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Details about Jeremy Stein

Homepage:http://post.economics.harvard.edu/faculty/stein/stein.html
Workplace:National Bureau of Economic Research (NBER), (more information at EDIRC)
Department of Economics, Harvard University, (more information at EDIRC)

Access statistics for papers by Jeremy Stein.

Last updated 2024-07-04. Update your information in the RePEc Author Service.

Short-id: pst43


Jump to Journal Articles Chapters

Working Papers

2024

  1. Economic Budgeting for Endowment-Dependent Universities
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
    See also Chapter Economic Budgeting for Endowment-Dependent Universities, NBER Chapters, National Bureau of Economic Research, Inc (2024) Downloads (2024)

2022

  1. Central Banks as Dollar Lenders of Last Resort: Implications for Regulation and Reserve Holdings
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads
  2. Monetary Policy When the Central Bank Shapes Financial-Market Sentiment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads

2020

  1. A Quantity-Driven Theory of Term Premia and Exchange Rates
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (18)

2018

  1. Banking, Trade, and the making of a Dominant Currency
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (80)

2017

  1. The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (68)

2016

  1. Credit-Market Sentiment and the Business Cycle
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (34)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) Downloads View citations (16)

2015

  1. Gradualism in Monetary Policy: A Time-Consistency Problem?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)

2014

  1. Banks as Patient Debt Investors: A speech at the American Economic Association/American Finance Association Joint Luncheon, Philadelphia, Pennsylvania, January 3, 2014
    Speech, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (1)
  2. Banks as Patient Fixed Income Investors
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) Downloads View citations (11)

    See also Journal Article Banks as patient fixed-income investors, Journal of Financial Economics, Elsevier (2015) Downloads View citations (145) (2015)
  3. Challenges for Monetary Policy Communication: a speech at the Money Marketeers of New York University, New York, New York, May 6, 2014
    Speech, Board of Governors of the Federal Reserve System (U.S.) Downloads
  4. Comments on \"Market Tantrums and Monetary Policy\": a speech at the 2014 U.S. Monetary Policy Forum, New York, New York, February 28, 2014
    Speech, Board of Governors of the Federal Reserve System (U.S.) Downloads
  5. Incorporating Financial Stability Considerations into a Monetary Policy Framework: a speech at the International Research Forum on Monetary Policy, Washington, D.C., March 21, 2014
    Speech, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (14)
  6. Reforming LIBOR and Other Financial-Market Benchmarks
    Research Papers, Stanford University, Graduate School of Business Downloads View citations (7)
  7. Welcoming Remarks: a speech at the Crowdfunding for Community Development Finance Conference, Washington, D.C., March 24, 2014
    Speech, Board of Governors of the Federal Reserve System (U.S.) Downloads

2012

  1. Dollar Funding and the Lending Behavior of Global Banks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (42)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2012) Downloads View citations (30)
  2. Monetary policy and long-term real rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads View citations (14)
    See also Journal Article Monetary policy and long-term real rates, Journal of Financial Economics, Elsevier (2015) Downloads View citations (343) (2015)

2011

  1. Liquidity regulation
    Proceedings, Federal Reserve Bank of Chicago
  2. Monetary Policy as Financial-Stability Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (48)

2008

  1. A Gap-Filling Theory of Corporate Debt Maturity Choice
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
    See also Journal Article A Gap‐Filling Theory of Corporate Debt Maturity Choice, Journal of Finance, American Finance Association (2010) Downloads View citations (99) (2010)
  2. Academic Freedom, Private-Sector Focus, and the Process of Innovation
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (211)
    Also in CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007) Downloads
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) Downloads View citations (39)
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) Downloads View citations (16)
  3. Conversations among Competitors
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (56)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) Downloads View citations (3)

