Over-The-Counter Markets
"Policy Issues in the Design of Tri-Party Repo Markets" (with Adam Copeland, Antoine Martin, and Susan McLaughlin), Working Paper, Stanford University and Federal Reserve Bank of New York, Revised, July, 2012.
"Information Percolation in Segmented Markets" (with Semyon Malamud and Gustavo Manso), Working Paper, Graduate School of Business, Stanford University, March, 2013.
"A Dialogue on the Costs and Benefits of Automatic Stays for Derivatives and Repurchase Agreements" (with David Skeel), U of Penn, Inst for Law & Econ Research Paper No. 12-02, January 2012. In Bankruptcy Not Bailout: A Special Chapter 14, edited by Kenneth E. Scott and John B. Taylor, Hoover Press, 2012.
"Capital Mobility and Asset Pricing" (with Bruno Strulovici), Econometrica 2012, Volume 80:2469-2509. Supplement. Econometrica is a publication of the The Econometric Society.
Dark Markets: Asset Pricing and Information Transmission in Over-the-Counter Markets, Princeton University Press, 2012
"Does a Central Clearing Counterparty Reduce Counterparty Risk?" (with Haoxiang Zhu), Review of Asset Pricing Studies 2011, Volume 1: 74-95.
"Information Percolation" (with Gaston Giroux and Gustavo Manso), American Economics Journal: Microeconomic Theory 2010, Volume 2: 100-111.
"The Exact Law of Large Numbers for Independent Random Matching" (with Yeneng Sun), Journal of Economic Theory 2012, Volume 147: 1105-1139.
"Policy Perspectives on OTC Derivatives Market Infrastructure" (with Ada Li and Theo Lubke), Staff Report Number 424, Federal Reserve Bank of New York, January, 2010.
"The Relative Contributions of Private Information Sharing and Public Information Releases to Information Aggregation" (with Semyon Malamud and Gustavo Manso), Journal of Economic Theory 2010, Volume 145: 1574-1601.
"Information Percolation with Equilibrium Search Dynamics" (with Semyon Malamud and Gustavo Manso), Econometrica 2009, Volume 77: 1513-1574.
"Policy Issues Facing the Market for Credit Derivatives" in The Road Ahead for the Fed, edited by John D. Ciorciari and John B. Taylor, Hoover Institution Press, 2009.
"How Should We Regulate Derivatives Markets," Briefing Paper Number 5, The Pew Financial Reform Project, 2009.
"Policy Issues Facing the Market for Credit Derivatives" in The Road Ahead for the Fed, edited by John D. Ciorciari and John B. Taylor, Hoover Institution Press, 2009.
"Competing for a Share of the Global Derivatives Market: Trends and Policy Choices for the United States" (with Henry T.C. Hu), Working Paper, Graduate School of Business, Stanford University, 2008.
Senate Testimony on Credit Derivatives, July, 2008.
"Existence of Independent Random Matching" (with Yeneng Sun), Annals of Applied Probability 2007, Volume 17: 386-419.
"Systemic Illiquidity in the Federal Funds Market" (with Adam Ashcraft), American Economic Review, Papers and Proceedings 2007, Volume 97: 221-225.
"Valuation in Over-the-Counter Markets" (with Nicolae Garleanu and Lasse Pedersen), Review of Financial Studies 2007, Volume 20: 1865-1900. For the working paper version, click here.
"Information Percolation in Large Markets'' (with Gustavo Manso), American Economic Review, Papers and Proceedings 2007, Volume 97: 203-209.
"Over-the-Counter Markets" (with Nicolae Garleanu and Lasse Pedersen), Econometrica 2005, Volume 73: 1815-1847.
"Credit Risk for OTC Derivatives Portfolios: Exposure and Valuation" (with Eduardo Canabarro), in ALM of Financial Institutions, edited by Leo Tilman, Institutional Investor Books, 2004.
"Securities Lending, Shorting, and Pricing'' (with Nicolae Garleanu and Lasse Pedersen), Journal of Financial Economics 2002, Volume 66: 307-339, Winner, 2002 New York Stock Exchange Award for The Best Paper on Equity Trading.