetary Economics, 2007, 54, (1), 199-204 View citations (7)
16. Who holds the toxic waste? An investigation of CMO holdings
    Policy Discussion Papers, 2007, (Jun) View citations (1)
    See also Working Paper Who holds the toxic waste? an investigation of CMO holdings, Proceedings (2006) View citations (1) (2006)

2006

17. An Editors' Comment on "Lessons from the JMCB Archive" by B.D. McCullough, Kerry Anne McGeary, and Teresa D. Harrison
    Journal of Money, Credit and Banking, 2006, 38, (4), 1109
18. An options-based approach to evaluating the risk of Fannie Mae and Freddie Mac
    Journal of Monetary Economics, 2006, 53, (1), 155-176 View citations (37)
19. Commentary on \\"On asset-liability matching and federal deposit and pension insurance\\"
    Review, 2006, 88, (Jul), 331-336

2003

20. Modeling the Macro-Effects of Sustained Fiscal Policy Imbalances: How Much Does Rationality Matter?
    Review of Economic Dynamics, 2003, 6, (4), 789-805 View citations (1)

2001

21. Investing Public Pensions in the Stock Market: Implications for Risk Sharing, Capital Formation and Public Policy in the Developed and Developing World
    International Review of Finance, 2001, 2, (3), 179-202 View citations (2)

2000

22. Portfolio Choice and Asset Prices: The Importance of Entrepreneurial Risk
    Journal of Finance, 2000, 55, (3), 1163-1198 View citations (489)
23. Portfolio Choice in the Presence of Background Risk
    Economic Journal, 2000, 110, (460), 1-26 View citations (249)
24. Stock prices and fundamentals
    Proceedings, 2000, (Apr) View citations (47)
    See also Chapter Stock Prices and Fundamentals, NBER Chapters, 2000, 213-264 (2000) View citations (25) (2000)

1999

25. Price and interest rate dynamics induced by multiperiod contracts
    The North American Journal of Economics and Finance, 1999, 10, (2), 315-338 View citations (1)

1998

26. Shareholder Heterogeneity, Adverse Selection, and Payout Policy
    Journal of Financial and Quantitative Analysis, 1998, 33, (2), 233-253 View citations (25)

1997

27. MARKET FRICTIONS, SAVINGS BEHAVIOR, AND PORTFOLIO CHOICE
    Macroeconomic Dynamics, 1997, 1, (1), 76-101 View citations (172)

1996

28. Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing
    Journal of Political Economy, 1996, 104, (3), 443-87 View citations (568)
    See also Working Paper Evaluating the Effects of Incomplete Markets on Risk Sharing and Asset Pricing, NBER Working Papers (1993) View citations (19) (1993)

1995

29. Financial Intermediation and Monetary Policy in a General Equilibrium Banking Model: Comment
    Journal of Money, Credit and Banking, 1995, 27, (4), 1316-19 View citations (1)
30. The importance of investor heterogeneity and financial market imperfections for the behavior of asset prices
    Carnegie-Rochester Conference Series on Public Policy, 1995, 42, (1), 1-32 View citations (41)

1994

31. A "Barter" Theory of Bank Regulation and Credit Allocation: Comment
    Journal of Money, Credit and Banking, 1994, 26, (3), 706-09 View citations (1)
32. Asset pricing with undiversifiable income risk and short sales constraints: Deepening the equity premium puzzle
    Journal of Monetary Economics, 1994, 34, (3), 325-341 View citations (137)

1992

33. Bank Financing and Investment Decisions with Asymmetric Information about Loan Quality
    RAND Journal of Economics, 1992, 23, (1), 86-105 View citations (32)
34. Equity Issues with Time-Varying Asymmetric Information
    Journal of Financial and Quantitative Analysis, 1992, 27, (3), 397-417 View citations (49)
35. The effects of incomplete insurance markets and trading costs in a consumption-based asset pricing model
    Journal of Economic Dynamics and Control, 1992, 16, (3-4), 601-620 View citations (51)

