Details about Toni Whited

Homepage:	https://toniwhited.com
Postal address:	Department of Economics University of Michigan 611 Tappan Street Ann Arbor, MI 48109
Workplace:	National Bureau of Economic Research (NBER), (more information at EDIRC) Economics Department, University of Michigan, (more information at EDIRC)

Access statistics for papers by Toni Whited.

Last updated 2024-12-21. Update your information in the RePEc Author Service.

Short-id: pwh6

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Working Papers

2024

1. Taxes Depress Corporate Borrowing: Evidence from Private Firms
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in IHS Working Paper Series, Institute for Advanced Studies (2021) View citations (3)

2023

2. Will Central Bank Digital Currency Disintermediate Banks?
   IHS Working Paper Series, Institute for Advanced Studies View citations (6)

2022

3. Information versus Investment
   NBER Working Papers, National Bureau of Economic Research, Inc
   Also in Working Papers, Becker Friedman Institute for Research In Economics (2020) View citations (1)
4. Integrating Structural and Reduced-Form Methods in Empirical Finance
   Papers, arXiv.org
   See also Journal Article Integrating Structural and Reduced-Form Methods in Empirical Finance*, Journal of Financial Econometrics, Oxford University Press (2023) View citations (1) (2023)

2020

5. Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation
   NBER Working Papers, National Bureau of Economic Research, Inc View citations (29)
   See also Journal Article Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation, Journal of Finance, American Finance Association (2022) View citations (35) (2022)

2019

6. Equity Markets and Monetary Policy
   2019 Meeting Papers, Society for Economic Dynamics

2018

7. Information Distortion, R&D, and Growth
   2018 Meeting Papers, Society for Economic Dynamics View citations (1)

2015

8. Capital Structure Misallocation
   Department of Economics Working Papers, Stony Brook University, Department of Economics View citations (3)

2014

9. Equity market misvaluation, financing, and investment
   2014 Meeting Papers, Society for Economic Dynamics View citations (3)
   Also in Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) (2013) View citations (9)
   See also Journal Article Equity Market Misvaluation, Financing, and Investment, The Review of Financial Studies, Society for Financial Studies (2016) View citations (42) (2016)

2013

10. Macroeconomic Implications of Agglomeration
    2013 Meeting Papers, Society for Economic Dynamics View citations (2)
    Also in Working Paper Series, Federal Reserve Bank of Chicago (2010) View citations (4)
    2010 Meeting Papers, Society for Economic Dynamics (2010) View citations (4)
    See also Journal Article Macroeconomic Implications of Agglomeration, Econometrica, Econometric Society (2014) View citations (42) (2014)

2007

11. Regularities
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (3)

2006

12. Testing the q-Theory of Anomalies
    2006 Meeting Papers, Society for Economic Dynamics

2004

13. Debt Dynamics
    2004 Meeting Papers, Society for Economic Dynamics View citations (12)
    See also Journal Article Debt Dynamics, Journal of Finance, American Finance Association (2005) View citations (191) (2005)

1995

14. The Effect of Uncertainty on Investment: Some Stylized Facts
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (39)
    See also Journal Article The Effect of Uncertainty on Investment: Some Stylized Facts, Journal of Money, Credit and Banking, Blackwell Publishing (1996) View citations (435) (1996)

1993

15. Internal Finance and Firm Investment
    NBER Working Papers, National Bureau of Economic Research, Inc View citations (120)
16. Some Empirical Evidence on the Relationship Between Investment and Uncertainty
    Harvard Institute of Economic Research Working Papers, Harvard - Institute of Economic Research

1990

17. Debt, liquidity constraints, and corporate investment: evidence from panel data
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (98)
    See also Journal Article Debt, Liquidity Constraints, and Corporate Investment: Evidence from Panel Data, Journal of Finance, American Finance Association (1992) View citations (656) (1992)
18. U.S. corporate leverage: developments in 1987 and 1988
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) View citations (9)
    See also Journal Article U.S. Corporate Leverage: Developments in 1987 and 1988, Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution (1990) View citations (7) (1990)

Journal Articles

2023

1. Integrating Structural and Reduced-Form Methods in Empirical Finance*
   Journal of Financial Econometrics, 2023, 21, (3), 597-615 View citations (1)
   See also Working Paper Integrating Structural and Reduced-Form Methods in Empirical Finance, Papers (2022) (2022)

