Can Real Estate Booms Hurt Firms? Evidence on Investment Substitution
Journal of Urban Economics, forthcoming
with Difei Ouyang
FinTech Credit and Entrepreneurial Growth
Journal of Finance, forthcoming
SFI Research Paper No. 21-47
with Yi Huang, Chen Lin, Hongzhe Shan, Zixia Sheng, and Lai Wei
The Consumption Response to Minimum Wages: Evidence from Chinese Households
Review of Economics and Statistics, forthcoming
SFI Research Paper No. 17-01
with Ernest Dautovic and Yi Huang
Bank Bonus Pay as a Risk Sharing Contract
Review of Financial Studies, 2023, Vol. 36(1), 235-280
with Matthias Efing, Patrick Kampkötter, and Jean-Charles Rochet
Global Portfolio Rebalancing and Exchange Rates
Review of Financial Studies, 2022, Vol. 35(11), 5228-5274
with Nelson Camanho and Helene Rey
Discriminatory Pricing of Over-The-Counter Derivatives
Management Science, 2021, Vol. 67(11), 6660-6677
with Peter Hoffmann,
Sam Langfield,
and Yannick Timmer
Firm Response to Competitive Shocks: Evidence from China’s Minimum Wage Policy
Review of Economic Studies, 2020, Vol. 87(6), 2639-2671
with Yi Huang and Gewei Wang
How FinTech Enters China’s Credit Market
AER Papers and Proceedings, 2019, 109: 60–64
with Yi Huang, Hongzhe Shan, and Zixia Sheng
The Role of Equity Funds in the Financial Crisis Propagation
Review of Finance, 2017, 77-108
with Sandy Lai
Asset Allocation and Monetary Policy: Evidence from the Eurozone
Journal of Financial Economics, 2016, Vol. 120(2)
with Sandy Lai
Dealer Intermediation Between Markets
Journal of the European Economic Association, 2015, Vol. 13(5), 770-804
with Peter Dunne and Michael Moore
Incentive Pay and Bank Risk-Taking: Evidence from Austrian, German and Swiss Banks
Journal of International Economics, Vol. 96 (2015), S123-S140,
with M. Efing, P. Kampkötter and J. Steinbrecher
The Exchange Rate Effect of Multi-Currency Risk Arbitrage
Journal of International Money and Finance, Vol. 47 (2014), 304-331
Structured Debt Ratings: Evidence on Conflicts of Interest
Journal of Financial Economics, Vol. 116 (2014), 46-60
with Matthias Efing
Europas Bankenunion oder der Triumph der Hoffnung über die Erfahrung
Perspektiven der Wirtschaftspolitik, 14(3–4) (2013), 186–197
Bank Ratings: What Determines their Quality?
Economic Policy, Vol. 28(74) (2013), 289-333
with Sam Langfield and David Marques-Ibanez
Real Effects of Stock Underpricing
Journal of Financial Economics, Vol. 109 (2013), 392-408
with Sandy Lai
Global versus Local Asset Pricing: A New Test of Market Integration
Review of Financial Studies, Vol. 24(12) (October 2011), 3891-3940
Do Demand Curves for Currencies Slope Down? Evidence from the MSCI Global Index Change
Review of Financial Studies, Vol. 23(4) (2010), 1681-1717
with Massa and Peress
International Order Flows: Explaining Equity and Exchange Rate Returns
Journal of International Money and Finance, Vol. 29(2) (2010), 358-386
with Peter Dunne and Michael Moore
Home Bias at the Fund Level
American Economic Review P&P, Vol. 98(2) (May 2008), 333-338
with Hélène Rey
Subprime Crisis and Board (in-)Competence: Private vs. Public Banks in Germany
Economic Policy, Vol. 24(60) (October 2009), 701-751
with Marcel Thum
The Role of Transaction Costs for Financial Volatility: Evidence from the Paris Bourse
Journal of the European Economic Association, Vol. 4(4) (2006), 862-890
Exchange Rate, Equity Prices and Capital Flows
Review of Financial Studies, Vol. 19 (April 2006), 273-317
with Hélène Rey
Can Portfolio Rebalancing Explain the Dynamics of Equity Returns, Equity Flows, and Exchange Rates?
American Economic Review P&P, Vol. 96(2) (May 2004), 126-133
with Hélène Rey
How has the Euro changed the Foreign Exchange Market?
Economic Policy, Vol. 17(1) (2002), 149-192
with William Killeen and Michael Moore
The Euro as an International Currency: Explaining Puzzling First Evidence from the Foreign Exchange Markets
Journal of International Money and Finance, Vol. 21(3) (2002), 351-383
with William Killeen and Michael Moore
Real Exchange Rate Volatility and Economic Openness: Theory and Evidence
Journal of Money, Credit and Banking, Vol. 34 (2002), No. 3, 611-630
Geographic Patterns of Trading Profitability in Xetra
European Economic Review, Vol. 45(4-6) (2001), 757-769
Location Matters: An Examination of Trading Profits
Journal of Finance, Vol. 56(5) (2001), 1959-1983.