1991

36. Foundations of the cash-in-advance model: A review essay
    Journal of Monetary Economics, 1991, 27, (3), 487-493 View citations (1)
37. The Effect of Information Releases on the Pricing and Timing of Equity Issues
    The Review of Financial Studies, 1991, 4, (4), 685-708 View citations (127)
38. The Variability of Velocity in Cash-in-Advance Models
    Journal of Political Economy, 1991, 99, (2), 358-84 View citations (88)
    See also Working Paper The Variability of Velocity in Cash-In-Advance Models, NBER Working Papers (1989) View citations (6) (1989)

1990

39. Equity Issues and Stock Price Dynamics
    Journal of Finance, 1990, 45, (4), 1019-43 View citations (219)
    See also Working Paper Equity Issues and Stock Price Dynamics, NBER Working Papers (1989) View citations (1) (1989)

1987

40. Bank portfolio choice with private information about loan quality: Theory and implications for regulation
    Journal of Banking & Finance, 1987, 11, (3), 473-497 View citations (7)
    See also Working Paper Bank Portfolio Choice with Private Information About Loan Quality: Theory and Implications for Regulation, NBER Working Papers (1987) View citations (7) (1987)

Books

2010

1. Measuring and Managing Federal Financial Risk
   NBER Books, National Bureau of Economic Research, Inc View citations (58)

Edited books

2010

1. Measuring and Managing Federal Financial Risk
   National Bureau of Economic Research Books, University of Chicago Press View citations (58)

Chapters

2024

1. Comment on "Inflation's Impact on American Households" 2
   A chapter in NBER Macroeconomics Annual 2024, volume 39, 2024

2021

2. Policy Rx for the Economy: Cash or Credit?
   Chapter 10 in Impact of COVID-19 on Asian Economies and Policy Responses, 2021, pp 65-69

2020

3. A Fair Value Approach to Valuing Public Infrastructure Projects and the Risk Transfer in Public-Private Partnerships
   A chapter in Economic Analysis and Infrastructure Investment, 2020, pp 369-402

2011

4. Comments on “Where Do We Go from Here?”
   Chapter 31 in The International Financial Crisis Have the Rules of Finance Changed?, 2011, pp 415-419

2010

5. Introduction to "Measuring and Managing Federal Financial Risk"
   A chapter in Measuring and Managing Federal Financial Risk, 2010, pp 1-12 View citations (12)
6. Valuing Government Guarantees: Fannie and Freddie Revisited
   A chapter in Measuring and Managing Federal Financial Risk, 2010, pp 131-154 View citations (15)

2000

7. Stock Prices and Fundamentals
   A chapter in NBER Macroeconomics Annual 1999, Volume 14, 2000, pp 213-264 View citations (25)
   See also Journal Article Stock prices and fundamentals, Federal Reserve Bank of San Francisco (2000) View citations (47) (2000)

1998

8. External Financing and Insurance Cycles
   A chapter in The Economics of Property-Casualty Insurance, 1998, pp 5-28
   See also Working Paper External Financing and Insurance Cycles, National Bureau of Economic Research, Inc (1995) View citations (4) (1995)

1990

9. Understanding Stock Price Behavior around the Time of Equity Issues
   A chapter in Asymmetric Information, Corporate Finance, and Investment, 1990, pp 257-278 View citations (43)
   See also Working Paper Understanding Stock Price Behavior around the Time of Equity Issues, National Bureau of Economic Research, Inc (1989) View citations (13) (1989)

1975

10. Guaranteed versus Direct Lending: The Case of Student Loans
    A chapter in Measuring and Managing Federal Financial Risk, 1975, pp 163-205 View citations (2)
11. The Cost of Risk to the Government and Its Implications for Federal Budgeting
    A chapter in Measuring and Managing Federal Financial Risk, 1975, pp 29-54 View citations (1)

Editor

1. Journal of Money, Credit and Banking
   Blackwell Publishing