Dan Li

Federal Reserve Board

Economist

20th and C Streets, NW

Mail Stop 89

Washington, DC 20551

United States

SCHOLARLY PAPERS

15

DOWNLOADS
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Top 8,033

in Total Papers Downloads

5,539

CITATIONS
Rank 4,982

SSRN RANKINGS

Top 4,982

in Total Papers Citations

110

Scholarly Papers (15)

1.
Downloads 1,352 ( 13,466)
Citation 49

Dealer Networks

Journal of Finance, Forthcoming, Swiss Finance Institute Research Paper No. 14-50
Number of pages: 79 Posted: 16 Mar 2012 Last Revised: 27 Mar 2018
Dan Li and Norman Schürhoff
Federal Reserve Board and University of Lausanne
Downloads 1,351 (13,217)
Citation 40

Abstract:

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Municipal bonds, over-the-counter market, financial network, dealer centrality, trading cost, immediacy, liquidity

Dealer Networks

CEPR Discussion Paper No. DP10237
Number of pages: 68 Posted: 10 Nov 2014
Dan Li and Norman Schürhoff
Federal Reserve Board and University of Lausanne
Downloads 1 (675,099)
Citation 24
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decentralization, immediacy, liquidity, market quality, municipal bonds, network analysis, over-the-counter financial market, trading cost, transparency

Institutional Herding and Its Price Impact: Evidence from the Corporate Bond Market

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 72 Posted: 22 Nov 2015 Last Revised: 25 Dec 2017
Fang Cai, Song Han, Dan Li and Yi Li
Federal Reserve Board, Federal Reserve Board - Division of Research and Statistics, Federal Reserve Board and Federal Reserve Board
Downloads 457 (60,487)
Citation 2

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Corporate Bond; Herding; Institutional Investors; Return Reversal

Institutional Herding in the Corporate Bond Market

FRB International Finance Discussion Paper No. 1071
Number of pages: 47 Posted: 08 Feb 2013
Fang Cai, Song Han and Dan Li
Federal Reserve Board, Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board
Downloads 180 (165,071)
Citation 2

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corporate bond, herding, liquidity, institutional investors

3.

Price Discovery in Illiquid Markets: Do Financial Asset Prices Rise Faster Than They Fall?

Journal of Finance, Forthcoming
Number of pages: 56 Posted: 17 Mar 2008 Last Revised: 02 Dec 2009
Carnegie Mellon University - David A. Tepper School of Business, Federal Reserve Board and University of Lausanne
Downloads 742 (32,502)
Citation 29

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Municipal Bond, Price Discovery, Market Microstructure, Liquidity, Asymmetric Adjustment

4.

Which Skills Matter in the Market for CEOs? Evidence from Pay for CEO Credentials

Number of pages: 63 Posted: 30 Oct 2010 Last Revised: 02 Apr 2015
Board of Governors of the Federal Reserve System, Federal Reserve Board and Washington University in Saint Louis - Olin Business School
Downloads 601 (43,199)
Citation 32

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CEO pay, CEO labor market, CEO turnover

5.

Fire-Sale Spillovers in Debt Markets

Fourth Annual Conference on Financial Market Regulation
Number of pages: 60 Posted: 21 Dec 2016 Last Revised: 11 Jan 2017
Board of Governors of the Federal Reserve System, University of Chicago - Department of Economics, Federal Reserve Board and Board of Governors of the Federal Reserve System
Downloads 503 (54,191)
Citation 2

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asset management, fixed-income markets, fire-sales, identification of spillover effects

6.

Dynamic Liquidity Management by Corporate Bond Mutual Funds

Number of pages: 42 Posted: 08 May 2016 Last Revised: 30 Oct 2017
Hao Jiang, Dan Li and Ashley Wang
Michigan State University, Federal Reserve Board and Federal Reserve Board
Downloads 431 (65,632)
Citation 8

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Liquidity, Mutual funds, Asset Managers, Corporate Bond Funds, Run risks

Liquidity Crisis, Runs, and Security Design - Lessons from the Collapse of the Auction Rate Securities Market

Number of pages: 53 Posted: 14 Jan 2009 Last Revised: 20 Mar 2009
Song Han and Dan Li
Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board
Downloads 199 (150,321)
Citation 1

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Auction rate securities, liquidity crisis, uniform-price auctions, underpricing, security design, market microstructure, municipal bond pricing

Liquidity Crisis, Runs, and Security Design -- Lessons from the Collapse of the Auction Rate Securities Market

Number of pages: 53 Posted: 23 Mar 2009
Song Han and Dan Li
Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board
Downloads 124 (225,397)
Citation 1

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Auction rate securities, liquidity crisis, uniform-price auctions, underpricing, security design, market microstructure, municipal bond pricing

8.

