Joao F. Gomes

The Wharton School

Howard Butcher III Professor of Finance

2329 SH-DH

3620 Locust Walk

Philadelphia, PA 19104

United States

http://fnce.wharton.upenn.edu/profile/gomesj/

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    • Tel: 215-898-3666
    • Fax: 215-898-6200
SCHOLARLY PAPERS

19

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7,442

CITATIONS
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590

Scholarly Papers (19)

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1.

Equilibrium Credit Spreads and the Macroeconomy

Downloads 989 ( 21,399)
Citation 12

Equilibrium Credit Spreads and the Macroeconomy

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 18 Mar 2009 Last Revised: 15 Jun 2011
Joao F. Gomes and Lukas Schmid
The Wharton School and Duke University - The Fuqua School of Business
Downloads 533 (49,242)
Citation 12

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Credit Spreads, Capital Structure, Equity Premium, Predictability, General Equilibrium

Equilibrium Credit Spreads and the Macroeconomy

The Wharton School Research Paper No. 42
Number of pages: 46 Posted: 06 Jun 2012
Joao F. Gomes and Lukas Schmid
The Wharton School and Duke University - The Fuqua School of Business
Downloads 243 (122,423)
Citation 12

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Equilibrium Credit Spreads and the Macroeconomy

Number of pages: 33 Posted: 18 Feb 2009
Joao F. Gomes and Lukas Schmid
The Wharton School and Duke University - The Fuqua School of Business
Downloads 213 (139,540)
Citation 12

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Credit Spreads, Capital Structure, Equity Premium, Preictability, General Equilibrium

2.

Equilibrium Cross-Section of Returns

Downloads 751 ( 31,671)
Citation 178

Equilibrium Cross-Section of Returns

U of Pennsylvania, Wharton School Working Paper, Journal of Political Economy, Vol. 111, No. 4, 2003
Number of pages: 71 Posted: 13 Apr 2001 Last Revised: 16 Sep 2009
Joao F. Gomes, Leonid Kogan and Lu Zhang, 张橹
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Ohio State University - Fisher College of Business
Downloads 709 (33,693)
Citation 178

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General equilibrium, the cross-section of returns, beta, size, book-to-market ratio, firm heterogeneity, business

Equilibrium Cross-Section of Returns

CEPR Discussion Paper No. 3482
Number of pages: 61 Posted: 14 Sep 2002
Joao F. Gomes, Leonid Kogan and Lu Zhang, 张橹
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Ohio State University - Fisher College of Business
Downloads 42 (415,648)
Citation 178
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Production based asset pricing, beta, size and book-to-market factors, CAPM, business cycle properties of stock returns

Equilibrium Cross-Section of Returns

MIT Sloan Working Paper No. 4265-02
Posted: 22 Oct 2002
Leonid Kogan, Joao F. Gomes and Lu Zhang, 张橹
Massachusetts Institute of Technology (MIT) - Sloan School of Management, The Wharton School and Ohio State University - Fisher College of Business

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Asset Pricing, Stock Returns, Book-to-market, Size, Equilibrium, Cross-section, Production, Investment, Business Cycle, Aggregation, Heterogeneity

3.

Durability of Output and Expected Stock Returns

Downloads 707 ( 34,319)
Citation 33

Durability of Output and Expected Stock Returns

Journal of Political Economy, Vol. 117, No. 5, 2009, AFA 2008 New Orleans Meetings Paper
Number of pages: 63 Posted: 20 Mar 2007 Last Revised: 01 Nov 2009
Joao F. Gomes, Leonid Kogan and Motohiro Yogo
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Princeton University - Department of Economics
Downloads 649 (37,931)
Citation 33

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Cash flow, Durable goods, Factor-mimicking portfolio, Input-output accounts, Stock returns

Durability of Output and Expected Stock Returns

NBER Working Paper No. w12986
Number of pages: 65 Posted: 23 Mar 2007 Last Revised: 27 Jun 2010
Joao F. Gomes, Leonid Kogan and Motohiro Yogo
The Wharton School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Princeton University - Department of Economics
Downloads 58 (359,805)
Citation 33

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4.

Investment without Q

AFA 2013 San Diego Meetings Paper
Number of pages: 32 Posted: 20 Mar 2012 Last Revised: 10 May 2016
Vito Gala and Joao F. Gomes
The Wharton School, University of Pennsylvania and The Wharton School
Downloads 688 (35,669)
Citation 2

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Corporate Investment, Firm Decisions, Indirect Inference

5.

