Harjoat Singh Bhamra

Imperial College Business School

Associate Professor

Tanaka Building

Exhibition Rd

London, SW7 2AZ

United Kingdom

http://www.harjoatbhamra.com

  • Imperial College Business School

SCHOLARLY PAPERS

19

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8,928

TOTAL CITATIONS
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Top 2,469

in Total Papers Citations

268

Scholarly Papers (19)

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1.

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

Downloads 1,838 (19,697)
Citation 73

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

The Review of Financial Studies, Forthcoming
Number of pages: 56 Posted: 30 Sep 2007 Last Revised: 03 Mar 2009
Harjoat Singh Bhamra, Lars-Alexander Kuehn and Ilya A. Strebulaev
Imperial College Business School, Carnegie Mellon University - David A. Tepper School of Business and Stanford University - Graduate School of Business
Downloads 1,827 (19,522)
Citation 23

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Equity premium, corporate bond credit spread, predictability, macroeconomic conditions, jumps, capital structure, default

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

CEPR Discussion Paper No. DP12827
Number of pages: 78 Posted: 05 Apr 2018
Harjoat Singh Bhamra, Lars-Alexander Kuehn and Ilya A. Strebulaev
Imperial College Business School, Carnegie Mellon University - David A. Tepper School of Business and Stanford University - Graduate School of Business
Downloads 11 (1,261,260)
Citation 50
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Capital Structure, corporate bond credit spread, default, Equity premium, jumps, macroeconomic conditions, predictability

The Levered Equity Risk Premium and Credit Spreads: A Unified Framework

The Review of Financial Studies, Vol. 23, Issue 2, pp. 645-703, 2009
Posted: 01 Feb 2010
Harjoat Singh Bhamra, Lars-Alexander Kuehn and Ilya A. Strebulaev
Imperial College Business School, Carnegie Mellon University - David A. Tepper School of Business and Stanford University - Graduate School of Business

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2.

The Aggregate Dynamics of Capital Structure and Macroeconomic Risk

Number of pages: 58 Posted: 10 Sep 2008 Last Revised: 06 Nov 2009
Harjoat Singh Bhamra, Lars-Alexander Kuehn and Ilya A. Strebulaev
Imperial College Business School, Carnegie Mellon University - David A. Tepper School of Business and Stanford University - Graduate School of Business
Downloads 1,284 (33,758)
Citation 71

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Dynamic capital structure, leverage, aggregate dynamics, cross-sectional behavior, default probability, financial constraints, macroeconomic risk, risk aversion, elasticity of intertemporal substitution

3.

Asset Prices with Heterogeneity in Preferences and Beliefs

Downloads 762 (70,003)
Citation 76

Asset Prices with Heterogeneity in Preferences and Beliefs

AFA 2010 Atlanta Meetings Paper
Number of pages: 71 Posted: 19 Mar 2009 Last Revised: 08 Jan 2015
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 741 (71,525)
Citation 38

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heterogeneity, general equilibrium, stationarity, equity risk premium, volatility

Asset Prices with Heterogeneity in Preferences and Beliefs

CEPR Discussion Paper No. DP9459
Number of pages: 78 Posted: 08 May 2013
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 21 (1,123,907)
Citation 38
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Asset Pricing, General Equilibrium

4.

Does Household Finance Matter? Small Financial Errors with Large Social Costs

Downloads 672 (82,296)
Citation 14

Does Household Finance Matter? Small Financial Errors with Large Social Costs

Number of pages: 108 Posted: 27 Jan 2016 Last Revised: 01 Oct 2018
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 671 (81,307)
Citation 4

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Portfolio choice, underdiversification bias, growth, social welfare

Does Household Finance Matter? Small Financial Errors with Large Social Costs

CEPR Discussion Paper No. DP12414
Number of pages: 63 Posted: 06 Nov 2017
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 1 (1,357,805)
Citation 10
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familiarity bias, growth, Portfolio choice, social welfare, underdiversification

5.

Monetary Policy and Corporate Default

Journal of Monetary Economics, 58 (5), 480-494, July 2011
Number of pages: 39 Posted: 02 Feb 2011 Last Revised: 07 May 2013
Harjoat Singh Bhamra, Adlai J. Fisher and Lars-Alexander Kuehn
Imperial College Business School, University of British Columbia (UBC) - Sauder School of Business and Carnegie Mellon University - David A. Tepper School of Business
Downloads 515 (115,133)
Citation 4

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Monetary policy, interest rate rule, corporate default, capital structure, leverage, credit spreads

6.

