Jianjun Miao

Boston University - Department of Economics

Assistant Professor

270 Bay State Road

Boston, MA 02215

United States

http://people.bu.edu/miaoj

SCHOLARLY PAPERS

41

DOWNLOADS
Rank 3,416

SSRN RANKINGS

Top 3,416

in Total Papers Downloads

11,824

SSRN CITATIONS
Rank 1,736

SSRN RANKINGS

Top 1,736

in Total Papers Citations

305

CROSSREF CITATIONS

349

Scholarly Papers (41)

1.

Capital Structure, Credit Risk, and Macroeconomic Conditions

Simon School of Business Working Paper No. FR 03-10
Number of pages: 40 Posted: 23 Apr 2003
Jianjun Miao, Dirk Hackbarth and Erwan Morellec
Boston University - Department of Economics, Boston University - Department of Finance & Economics and Ecole Polytechnique Fédérale de Lausanne
Downloads 2,053 (7,695)
Citation 80

Abstract:

Loading...

Dynamic Capital Structure, Credit Spreads, Macroeconomic Conditions

2.

The Dynamics of Mergers and Acquisitions in Oligopolistic Industries

Journal of Economic Dynamics and Control, Forthcoming, EFA 2007 Ljubljana Meetings Paper
Number of pages: 48 Posted: 05 Mar 2008 Last Revised: 15 Feb 2012
Jianjun Miao and Dirk Hackbarth
Boston University - Department of Economics and Boston University - Department of Finance & Economics
Downloads 962 (25,104)
Citation 9

Abstract:

Loading...

anticompetitive effect, industry structure, real options, takeovers

3.
Downloads 829 ( 31,105)
Citation 1

CEO Power, Compensation, and Governance

Annals of Economics and Finance Vol. 14, 2013, European Corporate Governance Institute (ECGI) - Finance Working Paper No. 324/2012
Number of pages: 44 Posted: 08 Aug 2006 Last Revised: 26 Nov 2018
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 789 (32,739)
Citation 1

Abstract:

Loading...

CEO power, moral hazard, CEO compensation, corporate governance, investor protection

CEO Power, Compensation and Governance

CEPR Discussion Paper No. 5818
Number of pages: 40 Posted: 13 Oct 2006
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 40 (467,005)
  • Add to Cart

Abstract:

Loading...

CEO power, moral hazard, CEO compensation, investor protection

4.

Dynamic Asset Allocation with Ambiguous Return Predictability

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 02 Mar 2009 Last Revised: 14 Apr 2011
Hui Chen, Nengjiu Ju and Jianjun Miao
Massachusetts Institute of Technology, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Boston University - Department of Economics
Downloads 745 (35,974)
Citation 24

Abstract:

Loading...

generalized recursive ambiguity utility, ambiguity aversion, model uncertainty, learning, portfolio choice, robustness, return predictability

5.
Downloads 724 ( 37,379)
Citation 34

Entrepreneurial Finance and Nondiversifiable Risk

Review of Financial Studies, Forthcoming
Number of pages: 64 Posted: 27 Mar 2009 Last Revised: 07 Jul 2010
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 671 (40,838)
Citation 6

Abstract:

Loading...

default, diversification benefits, entrepreneurial risk aversion, incomplete markets, idiosyncratic risk premium, hedging, capital structure, cash-out option, precautionary saving

Entrepreneurial Finance and Non-Diversifiable Risk

NBER Working Paper No. w14848
Number of pages: 45 Posted: 07 Apr 2009 Last Revised: 29 Oct 2014
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 53 (414,281)
Citation 1

Abstract:

Loading...

6.

Managerial Preferences, Corporate Governance, and Financial Structure

Number of pages: 46 Posted: 17 Mar 2006
Hong Liu and Jianjun Miao
Washington University in St. Louis - Olin Business School and Boston University - Department of Economics
Downloads 646 (43,599)
Citation 3

Abstract:

Loading...

Managerial/entrepreneurial characteristics, ownership and capital structure, private benefits of control, corporate governance

7.

