Influential research by members of the Financial Markets Group has been published in some of the most recognised international journals in the field.
Click to see a collection of notable FMG working papers which have been published in American Economic Review, Econometrica, Journal of Finance, Journal of Financial Economics, Journal of Political Economy, Quarterly Journal of Economics, Review of Economic Studies, and Review of Financial Studies.
Epidemic exposure, fintech adoption, and the digital divide
Although epidemics are frequently cited as inducing changes in economic behaviour and accelerating technological and behavioural trends, there may be...
CEO Compensation: Evidence From the Field
We survey directors and investors on the objectives, constraints, and determinants of CEO pay. 67% of directors would sacrifice shareholder value to...
Shareholder Liability and Bank Failure
Does enhanced shareholder liability reduce bank failure? We compare the performance of around 4,200 state-regulated banks of similar size in...
Reducing the compliance costs of regulation
In much of the world, property sales are highly regulated and expensive. Using World Bank data, this column shows that while regulators and...
Dark Trading and Alternative Execution Priority Rules
Traders’ choice between lit and dark trading venues depends on market conditions, which are affected by execution priority rules in the dark pool...
Speculative and Precautionary Demand for Liquidity in Competitive Banking Markets
We demonstrate that the co-existence of different motives for liquidity preferences profoundly affects the efficiency of financial intermediation...
The Market for CEOs
We study the market for CEOs of large publicly-traded US firms, analyze new CEOs’ prior connections to the hiring firm, and explore how hiring choices...
Using a mean changing stochastic processes exit-entry model for stock market long-short prediction
Stochastic processes is one of the key operations research tools for analysis of complex phenomenon. This paper has a unique application to the study...
CEPS/ECMI Policy Brief – Why finalizing Basel III is good for the European banking sector
Basel III is an internationally agreed set of measures to strengthen the regulation, supervision and risk management of banks. Finalising the 2017...
Sustainability in a Risky World
This paper studies the restrictions on consumption, portfolio choice, and social discounting implied by a sustainability constraint, that utility...
Measuring human capital: Learning matters more than schooling
Human capital is a critical component of economic development. But the links between growth and human capital – when measured by years of schooling –...
SUERF Policy Brief – The way forward for EU-wide stress tests
EU-wide stress tests have constituted a very useful supervisory tool for increasing the resilience of the EU banking sector. This policy brief claims...
Property Rights and Urban Form
How do the different elements in the standard bundle of property rights, including those of possession and transfer, influence the shape of cities...
Lending Cycles and Real Outcomes: Costs of Political Misalignment
The Economic Journal, 131(693), 2763–2796