    See also Journal Article Conversations among Competitors, American Economic Review, American Economic Association (2008) Downloads View citations (57) (2008)
  4. Do Hedge Funds Profit From Mutual-Fund Distress?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (43)
  5. Growth Versus Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (41)
    See also Journal Article Growth versus Margins: Destabilizing Consequences of Giving the Stock Market What It Wants, Journal of Finance, American Finance Association (2008) Downloads View citations (46) (2008)
  6. The Only Game in Town: Stock-Price Consequences of Local Bias
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (72)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) Downloads View citations (3)
    NBER Working Papers, National Bureau of Economic Research, Inc (2005) Downloads View citations (3)

    See also Journal Article The only game in town: Stock-price consequences of local bias, Journal of Financial Economics, Elsevier (2008) Downloads View citations (73) (2008)

2007

  1. Disagreement and the Stock Market
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (309)
    See also Journal Article Disagreement and the Stock Market, Journal of Economic Perspectives, American Economic Association (2007) Downloads View citations (311) (2007)

2005

  1. Investor Sentiment and Corporate Finance: Micro and Macro
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (5)
    See also Journal Article Investor Sentiment and Corporate Finance: Micro and Macro, American Economic Review, American Economic Association (2006) Downloads View citations (30) (2006)

2004

  1. Aggregate Short Interest and Market Valuations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (59)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2003) Downloads View citations (1)

    See also Journal Article Aggregate Short Interest and Market Valuations, American Economic Review, American Economic Association (2004) Downloads View citations (59) (2004)
  2. Corporate Financing Decisions When Investors Take the Path of Least Resistance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (7)
    See also Journal Article Corporate financing decisions when investors take the path of least resistance, Journal of Financial Economics, Elsevier (2007) Downloads View citations (41) (2007)
  3. Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (1)
  4. Why Are Most Funds Open-End? Competition and the Limits of Arbitrage
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)

2003

  1. Simple Forecasts and Paradigm Shifts
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research Downloads View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) Downloads View citations (9)

    See also Journal Article Simple Forecasts and Paradigm Shifts, Journal of Finance, American Finance Association (2007) Downloads View citations (60) (2007)
  2. The Neighbor's Portfolio: Word-of-Mouth Effects in the Holdings and Trade of Money Managers
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2003) Downloads View citations (30)

2002

  1. Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (73)
    Also in Proceedings, Federal Reserve Bank of Chicago (2002) View citations (21)

    See also Journal Article Does function follow organizational form? Evidence from the lending practices of large and small banks, Journal of Financial Economics, Elsevier (2005) Downloads View citations (1012) (2005)
  2. Market Liquidity as a Sentiment Indicator
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research Downloads View citations (12)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) Downloads View citations (22)

    See also Journal Article Market liquidity as a sentiment indicator, Journal of Financial Markets, Elsevier (2004) Downloads View citations (425) (2004)
  3. When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (33)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2002) Downloads View citations (10)

2001

  1. Agency, Information and Corporate Investment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (46)
    See also Chapter Agency, information and corporate investment, Handbook of the Economics of Finance, Elsevier (2003) Downloads View citations (435) (2003)
  2. Breadth of Ownership and Stock Returns
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)
    See also Journal Article Breadth of ownership and stock returns, Journal of Financial Economics, Elsevier (2002) Downloads View citations (385) (2002)
  3. Social Interaction and Stock-Market Participation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (98)

2000

  1. Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (30)
    See also Journal Article Forecasting crashes: trading volume, past returns, and conditional skewness in stock prices, Journal of Financial Economics, Elsevier (2001) Downloads View citations (577) (2001)
  2. Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (30)

1999

  1. Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (58)
    Also in Proceedings, Federal Reserve Bank of Chicago (1998) View citations (3)
  2. Differences of Opinion, Rational Arbitrage and Market Crashes
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)

1998

  1. Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (60)
    See also Journal Article Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies, Journal of Finance, American Finance Association (2000) Downloads View citations (874) (2000)