Ambiguity, Learning, and Asset Returns

AFA 2009 San Francisco Meetings Paper
Number of pages: 35 Posted: 26 Sep 2007 Last Revised: 29 Dec 2009
Nengjiu Ju and Jianjun Miao
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Boston University - Department of Economics
Downloads 619 (46,112)
Citation 56

Abstract:

Loading...

ambiguity aversion, learning, pessimism, asset pricing puzzles

8.
Downloads 573 ( 50,997)
Citation 20

Optimal Capital Structure and Industry Dynamics

Number of pages: 46 Posted: 21 Oct 2003
Jianjun Miao
Boston University - Department of Economics
Downloads 573 (50,362)
Citation 20

Abstract:

Loading...

Optimal Capital Structure and Industry Dynamics

Journal of Finance, Forthcoming
Posted: 24 Jan 2005
Jianjun Miao
Boston University - Department of Economics

Abstract:

Loading...

9.
Downloads 357 ( 90,440)
Citation 8

Credit Risk and Business Cycles

Number of pages: 48 Posted: 11 Nov 2010
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 241 (137,280)
Citation 9

Abstract:

Loading...

credit risk, credit spread, dynamic capital structure, equity premium, business cycles, investment, q-theory

Credit Risk and Business Cycles

Number of pages: 48 Posted: 09 Mar 2011
Pengfei Wang and Jianjun Miao
HKUST, Department of Economics and Boston University - Department of Economics
Downloads 116 (259,351)
Citation 2

Abstract:

Loading...

Credit Risk, Credit Spread, Dynamic Capital Structure, Equity Premium, Business Cycles

10.
Downloads 340 ( 95,620)
Citation 11

Ambiguity Aversion and Variance Premium

Number of pages: 41 Posted: 17 Mar 2012 Last Revised: 16 May 2012
Jianjun Miao, Bin Wei and Hao Zhou
Boston University - Department of Economics, Federal Reserve Bank of Atlanta and Tsinghua University - PBC School of Finance
Downloads 301 (108,725)
Citation 9

Abstract:

Loading...

Ambiguity aversion, learning, variance premium, regime-shift, belief distortion, return predictability

Ambiguity Aversion and Variance Premium

FRB Atlanta Working Paper No. 2018-14
Number of pages: 41 Posted: 31 Jan 2019 Last Revised: 29 Apr 2020
Jianjun Miao, Bin Wei and Hao Zhou
Boston University - Department of Economics, Federal Reserve Bank of Atlanta and Tsinghua University - PBC School of Finance
Downloads 39 (471,522)
Citation 2

Abstract:

Loading...

ambiguity aversion, learning, variance premium, regime shift, belief distortion

11.
Downloads 322 (101,566)
Citation 29

Bubbles and Credit Constraints

Number of pages: 37 Posted: 07 Mar 2011
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 260 (127,070)
Citation 21

Abstract:

Loading...

Bubbles, Collateral Constraints, Credit Policy, Asset Price, Arbitrage, Q Theory, Liquidity

Bubbles and Credit Constraints

Number of pages: 37 Posted: 07 Mar 2011
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and affiliation not provided to SSRN
Downloads 62 (383,406)
Citation 36

Abstract:

Loading...

Bubbles, Collateral Constraints, Credit Policy, Asset Price, Arbitrage, Q Theory, Liquidity

12.
Downloads 322 (101,566)
Citation 16

Advance Information and Asset Prices

Journal of Economic Theory, Vol. 149, 2014
Number of pages: 55 Posted: 24 Feb 2008 Last Revised: 20 Aug 2015
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 215 (153,439)
Citation 2

Abstract:

Loading...

advance information, rational expectations equilibrium, momentum and reversal effects

Advance Information and Asset Prices

Number of pages: 59 Posted: 17 Mar 2008 Last Revised: 05 Nov 2019
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 104 (280,596)
Citation 4

Abstract:

Loading...

advance information, momentum and reversal effects, rational expectations equilibrium

Advance Information and Asset Prices

CEPR Discussion Paper No. DP6588
Number of pages: 60 Posted: 09 Jun 2008
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 3 (709,270)
Citation 1
  • Add to Cart

Abstract:

Loading...

advance information, momentum and reversal effects, overreaction, rational expectations equilibrium, underreaction

13.

