Dan Li

Federal Reserve Board

Economist

20th and C Streets, NW

Mail Stop 89

Washington, DC 20551

United States

SCHOLARLY PAPERS

18

DOWNLOADS
Rank 7,586

SSRN RANKINGS

Top 7,586

in Total Papers Downloads

6,453

SSRN CITATIONS
Rank 3,113

SSRN RANKINGS

Top 3,113

in Total Papers Citations

165

CROSSREF CITATIONS

226

Scholarly Papers (18)

1.
Downloads 1,423 ( 14,116)
Citation 84

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 1,422 (13,863)
Citation 41

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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 (742,219)
Citation 28
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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 496 (61,098)
Citation 1

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Corporate Bond; Herding; Institutional Investors; Return Reversal

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

FEDS Working Paper No. 2016-091
Number of pages: 58 Posted: 28 Nov 2016
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 243 (137,422)
Citation 11

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Corporate Bond, Herding, Institutional Investors, Liquidity, 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 209 (159,056)
Citation 1

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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 757 (35,569)
Citation 2

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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 621 (46,384)
Citation 26

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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 541 (55,382)
Citation 7

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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 540 (55,753)
Citation 18

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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 207 (160,569)
Citation 2

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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 127 (244,385)
Citation 2

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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 244 (137,370)

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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 223 (149,943)
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 211 (157,923)
Citation 4

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 211 (157,655)
Citation 4

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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

Municipal Bond Markets

Annual Review of Financial Economics, Vol. 11, pp. 65-84, 2019
Posted: 12 Jan 2020
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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11.
Downloads 159 (204,298)
Citation 35

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 157 (205,743)
Citation 41

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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 (728,094)
Citation 8
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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 104 (281,260)

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

13.

CEO Pay and the Market for CEOs

FEDS Working Paper No. 2012-39
Number of pages: 67 Posted: 18 Dec 2012
Board of Governors of the Federal Reserve System, Washington University in Saint Louis - Olin Business School and Federal Reserve Board
Downloads 103
Citation 7

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Determinants of CEO pay, CEO labor market

14.

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 73 (349,924)
Citation 1

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

15.

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 62 (381,580)
Citation 1

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

16.

Dealer Networks

FEDS Working Paper No. 2014-95
Number of pages: 68 Posted: 05 Dec 2014
Dan Li and Norman Schürhoff
Federal Reserve Board and University of Lausanne
Downloads 60 (387,774)
Citation 12

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Municipal bonds, over-the-counter financial market, network analysis, trading cost, liquidity, immediacy, transparency

17.

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 50 (421,859)
Citation 2

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

18.

The U.S. Syndicated Term Loan Market: Who Holds What and When?

FED Notes No. 2019-11-25
Posted: 19 Dec 2019
Board of Governors of the Federal Reserve System, Federal Reserve Board, Federal Reserve Board and Board of Governors of the Federal Reserve System

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