Philipp Schnabl

New York University (NYU) - Department of Finance

Assistant Professor of Finance

Stern School of Business

44 West 4th Street

New York, NY 10012-1126

United States

http://pages.stern.nyu.edu/~sternfin/pschnabl/

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

Centre for Economic Policy Research (CEPR)

London

United Kingdom

SCHOLARLY PAPERS

25

DOWNLOADS
Rank 2,758

SSRN RANKINGS

Top 2,758

in Total Papers Downloads

21,602

SSRN CITATIONS
Rank 126

SSRN RANKINGS

Top 126

in Total Papers Citations

4,031

CROSSREF CITATIONS

1,820

Scholarly Papers (25)

1.
Downloads 2,442 (10,187)
Citation 316

The Deposits Channel of Monetary Policy

Number of pages: 73 Posted: 11 Dec 2014 Last Revised: 31 Mar 2017
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 2,344 (10,721)
Citation 15

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Monetary policy, deposits, market power, bank lending, liquidity

The Deposits Channel of Monetary Policy

NBER Working Paper No. w22152
Number of pages: 69 Posted: 11 Apr 2016 Last Revised: 13 Jul 2023
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 98 (459,357)
Citation 92

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2.

The Rise of Finance Companies and FinTech Lenders in Small Business Lending

Manasa Gopal, Philipp Schnabl, The Rise of Finance Companies and FinTech Lenders in Small Business Lending, The Review of Financial Studies, 2022;, hhac034, https://doi.org/10.1093/rfs/hhac034, NYU Stern School of Business
Number of pages: 86 Posted: 08 Jun 2020 Last Revised: 06 Jul 2022
Manasa Gopal and Philipp Schnabl
Georgia Institute of Technology - Scheller College of Business and New York University (NYU) - Department of Finance
Downloads 2,343 (10,945)
Citation 4

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banks, finance companies, small business lending, financial crises

Banking on Deposits: Maturity Transformation Without Interest Rate Risk

Number of pages: 92 Posted: 22 Mar 2017 Last Revised: 29 Jul 2020
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 2,088 (12,905)
Citation 10

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Banks, maturity transformation, deposits, interest rate risk

Banking on Deposits: Maturity Transformation Without Interest Rate Risk

NBER Working Paper No. w24582
Number of pages: 76 Posted: 14 May 2018 Last Revised: 03 Mar 2023
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 67 (579,695)
Citation 113

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Banking on Deposits: Maturity Transformation Without Interest Rate Risk

CEPR Discussion Paper No. DP12950
Number of pages: 67 Posted: 31 May 2018
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1 (1,091,946)
Citation 1
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banks, deposits, interest rate risk, maturity transformation

4.

The Financial Origins of the Rise and Fall of American Inflation

NYU Stern School of Business
Number of pages: 77 Posted: 10 Mar 2020
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1,884 (15,511)
Citation 4

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Inflation, monetary policy, banks, deposits, regulation Q

5.
Downloads 1,742 (17,550)
Citation 305

Securitization Without Risk Transfer

AFA 2010 Atlanta Meetings Paper
Number of pages: 51 Posted: 22 Mar 2009 Last Revised: 25 Feb 2012
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 1,537 (20,843)
Citation 9

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Asset-backed commercial paper (ABCP), shadow banking, regulatory arbitrage, bank capital, conduits, Structured investment vehicle

Securitization Without Risk Transfer

NBER Working Paper No. w15730
Number of pages: 59 Posted: 10 Feb 2010 Last Revised: 26 Jun 2022
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 193 (268,592)
Citation 123

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Securitization Without Risk Transfer

CEPR Discussion Paper No. DP8769
Number of pages: 54 Posted: 20 Jan 2012
New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 12 (993,661)
Citation 59
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asset-backed commercial paper (ABCP), bank capital, conduits, regulatory arbitrage, shadow banking, structured investment vehicle (SIV)

6.
Downloads 1,531 (21,334)
Citation 101

A Model of Monetary Policy and Risk Premia

Journal of Finance, Forthcoming
Number of pages: 63 Posted: 07 Nov 2013 Last Revised: 05 Jan 2017
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 1,378 (24,561)
Citation 2

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Monetary policy, leverage, risk premia, reaching for yield

A Model of Monetary Policy and Risk Premia

NBER Working Paper No. w20141
Number of pages: 64 Posted: 19 May 2014 Last Revised: 15 Jul 2023
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 153 (327,405)
Citation 28

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7.