Learning, Investment, and Entrepreneurial Survival: A Real Options Approach

Number of pages: 35 Posted: 17 Mar 2006
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 316 (103,741)

Abstract:

Loading...

real options, learning, private firm value, survival, precautionary savings, incomplete markets

14.
Downloads 310 (105,822)
Citation 6

Risk, Uncertainty, and Option Exercise

Number of pages: 36 Posted: 15 Oct 2004
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 270 (121,977)
Citation 4

Abstract:

Loading...

Ambiguity, multiple-priors utility, real options, optimal stopping problem

Risk, Uncertainty, and Option Exercise

Journal of Economic Dynamics & Control, Vol. 35, pp. 442-461, 2004
Number of pages: 30 Posted: 26 Oct 2011
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 40 (467,005)

Abstract:

Loading...

15.

Irreversible Investment with Regime Shifts

Simon School of Business Working Paper No. FR 02-20
Number of pages: 32 Posted: 03 Dec 2002
Xin Guo, Jianjun Miao and Erwan Morellec
affiliation not provided to SSRN, Boston University - Department of Economics and Ecole Polytechnique Fédérale de Lausanne
Downloads 300 (109,727)
Citation 19

Abstract:

Loading...

Investment, Capacity Choice, Regime Shifts, Real Options

Investment, Consumption and Hedging Under Incomplete Markets

Number of pages: 42 Posted: 04 Aug 2005
Jianjun Miao and Neng Wang
Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 234 (141,291)
Citation 3

Abstract:

Loading...

real options, idiosyncratic risk, hedging, risk aversion, precautionary saving, incomplete markets

Investment, Consumption, and Hedging Under Incomplete Markets

NBER Working Paper No. w13250
Number of pages: 47 Posted: 13 Jul 2007 Last Revised: 29 Oct 2014
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 42 (458,105)
Citation 2

Abstract:

Loading...

17.

Dynamic Effects of Permanent and Temporary Dividend Tax Policies on Corporate Investment and Financial Policies

Number of pages: 41 Posted: 10 Oct 2007
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 232 (143,038)
Citation 6

Abstract:

Loading...

dividend tax policies, investment and financial policies, finance regimes, collateral constraint, intertemporal tax arbitrage

18.

Saving China's Stock Market

Number of pages: 40 Posted: 13 Aug 2016
Yi Huang, Jianjun Miao and Pengfei Wang
Graduate Institute of International and Development Studies, Boston University - Department of Economics and HKUST, Department of Economics
Downloads 216 (153,146)
Citation 6

Abstract:

Loading...

China, Stock Market Crash, Government intervention

19.

Monetary Policy and Economic Growth Under Money Illusion

Number of pages: 40 Posted: 16 Oct 2007
Danyang Xie and Jianjun Miao
Hong Kong University of Science & Technology (HKUST) - Department of Economics and Boston University - Department of Economics
Downloads 213 (155,157)
Citation 2

Abstract:

Loading...

money illusion, inflation, growth, welfare cost, behavioral macroeconomics

20.

Oil Price Implied Structural Shocks and Cross-sectional Stock Returns

Number of pages: 36 Posted: 04 Oct 2016 Last Revised: 17 Apr 2019
Dayong Huang and Jianjun Miao
University of North Carolina (UNC) at Greensboro - Bryan School of Business & Economics and Boston University - Department of Economics
Downloads 183 (178,439)

Abstract:

Loading...

oil prices, return spread, cross section, factor model

21.

Sectoral Bubbles and Endogenous Growth

Number of pages: 36 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 168 (192,260)
Citation 7

Abstract:

Loading...

