1. The No-Arbitrage Bellman Operator: Action-Linked Constrained Reinforcement Learning for Credit Markets
2. Hedging Demand, Forward Premium, and Optimal Foreign Asset Allocation under Intermediary Constraints and FX Risk
3. Price-to-Rent Ratios, Mortgage Default, and the Fragility of RMBS
4. Beyond Momentum: Factor Autocorrelation and the Shadow Costs of Currency Intermediation
5. A Model of Pension Fund Asset Allocation with Regret Aversion
6. Bank Capital and Lending: A Model on the Interplay of Capital Regulation, Loan Composition, and Bank Value Creation
7. Wider Basis Raises USD Hedging Cost for EUR Agents, Shorten Rollover Frequency and Reduce Maturity of USD Bond Holdings
8. Climate Finance Allocation in Low-Income Countries
9. Dual Gamma & Options Traders
10. The Invoice–Collateral Channel: How USD-Invoiced Trade and Margin Constraints Shape the Cross-Currency Basis
11. A Heterogeneity–Sufficient-Statistics Theory of Skewness Pricing