"Do Short Sellers Care About Corporate Hedging?" abstract We study the relationship between corporate hedging and short selling, using a novel data set on short sales of US equities over the period 2002-2009, and hand-collected data on corporate hedging. We document that hedging is associated with lower uncertainty, i.e., lower analyst forecast dispersion and greater breadth of ownership. This should…

"The Microstructure of the European Sovereign Bond Market: A Study of the Euro-zone Crisis"

"Pricing Large Financial Products"

"Financing Asset Growth"

"Financial reporting and market efficiency withextrapolative investors"

"Globalization, Exchange Rate Regimes and Financial Contagion" abstract The crisis of the Euro zone brought to the fore important questions including: what isthe proper level of financial integration and what are the optimal exchange rate arrangements between countries that are part of tightly knit financial networks. Using a simple Diamond-Dybvig-style theoretical model we show that…

"Do Consumers Know How to Value Annuities? Complexity as a Barrier to Annuitization" abstract This paper provides evidence that complexity of the annuitization decision process – rather than a preference for lump-sums –may help explain observed low levels of annuity purchases. We test this using Social Security benefits as our choice setting in an experimental module…