Bubbles, Collateral Constraints, Externality, Economic Growth, Capital Reallocation, Multiple Equilibria

22.

Investment, Hedging, and Consumption Smoothing

Simon School Working Paper No. FR 04-15
Number of pages: 47 Posted: 19 Jul 2004
Jianjun Miao and Neng Wang
Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 163 (197,309)
Citation 1

Abstract:

Loading...

Real options, risk aversion, incomplete markets, hedging, precautionary saving

23.

Banking Bubbles and Financial Crisis

Number of pages: 33 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 141 (222,415)
Citation 7

Abstract:

Loading...

Banking Bubble, Multiple Equilibria, Financial Crisis, Self-fulfilling Prophecy, Credit Policy, Capital Requirements, Borrowing Constraints

24.

Stock Market Bubbles and Unemployment

Number of pages: 46 Posted: 10 Apr 2012
Jianjun Miao, Pengfei Wang and Lifang Xu
Boston University - Department of Economics, HKUST, Department of Economics and Shanghai National Accounting Institute
Downloads 137 (227,569)
Citation 10

Abstract:

Loading...

stock market bubbles, unemployment, self-fulfilling beliefs, credit constraints, multiple equilibria, search and matching

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform

Number of pages: 44 Posted: 12 Nov 2006
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 109 (271,353)
Citation 9

Abstract:

Loading...

firm heterogeneity, general equilibrium, finance regime, the new and tranditional veiws of dividend taxation

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform

NBER Working Paper No. w15044
Number of pages: 50 Posted: 08 Jun 2009 Last Revised: 11 Aug 2010
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 14 (624,032)

Abstract:

Loading...

26.
Downloads 123 (247,191)
Citation 5

Option Exercise with Temptation

Number of pages: 33 Posted: 15 Sep 2004
Jianjun Miao
Boston University - Department of Economics
Downloads 91 (306,527)
Citation 2

Abstract:

Loading...

Option Exercise With Temptation

Economic Theory, 2006
Number of pages: 29 Posted: 04 Mar 2007
Jianjun Miao
Boston University - Department of Economics
Downloads 32 (505,911)
Citation 1

Abstract:

Loading...

time (in)consistencey, self-control, temptation, procrastination, preproperation, option value

27.

A Search Model of Centralized and Decentralized Trade

Number of pages: 38 Posted: 18 Oct 2004
Jianjun Miao
Boston University - Department of Economics
Downloads 76 (339,174)
Citation 16

Abstract:

Loading...

Search, matching and bargaining, bid-ask spread, liquidity, welfare, Walrasian equilibrium

28.

Bubbles and Total Factor Productivity

American Economic Review, Forthcoming
Number of pages: 6 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 69 (357,876)
Citation 3

Abstract:

Loading...

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

Federal Reserve Bank of St. Louis Working Paper No. 2011-018B
Number of pages: 54 Posted: 15 Apr 2009 Last Revised: 02 Jun 2011
Purdue University - Department of Economics, Boston University - Department of Economics, Federal Reserve Bank of St. Louis and University of Miami - School of Business Administration - Department of Economics
Downloads 69 (362,080)
Citation 2

Abstract:

Loading...

Heterogeneous agents, taxes, externalities, financial frictions, competitive equilibrium, computation, simulation

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

International Economic Review, Vol. 55, Issue 1, pp. 83-110, 2014
Number of pages: 28 Posted: 25 Jan 2014
Purdue University - Department of Economics, Boston University - Department of Economics, Federal Reserve Bank of St. Louis and University of Miami - School of Business Administration - Department of Economics
Downloads 0
  • Add to Cart

Abstract:

Loading...

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Number of pages: 35 Posted: 10 Nov 2003
Jianjun Miao
Boston University - Department of Economics
Downloads 62 (383,406)
Citation 17

Abstract:

Loading...

competitive equilibrium, recursive equilibrium, aggregate distribution, heterogeneity, incomplete markets, aggregate shocks

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Journal of Economic Theory, Forthcoming
Posted: 24 Jan 2005
Jianjun Miao
Boston University - Department of Economics

Abstract:

Loading...

