Asli Uyanik

I am a PhD Candidate at Rice University. I am on the 2026-2027 job market.

My research focuses on credit markets and household finance. I study how changes in credit supply affect households and communities, with a particular focus on how federal policies alter the interactions between borrowers and financial intermediaries.

Prior to my doctoral studies, I received an MBA from New York University and a BSBA in Finance, with a minor in English, from Georgetown University. Outside of academia, I was a Vice President at Goldman Sachs in New York City, where I specialized in launching new OTC derivative products.

Research Interests: financial intermediation, local credit markets, household finance, municipal bonds

Working Papers

The Boundaries of the Farm and the Death of Small Banks

Job Market Paper

Using a novel source of exogenous variation in borrower structure driven by subsidy-induced consolidation in the agricultural sector, I show that as farms consolidate, large banks capture a greater share of deposits because large borrowers demand large loans, creating a comparative advantage for large banks. In response, large banks expand their branch networks and small bank mergers become more common, creating more concentrated local credit markets. The resulting structure reduces competition and reduces local deposit rates. These findings reveal how consolidation in the real economy can drive structural change within the banking sector and affect credit pricing.

Presentations: Rice University (2025); Financial Research Association (FRA) Annual Meeting (2025); Midwest Finance Association (MFA) Annual Meeting (2026); BIS-CEPR-Gerzensee-SFI Conference on Financial Intermediation (Poster) (2026); FDIC Annual Bank Research Conference (Poster) (2026); Northern Finance Association (NFA) Annual Meeting (2026); Community Banking Research Conference (Pre-session) (2026); Johns Hopkins Carey Finance Conference (2026)*; Finance, Organizations, and Markets Conference (2026)*

Awards: Best PhD Paper at NFA Annual Meeting; Michael J. Barclay Young Scholar

Travel grants: Carey Finance Conference, NFA Annual Meeting, Community Banking Research Conference, BIS-CEPR-Gerzensee-SFI, FRA Annual Meeting

Invited to submit to the Journal of Financial Economics under FRA dual-submission

Nepo Credit: The Effect of Borrowed Credit Histories

With Alex Butler, Alan Crane and Erik Mayer

The intergenerational transfer of credit histories through authorized user (AU) status affects credit outcomes. About 10-15% of young adults benefit from AU status each year, gaining credit histories that pre-date their own financial activity. Using variation in the age at which individuals are added as AUs, we identify substantial gains to AU status: credit scores rise by 22-33 points, and access to credit cards and credit in broader markets increases. However, high-risk AU borrowers are more likely to default than others with similar credit scores, suggesting that AU histories inflate scores and reinforce inequality in credit access.

Presentations: Rice University (2025); University of Wisconsin-Madison (2025)**; University of North Texas (2025)**; University of Minnesota Finance Department Junior Conference (2025)**; Auburn University (2026)**; Eastern Finance Association (EFA) Annual Meeting (2026)**; Western Finance Association (WFA) Annual Meeting (2026); Montana Financial Decision-Making Conference (2026); FMA Annual Meeting (2026)**

Awards: Best Paper Award in Financial Markets and Institutions at FMA Annual Meeting

Travel grants: Montana Financial Decision-Making Conference

The Spillover Effects of Federal Aid Programs: Evidence from Flood Insurance and Municipal Borrowing

Solo-authored

This paper examines how federal programs targeting individuals can generate economic spillovers for local governments. I examine the unintended consequences of social welfare programs on municipal bond markets, using county-level variation in the rollout of a federal program providing subsidized flood insurance to households. I find that municipalities with broader program access experience smaller declines in property tax revenue following floods. I then show that counties with greater access also face lower financing costs. The effects are most pronounced in high-risk and high-income areas. Overall, these results show how federal subsidies can produce positive local externalities, enhancing fiscal stability.

Presentations: Rice University (2023); Eastern Finance Association (EFA) Annual Meeting (2024); FMA Annual Meeting (2025)

Black Belt Banking: Emancipation and the Geography of Southern Credit

With Alex Butler

Antebellum Southern credit relied on enslaved people as collateral, an arrangement emancipation ended in 1865. We show that emancipation reversed financial development for a century and a half. In a county panel of Confederate states from 1820 to 2024, a one-standard-deviation higher 1860 slave share predicts 64 percent more banks before emancipation but 51 percent fewer afterward, and 31 percent fewer still today. Regulations lowering bank capital requirements increased bank entry, but branching deregulation did not eliminate the gap. A modern-day movers design shows that living in these counties changes credit access, but not credit risk.

Presentations: Rice University (2026)**; Kent State University (2026)**

Works in Progress

Rise of Market Power or Superstar Firms: Evidence from COVID

With Gustavo Grullon

Liquidity Regulation and Monetary Policy Transmission: The Role of Product Heterogeneity

With Nicole Fleskes

Note: * denotes a presentation that is yet to occur. ** denotes presentation by co-author.

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