1997

  1. A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (136)
    See also Journal Article A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets, Journal of Finance, American Finance Association (1999) Downloads View citations (1458) (1999)
  2. Leverage and House-Price Dynamics in U.S. Cities
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
    See also Journal Article Leverage and House-Price Dynamics in U.S. Cities, RAND Journal of Economics, The RAND Corporation (1999) Downloads View citations (97) (1999)
  3. The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (51)
    See also Journal Article The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment, Journal of Finance, American Finance Association (2000) Downloads View citations (626) (2000)
  4. What Do a Million Banks Have to Say About the Transmission of Monetary Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (64)

1996

  1. Rational Capital Budgeting in an Irrational World
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (229)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) Downloads View citations (227)

    See also Journal Article Rational Capital Budgeting in an Irrational World, The Journal of Business, University of Chicago Press (1996) Downloads View citations (230) (1996)
  2. Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    Also in Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania (1996) Downloads View citations (4)

    See also Journal Article Risk management, capital budgeting, and capital structure policy for financial institutions: an integrated approach, Journal of Financial Economics, Elsevier (1998) Downloads View citations (335) (1998)

1995

  1. An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (48)
    See also Journal Article An Adverse-Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy, RAND Journal of Economics, The RAND Corporation (1998) Downloads View citations (407) (1998)
  2. Internal Capital Markets and the Competition for Corporate Resources
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (6)
    See also Journal Article Internal Capital Markets and the Competition for Corporate Resources, Journal of Finance, American Finance Association (1997) Downloads View citations (745) (1997)

1994

  1. Internal versus External Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (266)
  2. The Impact of Monetary Policy on Bank Balance Sheets
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (80)
    See also Journal Article The impact of monetary policy on bank balance sheets, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1995) Downloads View citations (636) (1995)
  3. Waves of Creative Destruction: Customer Bases and the Dynamics of Innovation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (2)

1993

  1. Credit conditions and the cyclical behavior of inventories
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (16)
  2. Monetary Policy and Bank Lending
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (108)
    See also Chapter Monetary Policy and Bank Lending, NBER Chapters, National Bureau of Economic Research, Inc (1994) Downloads View citations (327) (1994)
  3. Prices and Trading Volume in the Housing Market: A Model with Downpayment Effects
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (21)

1992

  1. Convertible Bonds as "Back Door" Equity Financing
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (19)
    See also Journal Article Convertible bonds as backdoor equity financing, Journal of Financial Economics, Elsevier (1992) Downloads View citations (184) (1992)
  2. Credit Conditions and the Cyclical Behavior of Inventories: A Case Studyof the 1981-82 Recession
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (3)
  3. Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (26)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (1991) View citations (3)

    See also Journal Article Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance, American Economic Review, American Economic Association (1993) Downloads View citations (863) (1993)
  4. Risk Management: Coordinating Corporate Investment and Financing Policies
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (31)
    See also Journal Article Risk Management: Coordinating Corporate Investment and Financing Policies, Journal of Finance, American Finance Association (1993) Downloads View citations (1138) (1993)

1991

  1. Shareholder Trading Practices and Corporate Investment Horizons
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (4)
  2. The Evolution of Buyout Pricing and Financial Structure
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (17)
  3. Transactional Risk, Market Crashes, and the Role of Circuit Breakers
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (75)
    See also Journal Article Transactional Risk, Market Crashes, and the Role of Circuit Breakers, The Journal of Business, University of Chicago Press (1991) Downloads View citations (72) (1991)

1990

  1. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (20)
    See also Journal Article Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation, Journal of Finance, American Finance Association (1992) Downloads View citations (436) (1992)
  2. How Risky is the Debt in Highly Leveraged Transactions? Evidence from Public Recapitalizations
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (14)

1989

  1. Exchange Rates and Foreign Direct Investment: An Imperfect Capital Markets Approach
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (33)

