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

20

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10,224

CITATIONS
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Top 2,057

in Total Papers Citations

273

Scholarly Papers (20)

1.
Downloads 1,573 ( 10,473)

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 1,530 (10,729)

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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
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 43 (411,728)

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2.
Downloads 1,535 ( 10,881)
Citation 72

Securitization Without Risk Transfer

AFA 2010 Atlanta Meetings Paper
Number of pages: 51 Posted: 22 Mar 2009 Last Revised: 25 Feb 2012
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 1,374 (12,755)
Citation 72

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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 2010
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 150 (191,719)
Citation 72

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Securitization Without Risk Transfer

CEPR Discussion Paper No. DP8769
Number of pages: 54 Posted: 20 Jan 2012
Viral V. Acharya, Philipp Schnabl and Gustavo Suarez
New York University - Leonard N. Stern School of Business, New York University (NYU) - Department of Finance and Board of Governors of the Federal Reserve System
Downloads 11 (584,877)
Citation 72
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asset-backed commercial paper (ABCP), bank capital, conduits, regulatory arbitrage, shadow banking, structured investment vehicle (SIV)

Banking on Deposits: Maturity Transformation Without Interest Rate Risk

Number of pages: 64 Posted: 22 Mar 2017 Last Revised: 05 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 1,171 (16,337)

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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: 65 Posted: 14 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 11 (584,877)
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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
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banks, deposits, interest rate risk, maturity transformation

4.

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 1,153 (17,034)
Citation 8

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Risk-Taking Incentives, Money Market Funds, Financial Conglomerates

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 1,097 (18,039)

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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: 27 May 2014
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 41 (419,576)

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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 717 (33,273)
Citation 26

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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 184 (160,301)
Citation 26

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

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 629 (39,651)
Citation 28

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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: 05 Aug 2010
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 60 (353,721)
Citation 28

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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
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 570 (45,218)
Citation 38

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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
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 39 (427,741)
Citation 38

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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
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 28 (479,194)
Citation 38

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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
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 9 (597,941)
Citation 38
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credit default swaps, deleveraging, financial crises, forbearance, growth, sovereign debt

9.
Downloads 284 (104,567)
Citation 23

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 184 (160,301)
Citation 23

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Efficient Recapitalization

NBER Working Paper No. w14929
Number of pages: 56 Posted: 03 May 2009 Last Revised: 06 May 2009
Thomas Philippon and Philipp Schnabl
New York University (NYU) - Department of Finance and New York University (NYU) - Department of Finance
Downloads 67 (333,894)
Citation 23

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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 28 (479,194)
Citation 23

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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 (624,711)
Citation 23
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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 and Philipp Schnabl
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 236 (126,250)
Citation 35

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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
Viral V. Acharya and Philipp Schnabl
New York University - Leonard N. Stern School of Business and New York University (NYU) - Department of Finance
Downloads 31 (463,663)
Citation 35

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11.

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
Viral V. Acharya, Itamar Drechsler and Philipp Schnabl
New York University - Leonard N. Stern School of Business, Wharton School, Department of Finance and New York University (NYU) - Department of Finance
Downloads 211 (141,217)
Citation 4

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

The Role of Technology in Mortgage Lending

FRB of New York Staff Report No. 836
Number of pages: 75 Posted: 21 Feb 2018
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of New York
Downloads 156 (185,368)

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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
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of New York
Downloads 28 (479,194)
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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, Swiss National Bank - Financial Stability, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 1 (664,626)
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Financial Intermediation, Fintech, Mortgages

How Monetary Policy Shaped the Housing Boom

Number of pages: 51 Posted: 08 Mar 2019
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 161 (180,459)

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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
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 11 (584,877)
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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 Business School - Finance and Economics
Downloads 80 (301,332)
Citation 15

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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 Business School - Finance and Economics
Downloads 34 (449,443)
Citation 15

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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
London School of Economics & Political Science (LSE), London School of Economics & Political Science (LSE), New York University (NYU) - Department of Finance and Columbia Business School - Finance and Economics
Downloads 14 (565,313)
Citation 15

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15.

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 64 (337,819)
Citation 1

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financial sector bailouts, sovereign credit risk

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 27 (484,728)
Citation 7

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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
Marcin T. Kacperczyk and Philipp Schnabl
Imperial College London - Accounting, Finance, and Macroeconomics and New York University (NYU) - Department of Finance
Downloads 16 (552,454)
Citation 7

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17.

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 Business School - Finance and Economics
Downloads 23 (492,891)
Citation 12

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Informational Rents, Macroeconomic Rents, and Efficient Bailouts

NBER Working Paper No. w16727
Number of pages: 55 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 13 (571,789)
Citation 1

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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 (640,187)
Citation 1
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bailouts, crises, debt overhang, recapitalization

Specialization in Bank Lending: Evidence from Exporting Firms

NBER Working Paper No. w21800
Number of pages: 57 Posted: 14 Dec 2015
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 14 (565,313)

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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)
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Banking, Export Finance, specialization

20.

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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