How Safe are Money Market Funds?

Quarterly Journal of Economics, Forthcoming, AFA 2012 Chicago Meetings Paper
Number of pages: 50 Posted: 25 Feb 2011 Last Revised: 13 Mar 2013
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 1,442 (23,342)
Citation 34

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Risk-Taking Incentives, Money Market Funds, Financial Conglomerates

8.

SVB and Beyond: The Banking Stress of 2023

Number of pages: 261 Posted: 07 Aug 2023 Last Revised: 09 Aug 2023
New York University (NYU) - Leonard N. Stern School of Business, Department of Finance, Leonard N. Stern School of Business, New York University, New York University - Stern School of Business - Department of Economics, New York University (NYU) - Leonard N. Stern School of Business, Leonard N. Stern School of Business, NYU, National Bureau of Economic Research (NBER)Brandeis International Business School, Columbia University - Columbia Business School, Baruch College, City University of New York, New York University (NYU) - Department of Finance, New York University (NYU) - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business, Department of EconomicsStern School of Business, New York University
Downloads 1,137 (33,210)

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Regional Banking Crisis, Uninsured Deposits, Bank Runs, Silicon Valley Bank, Signature Bank, First Republic Bank, Interest Rate Risk Management, Stagflation Stress Test, Deposit Insurance, Mark to Market Accounting, Federal Home Loan Banks, Bank Supervision

9.
Downloads 1,060 (36,508)
Citation 4

Banking on Uninsured Deposits

Number of pages: 51 Posted: 19 Apr 2023
Itamar Drechsler, Alexi Savov, Philipp Schnabl and Olivier Wang
Wharton School, Department of Finance, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business
Downloads 1,037 (37,143)
Citation 1

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Banking on Uninsured Deposits

NBER Working Paper No. w31138
Number of pages: 52 Posted: 17 Apr 2023 Last Revised: 28 Jun 2023
Itamar Drechsler, Alexi Savov, Philipp Schnabl and Olivier Wang
Wharton School, Department of Finance, New York University (NYU) - Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business
Downloads 23 (879,786)
Citation 3
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The International Transmission of Bank Liquidity Shocks: Evidence from an Emerging Market

Journal of Finance, Forthcoming, NYU Working Paper No. FIN-08-008
Number of pages: 46 Posted: 09 Mar 2009 Last Revised: 05 Sep 2011
Philipp Schnabl
New York University (NYU) - Department of Finance
Downloads 840 (49,857)
Citation 56

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Bank Liquidity Shocks, Credit Supply Shocks, Foreign-owned Banks, Bank Lending Channel, Emerging Markets, Financial Contagion

Financial Globalization and the Transmission of Bank Liquidity Shocks: Evidence from an Emerging Market

Number of pages: 44 Posted: 09 Mar 2011
Philipp Schnabl
New York University (NYU) - Department of Finance
Downloads 218 (238,867)
Citation 22

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Keywords: Bank Liquidity Shocks, Credit Supply Shocks, Foreign-owned Banks, Bank Lending Channel, Emerging Markets, Financial Contagion

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

Journal of Finance, Forthcoming
Number of pages: 69 Posted: 19 Jun 2011 Last Revised: 01 Oct 2015
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 670 (67,249)
Citation 15

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Financial Crises, Sovereign Debt, Credit Default Swaps

A Pyrrhic Victory? - Bank Bailouts and Sovereign Credit Risk

NBER Working Paper No. w17136
Number of pages: 59 Posted: 20 Jun 2011 Last Revised: 29 Apr 2023
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 72 (556,786)

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A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

NYU Working Paper No. 2451/31331
Number of pages: 59 Posted: 26 Jun 2013
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 60 (614,140)

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A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

CEPR Discussion Paper No. DP8679
Number of pages: 62 Posted: 22 Dec 2011
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 9 (1,024,198)
Citation 92
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credit default swaps, deleveraging, financial crises, forbearance, growth, sovereign debt

When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009

Number of pages: 39 Posted: 17 Nov 2009 Last Revised: 19 Nov 2009
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 641 (71,400)
Citation 21

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When Safe Proved Risky: Commercial Paper During the Financial Crisis of 2007-2009

NBER Working Paper No. w15538
Number of pages: 40 Posted: 24 Nov 2009 Last Revised: 17 Jun 2023
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 82 (519,109)

