NEWS / UPDATES
New paper: Dynamic Asset (Mis)Pricing: Build-up vs. Resolution Anomalies [SSRN]
New paper: Renegotiation in Debt Chains [SSRN]
New paper: The Effectiveness of Life-Preserving Investments in Times of COVID-19 [SSRN]
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.
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.
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: