Itay Goldstein
Joel S. Ehrenkranz Family Professor

Professor of Finance

Professor of Economics (Secondary)

Chairperson, Finance Department

Finance Department, Wharton School, University of Pennsylvania

Phone: 215-746-0499

E-mail: itayg@wharton.upenn.edu

Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: Description: goldstein_itay_Alt-300dpi.jpg 

 

 

 

 

Bio

Resume (updated: March 2024)

Google Scholar Website

Scopus Profile

Research

Complete and Active Working Papers

Refereed Publications

Other Academic Publications

Columns in the Popular Press

Ph.D. Level Lecture Notes

Keynote Speeches, Panels, and Media

Other Selected Activities and Recognitions

 

 

 

 

 

RESEARCH

 

 

COMPLETE AND ACTIVE WORKING PAPERS

1.   On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices with Alexandr Kopytov, Lin Shen, and Haotian Xiang (Latest Version: May 2024)

2.   Bank Heterogeneity and Financial Stability with Alexandr Kopytov, Lin Shen, and Haotian Xiang (Latest Version: December 2023)

-      Covered in Think Advisor

3.   Bank Diversification and Lending Resiliency with Michael Gelman and Andrew MacKinlay (Latest Version: April 2023)

-      Covered in Knowledge @ Wharton

-      International Finance and Banking Society Best Paper Award, 2021

4.   Information Sharing in Financial Markets with Yan Xiong and Liyan Yang (Latest Version: January 2023)

 

REFEREED PUBLICATIONS

5.   Liquidity Transformation and Fragility in the US Banking Sector with Qi Chen, Zeqiong Huang, and Rahul Vashishtha, Journal of Finance, forthcoming

6.   Corporate Responses to Stock Price Fragility with Richard Friberg and Kristine Hankins, Journal of Financial Economics, forthcoming

-      Covered in Harvard Law School Forum on Corporate Governance

7.   Utility Tokens as a Commitment to Competition with Deeksha Gupta and Ruslan Sverchkov, Journal of Finance, forthcoming

8.   The Real Effects of Modern Information Technologies: Evidence from the EDGAR Implementation with Shijie Yang and Luo Zuo, Journal of Accounting Research, vol. 61(5), pp. 1699-1733, December 2023

-      Covered in NBER Digest

-      Covered in Harvard Law School Forum on Corporate Governance

-      Covered in Market Watch

-      Covered in Knowledge @ Wharton

9.   Optimal Deposit Insurance with Eduardo Davila, Journal of Political Economy, vol. 131(7), pp. 1676-1730, July 2023

10.              Bank Transparency and Deposit Flows with Qi Chen, Zeqiong Huang, and Rahul Vashishtha, Journal of Financial Economics, vol. 146(2), pp. 475-501, November 2022

-      Covered in Knowledge @ Wharton

11.              Commodity Financialization and Information Transmission with Liyan Yang, Journal of Finance, vol. 77(5), pp. 2613-2667, October 2022

12.              Financial Fragility in the COVID-19 Crisis: The Case of Investment Funds in Corporate Bond Markets with Antonio Falato and Ali Hortacsu, Journal of Monetary Economics, vol. 123, pp. 35-52, October 2021

-      Covered in Money and Banking Blog (1), Money and Banking Blog (2)

-      Covered in Think Advisor

13.              Mutual Fund Flows and Fluctuations in Credit and Business Cycles with Azi Ben-Rephael and Jaewon Choi, Journal of Financial Economics, vol. 139(1), pp. 84-108, January 2021

-      Podcast link in Knowledge @ Wharton

-      Covered in Seeking Alpha

14.              Credit Rating Inflation and Firms’ Investments with Chong Huang, Journal of Finance, vol. 75(6), pp. 2929-2972, December 2020

15.              Monetary Stimulus and Bank Lending with Indraneel Chakraborty and Andrew MacKinlay, Journal of Financial Economics, vol. 136(1), pp. 189-218, April 2020

-      Douglas D. Evanoff Best Paper Award, Chicago Financial Institutions Conference, 2016

-      Podcast link in Knowledge @ Wharton

 

16.              Good Disclosure, Bad Disclosure with Liyan Yang, Journal of Financial Economics, vol. 131(1), pp. 118-138, January 2019

-      MIT Asia Conference in Accounting Best Paper Award, Runner-Up, 2015

17.              Government Guarantees and Financial Stability with Franklin Allen, Elena Carletti, and Agnese Leonello, Journal of Economic Theory, vol. 177, pp. 518-557, September 2018

-      Finalist for Cavalcade Best Paper in Corporate Finance in honor of Jerome A. Chazen, SFS Cavalcade 2015

18.              Stress Tests and Information Disclosure with Yaron Leitner, Journal of Economic Theory, vol. 177, pp. 34-69, September 2018

19.              Housing Price Booms and Crowding-Out Effects in Bank Lending with Indraneel Chakraborty and Andrew MacKinlay, Review of Financial Studies, vol. 31(7), pp. 2806-2853, July 2018

-      Marshall Blume Prize in Financial Research (Rodney L. White Center), first prize, 2013

-      Covered in the Economist (1), Economist (2), and Financial Times

-      Column in vox

-      Covered in Knowledge @ Wharton

20.              Investor Flows and Fragility in Corporate Bond Funds with Hao Jiang and David Ng, Journal of Financial Economics, vol. 126(3), pp. 592-613, December 2017

-      Policy Brief at Penn Wharton Public Policy Initiative

-      Video link in Knowledge @ Wharton

-      Covered in Reuters, Bloomberg, Wall Street Journal

-      Covered in Money and Banking Blog (1), Money and Banking Blog (2), Money and Banking Blog (3)

21.              Incentives for Information Production in Markets where Prices Affect Real Investment with James Dow and Alexander Guembel, Journal of the European Economic Association, vol. 15(4), pp. 877-909, August 2017

-      Podcast link in Knowledge @ Wharton

22.              Feedback Effects, Asymmetric Trading, and the Limits to Arbitrage with Alex Edmans and Wei Jiang, American Economic Review, vol. 105(12), pp. 3766-3797, December 2015

23.              Government Intervention and Information Aggregation by Prices with Philip Bond, Journal of Finance, vol. 70(6), pp. 2777-2811, December 2015

24.              Information Diversity and Complementarities in Trading and Information Acquisition with Liyan Yang, Journal of Finance, vol. 70(4), pp. 1723-1765, August 2015

25.              Speculation and Hedging in Segmented Markets with Yan Li and Liyan Yang, Review of Financial Studies, vol. 27(3), pp. 881-922, March 2014

26.              Trading Frenzies and Their Impact on Real Investment with Emre Ozdenoren and Kathy Yuan, Journal of Financial Economics, vol. 109(2), pp. 566-582, August 2013

-      Covered in Knowledge @ Wharton

-      Video of my presentation in the Utah Winter Finance Conference

-      Covered in Financial Times

27.              The Real Effects of Financial Markets: The Impact of Prices on Takeovers with Alex Edmans and Wei Jiang, Journal of Finance, vol. 67(3), pp. 933-971, June 2012

-      Covered in Knowledge @ Wharton;

-      Covered in Harvard Law School Forum on Corporate Governance

-      Coverage in Morningstar and others

-      Terker Family Prize in Investment Research (Rodney L. White Center), honorable mention, 2009

28.              Self-Fulfilling Credit Market Freezes with Lucian Bebchuk Review of Financial Studies, vol. 24(11), pp. 3519-3555, November 2011

-      Lead Article

-      Marshall Blume Prize in Financial Research (Rodney L. White Center), first prize, 2011

-      Op-ed in Financial Times

-      Summarized in Knowledge @ Wharton

-      Covered in Harvard Law School Forum on Corporate Governance

-      Coverage in Forbes and others

29.              Learning and Complementarities in Speculative Attacks with Emre Ozdenoren and Kathy Yuan, Review of Economic Studies, vol. 78(1), pp. 263-292, January 2011

30.              Payoff Complementarities and Financial Fragility: Evidence from Mutual Fund Outflows with Qi Chen and Wei Jiang, Journal of Financial Economics, vol. 97(2), pp. 239-262, August 2010

-      Covered in Knowledge @ Wharton

-      Covered by the Economist

-      Covered in Money and Banking Blog (1), Money and Banking Blog (2), Money and Banking Blog (3)

31.              Market-Based Corrective Actions with Philip Bond and Edward Simpson Prescott, Review of Financial Studies, vol. 23(2), pp. 781-820, February 2010

-      Covered in Knowledge @ Wharton

-      Covered in Harvard Law School Forum on Corporate Governance

32.              Activist Arbitrage: A Study of Open-Ending Attempts of Closed-End Funds with Michael Bradley, Alon Brav, and Wei Jiang, Journal of Financial Economics, vol. 95(1), pp. 1-19, January 2010

-      Lead Article

-      Covered in Harvard Law School Forum on Corporate Governance

33.              Directors' Ownership in the U.S. Mutual Fund Industry with Qi Chen and Wei Jiang, Journal of Finance, vol. 63(6), pp. 2629-2677, December 2008

34.              Manipulation and the Allocational Role of Prices with Alexander Guembel, Review of Economic Studies, vol. 75(1), pp. 133-164, January 2008

-      Covered in Knowledge @ Wharton

-      Covered in TheStreet.com, Bloomberg, Seeking Alpha

35.              The Positive Effects of Biased Self-Perceptions in Firms with Simon Gervais, Review of Finance, vol. 11(3), pp. 453-496, September 2007

36.              Price Informativeness and Investment Sensitivity to Stock Price with Qi Chen and Wei Jiang, Review of Financial Studies, vol. 20(3), pp. 619-650, May 2007

37.              An Information Based Trade off Between Foreign Direct Investment and Foreign Portfolio Investment with Assaf Razin, Journal of International Economics, vol. 70(1), pp. 271-295, September 2006  

38.              Demand Deposit Contracts and the Probability of Bank Runs with Ady Pauzner, Journal of Finance, vol. 60(3), pp. 1293-1328, June 2005

-      Reprinted in Financial Crises, International Library of Critical Writings in Economics, Franklin Allen and Douglas Gale ed., Edward Elgar Publishing Ltd, 2009

-      Nominated for Smith Breeden Prize for the best article published in the Journal of Finance, 2005

39.              Strategic Complementarities and the Twin Crises Economic Journal, vol. 115, pp. 368-390, April 2005

-      Reprinted in Liquidity and Crises, Franklin Allen, Elena Carletti, Jan Pieter Krahnen, and Marcel Tyrell ed., Oxford University Press, 2010

40.              The Choice of Exchange Rate Regime and Speculative Attacks with Alex Cukierman and Yossi Spiegel, Journal of the European Economic Association, vol. 2(6), pp. 1206-1241, December 2004

41.              Contagion of Self-Fulfilling Financial Crises Due to Diversification of Investment Portfolios with Ady Pauzner, Journal of Economic Theory, vol. 119(1), pp. 151-183, November 2004

 

OTHER ACADEMIC PUBLICATIONS

42.              Information in Financial Markets and Its Real Effects, Review of Finance, vol. 27(1), pp. 1-32, February 2023

43.              Stress Tests Disclosure: Theory, Practice, and New Perspectives with Yaron Leitner, in Handbook of Financial Stress Testing, edited by J. Doyne Farmer, Alissa M. Kleinnijenhuis, Til Schuermann, and Thom Wetzer (Cambridge University Press), pp. 208-223, April 2022

44.              COVID-19 and Its Impact on Financial Markets and the Real Economy with Ralph Koijen and Holger Mueller, Review of Financial Studies, vol. 34(11), pp. 5135-5148, November 2021

