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

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Working Papers

2024

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

2022

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

2020

4. A Quantity-Driven Theory of Term Premia and Exchange Rates
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (19)

2018

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

2017

6. 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 View citations (71)

2016

7. Credit-Market Sentiment and the Business Cycle
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (35)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2015) View citations (16)

2015

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

2014

9. 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.) View citations (1)
10. Banks as Patient Fixed Income Investors
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (8)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2014) View citations (12)
    See also Journal Article Banks as patient fixed-income investors, Journal of Financial Economics, Elsevier (2015) View citations (155) (2015)
11. 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.)
12. 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.)
13. 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.) View citations (14)
14. Reforming LIBOR and Other Financial-Market Benchmarks
    Research Papers, Stanford University, Graduate School of Business View citations (7)
15. 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.)

2012

16. Dollar Funding and the Lending Behavior of Global Banks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (42)
    Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2012) View citations (30)
17. Monetary policy and long-term real rates
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (14)
    See also Journal Article Monetary policy and long-term real rates, Journal of Financial Economics, Elsevier (2015) View citations (360) (2015)

2011

18. Liquidity regulation
    Proceedings, Federal Reserve Bank of Chicago
19. Monetary Policy as Financial-Stability Regulation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (46)

2008

20. A Gap-Filling Theory of Corporate Debt Maturity Choice
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
    See also Journal Article A Gap‐Filling Theory of Corporate Debt Maturity Choice, Journal of Finance, American Finance Association (2010) View citations (106) (2010)
21. Academic Freedom, Private-Sector Focus, and the Process of Innovation
    Scholarly Articles, Harvard University Department of Economics View citations (216)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (39)
    CEPR Discussion Papers, C.E.P.R. Discussion Papers (2007)
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) View citations (21)
22. Conversations among Competitors
    Scholarly Articles, Harvard University Department of Economics View citations (56)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2007) View citations (3)
    See also Journal Article Conversations among Competitors, American Economic Review, American Economic Association (2008) View citations (58) (2008)
23. Do Hedge Funds Profit From Mutual-Fund Distress?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (44)
24. Growth Versus Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
    Scholarly Articles, Harvard University Department of Economics View citations (42)
    See also Journal Article Growth versus Margins: Destabilizing Consequences of Giving the Stock Market What It Wants, Journal of Finance, American Finance Association (2008) View citations (47) (2008)
25. The Only Game in Town: Stock-Price Consequences of Local Bias
    Scholarly Articles, Harvard University Department of Economics View citations (74)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2005) View citations (3)
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2005) View citations (4)
    See also Journal Article The only game in town: Stock-price consequences of local bias, Journal of Financial Economics, Elsevier (2008) View citations (75) (2008)

2007

26. Disagreement and the Stock Market
    Scholarly Articles, Harvard University Department of Economics View citations (318)
    See also Journal Article Disagreement and the Stock Market, Journal of Economic Perspectives, American Economic Association (2007) View citations (327) (2007)

2005

27. Investor Sentiment and Corporate Finance: Micro and Macro
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article Investor Sentiment and Corporate Finance: Micro and Macro, American Economic Review, American Economic Association (2006) View citations (31) (2006)

2004

28. Aggregate Short Interest and Market Valuations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (68)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2003) View citations (1)
    See also Journal Article Aggregate Short Interest and Market Valuations, American Economic Review, American Economic Association (2004) View citations (68) (2004)
29. Corporate Financing Decisions When Investors Take the Path of Least Resistance
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (7)
    See also Journal Article Corporate financing decisions when investors take the path of least resistance, Journal of Financial Economics, Elsevier (2007) View citations (43) (2007)
30. Growth vs. Margins: Destabilizing Consequences of Giving the Stock Market What it Wants
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (1)
31. Why Are Most Funds Open-End? Competition and the Limits of Arbitrage
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)

