Current Interests and expertise

Regulation of financial intermediaries; government financial management; leadership; and corporate investments in liquid assets

Published and Accepted Papers

  • The Politics of Bank Failures: Evidence from Emerging Markets (with Serdar Dinc), The Quarterly Journal of Economics 120 (2005), 1413-1444. [PUB, PDF, SSRN]
  • Too Many to Fail? Evidence of Regulatory Forbearance When the Banking Sector is Weak (with Serdar Dinc), The Review of Financial Studies 24 (2011), 1378-1405. [PUB, PDF, SSRN]
  • The Politics of Government Financial Management: Evidence from State Bonds, Journal of Monetary Economics 90 (2017), 158-175. [PUB, PDF, SSRN, SSRN]

Working Papers

  • Economic Leadership and Growth, revision requested, Journal of Monetary Economics. [PDF, SSRN]
    • Leaders at Work: Donald Trump's Economy. [BLOG]
  • Business Groups with Banks: Investment Efficiency and Tunneling (with Deniz Yavuz). [PDF, SSRN]
  • Practice beyond Education: Legal Leaders and Institutions. [PDF, SSRN]
  • Power and Paranoid Suspicion (with Xu Weibiao). [PDF, SSRN]
  • Marketable Securities: Storage or Investment? [SSRN]
  • The Lure of the Slant and the Banality of the Conservative. [SSRN]

Work in Progress

  • Hedging Cash Flows.

Book Chapters

  • The Cash-Flow Risk of Corporate Market Investments. In: Advances in Financial Risk Management—Corporates, Intermediaries and Portfolios, Batten, Jonathan A.; MacKay, Peter; Wagner, Niklas (Eds.) Palgrave Advances in Risk Management. London: Palgrave Macmillan. [PUB]