45.              Big Data in Finance with Chester Spatt and Mao Ye, Review of Financial Studies, vol. 34(7), pp. 3213-3225, July 2021

46.              To FinTech and Beyond with Wei Jiang and G Andrew Karolyi, Review of Financial Studies, vol. 32(5), pp. 1647-1661, May 2019

-      Podcast link in Knowledge @ Wharton

47.              The Interplay among Financial Regulations, Resilience, and Growth with Franklin Allen and Julapa Jagtiani, Journal of Financial Services Research, vol. 53 (2-3), pp. 141-162, June 2018

48.              Information Disclosure in Financial Markets with Liyan Yang, Annual Review of Financial Economics, vol. 9, pp. 101-125, December 2017

49.              Comment on “Redemption Risk and Cash Hoarding by Asset Managers” by Morris, Shim, and Shin Journal of Monetary Economics, vol. 89, pp. 88-91, August 2017

50.              Financial Regulation in Europe: Foundations and Challenges with Thorsten Beck and Elena Carletti, in Economics without Borders: Economic Research for European Policy Challenges, edited by Richard Blundell et al. (Cambridge University Press), pp. 470-511, April 2017

-      Column in vox

51.              Enhancing Prudential Standards in Financial Regulations with Franklin Allen, Julapa Jagtiani, and William Lang, Journal of Financial Services Research, vol. 49(2-3), pp. 133-151, June 2016

-      Covered in Harvard Law School Forum on Corporate Governance

52.              Bayesian Persuasion in Coordination Games with Chong Huang, American Economic Review Papers and Proceedings, vol. 106(5), pp. 592-596, May 2016

53.              Three Branches of Theories of Financial Crises with Assaf Razin, Foundations and Trends in Finance, vol. 10(2), pp. 113-180, December 2015

-      Column in vox

54.              Moral Hazard and Government Guarantees in the Banking Industry with Franklin Allen, Elena Carletti, and Agnese Leonello, Journal of Financial Regulation, vol. 1(1), pp. 30-50, March 2015

55.              Corporate Finance Theory: Introduction to Special Issue with Dirk Hackbarth, Journal of Corporate Finance, vol. 29, pp. 535-541, December 2014

56.              Should Banks’ Stress Test Results be Disclosed? An Analysis of the Costs and Benefits with Haresh Sapra, Foundations and Trends in Finance, vol. 8, pp. 1-54, March 2014

-      Policy Brief at Penn Wharton Public Policy Initiative

-      Covered by Bloomberg, MarketWatch, Bloomberg (2)

57.              The Real Effects of Financial Markets with Philip Bond and Alex Edmans, Annual Review of Financial Economics, vol. 4, pp. 339-360, December 2012

-      Covered by Huffington Post

58.              Empirical Literature on Financial Crises: Fundamentals vs. Panic  in The Evidence and Impact of Financial Globalization, edited by Gerard Caprio (Elsevier, Amsterdam), pp. 523-534, December 2012

 

COLUMNS IN THE POPULAR PRESS

·       The Bright Side of Bank Diversification with Michael Gelman and Andrew MacKinlay, The Banker, August 2023

·       SVB: US Regulators Have Generated “A Moral Hazard” with Yao Zeng, The Banker, March 2023

·       The Real Effects of the Chinese Stock Market with Bibo Liu and Liyan Yang, Vox-China, September 2021

·       As Inflation Risk Rises, Banks Should Step Up Stress Tests, The Banker, August 2021

·       Lessons from Corporate Bond Market Fragility, The Banker, April 2021

·       Why We Should Worry about Trading Frenzies, The Banker, March 2021

·       Fintech and the New Financial Landscape with Julapa Jagtiani and Aaron Klein, Banking Perspectives, March 2019

·       The Current State and Future Challenges of Financial Regulation with Thorsten Beck and Elena Carletti, VoxEU, November 2016

·       Dark Side of Housing-Price Appreciation with Indraneel Chakraborty and Andrew MacKinlay, VoxEU, November 2013