2003

32. Simple Forecasts and Paradigm Shifts
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (15)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2003) View citations (9)
    See also Journal Article Simple Forecasts and Paradigm Shifts, Journal of Finance, American Finance Association (2007) View citations (65) (2007)
33. 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 View citations (2)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2003) View citations (31)

2002

34. Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (74)
    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) View citations (1059) (2005)
35. Market Liquidity as a Sentiment Indicator
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research View citations (13)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (2002) View citations (22)
    See also Journal Article Market liquidity as a sentiment indicator, Journal of Financial Markets, Elsevier (2004) View citations (446) (2004)
36. When Does the Market Matter? Stock Prices and the Investment of Equity-Dependent Firms
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (33)
    Also in Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research (2002) View citations (13)

2001

37. Agency, Information and Corporate Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (45)
    See also Chapter Agency, information and corporate investment, Handbook of the Economics of Finance, Elsevier (2003) View citations (459) (2003)
38. Breadth of Ownership and Stock Returns
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)
    See also Journal Article Breadth of ownership and stock returns, Journal of Financial Economics, Elsevier (2002) View citations (398) (2002)
39. Social Interaction and Stock-Market Participation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (98)

2000

40. Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices
    NBER Working Papers, National Bureau of Economic Research, Inc 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) View citations (641) (2001)
41. Information Production and Capital Allocation: Decentralized vs. Hierarchical Firms
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (30)

1999

42. Banks as Liquidity Providers: An Explanation for the Co-Existence of Lending and Deposit-Taking
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (58)
    Also in Proceedings, Federal Reserve Bank of Chicago (1998) View citations (4)
43. Differences of Opinion, Rational Arbitrage and Market Crashes
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)

1998

44. Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (59)
    See also Journal Article Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies, Journal of Finance, American Finance Association (2000) View citations (901) (2000)

1997

45. A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (134)
    See also Journal Article A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets, Journal of Finance, American Finance Association (1999) View citations (1514) (1999)
46. Leverage and House-Price Dynamics in U.S. Cities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
    See also Journal Article Leverage and House-Price Dynamics in U.S. Cities, RAND Journal of Economics, The RAND Corporation (1999) View citations (98) (1999)
47. The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment
    NBER Working Papers, National Bureau of Economic Research, Inc 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) View citations (638) (2000)
48. What Do a Million Banks Have to Say About the Transmission of Monetary Policy?
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (62)

1996

49. Rational Capital Budgeting in an Irrational World
    Scholarly Articles, Harvard University Department of Economics View citations (229)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (232)
    See also Journal Article Rational Capital Budgeting in an Irrational World, The Journal of Business, University of Chicago Press (1996) View citations (236) (1996)
50. Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach
    Center for Financial Institutions Working Papers, Wharton School Center for Financial Institutions, University of Pennsylvania View citations (4)
    Also in NBER Working Papers, National Bureau of Economic Research, Inc (1996) View citations (6)
    See also Journal Article Risk management, capital budgeting, and capital structure policy for financial institutions: an integrated approach, Journal of Financial Economics, Elsevier (1998) View citations (345) (1998)

1995

51. 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 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) View citations (419) (1998)
52. Internal Capital Markets and the Competition for Corporate Resources
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (6)
    See also Journal Article Internal Capital Markets and the Competition for Corporate Resources, Journal of Finance, American Finance Association (1997) View citations (762) (1997)

1994

53. Internal versus External Capital Markets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (274)
54. The Impact of Monetary Policy on Bank Balance Sheets
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (82)
    See also Journal Article The impact of monetary policy on bank balance sheets, Carnegie-Rochester Conference Series on Public Policy, Elsevier (1995) View citations (634) (1995)
55. Waves of Creative Destruction: Customer Bases and the Dynamics of Innovation
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (2)

