Kairong Xiao

Columbia University - Columbia Business School

Assistant Professor

3022 Broadway

New York, NY 10027

United States

  • Columbia University - Columbia Business School

SCHOLARLY PAPERS

18

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Top 4,323

in Total Papers Downloads

18,917

TOTAL CITATIONS
Rank 2,525

SSRN RANKINGS

Top 2,525

in Total Papers Citations

315

Scholarly Papers (18)

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1.

Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation

Downloads 2,836 (10,049)
Citation 56

Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation

Number of pages: 90 Posted: 09 Oct 2017 Last Revised: 01 Jun 2020
Yifei Wang, Toni M. Whited, Yufeng Wu and Kairong Xiao
University of Michigan, Department of Finance, University of Michigan, Department of Economics, Ohio State University (OSU) and Columbia University - Columbia Business School
Downloads 2,757 (10,365)
Citation 56

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Monetary policy transmission, banking competition, regulatory constraints

Bank Market Power and Monetary Policy Transmission: Evidence from a Structural Estimation

NBER Working Paper No. w27258
Number of pages: 91 Posted: 02 Jun 2020 Last Revised: 25 Jun 2023
Yifei Wang, Toni M. Whited, Yufeng Wu and Kairong Xiao
University of Michigan, Department of Finance, University of Michigan, Department of Economics, Ohio State University (OSU) and Columbia University - Columbia Business School
Downloads 79 (676,811)

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2.

Will Central Bank Digital Currency Disintermediate Banks?

Number of pages: 58 Posted: 19 May 2022 Last Revised: 13 Jun 2023
Toni M. Whited, Yufeng Wu and Kairong Xiao
University of Michigan, Department of Economics, Ohio State University (OSU) and Columbia University - Columbia Business School
Downloads 2,784 (10,387)
Citation 18

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central bank digital currency, banking competition, maturity mismatch, financial stability

3.

Mutual Fund Liquidity Transformation and Reverse Flight to Liquidity

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper, 2020
Number of pages: 66 Posted: 02 Jul 2020 Last Revised: 01 Apr 2021
Yiming Ma, Kairong Xiao and Yao Zeng
Columbia University - Columbia Business School, Columbia University - Columbia Business School and University of Pennsylvania - The Wharton School
Downloads 2,574 (11,815)
Citation 129

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Mutual fund, liquidity transformation, flight-to-liquidity, COVID-19

4.

Regulatory Costs of Being Public: Evidence from Bunching Estimation

Downloads 1,388 (30,929)
Citation 14

Regulatory Costs of Being Public: Evidence from Bunching Estimation

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 93 Posted: 11 Feb 2021 Last Revised: 22 Dec 2023
Michael Ewens, Kairong Xiao and Ting Xu
Columbia Business School, Columbia University - Columbia Business School and University of Toronto, Rotman School of Management
Downloads 1,353 (31,518)
Citation 2

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costs of being public, bunching estimator, capital market regulation, disclosure, governance

Regulatory Costs of Being Public: Evidence from Bunching Estimation

NBER Working Paper No. w29143
Number of pages: 78 Posted: 16 Aug 2021 Last Revised: 17 Feb 2023
Michael Ewens, Kairong Xiao and Ting Xu
Columbia Business School, Columbia University - Columbia Business School and University of Toronto, Rotman School of Management
Downloads 35 (1,009,194)
Citation 12

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5.

Bank Debt, Mutual Fund Equity, and Swing Pricing in Liquidity Provision

Downloads 1,137 (41,341)
Citation 2

Bank Debt, Mutual Fund Equity, and Swing Pricing in Liquidity Provision

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 74 Posted: 05 Dec 2019 Last Revised: 16 Dec 2022
Yiming Ma, Kairong Xiao and Yao Zeng
Columbia University - Columbia Business School, Columbia University - Columbia Business School and University of Pennsylvania - The Wharton School
Downloads 1,137 (40,838)
Citation 2

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Swing Pricing, Mutual Funds, Liquidity Provision, Flows, Runs

6.

