top of page

Working Papers

​​

   11. The Demand and Supply of Safe and Liquid Assets

joint with Arvind Krishnamurthy (Stanford GSB)

  • Prepared for The Annual Review of Financial Economics

​

   10. The Effect of Instant Payments on the Banking System: Liquidity Transformation and Risk-taking

 joint with Ding Ding (Wharton), Rodrigo Barbone Gonzalez (Bank of Brazil), and Yao Zeng (Wharton)

​​

   9. The Dynamics of Deposit Flightiness and its Impact on Financial Stability 

joint with Kristian Blickle (New York Fed)Jane Li (Columbia) and Xu Lu (UW Seattle)

​

  ​ 8. Stablecoin Runs and the Centralization of Arbitrage 

joint with Yao Zeng (Wharton) and Anthony Lee Zhang (Chicago Booth)

​​

    7. The Passthrough of Treasury Supply to Bank Deposits 

joint with Wenhao Li (USC Marshall) and Yang Zhao (Amazon)​

  • Journal of Financial Economics, R&R

  • Arthur Warga Award for Best Paper in Fixed Income at SFS Cavalcade North America

  • Media mentions: Central Banking, PR Newswire

​

 

Accepted and Published Papers

​

     6. Bank Debt, Fund Equity, and Swing Pricing in Liquidity Provision 

joint with Kairong Xiao (Columbia GSB) and Yao Zeng (Wharton)

​​

     5. Steering a Ship in Illiquid Waters: Active Management of Passive Funds 

joint with Naz Koont (Columbia GSB), Lubos Pastor (Chicago Booth), and Yao Zeng (Wharton)

​

    4. The Reserve Supply Channel of Unconventional Monetary Policy

joint with William Diamond (Wharton) and Zhengyang Jiang (Kellogg)

 

    ​3. Monetary Policy Transmission in Segmented Markets

joint with Jens Eisenschmidt (Morgan Stanley) and Anthony Lee Zhang (Chicago Booth)

​

    2. Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity 

joint with Kairong Xiao (Columbia GSB) and Yao Zeng (Wharton)

​​

  1. Intermediation in the Interbank Lending Market

    joint with Ben Craig (Cleveland Fed)

© Yiming Ma. All rights reserved

 

bottom of page