Wenhao Li

University of Southern California - Marshall School of Business

Assistant Professor of Finance and Business Economics

701 Exposition Blvd

Los Angeles, CA California 90089

United States

http://www.wenhao-li.com

  • University of Southern California - Marshall School of Business

SCHOLARLY PAPERS

11

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4,280

SSRN CITATIONS

24

CROSSREF CITATIONS

1

Scholarly Papers (11)

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1.

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

Downloads 880 (44,078)
Citation 4

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

Number of pages: 74 Posted: 09 Apr 2020 Last Revised: 25 Oct 2021
Arvind Krishnamurthy and Wenhao Li
Stanford Graduate School of Business and University of Southern California - Marshall School of Business
Downloads 857 (45,023)
Citation 2

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financial crises, intermediation, sentiment, credit spread

Dissecting Mechanisms of Financial Crises: Intermediation and Sentiment

NBER Working Paper No. w27088
Number of pages: 75 Posted: 05 May 2020 Last Revised: 06 Jan 2023
Arvind Krishnamurthy and Wenhao Li
Stanford Graduate School of Business and University of Southern California - Marshall School of Business
Downloads 23 (816,715)
Citation 1

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2.

Public Liquidity and Financial Crises

USC Marshall School of Business Research Paper
Number of pages: 65 Posted: 24 Jun 2018 Last Revised: 17 Nov 2021
Wenhao Li
University of Southern California - Marshall School of Business
Downloads 743 (55,416)

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public liquidity, financial crisis, liquidity premium, banking

3.

The Passthrough of Treasury Supply to Bank Deposit Funding

Columbia Business School Research Paper, USC Marshall School of Business Research Paper
Number of pages: 85 Posted: 09 Jan 2019 Last Revised: 10 Feb 2023
Wenhao Li, Yiming Ma and Yang Zhao
University of Southern California - Marshall School of Business, Columbia University - Columbia Business School and Stanford University, Graduate School of Business
Downloads 654 (65,535)

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safe assets, bank deposits, deposit competition, treasury supply, monetary policy

4.

The Term Structure of Liquidity Premium

USC Marshall School of Business Research Paper
Number of pages: 58 Posted: 07 Nov 2019 Last Revised: 23 Mar 2021
Scott Joslin, Wenhao Li and Yang Song
University of Southern California - Department of Finance and Business Economics, University of Southern California - Marshall School of Business and University of Washington - Michael G. Foster School of Business
Downloads 519 (87,656)

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Liquidity Premium, Term Structure, Monetary Policy

5.

Firm Quality Dynamics and the Slippery Slope of Credit Intervention

USC Marshall School of Business Research Paper, Fisher College of Business Working Paper No. 2020-03-028, Proceedings of Paris December 2021 Finance Meeting EUROFIDAI - ESSEC, Charles A. Dice Working Paper No. 2020-28
Number of pages: 92 Posted: 01 Dec 2020 Last Revised: 18 Jul 2022
Wenhao Li and Ye Li
University of Southern California - Marshall School of Business and University of Washington - Foster School of Business
Downloads 418 (113,451)

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heterogeneous firms, firm distribution, credit intervention, liquidity facility, unconventional monetary policy, collateral, limited commitment, corporate liquidity management, disaster, financial crises, Covid-19 pandemic

6.

Intermediary Balance Sheets and the Treasury Yield Curve

Downloads 409 (116,358)
Citation 1

Intermediary Balance Sheets and the Treasury Yield Curve

USC Marshall School of Business Research Paper
Number of pages: 123 Posted: 07 Jul 2022 Last Revised: 25 May 2023
Wenxin Du, Benjamin Hebert and Wenhao Li
University of Chicago Booth School of Business, Stanford University and University of Southern California - Marshall School of Business
Downloads 311 (156,283)

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negative swap spread, covered interest rate parity deviations, Treasury yield curve

Intermediary Balance Sheets and the Treasury Yield Curve

University of Chicago, Becker Friedman Institute for Economics Working Paper No. 2022-94
Number of pages: 123 Posted: 18 Jul 2022 Last Revised: 25 May 2023
Wenxin Du, Benjamin Hebert and Wenhao Li
University of Chicago Booth School of Business, Stanford University and University of Southern California - Marshall School of Business
Downloads 51 (620,347)
Citation 1