1988

  1. Herd behavior and investment
    Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management Downloads View citations (6)
    See also Journal Article Herd Behavior and Investment, American Economic Review, American Economic Association (1990) View citations (1103) (1990)
  2. LDC Debt: Forgiveness, Indexation, and Investment Incentives
    NBER Working Papers, National Bureau of Economic Research, Inc Downloads View citations (10)
  3. Takeover Threats and Managerial Myopia
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (506)
    See also Journal Article Takeover Threats and Managerial Myopia, Journal of Political Economy, University of Chicago Press (1988) Downloads View citations (503) (1988)

1987

  1. Informational Externalities and Welfare-Reducing Speculation
    Scholarly Articles, Harvard University Department of Economics Downloads View citations (152)
    See also Journal Article Informational Externalities and Welfare-Reducing Speculation, Journal of Political Economy, University of Chicago Press (1987) Downloads View citations (155) (1987)

Journal Articles

2021

  1. Can Policy Tame the Credit Cycle?
    IMF Economic Review, 2021, 69, (1), 5-22 Downloads View citations (12)

2016

  1. The Demand for Short-Term, Safe Assets and Financial Stability: Some Evidence and Implications for Central Bank Policies
    International Journal of Central Banking, 2016, 12, (4), 307-333 Downloads View citations (34)

2015

  1. Banks as patient fixed-income investors
    Journal of Financial Economics, 2015, 117, (3), 449-469 Downloads View citations (145)
    See also Working Paper Banks as Patient Fixed Income Investors, Finance and Economics Discussion Series (2014) Downloads View citations (8) (2014)
  2. Monetary policy and long-term real rates
    Journal of Financial Economics, 2015, 115, (3), 429-448 Downloads View citations (343)
    See also Working Paper Monetary policy and long-term real rates, Finance and Economics Discussion Series (2012) Downloads View citations (14) (2012)

2013

  1. Aligning Incentives at Systemically Important Financial Institutions: A Proposal by the Squam Lake Group
    Journal of Applied Corporate Finance, 2013, 25, (4), 37-40 Downloads View citations (6)

2011

  1. A Macroprudential Approach to Financial Regulation
    Journal of Economic Perspectives, 2011, 25, (1), 3-28 Downloads View citations (496)

2010

  1. A Gap‐Filling Theory of Corporate Debt Maturity Choice
    Journal of Finance, 2010, 65, (3), 993-1028 Downloads View citations (99)
    See also Working Paper A Gap-Filling Theory of Corporate Debt Maturity Choice, NBER Working Papers (2008) Downloads View citations (3) (2008)
  2. The Squam Lake Report: Fixing the Financial System
    Journal of Applied Corporate Finance, 2010, 22, (3), 8-21 Downloads View citations (120)

2009

  1. Presidential Address: Sophisticated Investors and Market Efficiency
    Journal of Finance, 2009, 64, (4), 1517-1548 Downloads View citations (141)

2008

  1. Conversations among Competitors
    American Economic Review, 2008, 98, (5), 2150-62 Downloads View citations (57)
    See also Working Paper Conversations among Competitors, Scholarly Articles (2008) Downloads View citations (56) (2008)
  2. Gestão do risco: coordenação dos investimentos corporativos e das políticas de financiamento
    RAE - Revista de Administração de Empresas, 2008, 48, (1) Downloads
  3. Growth versus Margins: Destabilizing Consequences of Giving the Stock Market What It Wants
    Journal of Finance, 2008, 63, (3), 1025-1058 Downloads View citations (46)
    See also Working Paper Growth Versus Margins: Destabilizing Consequences of Giving the Stock Market What it Wants, Scholarly Articles (2008) Downloads View citations (41) (2008)
  4. Rethinking capital regulation
    Proceedings - Economic Policy Symposium - Jackson Hole, 2008, 431-471 Downloads View citations (128)
  5. The only game in town: Stock-price consequences of local bias
    Journal of Financial Economics, 2008, 90, (1), 20-37 Downloads View citations (73)
    See also Working Paper The Only Game in Town: Stock-Price Consequences of Local Bias, Scholarly Articles (2008) Downloads View citations (72) (2008)