·       Theories of Financial Crises with Assaf Razin, VoxEU, March 2013

·       How to Give Banks Confidence to Lend to Businesses with Lucian Bebchuk, Financial Times, December 2008

 

PHD-LEVEL LECTURE NOTES

Mini Course on “Financial Fragility” (Recent Slides)

-      Aalto University, August 2023

-      Vienna Graduate School of Finance, June-July 2018 (Longer Version of Slides)

-      Study Center Gerzensee and Swiss Finance Institute, August 2016

 

I have also given shorter versions and different variants of this course over the years in various places, including:

-      Securities and Exchange Commission, December 2016

-      Ohio State University PhD Class, September 2016

-      Finance Theory Group and Washington University Summer School, August 2015: Video link

-      Financial Management Association, October 2013

-      IMF Institute, August 2009 and April 2012

-      Goethe University at Frankfurt, June 2007

-      Deutsch Bundesbank, June 2007

Lecture on “Information in Financial Markets and Its Real Effects” (Duke Accounting Theory Summer School, May 2022)

I have also given different versions of these lectures over the years in various places, including:

-      Cornell University, March 2024

-      INSEAD, November 2019

-      Finance Theory Group and Washington University Summer School, August 2017: Slides: Financial Markets, Information, and Real Investments; Video link

Lecture on “Short Term Debt and Incentives in Banks” (Finance Theory Group and Wharton Summer School, June 2019; Video link (1), Video link (2))

PhD course on Corporate Finance and Financial Institutions; covers theories of Corporate Finance, Financial Institutions, and Financial Markets:

New Syllabus (with references to lecture notes above and additional lecture notes on the following topics: Moral Hazard, Theory of the Firm, Capital Structure, Financial Contracting, Corporate Control, Financial Intermediation and Crises, Financial Markets, Feedback Effects)

 

 

KEYNOTE SPEECHES, PANELS, AND MEDIA

The Role of Theory

Lecture on “The Role of Theory in Finance Research” (Finance Theory Group Summer School, University of Washington, June 2023)

I have also given this lecture as a keynote speech at Forum for Deans and Finance Department Chairs, Zhejiang University, November 2023

Liquidity and Financial Fragility

Keynote Speech on “Banking Fragility” (Fixed Income and Financial Institutions Conference, University of South Carolina, October 2023)

I have also given this lecture as a keynote speech at the Fed-Maryland Short-Term Funding Markets Conference, May 2023

Keynote Speech on “Financial Fragility and Mutual Funds” (Frankfurt School, Deutsche Bundesbank, and CEPR Conference on “Regulating Financial Markets,” August 2022)

I have also given other versions of this talk in various forums, including:

-      Panel Presentation at the IMF-WIFPR Conference on Non-Bank Financial Intermediation, Financial Stability, and Policy Responses, May 2023

-      Panel Presentation at the Federal Reserve Bank of Chicago, Workshop on Non-Bank Financial Institutions, April 2023

-      Keynote Speech at the Central Bank Conference on the Microstructure of Financial Markets, Reserve Bank of Australia, December 2022

-      Keynote Speech in the Annual Conference on Asia-Pacific Financial Markets, Seoul, December 2021

Keynote Speech on “Liquidity Transformation and Runs in the Financial System” (University of South Carolina Conference on Fixed Income and Financial Institutions, October 2020)

Panel on “COVID-19 and the Financial System — How and Why were Financial Markets Disrupted?” (video of presentation and panel discussion on website); Slides (Brookings Institution, Hutchins Center, May 2020)

Keynote Speech on “Global Games and Financial Fragility: Foundations and a Recent Application” (The Lisbon Meetings in Game Theory and Applications, October 2018)

Keynote Speech on “Asset Managers and Financial Fragility” (Bank of England, Imperial, LSE, and CEPR Conference on “Non-bank Financial Institutions and Financial Stability”, September 2018)

I have also given previous versions of this talk in various forums, including:

