Publications of Kathy Yuan

We model banks’ liquidity holding decision as a simultaneous game on an interbank borrowing network. We show that at the Nash equilibrium, the...

Journal of Financial Economics, 109 (2). pp. 566-582. 

We propose a new theory of suboptimal risk-taking based on contractual externalities. We examine an industry with a continuum of firms. Each firm’s...

We study a model where a capital provider learns from the price of a firm’s security in deciding how much capital to provide for new investment. This...