Research

Refereed Publications

10. "Measuring Bias in Consumer Lending," with W. Dobbie, A. Liberman, and V. Pathania. Review of Economic Studies, Forthcoming.

(2020 Working Paper)

9. "High Cost Debt and Perceived Creditworthiness: Evidence from the U.K." with A. Liberman and V. Pathania, Journal of Financial Economics, forthcoming.

(2020 Working Paper)

8. “Screening on Loan Terms: Evidence from Maturity Choice in Consumer Credit,” with A. Hertzberg and A. Liberman, Review of Financial Studies, Volume 31, Issue 9, September 2018, Pages 3532–3567. Previously circulated as: “Adverse Selection and Loan Maturity: Evidence from Consumer Credit”

(2017 Working Paper)

7. “Cultural Proximity and Loan Outcomes," with R. Fisman and V. Vig. American Economic Review. 2017, 107(2), 457-492.

(2015 Working Paper Version)

6. “Risk Aversion and Wealth: Evidence from Person-to-Person Lending Portfolios,” with V. Rappoport and E. Ravina. Management Science, 2017, 63(2), 279-297..

(2015 Working Paper Version)

5. “Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data,” with V. Rappoport, P. Schnabl, and D. Wolfenzon. Review of Economic Studies, 2014, 82(1), 333-359.

(2014 Working Paper Version) (Online Appendix)

4. “The Effect of Financing Constraints on Risk,” with H. Lin., September 2011. Review of Finance, 17(1): 229-259.

(RoF Advance Access)

3. “Public Information and Coordination: Evidence from a Credit Registry Expansion,” with A. Hertzberg and J. Liberti. Journal of Finance, 66(2): 379-412. April 2011. Brattle Award: Distinguished Paper.

(2010 Working Paper Version) (Online Appendix)

2. “Information and Incentives inside the Firm: Evidence from Loan Officer Rotation”, with A. Hertzberg and J. Liberti. Journal of Finance, 65(3): 795-828. June 2010. Brattle Award: First Prize.

(2009 Working Paper Version) (Online Appendix)

1. “Local Bank Financial Constraints and Firm Access to External Finance”, Journal of Finance, 63(5): 2161-2193, October 2008. Brattle Award: Distinguished Paper.

(2006 Working Paper Version)

Working Papers

• "Deposit Withdrawals," with N. Artavanis, C. Robles-Garcia, A. Seru, and M. Tsoutsoura. Working paper out soon.
• “Loan Fire Sales,” with M. Benetton and S. Mayordomo. April 2020.
• “Bank Local Specialization,” with A. Duquerroy, C. Mazet-Sonilhac, and J. S. Mesonnier. June 2020.
• “How Sensitive is Entrepreneurial Investment to the Cost of Outside Equity? Evidence from an UK Tax Relief,” with Juanita Gonzalez-Uribe. April 2019. (Online Appendix)
• “Specialization in Bank Lending: Evidence from Exporting Firms,” with V. Rappoport and P. Schnabl. January 2020.
• “The Incentive Effect of Scores: Randomized Evidence from Credit Committees,” With A. Schoar, January 2016.
• “Delegated Monitoring of Fraud: The Role of Non-Contractual Incentives,” with H. Lin. August 2011. Charles River Associates Award: Best Paper on Corporate Finance 2010.