Nonbank Fragility in Credit Markets: Evidence from a Two-Layer Asset Demand System *

Number of pages: 76 Posted: 12 Dec 2022 Last Revised: 03 Apr 2025
Olivier Darmouni, Kerry Siani and Kairong Xiao
Columbia University - Columbia Business School, Finance, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Columbia University - Columbia Business School
Downloads 1,018 (48,503)
Citation 1

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Nonbanks, financial fragility, corporate bond markets, mutual fund flows, illiquidity, demand system asset pricing, unconventional monetary policy JEL codes: G23, G01, G12, E43, E44, E52

7.

Unintended Consequences of Post-Crisis Liquidity Regulation

Number of pages: 60 Posted: 18 Jun 2019 Last Revised: 20 Jan 2023
Suresh M. Sundaresan and Kairong Xiao
Columbia University - Columbia Business School, Finance and Columbia University - Columbia Business School
Downloads 844 (62,884)
Citation 4

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liquidity regulation, regulatory arbitrage, regulatory design

8.

Factions in Nondemocracies: Theory and Evidence from the Chinese Communist Party

Downloads 813 (66,121)
Citation 14

Factions in Nondemocracies: Theory and Evidence from the Chinese Communist Party

Number of pages: 45 Posted: 14 Oct 2016 Last Revised: 19 May 2022
Patrick Francois, Francesco Trebbi and Kairong Xiao
University of British Columbia (UBC) - Department of Economics, University of California, Berkeley - Haas School of Business and Columbia University - Columbia Business School
Downloads 733 (74,643)
Citation 3

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Political Factions, The Chinese Communist Party

Factions in Nondemocracies: Theory and Evidence from the Chinese Communist Party

NBER Working Paper No. w22775
Number of pages: 85 Posted: 31 Oct 2016 Last Revised: 26 Mar 2023
Patrick Francois, Francesco Trebbi and Kairong Xiao
University of British Columbia (UBC) - Department of Economics, University of California, Berkeley - Haas School of Business and Columbia University - Columbia Business School
Downloads 80 (671,720)

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Factions in Nondemocracies: Theory and Evidence from the Chinese Communist Party

CEPR Discussion Paper No. DP15226
Number of pages: 63 Posted: 12 Sep 2020
Patrick Francois, Francesco Trebbi and Kairong Xiao
University of British Columbia (UBC) - Department of Economics, University of California, Berkeley - Haas School of Business and Columbia University - Columbia Business School
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Citation 11
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China, Chinese Communist Party, Factions, political economy, Single Party Regime

9.

Fuzzy Bunching

Number of pages: 50 Posted: 19 Jun 2020 Last Revised: 06 Feb 2023
Adrien Alvero and Kairong Xiao
Columbia University and Columbia University - Columbia Business School
Downloads 808 (66,646)

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bunching estimation, data noise, measurement error, small sample

10.

Monetary Transmission through Shadow Banks

Downloads 768 (71,255)
Citation 24

Monetary Transmission through Shadow Banks

Number of pages: 57 Posted: 21 Apr 2018
Kairong Xiao
Columbia University - Columbia Business School
Downloads 438 (142,356)
Citation 10

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Monetary Policy, Shadow Banks, Deposit Competition

Monetary Transmission through Shadow Banks

Xiao, Kairong. "Monetary transmission through shadow banks." The Review of Financial Studies 33, no. 6 (2020): 2379-2420.
Number of pages: 58 Posted: 01 Apr 2019 Last Revised: 14 Aug 2020
Kairong Xiao
Columbia University - Columbia Business School
Downloads 330 (195,882)
Citation 14

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Monetary policy, shadow banks

11.

The Shadow Cost of Collateral

Number of pages: 102 Posted: 06 Jan 2022 Last Revised: 12 Dec 2023
Guangqian Pan, Zheyao Pan and Kairong Xiao
The University of Sydney, Macquarie University and Columbia University - Columbia Business School
Downloads 767 (71,520)
Citation 2

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Collateral, Secured and Unsecured Debt, Bunching estimation, Small business lending, Government lending program

12.

