Yueran Ma


Working Papers

Anatomy of Corporate Borrowing Constraints (with Chen Lian). May 2020. Internet Appendix.

Asset Specificity of Non-Financial Firms (with Amir Kermani). August 2020.

Two Tales of Debt (with Amir Kermani). August 2020.

Biases in Expectations: Experimental Evidence (with Augustin Landier and David Thesmar). February 2020.

A Quantitative Analysis of Distortions in Managerial Forecasts (with Tiziano Ropele, David Thesmar and David Sraer). February 2020.

[older] Bank CEO Optimism and the Financial Crisis. Supplementary Appendix.


Over-reaction in Macroeconomic Expectations (with Pedro Bordalo, Nicola Gennaioli, and Andrei Shleifer). Internet Appendix. Forthcoming, American Economic Review.

Non-Financial Firms as Cross-Market Arbitrageurs. Journal of Finance (2019).

Low Interest Rates and Risk Taking: Evidence from Individual Investment Decisions (with Chen Lian and Carmen Wang). Replicated by the Dutch Authority for the Financial Markets. Review of Financial Studies (2019). Lead article/Editor’s choice.  Internet AppendixSurvey AppendixSlidesUS and Dutch Baseline Results (Summary in VOX).

Low Interest Rates and Investor Behavior: A Behavioral Perspective (with Chen Lian). Prepared for the 62nd Economic Conference at the Federal Reserve Bank of Boston: What Are the Consequences of Long Spells of Low Interest Rates? 2018. [Slides, Video]

What is Different About Urbanization in Rich and Poor Countries? Cities in Brazil, China, India and the United States (with Juan Pablo Chauvin, Edward Glaeser, and Kristina Tobio). Journal of Urban Economics, 2016.

A Real Estate Boom with Chinese Characteristics (with Ed Glaeser and Andrei Shleifer).  Journal of Economic Perspectives, 2016.

Expectations and Investment (with Nicola Gennaioli, and Andrei Shleifer). NBER Macroeconomics Annual, 2015. Internet Appendix.

The Supply of Gender Stereotypes and Discriminatory Beliefs (with Ed Glaeser). In Human Capital in History: The American Record, 2014.