Working Papers

“Drawing Up the Bill: Is ESG Related to Stock Returns Around the World?“ [PDF]
(with Rómulo Alves and Philipp Krüger) – January 2024.

“Climate Risk Stress Testing: A Conceptual Review” [PDF]
(with Henk Jan Reinders and Dirk Schoenmaker) – March 2023.
CEPR Working Paper No. DP17921

“The determinants of bank liquid asset holdings“ [PDF]
(with René M. Stulz and Alvaro G. Taboada) – August 2022.
NBER Working Paper 30340

“Do the SDGs affect sovereign bond spreads? First evidence” [PDF]
(with Eline ten Bosch and Dirk Schoenmaker) – January 2022.
CEPR Working Paper No. DP16898

“A Strategic Trade Optimization Approach to Identifying Private Information” [PDF]
(with Dion Bongaerts and Dominik M. Rösch) – January 2022.

“Real-time financial stability assessment with an application to the Covid-19 crisis” [PDF]
(with Henk Jan Reinders and Dirk Schoenmaker) – January 2022.
[formerly called “Is COVID-19 a Threat to Financial Stability in Europe?” CEPR Working Paper No. DP14922]

“Intangible assets and the cross-section of stock returns“ [PDF]
(with Dion Bongaerts and Xiaowei Kang) – September 2021.

“Climate change and long-horizon portfolio choice: Combining theory and empirics” [P D F]
(with Mathijs Cosemans and Xander Hut) – September 2021.

“Assessing climate risk for investment portfolios” [PDF]
Overview study for the pension sector – October 2020

“U.S. monetary policy transmission and liquidity risk premia around the world” [PDF] [Internet Appendix]
(with G. Andrew Karolyi and Kuan-Hui Lee) – May 2019

Permanent working papers

“The Social Costs of Financial Crises” [PDF] – June 2013.

“International Capital Flows and Liquidity” [PDF]
(with Dimitrios Vagias) – February 2012.

“Strategic Competition, Capital Structure, and Market Share” [PDF]
(with Abe de Jong and Thuy Thu Nguyen) – March 2008.
EFA 2008.

“Strategic Debt: Evidence from Bertrand and Cournot Competition” [PDF]
(with Abe de Jong and Thuy Thu Nguyen) – June 2007.