Lukas Schmid
Professor of Finance and Business Economics
USC Marshall School of Business
Working Papers
Risk-adjusted Capital Allocation, Misallocation, and Aggregate TFP, with Joel David and David Zeke, NASDAQ Award for Best Paper on Asset Pricing, WFA 2018
The Risks of Safe Assets, with Yang Liu and Amir Yaron
Q: Risk, Rents, or Growth?, with Alexandre Corhay and Howard Kung
Credit Market Equivalents and the Valuation of Private Firms, with Niklas Huether and Roberto Steri
The Term Structure of CIP Violations, with Patrick Augustin, Mikhail Chernov, and Dongho Song, poster
Marking to Market Corporate Debt, with Lorenzo Bretscher, Peter Feldhuetter, and Andrew Kane, ASU Sonoran Jacob Gold & Associates Best Paper Prize 2021
Institutional Corporate Bond Pricing, with Lorenzo Bretscher, Ishita Sen, and Varun Sharma
Government Debt Management and Inflation with Real and Nominal Bonds, with Vytautas Valaitis and Alessandro Villa
Publications
Levered Returns, with Joao Gomes, Journal of Finance, 2010, Smith-Breeden Award for best asset pricing paper in the Journal of Finance
The Market Price of Fiscal Uncertainty, with Max Croce and Thien Nguyen, Journal of Monetary Economics, 2012, Lead article
Fiscal Policies and Asset Prices, with Max Croce, Howard Kung and Thien Nguyen, Review of Financial Studies, 2012, Lead article
Investment-Based Corporate Bond Pricing, with Lars-Alexander Kuehn, Journal of Finance, 2014, Napa Finance 2012 Best Paper Award
Innovation, Growth and Asset Prices, with Howard Kung, Journal of Finance, 2015
Sticky Leverage, with Joao Gomes and Urban Jermann, American Economic Review, 2016
Interest Rate Risk Management in Uncertain Times, with Lorenzo Bretscher and Andrea Vedolin, Review of Financial Studies, 2018
Dynamic Corporate Liquidity, with Boris Nikolov and Roberto Steri, Journal of Financial Economics, 2019
Government Debt and the Returns to Innovation, with Max Croce, Thien Nguyen and Steven Raymond, Journal of Financial Economics, 2019
Equilibrium Asset Pricing with Leverage and Default, with Joao Gomes, Journal of Finance, 2020, Jacobs Levy Equity Management Center Research Prize 201
A Macrofinance View of US Sovereign CDS Premiums, with Mikhail Chernov and Andres Schneider, Journal of Finance, 2020, Warga Best Fixed Income Paper Award, SFS Cavalcade 2016
Competition, Markups and Predictable Returns, with Alexandre Corhay and Howard Kung, Review of Financial Studies, 2020
The Sources of Financing Constraints, with Boris Nikolov and Roberto Steri, Journal of Financial Economics, 2020
Benchmark Interest Rates when the Government is Risky, with Patrick Augustin, Mikhail Chernov, and Dongho Song, Journal of Financial Economics, 2020