1993

56. Credit conditions and the cyclical behavior of inventories
    Working Paper Series, Macroeconomic Issues, Federal Reserve Bank of Chicago View citations (16)
57. Monetary Policy and Bank Lending
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (107)
    See also Chapter Monetary Policy and Bank Lending, NBER Chapters, National Bureau of Economic Research, Inc (1994) View citations (336) (1994)
58. Prices and Trading Volume in the Housing Market: A Model with Downpayment Effects
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)

1992

59. Convertible Bonds as "Back Door" Equity Financing
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (21)
    See also Journal Article Convertible bonds as backdoor equity financing, Journal of Financial Economics, Elsevier (1992) View citations (187) (1992)
60. Credit Conditions and the Cyclical Behavior of Inventories: A Case Studyof the 1981-82 Recession
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)
61. Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance
    NBER Working Papers, National Bureau of Economic Research, Inc 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) View citations (868) (1993)
62. Risk Management: Coordinating Corporate Investment and Financing Policies
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (31)
    See also Journal Article Risk Management: Coordinating Corporate Investment and Financing Policies, Journal of Finance, American Finance Association (1993) View citations (1171) (1993)

1991

63. Shareholder Trading Practices and Corporate Investment Horizons
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (5)
64. The Evolution of Buyout Pricing and Financial Structure
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (17)
65. Transactional Risk, Market Crashes, and the Role of Circuit Breakers
    Scholarly Articles, Harvard University Department of Economics View citations (76)
    See also Journal Article Transactional Risk, Market Crashes, and the Role of Circuit Breakers, The Journal of Business, University of Chicago Press (1991) View citations (74) (1991)

1990

66. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
    NBER Working Papers, National Bureau of Economic Research, Inc 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) View citations (451) (1992)
67. How Risky is the Debt in Highly Leveraged Transactions? Evidence from Public Recapitalizations
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (14)

1989

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

1988

69. Herd behavior and investment
    Working papers, Massachusetts Institute of Technology (MIT), Sloan School of Management View citations (6)
    See also Journal Article Herd Behavior and Investment, American Economic Review, American Economic Association (1990) View citations (1136) (1990)
70. LDC Debt: Forgiveness, Indexation, and Investment Incentives
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (10)
71. Takeover Threats and Managerial Myopia
    Scholarly Articles, Harvard University Department of Economics View citations (519)
    See also Journal Article Takeover Threats and Managerial Myopia, Journal of Political Economy, University of Chicago Press (1988) View citations (542) (1988)

1987

72. Informational Externalities and Welfare-Reducing Speculation
    Scholarly Articles, Harvard University Department of Economics View citations (152)
    See also Journal Article Informational Externalities and Welfare-Reducing Speculation, Journal of Political Economy, University of Chicago Press (1987) View citations (157) (1987)

Journal Articles

2021

1. Can Policy Tame the Credit Cycle?
   IMF Economic Review, 2021, 69, (1), 5-22 View citations (13)

2016

2. 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 View citations (35)

2015

3. Banks as patient fixed-income investors
   Journal of Financial Economics, 2015, 117, (3), 449-469 View citations (155)
   See also Working Paper Banks as Patient Fixed Income Investors, Finance and Economics Discussion Series (2014) View citations (8) (2014)
4. Monetary policy and long-term real rates
   Journal of Financial Economics, 2015, 115, (3), 429-448 View citations (360)
   See also Working Paper Monetary policy and long-term real rates, Finance and Economics Discussion Series (2012) View citations (14) (2012)

2013

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

2011

6. A Macroprudential Approach to Financial Regulation
   Journal of Economic Perspectives, 2011, 25, (1), 3-28 View citations (516)

2010

7. A Gap‐Filling Theory of Corporate Debt Maturity Choice
   Journal of Finance, 2010, 65, (3), 993-1028 View citations (106)
   See also Working Paper A Gap-Filling Theory of Corporate Debt Maturity Choice, NBER Working Papers (2008) View citations (3) (2008)
8. The Squam Lake Report: Fixing the Financial System
   Journal of Applied Corporate Finance, 2010, 22, (3), 8-21 View citations (120)