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13.
Downloads 638 (72,804)
Citation 18

How Monetary Policy Shaped the Housing Boom

NYU Stern School of Business
Number of pages: 68 Posted: 08 Mar 2019 Last Revised: 30 Apr 2021
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 609 (75,955)

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Monetary Policy, Mortgage Lending, Banks, Securitization, Deposits, Private-Label Securitization

How Monetary Policy Shaped the Housing Boom

NBER Working Paper No. w25649
Number of pages: 52 Posted: 19 Mar 2019 Last Revised: 30 Jan 2023
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 29 (833,823)

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How Monetary Policy Shaped the Housing Boom

CEPR Discussion Paper No. DP14252
Number of pages: 54 Posted: 14 Jan 2020
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 0
Citation 15
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banks, deposits, monetary policy, Mortgage lending, Private- label securitization, Securitization

14.
Downloads 428 (118,132)
Citation 210

The Role of Technology in Mortgage Lending

FRB of New York Staff Report No. 836
Number of pages: 75 Posted: 21 Feb 2018
École Polytechnique Fédérale de Lausanne, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of Philadelphia
Downloads 326 (158,895)
Citation 4

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mortgage, technology, prepayments, nonbanks

The Role of Technology in Mortgage Lending

NBER Working Paper No. w24500
Number of pages: 61 Posted: 24 Apr 2018 Last Revised: 12 Jun 2022
École Polytechnique Fédérale de Lausanne, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of Philadelphia
Downloads 100 (453,180)
Citation 180

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The Role of Technology in Mortgage Lending

CEPR Discussion Paper No. DP12961
Number of pages: 77 Posted: 05 Jun 2018
New York University (NYU) - Department of Finance, École Polytechnique Fédérale de Lausanne, Federal Reserve Bank of Philadelphia and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 2 (1,083,049)
Citation 27
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Financial Intermediation, Fintech, Mortgages

15.

A Tale of Two Overhangs: The Nexus of Financial Sector and Sovereign Credit Risks

Financial Stability Review, No. 16, April 2012
Number of pages: 6 Posted: 29 Apr 2012
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 382 (134,590)
Citation 7

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Sovereign Debt, Financial Crisis, Bailouts, Debt Overhang, Credit Default Swaps

16.
Downloads 381 (135,383)
Citation 86

Efficient Recapitalization

Journal of Finance, Forthcoming
Number of pages: 56 Posted: 06 Oct 2009 Last Revised: 09 Aug 2012
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 222 (234,812)
Citation 18

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Efficient Recapitalization

NBER Working Paper No. w14929
Number of pages: 56 Posted: 03 May 2009 Last Revised: 17 Oct 2022
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 100 (456,248)

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Efficient Recapitalization

NYU Working Paper No. 2451/28301
Number of pages: 61 Posted: 10 Sep 2013
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 54 (647,298)

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Efficient Recapitalization

CEPR Discussion Paper No. DP7516
Number of pages: 63 Posted: 17 Nov 2009
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 5 (1,060,028)
Citation 3
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bailout, capital, financial crisis, moral hazard

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

Economic Review, International Monetary Fund, Forthcoming
Number of pages: 61 Posted: 08 Apr 2010 Last Revised: 21 Apr 2010
Viral V. Acharya, Viral V. Acharya and Philipp Schnabl
New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 274 (191,443)
Citation 23

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Financial crisis, financial fragility, maturity mismatch, capital requirements, tail risk

Do Global Banks Spread Global Imbalances? The Case of Asset-Backed Commercial Paper During the Financial Crisis of 2007-09

NBER Working Paper No. w16079
Number of pages: 62 Posted: 14 Jun 2010 Last Revised: 09 Jun 2023
Viral V. Acharya, Viral V. Acharya and Philipp Schnabl
New York University (NYU) - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 65 (594,039)

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Specialization in Bank Lending: Evidence from Exporting Firms

Journal of Finance, Forthcoming
Number of pages: 66 Posted: 27 Dec 2021 Last Revised: 06 Jul 2022
Daniel Paravisini, Veronica Rappoport and Philipp Schnabl
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE) and New York University (NYU) - Department of Finance
Downloads 263 (198,749)
Citation 30

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Bank specialization, Exports, Within-firm Estimator