High Inflation: Low Default Risk and Low Equity Valuations

Downloads 487 (123,165)
Citation 1

High Inflation: Low Default Risk and Low Equity Valuations

Chicago Booth Research Paper No. 18-12
Number of pages: 130 Posted: 11 Dec 2018 Last Revised: 08 Sep 2021
Harjoat Singh Bhamra, Christian Dorion, Alexandre Jeanneret and Michael Weber
Imperial College Business School, HEC Montreal, UNSW Business School and University of Chicago - Finance
Downloads 436 (139,081)

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high inflation, default risk, equity, leverage, credit spreads

Low Inflation: High Default Risk and High Equity Valuations

NBER Working Paper No. w25317
Number of pages: 78 Posted: 03 Dec 2018 Last Revised: 06 Mar 2022
Harjoat Singh Bhamra, Christian Dorion, Alexandre Jeanneret and Michael Weber
Imperial College Business School, HEC Montreal, UNSW Business School and University of Chicago - Finance
Downloads 51 (820,301)
Citation 1

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7.

The Effect of Introducing a Non-Redundant Derivative on the Volatility of Stock-Market Returns

Downloads 446 (136,941)
Citation 6

The Effect of Introducing a Non-Redundant Derivative on the Volatility of Stock-Market Returns

Sauder School of Business Working Paper, AFA 2007 Chicago Meetings Paper
Number of pages: 40 Posted: 15 Mar 2006
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 432 (140,651)
Citation 6

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Excess volatility, general equilibrium, heterogeneous agents, prudence

The Effect of Introducing a Non-Redundant Derivative on the Volatility of Stock-Market Returns

CEPR Discussion Paper No. 5726
Number of pages: 30 Posted: 16 Aug 2006
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 14 (1,220,239)
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General equilibrium, options, volatility, risk-sharing

8.

Non-Redundant Derivatives in a Dynamic General Equilibrium Economy

London Business School Working Paper; EFA 2002 Berlin Meetings Presented Paper, Sauder School of Business Working Paper
Number of pages: 53 Posted: 20 Mar 2002
Harjoat Singh Bhamra, Leonid Kogan and Raman Uppal
Imperial College Business School, Massachusetts Institute of Technology (MIT) - Sloan School of Management and EDHEC Business School
Downloads 415 (148,911)

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Asset pricing, derivative valuation, portfolio choice, incomplete markets

9.

Stock Market Liberalization and the Cost of Capital in Emerging Markets

Number of pages: 49 Posted: 19 Mar 2009
Harjoat Singh Bhamra
Imperial College Business School
Downloads 404 (153,522)
Citation 5

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international finance, stock market integration, continuous time, general equilibrium, incomplete markets

10.

The Role of Risk Aversion and Intertemporal Substitution in Dynamic Consumption-Portfolio Choice with Recursive Utility

Downloads 382 (163,593)
Citation 2

The Role of Risk Aversion and Intertemporal Substitution in Dynamic Consumption-Portfolio Choice with Recursive Utility

EFA 2003 Annual Conference Paper No. 267, Sauder School of Business Working Paper
Number of pages: 28 Posted: 21 Jul 2003
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 356 (175,100)

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Intertemporal optimization and decision making

The Role of Risk Aversion and Intertemporal Substitution in Dynamic Consumption-Portfolio Choice with Recursive Utility

CEPR Discussion Paper No. 5020
Number of pages: 32 Posted: 24 Aug 2005
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 26 (1,060,272)
Citation 2
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Intertemporal optimization, decision making

11.

Stochastic Idiosyncratic Cash Flow Risk and Real Options: Implications for Stock Returns

Journal of Economic Theory, Forthcoming, 2015 Society for Economic Dynamics in Warsaw, 2015 American Finance Association Annual Meetings in Boston, 2014 European Finance Association Annual Meetings in Lugano , 2013 Adam Smith Asset Pricing Conference in Oxford , 2013 China International Finance Conference in Shanghai , 2013 Northern Finance Association Annual Meetings in Quebec , 2013 Tel Aviv Finance Conference
Number of pages: 43 Posted: 12 Jan 2013 Last Revised: 28 Nov 2016
Harjoat Singh Bhamra and Kyung Hwan Shim
Imperial College Business School and University of New South Wales (UNSW)
Downloads 369 (169,958)
Citation 5

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Idiosyncratic return volatility, cross-section of stock returns, asset pricing, real options, growth options, stochastic volatility, regime switching, mixed jump-diffusion processes

12.

Small Growth and Distress Returns: Two Sides of the Same Coin?

Downloads 304 (209,575)

Small Growth and Distress Returns: Two Sides of the Same Coin?

2015 World Congress of the Econometric Society, 1st Place 2015 CQAsia Academic Competition, Hong Kong, 2014 SAFE Asset Pricing Workshop, Best Paper on Valuation, 2014 26th Annual Meetings Northern Finance Association, Ottawa, 2014 International Conference on Asia-Pacific Financial Markets
Number of pages: 53 Posted: 21 Nov 2013 Last Revised: 23 Feb 2016
Harjoat Singh Bhamra and Kyung Hwan Shim
Imperial College Business School and University of New South Wales (UNSW)
Downloads 173 (361,046)

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Distress, size, book-to-market, small, growth, glamor, stocks, failure risk, default risk, anomalies, cross section of stock returns, asset pricing, real options, growth options, mixed jump-diffusion process

Small Growth and Distress Returns: Two Sides of the Same Coin?

