Seminar
Xiaoyuan Hu (U. Maryland)
McIntireDoes Executive Compensation Depend on Product Market Structure? Evidence from Shocks to Firm Risk
Sanket Korgaonkar (U.C. Berkeley)
McIntireThe Limited Benefits of Mortgage Renegotiation
Nina Karnaukh (U. St. Gallen)
McIntireThe Dollar Ahead of FOMC Target Rate Changes
Steffen Hitzemann (Ohio State U.)
McIntireMacroeconomic Fluctuations, Oil Supply Shocks, and Equilibrium Oil Futures Prices
Robert Parham (U. Rochester)
McIntireKnowledge constraints and Firm growth
Morris Davis – Rutgers
McIntireNeighborhood Choices, Neighborhood Effects and Housing Vouchers
Sam Hanson – Harvard Business School
DardenThe Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets
Stefano Giglio – U. Chicago
McIntireInference on Risk Premia in the Presence of Omitted Factors
Gary Gorton – Yale
DardenGood Booms, Bad Booms Credit booms are not rare; some end in a crisis (bad booms) while others do not (good booms). We document that credit booms start with an increase in productivity growth, which subsequently falls faster during bad booms. We develop a model in which a crisis happens Read more…
Rabih Moussawi – Villanova
DardenDo ETFs increase the commonality in liquidity of underlying stocks? We examine the impact of ETF ownership on the commonality in liquidity of the stocks held by ETFs, while controlling for the ownership by other institutional investors. Our results indicate that ETF ownership significantly increases the liquidity commonality on account Read more…
Gustavo Manso – Berkeley
McIntireShareholder Litigation and Corporate Innovation
Yael Hochberg – Rice University
DardenAccelerator programs and the Regional Supply of Venture Capital Investment We examine the impact of seed accelerator programs-fixed-term, cohort-based educational and mentorship programs for startups-on the seed and early stage financing ecosystem of the regions in which they locate. We use a difference-in-differences approach that utilizes the staggered introduction of Read more…
Francois Gourio – Chicago Fed
Risk Premia at the ZLB: a Macroeconomic Interpretation
Stephen Karolyi – Carnegie Mellon
McIntire, RRH 270Lender Forbearance We use a regression discontinuity design to study ex-post discretion in lender’s contractual enforcement of restrictive covenant violations. At pre-set thresholds, we find that lenders enforce contractual breaches at an 11% rate, varying between 5% and 18% and peaking when credit conditions are tightest, consistent with enforcement exacerbating Read more…