Now showing items 1-6 of 6
Measuring Information in Financial Markets
The measurement of information in financial markets is fundamental to our understanding of investor heterogeneity and the efficiency of stock prices. In the first chapter, I introduce Weighted Trading Correlation Network ...
The Role of Financial Institutions on Real Outcomes
This dissertation contains three chapters. The first chapter studies the causal effect of local bank financing on employment growth in service occupations. Using changes in liquor laws as quasi-exogenous shifts in ...
Asset Prices with Labor and Jump Risk
This dissertation investigates the asset pricing implications of labor-induced leverage and the incidence of jumps. Due to wage stickiness and firm-specific human capital, labor induces operating leverage that contributes ...
Essays on Financial Markets
This dissertation contains three chapters. In the first chapter, I test whether margin requirements cause asset price volatility. Using novel data on margin requirements and by exploiting exogenous variation from a ...
Essays on Financial Institutions and Household Finance
This dissertation contains three chapters. In the first chapter, I examine the relationship between consolidation in the banking industry and economic mobility. I find that low income households face reduced credit access ...
Essays on Asset Pricing
This dissertation studies asset pricing from three perspectives. The first chapter takes the view of a long-run buy-and-hold investor, and offers an an explanation to prominent cross-sectional return anomalies. A commonality ...