-      Invited Lecture at CME Group and MSRI Award Reception, February 2016

-      Keynote Speech at the University of Toronto and Bank of Canada Conference on “Liquidity Risk in Asset Management”, September 2015

-      Keynote Speech at the University of Maryland and Clearing House Conference on “the Intended and Unintended Consequences of Financial Reform”, May 2015

Keynote Speech on “Optimal Deposit Insurance” (1st Biennial Banca d’Italia and Bocconi University Conference on “Financial Stability and Regulation”, April 2018)

I have also given a previous version of this talk as an invited lecture at the International Association of Deposit Insurers Research Conference, June 2017

Panel on Amplification Mechanisms (IMF-LSE Symposium on Macroprudential Stress Tests, December 2016)

Panel on Future Generation of Central-Bank Models (Bank of Canada, November 2016)

Panel on “The Financial System Today: Better, Safer, Stronger?” (IMF, April 2016)

Panel at the Financial Stability Oversight Council (FSOC, May 2014) event on Asset Management (video available on website)

FinTech

Masterclass on “FinTech and Decentralized Finance” (Wharton Global Forum, Singapore, March 2023)

See coverage in Wharton Magazine.

I have also given this masterclass in:

-      Lovell Lecture, University of Colorado at Boulder, November 2023

-      Wharton MBA Reunion, May 2023

Keynote Speech on “FinTech, Decentralization, and Utility Tokens” (Warwick Business School Gillmore Centre Conference on DeFi and Digital Currencies, September 2022)

I have also given other versions of this talk in various forums, including:

-      Keynote Speech at the Purdue FinTech Conference, May 2022

-      Keynote speech at the Georgia State University FinTech Conference, February 2022

Lecture on “Digital Assets: Promise and Challenges” (Vaduz Roundtable: The Financial System 2030, September 2021)

Panel on “Research Agenda in FinTech” (Inaugural New York Fed Conference on FinTech, March 2019)

Corporate Finance, Financial Markets, and Feedback Effects

Keynote Speech on “Information in Financial Markets and Its Real Effects” (EIASM Workshop on Accounting and Economics, Erasmus University, July 2022)

Keynote Speech on “Information in Financial Markets and Its Real Effects” (European Finance Association Annual Meeting, August 2021)

I have also given other versions of this talk in various forums, including:

-      Invited Lecture at the Center for Financial Institutions, University of South Carolina, October 2023

-      Keynote Speaker at the Chinese Finance Annual Meeting, CUFE, October 2023

-      Invited Talk at Becker Friedman Institute, Conference on “Firms’ Cost of Capital, Discount Rates, and Investment,” University of Chicago, March 2023

-      Keynote Speech at the Australian Finance and Banking Conference, December 2022

-      Keynote Speech at the Conference on Financial Economics and Accounting, Indiana University, November 2021

-      Keynote speech at the Indian School of Business (ISB) Summer Research Conference, August 2021

Keynote Speech on “Trading Frenzies and Real Effects” (Mid-Atlantic Research Conference in Finance, March 2021)

Keynote Speech on “Financial-Market Information and Corporate Finance: An Overview with New Perspectives for the FinTech Revolution” (Greater China Area Finance Conference, December 2020)

I have also given a previous version of this talk as an invited lecture at the Global Virtual Seminar Series on Fintech, Center for Financial Markets and Policy, Georgetown University, June 2020

Keynote Speech on “Corporate Finance and Financial Markets” (Santiago Finance Workshop, December 2019)

I have also given previous versions of this talk in various forums, including:

-      Overview and Research Ideas Session at the Financial Management Association, New Orleans, October 2019

-      Keynote Speech at the Swedish House of Finance Conference on “Financial Markets and Corporate Decisions”, August 2019, Video Link

Keynote Speech on “Financial Market Feedback: Foundations and New Directions” (6th Cambridge Corporate Finance Theory Symposium, September 2019)

I have also given previous versions of this talk in various forums, including:

-      Keynote Speech at the 27th Finance Forum, Annual Meeting of Spanish Finance Association, July 2019

