Working papers
Are Environmental and Socially Responsible Firms More Resilient? Korean Firms During the Covid-19 Crash
(with Chanyang Choo and Seongjun Jeong)
- Revise and Resubmit, Asia-Pacific Journal of Financial Studies
Are Collateral and Lender Screening Efforts Substitutes?
(with Jung-Eun Kim)
Contagion Effects of the Silicon Valley Bank Run
(with Paul Goldsmith-Pinkham and Tanju Yorulmazer)
- Reject and Resubmit, Journal of Financial Economics
Does Increased Shareholder Liability Always Reduce Bank Moral Hazard?
(with Haelim Anderson and Daniel Barth)
- 2017 EHA meeting, 2018 EFA, 2019 FIFI, 2019 NBER SI, 2019 FDIC Bank Research Conference, 2020 SFS Cavalcade
Hidden Cost of Better Bank Services: Carefree Depositors in Riskier Banks?
(with Ulysses Velasquez)
- 2017 SFS Cavalcade, 2017 CFIC
- Semifinalist for best paper awards, 2016 FMA Annual Meeting
Publication
Debt-equity Conflicts and Efficiency of Distressed Firms: Evidence from Japanese Banker-directors
(with Kentaro Asai)
Journal of Financial and Quantitative Analysis, forthcoming.
CSR Scores versus Actual Impacts: Banks’ Main Street Lending during the Great Recession
(with Seongjun Jeong)
Journal of Banking and Finance, 2025, 172, 107380.
Whatever It Takes? Market Maker of Last Resort and its Fragility
(with Tanju Yorulmazer)
Journal of Financial Intermediation, 2024, 60, 101117.
Clogged Intermediation: Were Home Buyers Crowded Out?
(with Hyun-Soo Choi and Jung-Eun Kim)
Journal of Money, Credit and Banking, 2022, 54(4), 1065-1098.
Does Securitization Weaken Screening Incentives?
(with Jung-Eun Kim)
Journal of Financial and Quantitative Analysis, 2021, 56(8), 2934-2962.
Watering a Lemon Tree: Heterogeneous Risk Taking and Monetary Policy Transmission
(with Thomas Eisenbach and Tanju Yorulmazer)
Journal of Financial Intermediation, 2021, 47, 100873.
A Theory of Collateral for the Lender of Last Resort
(with Joao Santos and Tanju Yorulmazer)
Review of Finance, 2021, 25(4), 973-996.
The Effect of Monetary Policy on Bank Wholesale Funding
(with Hyun-Soo Choi)
Management Science, 2021, 67(1), 388-416.
Bank Leverage Limits and Regulatory Arbitrage: Old Question-New Evidence
(with Michael Holcomb and Donald Morgan)
Journal of Money, Credit and Banking, 2020, 52(S1), 241-266.
Risk Sharing and Interbank Market Fragilities
Seoul Journal of Business, 2019, 25(2), 35-66.
Sooner or Later: Timing of Monetary Policy with Heterogeneous Risk Taking
(with Thomas Eisenbach and Tanju Yorulmazer)
American Economic Review: Papers and Proceedings, 2016, 106(5), 490-495.
Contagious Runs: Who Initiates?
Economics Bulletin, 2016, 36(1), 253-259.
Heterogeneity and Stability: Bolster the Strong, Not the Weak
Review of Financial Studies, 2014, 27(6), 1830-1867.
Publication (in Korean)
(정성준 공저)
한국증권학회지, 2022, 51(4), 417-445.
(김재영 공저)
경제논집, 2021, 60(2), 63-92.
FRBNY Liberty Street Economics
The Liquidity Stress Ratio: Measuring Liquidity Mismatch on Banks’ Balance Sheets
Featured in Bloomberg
Do Better Bank Services Have a Hidden Cost?
Featured in World Economic Forum, Cited in WSJ
Would Monetary Tightening Increase Bank Wholesale Funding?
Featured in World Economic Forum, Cited in FT Alphaville
Could Liquidity Regulation Revive the Bank Lending Channel?
Featured in FT Alphaville, Finadium, WSJ
QE Frictions: Could Banks Have Favored Refinancing over New Purchase Borrowing?
Does More "Skin in the Game" Mitigate Bank Risk-Taking?
Cited in Bloomberg
Cited in American Banker, Bloomberg