Bank Credit Cycles

co-authored with Ping He, Review of Economic Studies, Volume 75, 2008, Pages 1181-1214

Bank Regulation when “Banks” and “Banking” are not the same

Oxford Review of Economic Policy, Volume 10, No. 4

Banks and Derivatives

co-authored with Richard Rosen, NBER Macroeconomics Annual, Volume 10, 1995, Pages 229-349

Banks and loan sales Marketing nonmarketable assets

co-authored with George Pennacchi, Journal of Monetary Economics, Volume 35, 1995, Pages 389-411

Banks as Secret Keepers

co-authored with Tri Vi Dang, Bengt Holmstrom and Guillermo Ordonez, American Economic Review, Volume 107, No.4, 2017, Pages 1005-1029

Corporate Control, Portfolio Choice, and the Decline of Banking

co-authored with Richard Rosen, The Journal of Finance, Volume L, No. 5, December 1995

Design of Bank Loan Contracts

co-authored with James Kahn, The Review of Financial Studies, Volume 13, No. 2, Summer 2000, Pages 331-364

Financial Intermediaries and Liquidity Creation

co-authored with George Pennacchi, The Journal of Finance, Volume 45, No. 1, March 1990

Financial Intermediation

co-authored with Andrew Winton, Chapter 08 in Handbook of the Economics of Finance, Volume 1, Part 1, 2003, Pages 431-552

Liquidity Provision, Bank Capital, and the Macroeconomy

co-authored with Andrew Winton, Journal of Money, Credit and Banking, Volume 49, No. 1, February 2017


co-authored with Andrew Metrick, National Bureau of Economic Research, Inc., NBER Working Paper 18611, 2012

Special Purpose Vehicles and Securitization

co-authored with Nicholas Souleles, FRB Philadelphia Working Paper No. 05-21,  September 1, 2005

The Development of Opacity in U.S. Banking

Yale Journal on Regulation Volume 3, Issue 3, 2014