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Publications

The Centre has a regular discussion paper series dedicated to academic research, as well as a special paper series focused on policy analysis. In addition, affiliated researchers publish a variety of books, reports and opinion pieces.

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Academic journals

Inefficient Investment Waves

Econometrica, 84 (2), 735-780

March 2016
Zhiguo He
Peter Kondor

Special Papers

The United States dominates global investment banking: does it matter for Europe?

In the aftermath of the global financial crisis, the market share of US investment banks is increasing, while that of their European counterparts is...

March 2016
SP 243
Charles Goodhart
Dirk Schoenmaker

Special Papers

Political Economy of a Euro Area Banking Crisis

This paper features a keynote address given by Panicos O. Demetriades at “Politics, Finance and Growth” Conference Reserve Bank of South Africa...

March 2016
SP 245
Panicos O. Demetriades

Discussion Papers

What is the expected return on the market?

This paper presents a new lower bound on the equity premium in terms of a volatility index, SVIX, that can be calculated from index option prices...

March 2016
DP 750
Ian Martin

Discussion Papers

The Dynamics of expected returns: evidence from multi-scale time series modelling

Conventional wisdom posits that all the relevant investors’ information lies at the highest possible frequency of observation, so that long-run...

March 2016
DP 752
Daniele Bianchi
Andrea Tamoni

Discussion Papers

Incentive Compatible Networks and the Delegated Networking Principle

We construct a model of a principal-agent game of network formation (over layered networks) with asymmetric information and we consider the following...

February 2016
Rui Gong
Jieshuang He
Frank Page

Discussion Papers

Shadow Banks and Systemic Risks

We answer the following question: Does regulating the banking network increase systemic risk in the entire financial network in the presence of...

February 2016
Rui Gong
Frank Page

Special Papers

The Internationalization of the Renminbi

This special paper discusses the inclusion of the Chinese Renminbi in the international reserve asset Special Drawing Right (SDR) created by the...

January 2016
Ron Anderson

Discussion Papers

Exchange Rates and Monetary Policy Uncertainty

We document that a trading strategy that is short the U.S. dollar and long other currencies exhibits significantly larger excess returns on days with...

January 2016
Philippe Mueller
Alireza Tahbaz-Salehi
Andrea Vedolin

Discussion Papers

Resaleable debt and systemic risk

Many debt claims, such as bonds, are resaleable, whereas others, such as repos, are not. There was a fivefold increase in repo borrowing before the...

January 2016
Jason Donaldson
Eva Micheler

Discussion Papers

A response to Professor Paul A. Samuelson's objectionxs to Kelly capital growth investing

The Kelly Capital Growth Investment Strategy maximizes the expected utility of final wealth with a Bernoulli logarithmic utility function. In 1956...

January 2016
William T Ziemba

Special Papers

Bank Risk Premia and Abenomics: The Return of the Japan Premium in the Cross-Currency Swap Market

This paper studies the change of the Japanese banking sector during the last two decades through the lens of money market risk premia. It makes two...

January 2016
SP 242
Mimoza Shabani
Alexis Stenfors
Jan Toporowski

Discussion Papers

Marking to Market versus Taking to Market

While the debate on cost and market-value accounting has been raging for years, economists lack a framework allowing a comparison of their relative...

December 2015
Guillaume Plantin
Jean Tirole

Academic journals

Synthetic or Real? The Equilibrium Effects of Credit Default Swaps on Bond Markets

Review of Financial Studies, 28 (12): 3303-3337. 

December 2015
Martin Oehmke
Adam Zawadowski

Academic journals

Maturity rationing and collective short-termism

Journal of Financial Economics, 118 (3): 553-570

December 2015
Konstantin Milbradt
Martin Oehmke

Discussion Papers

Information Asymmetries, Volatility, Liquidity and the Tobin Tax

Information asymmetries and trading costs, in a financial market model with dynamic information, generate a self-exciting equilibrium price process...

December 2015
DP 748
Albina Danilova
Christian Julliard

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News

Mike Burkart - Winner of the 2025 ECGI Finance Series Prize

LSE announces launch of an Initiative in Sustainable Finance

Péter Kondor receives Outstanding Paper Award

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Events

Cognitive Foundations of Finance Conference

3rd London Political Finance (POLFIN) Workshop

5th Annual Conference on Non-Bank Financial Sector and Finan ...

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Seminars

Creditor-on-Creditor Violence and Secured Debt Dynamics

AI Personality Extraction from Faces: Labor Market Implicati ...

The dependence of belief dynamics on beliefs: implications f ...

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Publications

Marketwide Memory

The surprising leadership effect accelerators have on startu ...

Bond Supply, Yield Drifts, and Liquidity Provision Before Ma ...

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