2009

9. Presidential Address: Sophisticated Investors and Market Efficiency
   Journal of Finance, 2009, 64, (4), 1517-1548 View citations (149)

2008

10. Conversations among Competitors
    American Economic Review, 2008, 98, (5), 2150-62 View citations (58)
    See also Working Paper Conversations among Competitors, Scholarly Articles (2008) View citations (56) (2008)
11. Gestão do risco: coordenação dos investimentos corporativos e das políticas de financiamento
    RAE - Revista de Administração de Empresas, 2008, 48, (1)
12. Growth versus Margins: Destabilizing Consequences of Giving the Stock Market What It Wants
    Journal of Finance, 2008, 63, (3), 1025-1058 View citations (47)
    See also Working Paper Growth Versus Margins: Destabilizing Consequences of Giving the Stock Market What it Wants, Scholarly Articles (2008) View citations (42) (2008)
13. Rethinking capital regulation
    Proceedings - Economic Policy Symposium - Jackson Hole, 2008, 431-471 View citations (131)
14. The only game in town: Stock-price consequences of local bias
    Journal of Financial Economics, 2008, 90, (1), 20-37 View citations (75)
    See also Working Paper The Only Game in Town: Stock-Price Consequences of Local Bias, Scholarly Articles (2008) View citations (74) (2008)

2007

15. Corporate financing decisions when investors take the path of least resistance
    Journal of Financial Economics, 2007, 84, (2), 266-298 View citations (43)
    See also Working Paper Corporate Financing Decisions When Investors Take the Path of Least Resistance, NBER Working Papers (2004) View citations (7) (2004)
16. Disagreement and the Stock Market
    Journal of Economic Perspectives, 2007, 21, (2), 109-128 View citations (327)
    See also Working Paper Disagreement and the Stock Market, Scholarly Articles (2007) View citations (318) (2007)
17. Simple Forecasts and Paradigm Shifts
    Journal of Finance, 2007, 62, (3), 1207-1242 View citations (65)
    See also Working Paper Simple Forecasts and Paradigm Shifts, Harvard Institute of Economic Research Working Papers (2003) View citations (15) (2003)

2006

18. Investor Sentiment and Corporate Finance: Micro and Macro
    American Economic Review, 2006, 96, (2), 147-151 View citations (31)
    See also Working Paper Investor Sentiment and Corporate Finance: Micro and Macro, NBER Working Papers (2005) View citations (5) (2005)

2005

19. Does function follow organizational form? Evidence from the lending practices of large and small banks
    Journal of Financial Economics, 2005, 76, (2), 237-269 View citations (1059)
    See also Working Paper Does Function Follow Organizational Form? Evidence From the Lending Practices of Large and Small Banks, NBER Working Papers (2002) View citations (74) (2002)

2004

20. Aggregate Short Interest and Market Valuations
    American Economic Review, 2004, 94, (2), 29-32 View citations (68)
    See also Working Paper Aggregate Short Interest and Market Valuations, NBER Working Papers (2004) View citations (68) (2004)
21. Commentary on \\"Rebalancing the three pillars of Basel II.\\"
    Economic Policy Review, 2004, (Sep), 27-30
22. Cyclical implications of the Basel II capital standards
    Economic Perspectives, 2004, 28, (Q I), 18-31 View citations (125)
23. Market liquidity as a sentiment indicator
    Journal of Financial Markets, 2004, 7, (3), 271-299 View citations (446)
    See also Working Paper Market Liquidity as a Sentiment Indicator, Harvard Institute of Economic Research Working Papers (2002) View citations (13) (2002)

2003

24. Differences of Opinion, Short-Sales Constraints, and Market Crashes
    The Review of Financial Studies, 2003, 16, (2), 487-525 View citations (404)

