by Sergey Chernenko and Adi Sunderam - Publications - Faculty & Research

and approved, but when minority loan officers shepherd those applications, approval rates increase significantly, says Adi Sunderam, the Willard Prescott Smith Professor of Corporate Finance at Harvard... View Details

Keywords: by Rachel Layne; Financial Services

24 Feb 2011
Research & Ideas

What’s Government’s Role in Regulating Home Purchase Financing?

The Economics of Housing Finance Reform: Privatizing, Regulating and Backstopping Mortgage Markets. In a presentation delivered recently at the Brookings Institution, Scharfstein and doctoral candidate View Details

Keywords: by Sean Silverthorne; Financial Services

30 Jan 2017
Research & Ideas

Vanguard, Trian And The Problem With 'Passive' Index Funds

of individual investors are able to wield great influence on management teams of companies in their investment portfolios. By contrast, index funds almost run on autopilot—with no active investor analyzing companies, rewarding those that... View Details

Keywords: by Michael Blanding; Financial Services

August 2020
Article

Financial Market Risk Perceptions and the Macroeconomy

By: Carolin E. Pflueger, Emil Siriwardane and Adi Sunderam

We propose a novel measure of risk perceptions: the price of volatile stocks (PVS), defined as the book-to-market ratio of low-volatility stocks minus the book-to-market ratio of high-volatility stocks. PVS is high when perceived risk directly measured from surveys and... View Details

Keywords: Risk-centric Business Cycles; Cross-section Of Equities; Real Risk-free Rate; Real Investment; Financial Markets; Risk and Uncertainty; Perception; Investment

Citation

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2014
Working Paper

The Rise and Fall of Demand for Securitizations

By: Sergey Chernenko, Samuel G. Hanson and Adi Sunderam

Collateralized debt obligations (CDOs) and private-label mortgage-backed securities (MBS) backed by nonprime loans played a central role in the recent financial crisis. Little is known, however, about the underlying forces that drove investor demand for these... View Details

Keywords: Debt Securities; Financial Markets; Financial Crisis

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Measuring the Perceived Liquidity of the Corporate Bond Market

Liquidity Transformation in Asset Management: Evidence from the Cash Holdings of Mutual Funds

Do Fire Sales Create Externalities?

The Rise and Fall of Demand for Securitizations

Gradualism in Monetary-Policy: A Time Consistency Problem?

Are There Too Many Safe Securities? Securitization and the Incentives for Information Production

Using Models to Persuade

A Measure of Risk Appetite for the Macroeconomy

Fiscal Risk and the Portfolio of Government Programs

A Quantity-Driven Theory of Term Premia and Exchange Rates

The Cross Section of Bank Value

The Targeting and Impact of Paycheck Protection Program Loans to Small Businesses

Agency Costs, Mispricing, and Ownership Structure

Inflation Bets or Deflation Hedges? The Changing Risks of Nominal Bonds

How Should US Bank Regulators Respond to the COVID-19 Crisis?

Shrinking the Racial Wealth Gap, One Mortgage at a Time

What’s Government’s Role in Regulating Home Purchase Financing?

Vanguard, Trian And The Problem With 'Passive' Index Funds

Financial Market Risk Perceptions and the Macroeconomy

The Rise and Fall of Demand for Securitizations

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