-      Keynote Speech at the Tsinghua International Corporate Governance Conference, December 2018

-      Keynote Speech at the Hong Kong University of Science and Technology Finance Symposium, December 2017

Tradeoffs in Disclosure

Invited Talk on “Tradeoffs in Disclosure of Supervisory Information” (Systemic Risk Integration Forum, Federal Reserve Board, February 2018)

I have also given previous versions of this talk in various forums, including:

-      Invited Lecture at the Bank of England, September 2015

-      Roundtable at the Office of Financial Research Meeting on “Stress Testing Research Agenda,” August 2012

-      Invited Lecture for the Committee on Capital Markets Regulation, April 2012

Keynote Speech on “stress Tests and Information Disclosure” (Fourth Oxford Financial Intermediation Theory Conference, September 2015)

Other Talks, Interviews, and Materials

Profile in Wharton Magazine: Breaking Down Bank Runs

Invited Talk “On ESG Investing: Heterogeneous Preferences, Information, and Asset Prices” (Pacific Center for Asset Management Meeting, January 2022)

I have also given other versions of this talk in various forums, including:

-      Keynote Speech at the Research Symposium on Finance and Economics, Krea University, June 2022

-      Keynote Speech at the Copenhagen Business School Conference on Financial Frictions, June 2022

Scientific Sense (Podcast Interview, March 2021)

Dinner Speech at Finance-Theory-Group 10th Anniversary (Rochester, September 2019)

Keynote Speech on “Credit Rating Inflation and Firms' Investments” (Barcelona GSE Summer Forum, Information Frictions: Applications, Theories, and Tests, June 2017)

Keynote Speech on “Monetary Stimulus and Bank Lending” (Barcelona GSE Summer Forum, Financial Intermediation and Risk, June 2017)

Panel on “evaluating the effects of the G20 financial regulatory reforms” (Financial Stability Board Workshop, February 2017)

Interview on Study Center Gerzensee Newsletter (January 2017)

My Knowledge @ Wharton page, containing coverage of research, interviews, and opinions

 

 

 

 

 

OTHER SELECTED ACTIVITIES AND RECOGNITIONS

I received the Provost’s Award for Distinguished PhD Teaching and Mentoring in 2022

I am the Director of Wharton Initiative on Financial Policy and Regulation (WIFPR)

I am the Executive Editor of the Review of Financial Studies (starting July 1, 2018; prior to that I served as an Editor between 2013 and 2018)

I served as a department editor at Management Science

I served as an editor at the Journal of Financial Intermediation

I was a guest co-editor (with Dirk Hackbarth) of a special issue on Corporate Finance Theory at the Journal of Corporate Finance

I co-founded (with Gustavo Manso) and served as first president of the Finance Theory Group

I co-organized (with Vincent Glode, Ohad Kadan, Nadya Malenko, and Uday Rajan) the Summer School of the Finance Theory Group and Wharton

I co-organized (with Simon Gervais, Ohad Kadan, Uday Rajan, and Adriano Rampini) the two Summer Schools of the Finance Theory Group and Washington University

I Co-organized (with Vincent Glode) the Fifth Workshop of the Finance Theory Group

I co-organized (with Gustavo Manso) the First Workshop of the Finance Theory Group

I co-organized (with Guillermo Ordonez) the Wharton Conferences on Liquidity and Financial Crises (annual event since 2012)

I was a director of the American Finance Association, the Western Finance Association, and the Financial Intermediation Research Society

I am a research associate of the National Bureau of Economic Research (NBER) Corporate Finance Group

I am a member of the Foundation for the Advancement of Research in Financial Economics (FARFE)

I co-organized the Third FARFE Conference (academic sessions, with Adriano Rampini)

I co-organized the Third Conference of the Paul Woolley Centre at the London School of Economics (Sessions on Financial Markets and the Real Economy, with Thierry Foucault and Kathy Yuan)

 

 

 

 


 
 
 

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