Martin Oehmke

Professor of Finance
London School of Economics and Political Science

FTG Member (board member 2016-18)
CEPR Research Fellow
ESRB Advisory Scientific Committee

Working Papers:

A Theory of Socially Responsible Investment (with Marcus Opp)

The Tragedy of Complexity (with Adam Zawadowski)

Gradual Arbitrage

A Theory of Multiperiod Debt Structure (with Chong Huang and Hongda Zhong), 2019, Review of Financial Studies 32(11), 4447-4500

Bank Resolution and the Structure of Global Banks (with Patrick Bolton), 2019, Review of Financial Studies 32(6), 2384-2421

The Anatomy of the CDS Market (with Adam Zawadowski), 2017, Review of Financial Studies 30(1), 80-119
[working paper version] [published version] [internet appendix] [slides]

Synthetic or Real? The Equilibrium Effects of Credit Default Swaps on Bond Markets (with Adam Zawadowski), 2015, Review of Financial Studies 28(12), 3303-3337
[working paper version] [published version] [internet appendix] [slides]

Should Derivatives Be Privileged in Bankruptcy? (with Patrick Bolton), 2015, Journal of Finance 70(6), 2353-2394

Maturity Rationing and Collective Short-Termism (with Konstantin Milbradt), 2015, Journal of Financial Economics 118(3), 553-570
[working paper version] [published version] [slides]

Predatory Short Selling (with Markus K. Brunnermeier), 2014, Review of Finance 18(6), 2153-2195
Winner of the 2015 Pagano-Zechner Award for the best non-investments paper published in the Review of Finance

Liquidating Illiquid Collateral, 2014, Journal of Economic Theory 149, 183-210

Strategic Conduct in Credit Derivative Markets (with Patrick Bolton), 2013, International Journal of Industrial Organization 31(5), 652-658
[working paper version] [published version]

Bubbles, Financial Crises, and Systemic Risk (with Markus K. Brunnermeier), 2013, Handbook of the Economics of Finance Volume 2, 1221-1288
[working paper version] [published version]

The Maturity Rat Race (with Markus K. Brunnermeier), 2013, Journal of Finance 68(2), 483-521
Winner of 2013 Brattle Group Distinguished Paper Award
[working paper version] [published version] [slides]

Credit Default Swaps and the Empty Creditor Problem (with Patrick Bolton), 2011, Review of Financial Studies 24(8), 2617-2655
Winner of the Goldman Sachs International Prize for the Best Conference Paper at the 2010 EFA
Summarized in CFA Digest 42(1), February 2012

[working paper version] [published version] [slides]

Non-technical papers:

Complexity in Financial Markets (with Markus K. Brunnermeier)
[working paper version]