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23 Jun 2024: Abstract: This paper develops a dynamic macroeconomic model with heterogeneous financial intermediaries and endogenous entry. ... It features time-varying endogenous macroeconomic risk that arises from the risk-shifting behaviour of the cross-section of

23 Jun 2024: The Supply of Skill and Endogenous Technical Change: Evidence from a College Expansion Reform' Journal of the European Economic Association.

23 Jun 2024: University of Geneva), shows theoretically that firms that exclusively focus on shareholder maximization are more exposed to certain risks that arise from their own investment and production decisions (i.e., “endogenous ... Unfortunately, however, this

23 Jun 2024: Hyun Shin, “Risk Appetite and Endogenous Risk”. Discussant: John Eatwell . Ronnie Sircar, “Games with Exhaustible Resources”.

23 Jun 2024: Finally, we propose a robust identification to the endogenous relationship between director network connections and firm value.

19 Jun 2024: On the theory side, I develop these results in a stochastic general equilibrium model frame-work with an endogenous debt portfolio choice. ... I extend the framework by Cole & Kehoe(2000). In my model, the government can make an endogenous choice about

23 Jun 2024: In capital market equilibrium, this tradeoff has implications for the firm's cash flows and stock returns, and this in turn affects the endogenous choice of governance standards. ... We develop a model where a household's beliefs about stock returns are

23 Jun 2024: Title of research: Endogenous Financial Networks: Efficient Modularity and Why Shareholders Prevent It (joint with Jonathon Hazell, MIT).

23 Jun 2024: Taken together, firms’ optimal selling policies create endogenous seasonal operating leverage that is countercyclical: high (low) during seasonal lows (highs) in product demand.

23 Jun 2024: Our analysis brings out the rich and subtle interactions between sources of funds (external, internal, and endogenous retained earnings) and the optimal exercising of investment and abandonment options.