Optimal Diversification

Downloads 651 ( 38,343)
Citation 11

Optimal Diversification

AFA 2003 Washington, DC Meetings
Number of pages: 31 Posted: 30 Nov 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 625 (39,933)
Citation 11

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Optimal Diversification

CEPR Discussion Paper No. 3461
Number of pages: 33 Posted: 04 Sep 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 26 (490,486)
Citation 11
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Diversification discount, size, corporate strategy, total factor productivity, diversification

6.

Cyclical Dispersion in Expected Defaults

Downloads 577 ( 45,027)

Cyclical Dispersion in Expected Defaults

Number of pages: 61 Posted: 10 Apr 2017 Last Revised: 17 Mar 2018
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, University of Pennsylvania, The Wharton School and University of Pennsylvania - Finance Department
Downloads 565 (45,678)

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Expected Default, Bond Issuance, Business Cycles, Disaster Risk

Cyclical Dispersion in Expected Defaults

NBER Working Paper No. w23704
Number of pages: 51 Posted: 21 Aug 2017
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, University of Pennsylvania, The Wharton School and University of Pennsylvania - Finance Department
Downloads 12 (578,534)

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7.

Asset Pricing Implications of Firms' Financing Constraints

Downloads 491 ( 55,270)
Citation 47

Asset Pricing Implications of Firms' Financing Constraints

Simon Business School Working Paper No. 03-21; AFA 2003 Washington, DC Meetings; Twelfth Annual Utah Winter Finance Conference
Number of pages: 58 Posted: 17 Oct 2002
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 318 (91,838)
Citation 47

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Asset Pricing Implications of Firms' Financing Constraints

Review of Financial Studies, August 2005
Number of pages: 43 Posted: 06 Dec 2005
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 123 (224,648)
Citation 47

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Financing constraints, production-based asset pricing, structural estimation, cyclicality, the cross-section of returns

Asset Pricing Implications of Firms' Financing Constraints

NBER Working Paper No. w9365
Number of pages: 58 Posted: 06 Dec 2002 Last Revised: 30 Oct 2010
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 25 (496,449)
Citation 47

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Asset Pricing Implications of Firms' Financing Constraints

CEPR Discussion Paper No. 3495
Number of pages: 46 Posted: 20 Sep 2002
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 25 (496,449)
Citation 47
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Production based asset pricing, financing constraints, financing premium

Asset Pricing Implications of Firms' Financing Constraints

The Review of Financial Studies, Vol. 19, Issue 4, pp. 1321-1356, 2006
Posted: 29 Feb 2008
Joao F. Gomes, Amir Yaron and Lu Zhang
The Wharton School, University of Pennsylvania -- Wharton School of Business and University of Rochester

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8.

Levered Returns

Number of pages: 45 Posted: 02 Mar 2007
Joao F. Gomes and Lukas Schmid
The Wharton School and Duke University - The Fuqua School of Business
Downloads 385 (74,310)
Citation 38

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Cross-section of Returns, Growth Options, Financing, Leverage, Capital Structure

9.

Foreseen Risks

Downloads 377 ( 76,050)

Foreseen Risks

Number of pages: 65 Posted: 12 Jan 2018 Last Revised: 08 May 2019
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, University of Pennsylvania, The Wharton School and University of Pennsylvania - Finance Department
Downloads 368 (77,606)

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Credit Bubbles, Financial intermediaries, Financial Crises, Risk Shifting

Foreseen Risks

NBER Working Paper No. w25277
Number of pages: 58 Posted: 19 Nov 2018
Joao F. Gomes, Marco Grotteria and Jessica A. Wachter
The Wharton School, University of Pennsylvania, The Wharton School and University of Pennsylvania - Finance Department
Downloads 9 (598,225)
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10.

Understanding the Behavior of Distressed Stocks

Number of pages: 54 Posted: 13 Jun 2017 Last Revised: 23 Feb 2019
Yasser Boualam, Joao F. Gomes and Colin Ward
University of North Carolina (UNC) at Chapel Hill - Kenan-Flagler Business School, The Wharton School and University of Minnesota - Carlson School of Management
Downloads 350 (82,978)
Citation 1

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Distress Anomaly, Asset Pricing, Endogenous Default, Nonlinear Estimation

11.