2002

25. Breadth of ownership and stock returns
    Journal of Financial Economics, 2002, 66, (2-3), 171-205 View citations (398)
    See also Working Paper Breadth of Ownership and Stock Returns, NBER Working Papers (2001) View citations (14) (2001)
26. Does bank capital matter for monetary transmission? commentary
    Economic Policy Review, 2002, 8, (May), 267-270 View citations (6)

2001

27. Forecasting crashes: trading volume, past returns, and conditional skewness in stock prices
    Journal of Financial Economics, 2001, 61, (3), 345-381 View citations (641)
    See also Working Paper Forecasting Crashes: Trading Volume, Past Returns and Conditional Skewness in Stock Prices, NBER Working Papers (2000) View citations (30) (2000)

2000

28. Bad News Travels Slowly: Size, Analyst Coverage, and the Profitability of Momentum Strategies
    Journal of Finance, 2000, 55, (1), 265-295 View citations (901)
    See also Working Paper Bad News Travels Slowly: Size, Analyst Coverage and the Profitability of Momentum Strategies, NBER Working Papers (1998) View citations (59) (1998)
29. Cashflow-at-Risk and Financial Policy for Electricity Companies in the New World Order
    The Electricity Journal, 2000, 13, (10), 15-20 View citations (1)
30. Herd Behavior and Investment: Reply
    American Economic Review, 2000, 90, (3), 705-706 View citations (14)
31. The Dark Side of Internal Capital Markets: Divisional Rent‐Seeking and Inefficient Investment
    Journal of Finance, 2000, 55, (6), 2537-2564 View citations (638)
    See also Working Paper The Dark Side of Internal Capital Markets: Divisional Rent-Seeking and Inefficient Investment, NBER Working Papers (1997) View citations (51) (1997)
32. What Do a Million Observations on Banks Say about the Transmission of Monetary Policy?
    American Economic Review, 2000, 90, (3), 407-428 View citations (1763)

1999

33. A Unified Theory of Underreaction, Momentum Trading, and Overreaction in Asset Markets
    Journal of Finance, 1999, 54, (6), 2143-2184 View citations (1514)
    See also Working Paper A Unified Theory of Underreaction, Momentum Trading and Overreaction in Asset Markets, NBER Working Papers (1997) View citations (134) (1997)
34. Leverage and House-Price Dynamics in U.S. Cities
    RAND Journal of Economics, 1999, 30, (3), 498-514 View citations (98)
    See also Working Paper Leverage and House-Price Dynamics in U.S. Cities, NBER Working Papers (1997) View citations (5) (1997)

1998

35. A NEW APPROACH TO CAPITAL BUDGETING FOR FINANCIAL INSTITUTIONS
    Journal of Applied Corporate Finance, 1998, 11, (2), 59-69 View citations (11)
36. 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 View citations (419)
    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) View citations (48) (1995)
37. Risk management, capital budgeting, and capital structure policy for financial institutions: an integrated approach
    Journal of Financial Economics, 1998, 47, (1), 55-82 View citations (345)
    See also Working Paper Risk Management, Capital Budgeting and Capital Structure Policy for Financial Institutions: An Integrated Approach, Center for Financial Institutions Working Papers (1996) View citations (4) (1996)

1997

38. Internal Capital Markets and the Competition for Corporate Resources
    Journal of Finance, 1997, 52, (1), 111-33 View citations (762)
    See also Working Paper Internal Capital Markets and the Competition for Corporate Resources, NBER Working Papers (1995) View citations (6) (1995)
39. The role of banks in monetary policy: a survey with implications for the European Monetary Union
    Economic Perspectives, 1997, 22, (Sep), 2-18 View citations (102)

1996

40. Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance: Reply
    American Economic Review, 1996, 86, (1), 310-14 View citations (84)
41. Rational Capital Budgeting in an Irrational World
    The Journal of Business, 1996, 69, (4), 429-55 View citations (236)
    See also Working Paper Rational Capital Budgeting in an Irrational World, Scholarly Articles (1996) View citations (229) (1996)