31.

Does Lumpy Investment Matter for Business Cycles?

Number of pages: 46 Posted: 24 Apr 2009
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 45 (436,961)
Citation 1

Abstract:

Loading...

generalized (S,s) rule, lumpy investment, general equilibrium, business cycles, marginal Q, exact irrelevance proposition

32.

Land Prices and Unemployment

FRB Atlanta Working Paper No. 2013-6
Number of pages: 45 Posted: 22 Mar 2015
Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 32 (493,439)
Citation 2

Abstract:

Loading...

Housing and labor markets, volatility, match value of employment, marginal utility of consumption, credit channel, labor channel

Liquidity Premia, Price-Rent Dynamics, and Business Cycles

FRB Atlanta Working Paper No. 2014-15
Number of pages: 54 Posted: 04 Apr 2015
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 25 (547,283)
Citation 1

Abstract:

Loading...

asset pricing, financial frictions, working capital, cutoff productivity, heterogeneous firms, endogenous TFP, house price, liquidity constraint

Discount Shock, Price-Rent Dynamics, and the Business Cycle

NBER Working Paper No. w20377
Number of pages: 56 Posted: 18 Aug 2014
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 7 (676,674)

Abstract:

Loading...

34.

What Does the Corporate Income Tax Tax? A Simple Model Without Capital

NBER Working Paper No. w16199
Number of pages: 21 Posted: 19 Jul 2010
Laurence J. Kotlikoff and Jianjun Miao
Boston University - Department of Economics and Boston University - Department of Economics
Downloads 18 (574,827)

Abstract:

Loading...

35.

Transitional Dynamics of Dividend and Capital Gains Tax Cuts

NBER Working Paper No. w16157
Number of pages: 34 Posted: 12 Jul 2010 Last Revised: 05 Nov 2010
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 14 (600,749)
Citation 2

Abstract:

Loading...

36.

Discount Shock, Price-Rent Dynamics, and the Business Cycle

FRB Atlanta Working Paper No. 2020-7
Number of pages: 43 Posted: 23 May 2020
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 8 (641,900)

Abstract:

Loading...

comovements, liquidity premium, stochastic discount factor, asset pricing, production economy, heterogenous firms, endogenous TFP, general equilibrium

37.

Land Prices and Unemployment

NBER Working Paper No. w19382
Number of pages: 46 Posted: 30 Aug 2013 Last Revised: 04 Jul 2014
Zheng Liu, Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 6 (655,903)
Citation 6

Abstract:

Loading...

38.

Lumpy Investment and Corporate Tax Policy

Posted: 07 Feb 2010
Pengfei Wang and Jianjun Miao
HKUST, Department of Economics and Boston University - Department of Economics

Abstract:

Loading...

generalized (S,s) rule, lumpy investment, general equilibrium, marginal Q, tax policy, adjustment costs

39.

Intertemporal Substitution and Recursive Smooth Ambiguity Preferences

Posted: 07 Feb 2010
Takashi Hayashi and Jianjun Miao
University of Texas at Austin and Boston University - Department of Economics

Abstract:

Loading...

Ambiguity, Ambiguity Aversion, Risk Aversion, Intertemporal Substitution, Model Uncertainty, Recursive Utility

40.

Informed Trading When Information Becomes Stale

Journal of Finance, Vol. 59, pp. 339-390, 2004
Posted: 27 Oct 2004
Dan Bernhardt and Jianjun Miao
University of Illinois at Urbana-Champaign - Department of Economics and Boston University - Department of Economics

Abstract:

Loading...

41.

A Two-Person Dynamic Equilibrium Under Ambiguity

Journal of Economic Dynamics and Control, Vol. 27, pp. 1253-1288, 2003
Posted: 27 Oct 2004
Larry G. Epstein and Jianjun Miao
University of Rochester - Department of Economics and Boston University - Department of Economics

Abstract:

Loading...