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Intermediary Balance Sheets and the Treasury Yield Curve

FRB of New York Staff Report No. 1023
Number of pages: 123 Posted: 11 Jul 2022 Last Revised: 25 May 2023
Wenxin Du, Benjamin Hebert and Wenhao Li
University of Chicago Booth School of Business, Stanford University and University of Southern California - Marshall School of Business
Downloads 39 (693,551)

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yield curve, balance sheet constraints, CIP deviations

Intermediary Balance Sheets and the Treasury Yield Curve

NBER Working Paper No. w30222
Number of pages: 124 Posted: 11 Jul 2022 Last Revised: 27 May 2023
Wenxin Du, Benjamin Hebert and Wenhao Li
University of Chicago Booth School of Business, Stanford University and University of Southern California - Marshall School of Business
Downloads 8 (958,656)
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7.

The Demand for Money, Near-Money, and Treasury Bonds

Downloads 392 (122,149)
Citation 3

The Demand for Money, Near-Money, and Treasury Bonds

Forthcoming at Review of Financial Studies
Number of pages: 67 Posted: 07 Jul 2021 Last Revised: 28 Aug 2022
Arvind Krishnamurthy and Wenhao Li
Stanford Graduate School of Business and University of Southern California - Marshall School of Business
Downloads 382 (124,739)

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Liquidity Premium; Money; Government Debt; Shadow Banking

The Demand for Money, Near-Money, and Treasury Bonds

NBER Working Paper No. w30051
Number of pages: 67 Posted: 16 May 2022 Last Revised: 24 Apr 2023
Arvind Krishnamurthy and Wenhao Li
Stanford Graduate School of Business and University of Southern California - Marshall School of Business
Downloads 10 (939,192)
Citation 2
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8.

Intermediary Funding Cost and Short-Term Risk Premia

Number of pages: 46 Posted: 29 May 2018 Last Revised: 14 Nov 2018
Wenhao Li and Jonathan Wallen
University of Southern California - Marshall School of Business and Stanford University, Graduate School of Business
Downloads 138 (332,816)

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intermediary asset pricing; risk premia; idiosyncratic risks; price reversal

9.

Appendix To 'Public Liquidity and Financial Crises'

Number of pages: 30 Posted: 27 Mar 2019 Last Revised: 10 Jul 2020
Wenhao Li
University of Southern California - Marshall School of Business
Downloads 71 (517,244)
Citation 1

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10.

Deep Learning for Solving and Estimating Dynamic Macro-Finance Models

Number of pages: 30 Posted: 09 May 2023
Benjamin Fan, Edward Qiao, Anran Jiao, Zhouzhou Gu, Wenhao Li and Lu Lu
Massachusetts Institute of Technology (MIT) - Department of Mathematics, Massachusetts Institute of Technology (MIT) - Department of Mathematics, University of Pennsylvania, Princeton University, University of Southern California - Marshall School of Business and University of Pennsylvania
Downloads 56 (582,914)

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Dynamic macro-finance models, Industrial dynamics of firms, Macroeconomic models with financial frictions, Partial differential equations, Deep learning, Parameter estimation

11.

Liquidity Premium and the Substitution Between Money and Treasuries

USC Marshall School of Business Research Paper
Posted: 11 Sep 2018 Last Revised: 03 Jul 2021
Wenhao Li
University of Southern California - Marshall School of Business

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liquidity premium; substitution; Treasury supply; money; debt valuation

Other Papers (1)

Total Downloads: 581
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1.

Brokers or Dealers? Trading Intermediation and Market Liquidity

Number of pages: 52 Posted: 17 Apr 2016 Last Revised: 28 Oct 2022
Jiacui Li and Wenhao Li
David Eccles School of Business, University of Utah and University of Southern California - Marshall School of Business
Downloads 581 (61,193)

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Intermediaries, Agency Trading, Principal Trading, Price Benchmark, Market Transparency