2022

2. Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation
   Journal of Finance, 2022, 77, (4), 2093-2141 View citations (35)
   See also Working Paper Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation, NBER Working Papers (2020) View citations (29) (2020)
3. Parallels between structural estimation and causal inference: A discussion of Armstrong et al. (2022)
   Journal of Accounting and Economics, 2022, 74, (2) View citations (1)

2021

4. Corporate Money Demand
   (Financial innovation and the transactions demand for cash)
   The Review of Financial Studies, 2021, 34, (4), 1834-1866 View citations (10)
5. Low interest rates and risk incentives for banks with market power
   Journal of Monetary Economics, 2021, 121, (C), 155-174 View citations (12)
6. The Misallocation of Finance
   Journal of Finance, 2021, 76, (5), 2359-2407 View citations (28)

2019

7. JFE special issue on labor and finance
   Journal of Financial Economics, 2019, 133, (3), 539-540 View citations (3)
8. Labor and Capital Dynamics under Financing Frictions
   Review of Finance, 2019, 23, (2), 279-323 View citations (19)

2018

9. Are Financial Constraints Priced? Evidence from Textual Analysis
   The Review of Financial Studies, 2018, 31, (7), 2693-2728 View citations (67)
10. Estimating and Testing Dynamic Corporate Finance Models
    The Review of Financial Studies, 2018, 31, (1), 322-361 View citations (26)
11. Identification Is Not Causality, and Vice Versa
    The Review of Corporate Finance Studies, 2018, 7, (1), 1-21 View citations (14)

2017

12. Fitting the errors-in-variables model using high-order cumulants and moments
    Stata Journal, 2017, 17, (1), 116-129 View citations (9)

2016

13. Collateral, Taxes, and Leverage
    The Review of Financial Studies, 2016, 29, (6), 1453-1500 View citations (77)
14. Equity Market Misvaluation, Financing, and Investment
    The Review of Financial Studies, 2016, 29, (3), 603-654 View citations (42)
    See also Working Paper Equity market misvaluation, financing, and investment, 2014 Meeting Papers (2014) View citations (3) (2014)
15. Identification with Models and Exogenous Data Variation
    Foundations and Trends(R) in Accounting, 2016, 10, (2-4), 361-375 View citations (1)

2014

16. Agency Conflicts and Cash: Estimates from a Dynamic Model
    Journal of Finance, 2014, 69, (5), 1883-1921 View citations (115)
17. Macroeconomic Implications of Agglomeration
    Econometrica, 2014, 82, (2), 731-764 View citations (42)
    See also Working Paper Macroeconomic Implications of Agglomeration, 2013 Meeting Papers (2013) View citations (2) (2013)
18. Minimum distance estimation of the errors-in-variables model using linear cumulant equations
    Journal of Econometrics, 2014, 183, (2), 211-221 View citations (66)
19. Refinancing, profitability, and capital structure
    Journal of Financial Economics, 2014, 114, (3), 424-443 View citations (36)

2013

20. Dynamic Corporate Finance is Useful: A Comment on Welch (2013)
    Critical Finance Review, 2013, 2, (1), 173-191 View citations (5)

2012

21. Dynamic Models and Structural Estimation in Corporate Finance
    Foundations and Trends(R) in Finance, 2012, 6, (1–2), 1-163 View citations (100)
22. The real effects of delisting: Evidence from a regression discontinuity design
    Finance Research Letters, 2012, 9, (4), 183-193 View citations (12)
23. Threshold Events and Identification: A Study of Cash Shortfalls
    Journal of Finance, 2012, 67, (3), 1083-1111 View citations (40)
24. Treating Measurement Error in Tobin's q
    The Review of Financial Studies, 2012, 25, (4), 1286-1329 View citations (46)

2011

25. Capital structure dynamics and transitory debt
    Journal of Financial Economics, 2011, 99, (2), 235-261 View citations (174)

2010

26. Erratum: Measurement Error and the Relationship between Investment and q
    Journal of Political Economy, 2010, 118, (6), 1252 - 1257 View citations (4)
27. Shareholder-Manager Disagreement and Corporate Investment
    Review of Finance, 2010, 15, (2), 277-300 View citations (1)
28. Which Firms Follow the Market? An Analysis of Corporate Investment Decisions
    The Review of Financial Studies, 2010, 23, (5), 1941-1980 View citations (141)

