Published Work
"Information Management in Times of Crisis" (with Adam Copeland), Journal of Monetary Economics, vol. 136, pp. 35-49, 2023. [Video: 2020 SFS Cavalcade] [Slides]
"Deposit Insurance and Depositor Monitoring: Quasi-Experimental Evidence from the Creation of the Federal Deposit Insurance Corporation" (with Gary Richardson and Brian Yang), Journal of Money, Credit, and Banking, vol. 55: 441-464, 2023. [Slides]
"Bank Networks and Systemic Risk: Evidence from the National Banking Acts" (with Mark Paddrik and Jessie Wang), American Economic Review (109): 3125-61, 2019. [Slides]
"Liquidity Risk, Bank Networks, and the Value of Joining the Fed" (with Charles Calomiris, Matthew Jaremski, and Gary Richardson), Journal of Money, Credit, and Banking (50): 173-201, 2018.
"Determinants of Long versus Short-term Bank Credit in EU countries" (with Thierry Tressel and Claudia Ruiz Ortega), International Journal of Finance and Economics (22): 274–295, 2017.
"Stopping Contagion with Bailouts: Micro-Evidence from Pennsylvania Bank Networks during the Panic of 1884" (with John Bluedorn), Journal of Banking and Finance (76): 139-149, 2017. [Slides]
"Did the Reserve Requirement Increases of 1936-1937 Reduce Bank Lending: Evidence from a Quisi-Experiment" (with Patrick Van Horn), Journal of Money, Credit, and Banking (47): 791-818, 2015. [Slides]
Working Papers
"Does Increased Shareholder Liability Always Reduce Bank Moral Hazard?" (with Daniel Barth and DongBeom Choi) [Video: 2020 SFS Cavalcade] [Slides]
-in the process of merging with Shareholder Liability and Bank Failure (Aldunate, Jenter, Korteweg, and Koudijs)
-revise and resubmit, Journal of Finance
"Interbank Networks in the Shadows of the Federal Reserve Act” (with Selman Erol and Guillermo Ordonez) [Slides]
- WFA's Award for the Best Paper on Financial Institutions (Sponsored by Elsevier, Western Finance Association, 2020)
-revise and resubmit, Review of Economic Studies
"The Effect of Collateralized Deposits on Banking Stability: Evidence from the 1918 Influenza Pandemic" (with Jin-Wook Chang and Adam Copeland) [Slides]
"Liquidity Reallocation and Run Resolution” (with Kinda Hachem and Simpson Zhang) [Slides][Slides_NBER ME]
-revise and resubmit, American Economic Journal: Macroeconomics
"Stability Pass-through to Shadow Banking: How Did Public Liquidity Flow Along the Interbank Networks?" (with Selman Erol and Guillermo Ordonez)
"Labor Market Tightness during WWI and the Post-War Recession of 1920-1921" (with Jin-Wook Chang)
"CEO Ownership, Risk Management, and Bank Runs at Unlimited Liability Banks during the 1890s" (with Jae-Won Choi and Jennifer Rhee)
"The Effect of Enhanced Supervision on Banking Stability" (with Edward Kim)