Financing Investment

American Economic Review, Vol. 91, No. 5, 2001
Number of pages: 69 Posted: 27 Jun 2011
Joao F. Gomes
The Wharton School
Downloads 347 (83,822)
Citation 181

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investment, financing constraints, cash flow, Q theory, firm distribution

12.

Investment without Q

The Wharton School Research Paper No. 41
Number of pages: 31 Posted: 24 Jul 2013 Last Revised: 10 May 2016
Vito Gala and Joao F. Gomes
The Wharton School, University of Pennsylvania and The Wharton School
Downloads 303 (97,455)
Citation 1

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Corporate Investment, Firm Decisions, Indirect Inference

13.

Asset Prices and Business Cycles with Costly External Finance

Downloads 263 (113,313)
Citation 21

Asset Prices and Business Cycles with Costly External Finance

Simon School of Business Working Paper No. FR 02-18
Number of pages: 34 Posted: 28 Dec 2002
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 210 (141,514)
Citation 21

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Costly External Finance, Business Cycles, Default Premium

Asset Prices and Business Cycles with Costly External Finance

NBER Working Paper No. w9364
Number of pages: 34 Posted: 06 Dec 2002 Last Revised: 30 Oct 2010
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 32 (458,643)
Citation 21

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Asset Prices and Business Cycles with Costly External Finance

CEPR Discussion Paper No. 3927
Number of pages: 36 Posted: 06 Aug 2003
Joao F. Gomes, Amir Yaron and Lu Zhang, 张橹
The Wharton School, University of Pennsylvania -- Wharton School of Business and Ohio State University - Fisher College of Business
Downloads 21 (520,956)
Citation 21
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Financial accelerator, business cycles, asset prices

14.

Sticky Leverage

The Wharton School Research Paper No. 52
Number of pages: 44 Posted: 29 May 2013 Last Revised: 11 May 2016
Joao F. Gomes, Urban J. Jermann and Lukas Schmid
The Wharton School, University of Pennsylvania - Finance Department and Duke University - The Fuqua School of Business
Downloads 239 (124,984)

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Debt deflation, debt overhang, monetary non-neutrality

15.

Learning-by-Doing as a Propagation Mechanism

Downloads 128 (217,139)
Citation 29

Learning-by-Doing as a Propagation Mechanism

PIER Working Paper No. 01-023
Number of pages: 46 Posted: 27 Jul 2001
Yongsung Chang, Joao F. Gomes and Frank Schorfheide
University of Rochester - Department of Economics, The Wharton School and University of Pennsylvania - Department of Economics
Downloads 104 (254,127)
Citation 29

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Business-Cycle Fluctuations, Econometric Model Evaluation, Learning-by-Doing, Propagation of Shocks

Learning-by-Doing as a Propagation Mechanism

CEPR Discussion Paper No. 3599
Number of pages: 60 Posted: 22 Nov 2002
Yongsung Chang, Joao F. Gomes and Frank Schorfheide
University of Rochester - Department of Economics, The Wharton School and University of Pennsylvania - Department of Economics
Downloads 24 (502,464)
Citation 29
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Learning by doing, business cycles, propagation, labour supply

16.

Equilibrium Asset Pricing with Leverage and Default

The Wharton School Research Paper No. 92
Number of pages: 57 Posted: 10 May 2016
Joao F. Gomes
The Wharton School
Downloads 87 (283,627)

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17.

Equilibrium Unemployment

NBER Working Paper No. w5922
Number of pages: 44 Posted: 18 Aug 2000 Last Revised: 05 Oct 2010
Joao F. Gomes, Jeremy Greenwood and Sergio T. Rebelo
The Wharton School, University of Pennsylvania - Department of Economics and Northwestern University - Kellogg School of Management
Downloads 47 (389,859)
Citation 29

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18.

Leverage Risk and Investment: The Case of Gold Clauses in the 1930s

Number of pages: 43 Posted: 19 Mar 2019
Joao F. Gomes, Mete Kilic and Sebastien Plante
The Wharton School, University of Southern California - Marshall School of Business and University of Wisconsin - Madison
Downloads 41 (411,236)

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Great Depression, investment, debt overhang, indexed bonds, leverage risk

19.

The Performance of Optimally Diversified Firms: Reconciling Theory and Evidence

CEPR Discussion Paper No. 3546
Number of pages: 32 Posted: 23 Oct 2002
Joao F. Gomes and Dmitry Livdan
The Wharton School and University of California, Berkeley
Downloads 21 (504,200)
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firm diversification, Tobin's Q, diversification discount, total factor productivity