Liquidity Crisis, Runs, and Security Design: Lessons from the Collapse of the Auction Rate Municipal Bond Market

Number of pages: 58 Posted: 10 Jan 2009 Last Revised: 25 Apr 2013
Song Han and Dan Li
Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board
Downloads 237 (127,332)

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Auction, auction rate securities, municipal bond pricing, liquidity crisis

9.

Rounding as Discrimination - Price Clustering in the OTC Tax-Exempt Bond Market

AFA 2008 New Orleans Meetings Paper
Number of pages: 45 Posted: 17 Mar 2007 Last Revised: 23 Dec 2007
Dan Li
Federal Reserve Board
Downloads 215 (140,017)
Citation 1

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Price Clustering, Yield Clustering, Markup Clustering, Dealer's Market Power, Bargaining, Price Resolution, Over-The-Counter Market, Municipal Bond

10.
Downloads 121 (230,122)

Municipal Bond Markets

Swiss Finance Institute Research Paper No. 18-69
Number of pages: 41 Posted: 31 Oct 2018 Last Revised: 12 Nov 2018
IE Business School, IE University, Carnegie Mellon University - David A. Tepper School of Business, Federal Reserve Board and University of Lausanne
Downloads 121 (231,120)

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municipal bonds, muni-bond puzzle, over-the-counter markets, trading cost, centrality premium, electroni cation, green bonds

Municipal Bond Markets

CEPR Discussion Paper No. DP13301
Number of pages: 42 Posted: 12 Nov 2018
IE Business School, IE University, Carnegie Mellon University - David A. Tepper School of Business, Federal Reserve Board and University of Lausanne
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centrality premium, electronification, green bonds, muni-bond puzzle, Municipal Bonds, Over-the-counter markets, trading cost

11.
Downloads 113 (240,439)
Citation 26

Relationship Trading in OTC Markets

Swiss Finance Institute Research Paper No. 17-30
Number of pages: 46 Posted: 04 Dec 2017
University of California, Berkeley - Haas School of Business, Federal Reserve Board, University of California, Berkeley and University of Lausanne
Downloads 111 (244,769)
Citation 32

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Over-the-counter market, corporate bond, trading cost, liquidity, decentralization, financial network

Relationship Trading in OTC Markets

CEPR Discussion Paper No. DP12472
Number of pages: 49 Posted: 12 Dec 2017
University of California, Berkeley - Haas School of Business, Federal Reserve Board, University of California, Berkeley and University of Lausanne
Downloads 2 (660,561)
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corporate bond, Decentralization, Financial Networks, liquidity, Over-the-counter market, trading cost

12.

Are Household Investors Noise Traders: Evidence from Belief Dispersion and Stock Trading Volume

FEDS Working Paper No. 2014-35
Number of pages: 48 Posted: 18 May 2014
Dan Li and Geng Li
Federal Reserve Board and Federal Reserve Board
Downloads 93 (274,459)

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Belief dispersion, trading volume, household investors, surveys of consumers

13.

Belief Dispersion, Dispersion of Belief Changes, and Trading Volume: Evidence from Surveys of Consumers and Professional Forecasters

Number of pages: 42 Posted: 17 Mar 2010 Last Revised: 12 Jul 2010
Dan Li and Geng Li
Federal Reserve Board and Federal Reserve Board
Downloads 68 (330,195)
Citation 1

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Belief Dispersion, Belief Change, Trading Volume, Surveys of Consumers, Survey of Professional Forecasters

14.

Liquidity, Runs, and Security Design

Number of pages: 52 Posted: 16 Feb 2009
Song Han and Dan Li
Federal Reserve Board - Division of Research and Statistics and Federal Reserve Board
Downloads 58 (357,968)
Citation 2

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Auction rate securities, municipal bond pricing, liquidity crisis, uniform-price auctions

15.

Belief Dispersion Among Household Investors and Stock Trading Volume

FEDS Working Paper No. 2011-39
Number of pages: 34 Posted: 09 Nov 2011
Geng Li and Dan Li
Federal Reserve Board and Federal Reserve Board
Downloads 45 (400,463)
Citation 1

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Belief dispersion, trading volume, household investors, Surveys of Consumers