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  • Web

Research - Behavioral Finance & Financial Stability

research here . Related Themes: Credit Markets More Info The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets By: Brian S. Chen, Samuel G. Hanson & Jeremy C.... View Details
  • Web

In The Classroom - Behavioral Finance & Financial Stability

Carmen Reinhart HKS ITF-270 The Financial System and the Central Bank By: Jeremy C. Stein Harvard University Econ 1759 Behavioral Finance By: View Details
  • Web

People - Behavioral Finance & Financial Stability

Jeremy C. Stein Moise Y. Safra Professor of Economics at Harvard University Jeremy C. View Details
  • Web

Data - Behavioral Finance & Financial Stability

The Growth of Finance ” by Robin Greenwood and David Scharfstein . Appendix Data US Government Debt Project members Robin Greenwood , Sam Hanson , Jeremy Stein , and Lawrence... View Details
  • Web

Marketing - Faculty & Research

for the 2022 John D. C. Little Award. They study the effect of Airbnb’s smart-pricing algorithm on the racial disparity in the daily revenue earned by Airbnb hosts. Their empirical strategy exploits Airbnb’s... View Details
  • Web

Alumni - Global

Organizing the Greek diaspora to help rebuild the country—and create the conditions to bring its citizens home again Re: Afroditi Xydi (MBA 2022); Kyriakos Mitsotakis (MBA 1995); Andreas Stavropoulos (MBA 1997); Antonis Samaras (MBA 1976); By: Jen McFarland Flint;... View Details
  • Web

Finance - Faculty & Research

Finance Finance May 2014 Article Dynamics of Demand for Index Insurance: Evidence from a Long-Run Field Experiment By: Shawn A. Cole , Daniel Stein and Jeremy Tobacman This paper estimates how... View Details
  • Web

Faculty & Research - Business History

Jeremy S. Friedman Business, Government and the International Economy 10 results Tarun Khanna Strategy 4 results Rakesh Khurana Organizational Behavior William C. Kirby General Management 3 results Nancy F.... View Details
  • 2020
  • Working Paper

How Should U.S. Bank Regulators Respond to the COVID-19 Crisis?

By: Michael Blank, Samuel G. Hanson, Jeremy C. Stein and Adi Sunderam
Drawing on lessons from the 2007–2009 Global Financial Crisis (GFC) and a simple conceptual framework, we examine the response of U.S. bank regulators to the COVID-19 pandemic. We argue that the current regulatory strategy of “watchful waiting”—the same strategy that... View Details
Keywords: COVID-19; Bank Regulation; Recapitalization; Health Pandemics; Banks and Banking; Governing Rules, Regulations, and Reforms; Strategy; Risk Management; United States
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  • 05 Oct 2010
  • First Look

First Look: October 5, 2010

and recovery to be associated with increases in orders from Hugo Boss's retailer customers Download the paper: http://www.hbs.edu/research/pdf/11-034.pdf A Comparative-Advantage Approach to Government Debt Maturity Authors:Robin Greenwood, Samuel G. Hanson, and View Details
Keywords: Sean Silverthorne
  • 2002
  • Other Unpublished Work

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein
We build a model that helps to explain why increases in liquidity—such as lower bid–ask spreads, a lower price impact of trade, or higher turnover—predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details
Keywords: Price; Financial Liquidity; Trade; Valuation; Markets; Forecasting and Prediction; Equity; Stock Shares; Investment Return
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  • June 2010
  • Article

A Gap-Filling Theory of Corporate Debt Maturity Choice

By: Robin Greenwood, Samuel G. Hanson and Jeremy C. Stein
We argue that time-series variation in the maturity of aggregate corporate debt issues arises because firms behave as macro liquidity providers, absorbing the large supply shocks associated with changes in the maturity structure of government debt. We document that... View Details
Keywords: Business Ventures; Decision Choices and Conditions; Borrowing and Debt; Financial Liquidity; Investment Return; Government and Politics
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  • 2017
  • Working Paper

The Decline of Big-Bank Lending to Small Business: Dynamic Impacts on Local Credit and Labor Markets

By: Brian S. Chen, Samuel G. Hanson and Jeremy C. Stein
Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic adjustment process following this credit supply shock. In counties where the largest banks had a high market share, the... View Details
Keywords: Small Business; Financing and Loans; Banks and Banking; System Shocks; Credit; Labor; United States
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  • Web

Marketing Awards & Honors - Faculty & Research

Directors List for 2019. Julian De Freitas : Recipient of a Derek C. Bok Award for Excellence in Graduate Student Teaching of Undergraduates at Harvard University in spring 2019. Julian De Freitas : Awarded the Goethals Teaching Prize... View Details
  • Forthcoming
  • Article

The Imperfect Intermediation of Money-Like Assets

By: Jeremy C. Stein and Jonathan Wallen
We study supply-and-demand effects in the U.S. Treasury bill market by comparing the returns on T-bills to the administered policy rate on the Federal Reserve’s reverse repurchase (RRP) facility. In spite of the arguably more money-like properties of an investment in... View Details
Keywords: Debt Securities; Demand and Consumers; Price
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  • 2016
  • Article

The Federal Reserve's Balance Sheet as a Financial-Stability Tool

By: Robin Greenwood, Samuel Gregory Hanson and Jeremy C. Stein
We argue that the Federal Reserve should use its balance sheet to help reduce a key threat to financial stability: the tendency for private-sector financial intermediaries to engage in excessive amounts of maturity transformation—i.e., to finance risky assets using... View Details
Keywords: Central Banking; Policy; Risk Management; Public Administration Industry; United States
Related
  • 10 Oct 2017
  • First Look

First Look at New Research and Ideas, October 10, 2017

C. Stein Abstract—Small business lending by the four largest banks fell sharply relative to others in 2008 and remained depressed through 2014. We explore the dynamic... View Details
Keywords: Sean Silverthorne
  • June 2004
  • Article

Market Liquidity as a Sentiment Indicator

By: Malcolm Baker and Jeremy Stein
We build a model that helps to explain why increases in liquidity-such as lower bid-ask spreads, a lower price impact of trade, or higher turnover-predict lower subsequent returns in both firm-level and aggregate data. The model features a class of irrational... View Details
Keywords: Markets; Financial Liquidity; Price; Trade; Sales; Equity; Information; Management Analysis, Tools, and Techniques; Accounting Industry
Related
  • Web

Health Care - Faculty & Research

in which agents recruited by a public health organization to sell condoms are randomly allocated to four groups. Agents in the control group are hired as volunteers, whereas agents in the three treatment groups receive, respectively, a... View Details
  • Web

Finance Awards & Honors - Faculty & Research

on insurance. Robin Greenwood : Awarded a 2015 Brattle Prize for Distinguished Paper in Corporate Finance for “A Comparative-Advantage Approach to Government Debt Maturity” with Samuel G. Hanson and Jeremy View Details