Specialization in Bank Lending: Evidence from Exporting Firms

NBER Working Paper No. w21800
Number of pages: 60 Posted: 14 Dec 2015 Last Revised: 10 Jul 2023
Daniel Paravisini, Veronica Rappoport and Philipp Schnabl
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE) and New York University (NYU) - Department of Finance
Downloads 47 (689,757)

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Specialization in Bank Lending: Evidence from Exporting Firms

CEPR Discussion Paper No. DP12156
Number of pages: 59 Posted: 25 Jul 2017
Daniel Paravisini, Philipp Schnabl and Veronica Rappoport
London School of Economics & Political Science (LSE), New York University (NYU) - Department of Finance and London School of Economics & Political Science (LSE)
Downloads 0
Citation 7
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Banking, Export Finance, specialization

Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

Number of pages: 48 Posted: 15 Mar 2011 Last Revised: 10 Jun 2013
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE), New York University (NYU) - Department of Finance and Columbia University - Columbia Business School, Finance
Downloads 120 (396,516)
Citation 76

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Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

NYU Working Paper No. FIN-11-008
Number of pages: 49 Posted: 06 Nov 2011
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE), New York University (NYU) - Department of Finance and Columbia University - Columbia Business School, Finance
Downloads 70 (565,652)

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Dissecting the Effect of Credit Supply on Trade: Evidence from Matched Credit-Export Data

NBER Working Paper No. w16975
Number of pages: 41 Posted: 25 Apr 2011 Last Revised: 21 May 2023
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE), New York University (NYU) - Department of Finance and Columbia University - Columbia Business School, Finance
Downloads 52 (659,117)
Citation 15

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20.
Downloads 231 (226,824)
Citation 2

Do Banks Hedge Using Interest Rate Swaps?

Number of pages: 21 Posted: 19 Apr 2023 Last Revised: 03 May 2023
Lihong McPhail, Philipp Schnabl and Bruce Tuckman
Commodity Futures Trading Commission (CFTC), New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business
Downloads 208 (249,582)

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banks, interest rate risk, interest rate swaps, swaps, derivatives, hedging strategies, DV01

Do Banks Hedge Using Interest Rate Swaps?

NBER Working Paper No. w31166
Number of pages: 22 Posted: 24 Apr 2023 Last Revised: 08 May 2023
Lihong McPhail, Philipp Schnabl and Bruce Tuckman
Commodity Futures Trading Commission (CFTC), New York University (NYU) - Department of Finance and New York University (NYU) - Leonard N. Stern School of Business
Downloads 23 (879,786)
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Implicit Guarantees and Risk Taking: Evidence from Money Market Funds

NYU Working Paper No. 2451/31335
Number of pages: 58 Posted: 26 Jun 2013
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 97 (462,558)

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Implicit Guarantees and Risk Taking: Evidence from Money Market Funds

NBER Working Paper No. w17321
Number of pages: 59 Posted: 29 Aug 2011 Last Revised: 01 May 2022
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 36 (767,849)
Citation 1

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22.

A Pyrrhic Victory? Bank Bailouts and Sovereign Credit Risk

Number of pages: 64 Posted: 17 May 2012 Last Revised: 17 May 2013
Viral V. Archarya, Itamar Drechsler and Philipp Schnabl
New York University (NYU) - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 82 (509,859)

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financial sector bailouts, sovereign credit risk

23.

Dissecting the Effect of Credit Supply on Trade

NYU Working Paper No. 2451/31297
Number of pages: 49 Posted: 26 Jun 2013
New York University (NYU) - Department of Finance, London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE) and Columbia University - Columbia Business School, Finance
Downloads 72 (549,600)

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Informational Rents, Macroeconomic Rents, and Efficient Bailouts

NBER Working Paper No. w16727
Number of pages: 55 Posted: 31 Jan 2011 Last Revised: 17 Mar 2023
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 32 (799,754)

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Informational Rents, Macroeconomic Rents, and Efficient Bailouts

CEPR Discussion Paper No. DP8216
Number of pages: 57 Posted: 31 Jan 2011
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 3 (1,075,159)
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bailouts, crises, debt overhang, recapitalization

25.

Liquidity, Risk Premia, and the Financial Transmission of Monetary Policy

Annual Review of Financial Economics, Vol. 10, pp. 309-328, 2018
Posted: 08 Nov 2018
Itamar Drechsler, Alexi Savov and Philipp Schnabl
Wharton School, Department of Finance, New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance

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