Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation (with Wang, Y., Whited, T., and Xao, K.) Forthcoming in Journal of Finance.
Low Interest Rates and Risk Incentives for Banks with Market Power (with Whited, T. and Xiao, K.), 2021. Journal of Monetary Economics, 121, 155-174.
Managerial Control Benefits and Takeover Market Efficiency (with Wenyu Wang), 2019. Journal of Financial Economics, 136(3), 857-878.
What's Behind the Smooth Dividends? Evidence from Structural Estimation, 2018. Review of Financial Studies, 31(10), 3979-4016.
Collateral, Taxes, and Leverage (with Whited, T. and Li, S.), 2016. Review of Financial Studies, 29 (6), 1453–1500.