1995

42. The impact of monetary policy on bank balance sheets
    Carnegie-Rochester Conference Series on Public Policy, 1995, 42, (1), 151-195 View citations (634)
    See also Working Paper The Impact of Monetary Policy on Bank Balance Sheets, NBER Working Papers (1994) View citations (82) (1994)

1993

43. Monetary Policy and Credit Conditions: Evidence from the Composition of External Finance
    American Economic Review, 1993, 83, (1), 78-98 View citations (868)
    See also Working Paper Monetary Policy and Credit Conditions: Evidence From the Composition of External Finance, NBER Working Papers (1992) View citations (26) (1992)
44. Risk Management: Coordinating Corporate Investment and Financing Policies
    Journal of Finance, 1993, 48, (5), 1629-58 View citations (1171)
    See also Working Paper Risk Management: Coordinating Corporate Investment and Financing Policies, NBER Working Papers (1992) View citations (31) (1992)
45. 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 View citations (99)

1992

46. Convertible bonds as backdoor equity financing
    Journal of Financial Economics, 1992, 32, (1), 3-21 View citations (187)
    See also Working Paper Convertible Bonds as "Back Door" Equity Financing, NBER Working Papers (1992) View citations (21) (1992)
47. Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation
    Journal of Finance, 1992, 47, (4), 1461-84 View citations (451)
    See also Working Paper Herd on the Street: Informational Inefficiencies in a Market with Short-Term Speculation, NBER Working Papers (1990) View citations (20) (1990)

1991

48. Stock Price Distributions with Stochastic Volatility: An Analytic Approach
    The Review of Financial Studies, 1991, 4, (4), 727-52 View citations (522)
49. Transactional Risk, Market Crashes, and the Role of Circuit Breakers
    The Journal of Business, 1991, 64, (4), 443-62 View citations (74)
    See also Working Paper Transactional Risk, Market Crashes, and the Role of Circuit Breakers, Scholarly Articles (1991) View citations (76) (1991)

1990

50. Herd Behavior and Investment
    American Economic Review, 1990, 80, (3), 465-79 View citations (1136)
    See also Working Paper Herd behavior and investment, Working papers (1988) View citations (6) (1988)
51. How risky is the debt in highly leveraged transactions?
    Journal of Financial Economics, 1990, 27, (1), 215-245 View citations (28)

1989

52. Cheap Talk and the Fed: A Theory of Imprecise Policy Announcements
    American Economic Review, 1989, 79, (1), 32-42 View citations (171)

1988

53. Employee opportunism and redundancy in firms
    Journal of Economic Behavior & Organization, 1988, 10, (4), 401-414 View citations (9)
54. Takeover Threats and Managerial Myopia
    Journal of Political Economy, 1988, 96, (1), 61-80 View citations (542)
    See also Working Paper Takeover Threats and Managerial Myopia, Scholarly Articles (1988) View citations (519) (1988)
55. The Task Force Report: The Reasoning behind the Recommendations
    Journal of Economic Perspectives, 1988, 2, (3), 3-23 View citations (40)

1987

56. Informational Externalities and Welfare-Reducing Speculation
    Journal of Political Economy, 1987, 95, (6), 1123-45 View citations (157)
    See also Working Paper Informational Externalities and Welfare-Reducing Speculation, Scholarly Articles (1987) View citations (152) (1987)

1981

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

Chapters

2024

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

2023

2. 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

2014

3. 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

4. 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

5. Agency, information and corporate investment
   Chapter 02 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 111-165 View citations (459)
   See also Working Paper Agency, Information and Corporate Investment, National Bureau of Economic Research, Inc (2001) View citations (45) (2001)

1994

6. Monetary Policy and Bank Lending
   A chapter in Monetary Policy, 1994, pp 221-261 View citations (336)
   See also Working Paper Monetary Policy and Bank Lending, National Bureau of Economic Research, Inc (1993) View citations (107) (1993)