2007

  1. Corporate financing decisions when investors take the path of least resistance
    Journal of Financial Economics, 2007, 84, (2), 266-298 Downloads View citations (41)
    See also Working Paper Corporate Financing Decisions When Investors Take the Path of Least Resistance, NBER Working Papers (2004) Downloads View citations (7) (2004)
  2. Disagreement and the Stock Market
    Journal of Economic Perspectives, 2007, 21, (2), 109-128 Downloads View citations (311)
    See also Working Paper Disagreement and the Stock Market, Scholarly Articles (2007) Downloads View citations (309) (2007)
  3. Simple Forecasts and Paradigm Shifts
    Journal of Finance, 2007, 62, (3), 1207-1242 Downloads View citations (60)
    See also Working Paper Simple Forecasts and Paradigm Shifts, Harvard Institute of Economic Research Working Papers (2003) Downloads View citations (15) (2003)

2006

  1. Investor Sentiment and Corporate Finance: Micro and Macro
    American Economic Review, 2006, 96, (2), 147-151 Downloads View citations (30)
    See also Working Paper Investor Sentiment and Corporate Finance: Micro and Macro, NBER Working Papers (2005) Downloads View citations (5) (2005)

2005

  1. Does function follow organizational form? Evidence from the lending practices of large and small banks
    Journal of Financial Economics, 2005, 76, (2), 237-269 Downloads View citations (1012)
    See also Working Paper Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks, NBER Working Papers (2002) Downloads View citations (73) (2002)

2004

  1. Aggregate Short Interest and Market Valuations
    American Economic Review, 2004, 94, (2), 29-32 Downloads View citations (59)
    See also Working Paper Aggregate Short Interest and Market Valuations, NBER Working Papers (2004) Downloads View citations (59) (2004)
  2. Commentary on \\"Rebalancing the three pillars of Basel II.\\"
    Economic Policy Review, 2004, (Sep), 27-30 Downloads
  3. Cyclical implications of the Basel II capital standards
    Economic Perspectives, 2004, 28, (Q I), 18-31 Downloads View citations (123)
  4. Market liquidity as a sentiment indicator
    Journal of Financial Markets, 2004, 7, (3), 271-299 Downloads View citations (425)
    See also Working Paper Market Liquidity as a Sentiment Indicator, Harvard Institute of Economic Research Working Papers (2002) Downloads View citations (12) (2002)

2003

  1. Differences of Opinion, Short-Sales Constraints, and Market Crashes
    The Review of Financial Studies, 2003, 16, (2), 487-525 Downloads View citations (374)

2002

  1. Breadth of ownership and stock returns
    Journal of Financial Economics, 2002, 66, (2-3), 171-205 Downloads View citations (385)
    See also Working Paper Breadth of Ownership and Stock Returns, NBER Working Papers (2001) Downloads View citations (14) (2001)
  2. Does bank capital matter for monetary transmission? commentary
    Economic Policy Review, 2002, 8, (May), 267-270 Downloads View citations (6)

2001

  1. Forecasting crashes: trading volume, past returns, and conditional skewness in stock prices
    Journal of Financial Economics, 2001, 61, (3), 345-381 Downloads View citations (577)
    See also Working Paper Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices, NBER Working Papers (2000) Downloads View citations (30) (2000)

2000

  1. Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies
    Journal of Finance, 2000, 55, (1), 265-295 Downloads View citations (874)
    See also Working Paper Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies, NBER Working Papers (1998) Downloads View citations (60) (1998)
  2. Cashflow-at-Risk and Financial Policy for Electricity Companies in the New World Order
    The Electricity Journal, 2000, 13, (10), 15-20 Downloads View citations (1)
  3. Herd Behavior and Investment: Reply
    American Economic Review, 2000, 90, (3), 705-706 Downloads View citations (14)
  4. The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment
    Journal of Finance, 2000, 55, (6), 2537-2564 Downloads View citations (626)
    See also Working Paper The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment, NBER Working Papers (1997) Downloads View citations (51) (1997)
  5. What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?
    American Economic Review, 2000, 90, (3), 407-428 Downloads View citations (1729)

