Curriculum Vitae

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My Research











I am an applied theorist. I am interested in finance and macroeconomics. Most of my research takes a general equilibrium and/or mechanism design approach. Please click on the following links for research topics. Information on citations to my papers is available at my Google Scholar page.






Research on Learning and Asset Pricing



Under recursive preference, learning increases risk premium, and brings model closer to data.






Research on Option Exercise and the Cross-section of Equity Returns



Options are less risky than assets in place. I explore general equilibrium mechanisms in which options are less risky than assets in place, thereby reconciling the "value premium".






A General Equilibrium-Mechanism Design Framework for Corporate Investment and Payout



We incorporate dynamic mechanism design into general equilibrium models of heterogeneous firms to provide a coherent framework to study firmsí investment and payout policies.


Research on Financial Intermediation and Capital Structure






Numerical Methods



Numerical methods to solve dynamic models with recursive preference, or heterogeneous firms, or both.









Invited discussions I gave at conferences.






Older Working Papers



Working papers that are a little outdated, but I expect to come back to sometime in the future.








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