The Value of Big Data in a Pandemic

Number of pages: 43 Posted: 24 Apr 2020 Last Revised: 12 May 2022
Kairong Xiao
Columbia University - Columbia Business School
Downloads 766 (71,520)
Citation 8

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Big data, informational friction, COVID-19, lockdown

13.

Monetary Policy and Reaching for Income

Downloads 709 (79,129)
Citation 4

Monetary Policy and Reaching for Income

Journal of Finance, Forthcoming
Number of pages: 59 Posted: 16 Aug 2018 Last Revised: 17 Aug 2020
Kent D. Daniel, Lorenzo Garlappi and Kairong Xiao
Columbia University - Columbia Business School, Finance, University of British Columbia (UBC) - Sauder School of Business and Columbia University - Columbia Business School
Downloads 667 (84,311)

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reaching for income, monetary policy

Monetary Policy and Reaching for Income

NBER Working Paper No. w25344
Number of pages: 67 Posted: 11 Dec 2018 Last Revised: 02 Apr 2023
Kent D. Daniel, Lorenzo Garlappi and Kairong Xiao
Columbia University - Columbia Business School, Finance, University of British Columbia (UBC) - Sauder School of Business and Columbia University - Columbia Business School
Downloads 42 (937,281)
Citation 4

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14.

Liquidity Regulation and Banks: Theory and Evidence

Columbia Business School Research Paper Forthcoming
Number of pages: 92 Posted: 30 Jan 2022 Last Revised: 02 Feb 2023
Suresh M. Sundaresan and Kairong Xiao
Columbia University - Columbia Business School, Finance and Columbia University - Columbia Business School
Downloads 692 (81,709)
Citation 14

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liquidity regulation, regulatory design

15.

Watch What They Do, Not What They Say: Estimating Regulatory Costs from Revealed Preferences

Downloads 413 (118,058)

Watch What They Do, Not What They Say: Estimating Regulatory Costs from Revealed Preferences

Number of pages: 85 Posted: 24 Jan 2021 Last Revised: 25 Jan 2022
Adrien Alvero, Sakai Ando and Kairong Xiao
Columbia University, International Monetary Fund (IMF) and Columbia University - Columbia Business School
Downloads 413 (152,537)

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bank regulation, regulatory costs, the Dodd-Frank Act, bunching

16.

What Do $40 Trillion of Portfolio Holdings Say about Monetary Policy Transmission? *

Number of pages: 86 Posted: 06 Dec 2024 Last Revised: 16 May 2025
Chuck Fang and Kairong Xiao
Drexel University and Columbia University - Columbia Business School
Downloads 368 (177,069)

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monetary policy, market clearing, demand system, state dependency

17.

Regulation and Market Liquidity

Downloads 232 (284,230)
Citation 25

Regulation and Market Liquidity

Number of pages: 72 Posted: 07 Nov 2015 Last Revised: 21 Nov 2015
Francesco Trebbi and Kairong Xiao
University of California, Berkeley - Haas School of Business and Columbia University - Columbia Business School
Downloads 177 (365,190)
Citation 2

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Liquidity, Dodd-Frank Act of 2010, Volcker Rule

Regulation and Market Liquidity

NBER Working Paper No. w21739
Number of pages: 73 Posted: 23 Nov 2015 Last Revised: 27 May 2023
Francesco Trebbi and Kairong Xiao
University of California, Berkeley - Haas School of Business and Columbia University - Columbia Business School
Downloads 55 (825,677)
Citation 23

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18.

Why does Monetary Policy Generate Excessive Asset Price Movements? The Role of Inelastic Markets

Posted: 10 Jan 2023 Last Revised: 19 Jan 2023
Kairong Xiao
Columbia University - Columbia Business School

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Inelastic markets, monetary policy, asset prices