1999

  1. A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets
    Journal of Finance, 1999, 54, (6), 2143-2184 Downloads View citations (1458)
    See also Working Paper A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets, NBER Working Papers (1997) Downloads View citations (136) (1997)
  2. Leverage and House-Price Dynamics in U.S. Cities
    RAND Journal of Economics, 1999, 30, (3), 498-514 Downloads View citations (97)
    See also Working Paper Leverage and House-Price Dynamics in U.S. Cities, NBER Working Papers (1997) Downloads View citations (4) (1997)

1998

  1. A NEW APPROACH TO CAPITAL BUDGETING FOR FINANCIAL INSTITUTIONS
    Journal of Applied Corporate Finance, 1998, 11, (2), 59-69 Downloads View citations (10)
  2. An Adverse-Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy
    RAND Journal of Economics, 1998, 29, (3), 466-486 Downloads View citations (407)
    See also Working Paper An Adverse Selection Model of Bank Asset and Liability Management with Implications for the Transmission of Monetary Policy, NBER Working Papers (1995) Downloads View citations (48) (1995)
  3. Risk management, capital budgeting, and capital structure policy for financial institutions: an integrated approach
    Journal of Financial Economics, 1998, 47, (1), 55-82 Downloads View citations (335)
    See also Working Paper Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach, NBER Working Papers (1996) Downloads View citations (6) (1996)

1997

  1. Internal Capital Markets and the Competition for Corporate Resources
    Journal of Finance, 1997, 52, (1), 111-33 Downloads View citations (745)
    See also Working Paper Internal Capital Markets and the Competition for Corporate Resources, NBER Working Papers (1995) Downloads View citations (6) (1995)
  2. The role of banks in monetary policy: a survey with implications for the European Monetary Union
    Economic Perspectives, 1997, 22, (Sep), 2-18 Downloads View citations (108)

1996

  1. Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance: Reply
    American Economic Review, 1996, 86, (1), 310-14 Downloads View citations (84)
  2. Rational Capital Budgeting in an Irrational World
    The Journal of Business, 1996, 69, (4), 429-55 Downloads View citations (230)
    See also Working Paper Rational Capital Budgeting in an Irrational World, Scholarly Articles (1996) Downloads View citations (229) (1996)

1995

  1. The impact of monetary policy on bank balance sheets
    Carnegie-Rochester Conference Series on Public Policy, 1995, 42, (1), 151-195 Downloads View citations (636)
    See also Working Paper The Impact of Monetary Policy on Bank Balance Sheets, NBER Working Papers (1994) Downloads View citations (80) (1994)

1993

  1. Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance
    American Economic Review, 1993, 83, (1), 78-98 Downloads View citations (863)
    See also Working Paper Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance, NBER Working Papers (1992) Downloads View citations (26) (1992)
  2. Risk Management: Coordinating Corporate Investment and Financing Policies
    Journal of Finance, 1993, 48, (5), 1629-58 Downloads View citations (1138)
    See also Working Paper Risk Management: Coordinating Corporate Investment and Financing Policies, NBER Working Papers (1992) Downloads View citations (31) (1992)
  3. THE EVOLUTION OF BUYOUT PRICING AND FINANCIAL STRUCTURE (OR, WHAT WENT WRONG) IN THE 1980s
    Journal of Applied Corporate Finance, 1993, 6, (1), 72-88 Downloads View citations (96)

