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Working Papers

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Finance

Who Can Tell Which Banks Will Fail?

The authors use the German Crisis of 1931, one of the largest bank runs in financial history, to study how depositors behave in the absence of deposit insurance

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Finance

The High Frequency Effects of Dollar Swap Lines

Rohan KekreMoritz Lenel
Finance

Tail Risk and Asset Prices in the Short-term

Caio AlmeidaGustavo FreireRené GarciaRodrigo Hizmeri
Finance

Demand in the Option Market and the Pricing Kernel

Caio AlmeidaGustavo Freire
Finance

Which (Nonlinear) Factor Models?

Caio AlmeidaGustavo Freire
Monetary Economics

Monetary Policy, Segmentation, and the Term Structure

Rohan KekreMoritz LenelFederico Mainardi
Finance

Platforms, Tokens, and Interoperability

Finance

Strategic Money and Credit Ledgers

Macroeconomics

Deep Learning Solutions to Master Equations for Continuous Time Heterogeneous Agent Macroeconomic Models

Zhouzhou GuMathieu LaurièreSebastian MerkelJonathan Payne
Finance

Asset Transfers and Self-Fulfilling Runs

Jonathan PayneJoshua Weiss
Finance

Asset Embeddings

Xavier GabaixRalph S.J. KoijenMotohiro Yogo
Finance

Data Sales and Data Dilution

Ernest LiuSong MaLaura Veldkamp
Innovation

Innovation Networks and R&D Allocation

Ernest LiuSong Ma
Finance

Estimating Historical Yield Curves With Sparse Data

Jonathan PayneBálint SzőkeGeorge HallThomas J. Sargent
Spatial Economics

The Linear Algebra of Economic Geography Models

Finance

Costs of Financing US Federal Debt Under a Gold Standard: 1791-1933

George HallJonathan PayneThomas J. SargentBálint Szőke
Macroeconomics

Lemon Cycles

Feng DongErnest Liu
Finance

The Flight to Safety and International Risk Sharing

Rohan KekreMoritz Lenel
International Trade

Neoclassical Growth in an Interdependent World

Macroeconomics

Micro Risks and (Robust) Pareto Improving Policies

Mark A. Aguiar Manuel AmadorCristina Arellano
Macroeconomics

Pareto Improving Fiscal and Monetary Policies: Samuelson in the New Keynesian Model

Mark A. AguiarManuel AmadorCristina Arellano