2009

29. Investment-Based Expected Stock Returns
    Journal of Political Economy, 2009, 117, (6), 1105-1139 View citations (173)
30. The Corporate Propensity to Save
    Journal of Finance, 2009, 64, (4), 1729-1766 View citations (267)

2008

31. Editorial for "Challenge"
    Finance Research Letters, 2008, 5, (1), 1-1

2007

32. How Costly Is External Financing? Evidence from a Structural Estimation
    Journal of Finance, 2007, 62, (4), 1705-1745 View citations (474)
33. Spin-offs, Divestitures, and Conglomerate Investment
    The Review of Financial Studies, 2007, 20, (3), 557-595 View citations (39)
34. Testing Q theory with financing frictions
    Journal of Financial Economics, 2007, 83, (3), 691-717 View citations (69)

2006

35. External finance constraints and the intertemporal pattern of intermittent investment
    Journal of Financial Economics, 2006, 81, (3), 467-502 View citations (137)
36. Financial Constraints Risk
    The Review of Financial Studies, 2006, 19, (2), 531-559 View citations (1120)
37. On the Accuracy of Different Measures of Q
    Financial Management, 2006, 35, (3) View citations (37)
    Also in Financial Management, 2006, 35, (3), 5-33 (2006) View citations (46)

2005

38. Debt Dynamics
    Journal of Finance, 2005, 60, (3), 1129-1165 View citations (191)
    See also Working Paper Debt Dynamics, 2004 Meeting Papers (2004) View citations (12) (2004)
39. Proxy-quality thresholds: Theory and applications
    Finance Research Letters, 2005, 2, (3), 131-151 View citations (9)

2004

40. Editorial
    Finance Research Letters, 2004, 1, (1), 1-1

2002

41. TWO-STEP GMM ESTIMATION OF THE ERRORS-IN-VARIABLES MODEL USING HIGH-ORDER MOMENTS
    Econometric Theory, 2002, 18, (3), 776-799 View citations (123)

2001

42. Fixed Costs Of Adjustment, Coordination, And Industry Investment
    The Review of Economics and Statistics, 2001, 83, (4), 628-637 View citations (9)
43. Is It Inefficient Investment that Causes the Diversification Discount?
    Journal of Finance, 2001, 56, (5), 1667-1691 View citations (165)

2000

44. Measurement Error and the Relationship between Investment and q
    Journal of Political Economy, 2000, 108, (5), 1027-1057 View citations (547)

1998

45. Why Do Investment Euler Equations Fail?
    Journal of Business & Economic Statistics, 1998, 16, (4), 479-88 View citations (48)

1996

46. The Effect of Uncertainty on Investment: Some Stylized Facts
    Journal of Money, Credit and Banking, 1996, 28, (1), 64-83 View citations (435)
    See also Working Paper The Effect of Uncertainty on Investment: Some Stylized Facts, NBER Working Papers (1995) View citations (39) (1995)

1995

47. International Finance and Firm Investment
    Journal of Money, Credit and Banking, 1995, 27, (3), 683-701 View citations (68)

1994

48. Problems with identifying adjustment costs from regressions of investment on q
    Economics Letters, 1994, 46, (4), 327-332 View citations (17)

1992

49. Debt, Liquidity Constraints, and Corporate Investment: Evidence from Panel Data
    Journal of Finance, 1992, 47, (4), 1425-60 View citations (656)
    See also Working Paper Debt, liquidity constraints, and corporate investment: evidence from panel data, Finance and Economics Discussion Series (1990) View citations (98) (1990)

1991

50. Investment and financial asset accumulation
    Journal of Financial Intermediation, 1991, 1, (4), 307-334 View citations (15)

1990

51. U.S. Corporate Leverage: Developments in 1987 and 1988
    Brookings Papers on Economic Activity, 1990, 21, (1), 255-286 View citations (7)
    See also Working Paper U.S. corporate leverage: developments in 1987 and 1988, Finance and Economics Discussion Series (1990) View citations (9) (1990)

Chapters

2013

1. Endogeneity in Empirical Corporate Finance1
   Elsevier View citations (409)

2010

2. What Can Cash Shortfalls and Windfalls Tell Us About Finance Constraints?
   Springer View citations (3)

Software Items

2016

1. XTEWREG: Stata module to estimate errors-in-variable model with mismeasured regressors
   Statistical Software Components, Boston College Department of Economics View citations (1)