CHRISTIAN OPP
Associate Professor of Finance, University of Rochester Simon Business School
Research Associate, NBER
NEWS / UPDATES
New paper: Renegotiation in Debt Chains [SSRN]
New paper: The Effectiveness of Life-Preserving Investments in Times of COVID-19 [SSRN]
RESEARCH TOPICS
I study financial institutions’ and markets’ impact on prices and allocative efficiency.
Real anomalies - the aggregate real effects of financial market anomalies (alphas).
Venture capital investments' impact on economic growth and welfare.
The role of intermediation chains, disclosure, and security design in affecting the efficiency of over-the-counter (OTC) markets.
How the desirability of information production shapes the relative efficiency of OTC and centralized markets.
Regulations' impact on credit rating agencies' rating standards and the allocation of credit.
Large shareholders' influence on inefficiencies associated with financial distress.
The cross-sectional sensitivity of credit to shocks affecting bank capital.
METHODOLOGY
I have developed a modeling approach for granular dynamic economies that yields exact global solutions and only requires inverting sparse matrices. Several of my papers showcase this approach in settings with:
Capital investment with adjustment costs
Granular general equilibrium economies with persistent heterogeneity