2015 World Congress of the Econometric Society, 1st Place, 2015 CQAsia Academic Competition, Hong Kong, 2014 SAFE Asset Pricing Workshop, Best Paper on Valuation, 2014 26th Annual Meetings Northern Finance Association, Ottawa, 2014 International Conference on Asia-Pacific Financial Markets
Number of pages: 53 Posted: 17 Jun 2013 Last Revised: 23 Feb 2016
Harjoat Singh Bhamra and Kyung Hwan Shim
Imperial College Business School and University of New South Wales (UNSW)
Downloads 131 (456,534)

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Distress, size, book-to-market, small, growth, glamor, stocks, failure risk, default risk, anomalies, cross section of stock returns, asset pricing, real options, growth options, mixed jump-diffusion process

13.

Do the Effects of Individual Behavioral Biases Cancel Out?

Downloads 285 (224,157)
Citation 4

Do the Effects of Individual Behavioral Biases Cancel Out?

Number of pages: 46 Posted: 04 Jan 2017 Last Revised: 06 Jul 2021
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 281 (225,885)
Citation 3

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Behavioral finance, money market, aggregate growth, stochastic discount factor.

Do Individual Behavioral Biases Affect Financial Markets and the Macroeconomy?

CEPR Discussion Paper No. DP12415
Number of pages: 59 Posted: 06 Nov 2017
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 2 (1,348,985)
Citation 1
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aggregate growth, ambiguity aversion, behavioral finance, investment, underdiversification

Do the Effects of Individual Behavioral Biases Cancel Out?

CEPR Discussion Paper No. DP16335
Number of pages: 49 Posted: 14 Jul 2021
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School
Downloads 2 (1,348,985)
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14.

Psychological Distance and Subjective Beliefs

Number of pages: 75 Posted: 22 Nov 2022
Harjoat Singh Bhamra, Raman Uppal and Johan Walden
Imperial College Business School, EDHEC Business School and University of California, Berkeley - Finance Group
Downloads 247 (259,210)

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Belief heterogeneity, behavioral finance, inequality, Universal Law of Generalization, construal level theory

15.

Leverage Dynamics and Learning about Economic Crises

Number of pages: 89 Posted: 24 Jul 2024
Artur Anschukov, Harjoat Singh Bhamra and Lars-Alexander Kuehn
Imperial College Business School, Imperial College Business School and Carnegie Mellon University - David A. Tepper School of Business
Downloads 167 (372,919)

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learning, economic crises, Epstein-Zin, financial leverage, asset prices, credit risk, credit derivatives, CDX, default, structural estimation

16.

The Real Effects of Market Inefficiency: Aggregate Versus Cross-Sectional Mispricing

Number of pages: 34 Posted: 24 Apr 2018
Harjoat Singh Bhamra, Huafeng (Jason) Chen and Lorenzo Garlappi
Imperial College Business School, Fudan University - Fanhai International School of Finance (FISF) and University of British Columbia (UBC) - Sauder School of Business
Downloads 126 (469,137)

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Market Efficiency, Equilibrium Asset Pricing

17.

Low Inflation: High Default Risk AND High Equity Valuations

CESifo Working Paper No. 7391
Number of pages: 79 Posted: 21 Feb 2019
Harjoat Singh Bhamra, Christian Dorion, Alexandre Jeanneret and Michael Weber
Imperial College Business School, HEC Montreal, UNSW Business School and University of Chicago - Finance
Downloads 113 (509,780)
Citation 1

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low inflation, default risk, equity, leverage, credit spreads

18.

A Dynamic Equilibrium Model of Imperfectly Integrated Financial Markets

Journal of Economic Theory, Vol. 154, 2014
Number of pages: 71 Posted: 09 Jan 2015
Harjoat Singh Bhamra, Nicolas Coeurdacier and Stéphane Guibaud
Imperial College Business School, London Business School and SciencesPo - Department of Economics
Downloads 112 (513,155)
Citation 6

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Two Trees, Asset Pricing with Heterogeneous Investors, Home Bias in Portfolios, International Stock Return Correlations, Financial Integration

19.

The Effect of Introducing a Non-Redundant Derivative on the Volatility of Stock-Market Returns When Agents Differ in Risk Aversion

The Review of Financial Studies, Vol. 22, Issue 6, pp. 2303-2330, 2009
Posted: 01 Jun 2009
Harjoat Singh Bhamra and Raman Uppal
Imperial College Business School and EDHEC Business School

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G12, D51, D52, D91