1992

  1. Convertible bonds as backdoor equity financing
    Journal of Financial Economics, 1992, 32, (1), 3-21 Downloads View citations (184)
    See also Working Paper Convertible Bonds as "Back Door" Equity Financing, NBER Working Papers (1992) Downloads View citations (19) (1992)
  2. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
    Journal of Finance, 1992, 47, (4), 1461-84 Downloads View citations (436)
    See also Working Paper Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation, NBER Working Papers (1990) Downloads View citations (20) (1990)

1991

  1. Stock Price Distributions with Stochastic Volatility: An Analytic Approach
    The Review of Financial Studies, 1991, 4, (4), 727-52 Downloads View citations (501)
  2. Transactional Risk, Market Crashes, and the Role of Circuit Breakers
    The Journal of Business, 1991, 64, (4), 443-62 Downloads View citations (72)
    See also Working Paper Transactional Risk, Market Crashes, and the Role of Circuit Breakers, Scholarly Articles (1991) Downloads View citations (75) (1991)

1990

  1. Herd Behavior and Investment
    American Economic Review, 1990, 80, (3), 465-79 View citations (1103)
    See also Working Paper Herd behavior and investment, Working papers (1988) Downloads View citations (6) (1988)
  2. How risky is the debt in highly leveraged transactions?
    Journal of Financial Economics, 1990, 27, (1), 215-245 Downloads View citations (28)

1989

  1. Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements
    American Economic Review, 1989, 79, (1), 32-42 Downloads View citations (168)

1988

  1. Employee opportunism and redundancy in firms
    Journal of Economic Behavior & Organization, 1988, 10, (4), 401-414 Downloads View citations (9)
  2. Takeover Threats and Managerial Myopia
    Journal of Political Economy, 1988, 96, (1), 61-80 Downloads View citations (503)
    See also Working Paper Takeover Threats and Managerial Myopia, Scholarly Articles (1988) Downloads View citations (506) (1988)
  3. The Task Force Report: The Reasoning behind the Recommendations
    Journal of Economic Perspectives, 1988, 2, (3), 3-23 Downloads View citations (38)

1987

  1. Informational Externalities and Welfare-Reducing Speculation
    Journal of Political Economy, 1987, 95, (6), 1123-45 Downloads View citations (155)
    See also Working Paper Informational Externalities and Welfare-Reducing Speculation, Scholarly Articles (1987) Downloads View citations (152) (1987)

1981

  1. Numerical studies on the Anderson localization problem
    Physica A: Statistical Mechanics and its Applications, 1981, 106, (1), 326-343 Downloads

Chapters

2024

  1. Economic Budgeting for Endowment-Dependent Universities
    A chapter in Financing Institutions of Higher Education, 2024 Downloads
    See also Working Paper Economic Budgeting for Endowment-Dependent Universities, National Bureau of Economic Research, Inc (2024) Downloads (2024)

2023

  1. Comment on "Aggregate Lending and Modern Financial Intermediation: Why Bank Balance Sheet Models Are Miscalibrated"
    A chapter in NBER Macroeconomics Annual 2023, volume 38, 2023, pp 288-292 Downloads

2014

  1. Regulating Large Financial Institutions
    Chapter 10 in What Have We Learned? Macroeconomic Policy After the Crisis, 2014, vol. 1, pp 135-142 View citations (5)

2011

  1. Comment on "A Fistful of Dollars: Lobbying and the Financial Crisis"
    A chapter in NBER Macroeconomics Annual 2011, Volume 26, 2011, pp 231-235 View citations (1)

2003

  1. Agency, information and corporate investment
    Chapter 02 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 111-165 Downloads View citations (435)
    See also Working Paper Agency, Information and Corporate Investment, National Bureau of Economic Research, Inc (2001) Downloads View citations (46) (2001)

1994

  1. Monetary Policy and Bank Lending
    A chapter in Monetary Policy, 1994, pp 221-261 Downloads View citations (327)
    See also Working Paper Monetary Policy and Bank Lending, National Bureau of Economic Research, Inc (1993) Downloads View citations (108) (1993)
 
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