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Efraim Benmelech

Northwestern University - Kellogg School of Management

Harold L. Stuart Professor of Finance

Evanston, IL 60208

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Northwestern University - Kellogg School of Management

  • National Bureau of Economic Research (NBER)

SCHOLARLY PAPERS

32

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CITATIONS
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in Total Papers Citations

338

Scholarly Papers (32)

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1.

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

Downloads 1,570 ( 8,596)
Citation 3

Did the Community Reinvestment Act (CRA) Lead to Risky Lending?

Kreisman Working Papers Series in Housing Law and Policy No. 8
Number of pages: 44 Posted: 08 Nov 2012 Last Revised: 08 Jan 2015
Sumit Agarwal, Efraim Benmelech, Nittai Bergman and Amit Seru
Georgetown University - Department of Finance, Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Stanford University
Downloads 1,458 (9,520)
Citation 3

Abstract:

CRA, Financial Institutions, Mortgages, Financial Crisis, Household Finance

Did the Community Reinvestment Act (Cra) Lead to Risky Lending?

NBER Working Paper No. w18609
Number of pages: 45 Posted: 07 Dec 2012
Sumit Agarwal, Efraim Benmelech, Nittai Bergman and Amit Seru
Georgetown University - Department of Finance, Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Stanford University
Downloads 112 (209,636)
Citation 3

Abstract:

2.

Securitization without Adverse Selection: The Case of CLOs

Downloads 1,032 ( 16,736)
Citation 14

Securitization without Adverse Selection: The Case of CLOs

AFA 2010 Atlanta Meetings Paper
Number of pages: 58 Posted: 16 Feb 2009 Last Revised: 16 Apr 2013
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Washington University in St. Louis - John M. Olin Business School and Harvard University
Downloads 988 (17,547)
Citation 14

Abstract:

Structured finance, Collateralized loan obligations (CLOs), CDOs, Syndicated loans

Securitization Without Adverse Selection: The Case of Clos

NBER Working Paper No. w16766
Number of pages: 46 Posted: 07 Feb 2011
Efraim Benmelech, Jennifer Dlugosz and Victoria Ivashina
Northwestern University - Kellogg School of Management, Washington University in St. Louis - John M. Olin Business School and Harvard University
Downloads 44 (358,096)
Citation 14

Abstract:

3.

Collateral Pricing

Downloads 481 ( 48,196)
Citation 29

Collateral Pricing

AFA 2008 New Orleans Meetings Paper
Number of pages: 36 Posted: 06 Feb 2007
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 430 (54,837)
Citation 29

Abstract:

Collateral, Secured debt, Redeployability, Airlines

Collateral Pricing

NBER Working Paper No. w13874
Number of pages: 46 Posted: 19 Mar 2008
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 51 (335,594)
Citation 29

Abstract:

4.

Financing Labor

Downloads 336 ( 74,272)
Citation 6

Financing Labor

Number of pages: 35 Posted: 20 May 2015
Efraim Benmelech, Nittai Bergman and Amit Seru
Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Stanford University
Downloads 189 (135,095)
Citation 6

Abstract:

Credit, Financial Constraints, Labor, Unemployment.

Financing Labor

NBER Working Paper No. w17144
Number of pages: 33 Posted: 20 Jun 2011
Efraim Benmelech, Nittai Bergman and Amit Seru
Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Stanford University
Downloads 147 (169,052)
Citation 6

Abstract:

5.

The Credit Rating Crisis

NBER Working Paper No. w15045
Number of pages: 57 Posted: 08 Jun 2009 Last Revised: 03 Oct 2010
Efraim Benmelech and Jennifer Dlugosz
Northwestern University - Kellogg School of Management and Washington University in St. Louis - John M. Olin Business School
Downloads 310 (67,215)
Citation 31

Abstract:

6.

Stock-Based Compensation and CEO (Dis)Incentives

Downloads 305 ( 82,793)
Citation 20

Stock-Based Compensation and CEO (Dis)Incentives

Number of pages: 53 Posted: 27 Mar 2008
Efraim Benmelech, Eugene Kandel and Pietro Veronesi
Northwestern University - Kellogg School of Management, Hebrew University of Jerusalem - Department of Economics and University of Chicago - Booth School of Business
Downloads 262 (97,379)
Citation 20

Abstract:

executive compensation, corporate governance

Stock-Based Compensation and CEO (Dis)Incentives

NBER Working Paper No. w13732
Number of pages: 54 Posted: 11 Jan 2008
Efraim Benmelech, Pietro Veronesi and Eugene Kandel
Northwestern University - Kellogg School of Management, University of Chicago - Booth School of Business and Hebrew University of Jerusalem - Department of Economics
Downloads 38 (379,783)
Citation 20

Abstract:

Stock-Based Compensation and CEO (Dis)Incentives

CEPR Discussion Paper No. DP6515
Number of pages: 52 Posted: 05 Jun 2008
Efraim Benmelech, Eugene Kandel and Pietro Veronesi
Northwestern University - Kellogg School of Management, Hebrew University of Jerusalem - Department of Economics and University of Chicago - Booth School of Business
Downloads 5 (552,081)
Citation 20
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Abstract:

CEO compensation, Sub-optimal investments

7.

The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles

Downloads 283 ( 90,134)

The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles

Number of pages: 74 Posted: 18 Oct 2014 Last Revised: 08 Feb 2016
Efraim Benmelech, Ralf R. Meisenzahl and Rodney Ramcharan
Northwestern University - Kellogg School of Management, Federal Reserve Board and University of Southern California, Marshall School of Business
Downloads 272 (93,628)

Abstract:

liquidity, crises, credit

The Real Effects of Liquidity During the Financial Crisis: Evidence from Automobiles

NBER Working Paper No. w22148
Number of pages: 75 Posted: 11 Apr 2016
Efraim Benmelech, Ralf R. Meisenzahl and Rodney Ramcharan
Northwestern University - Kellogg School of Management, Federal Reserve Board and University of Southern California, Marshall School of Business
Downloads 11 (519,804)
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8.

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

Downloads 278 ( 91,932)
Citation 28

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

9th Annual Texas Finance Festival, AFA 2008 New Orleans Meetings Paper
Number of pages: 40 Posted: 12 Mar 2007 Last Revised: 23 May 2008
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 266 (95,871)
Citation 28

Abstract:

Renegotiation, