Peter Kondor

We study a model of credit markets with adverse selection where ex-ante identical lenders invest in a screening technology to reduce their type I and...

The demand-system approach identifies asset demand slopes using residual supply shocks, presuming these shocks move expected returns but not risk. In...

Portfolio choice involves substituting across many assets at once, complicating inference about asset demand. An elementary condition often captures...

Annual Review of Financial Economics, 17, 77 - 92

Hybrid regimes feature combinations of democratic and autocratic attributes. Their common element is a leader who cultivates a clientele of favored...