Martin Oehmke

Associate Professor of Finance
London School of Economics and Political Science

FTG Member (board member 2016-18)
CEPR Research Fellow

Working Papers:

A Theory of Multiperiod Debt Structure (with Chong Huang and Hongda Zhong) [forthcoming in the Review of Financial Studies.]

The Tragedy of Complexity (with Adam Zawadowski)

Gradual Arbitrage

Bank Resolution and the Structure of Global Banks (with Patrick Bolton), 2018, Review of Financial Studies (forthcoming).

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]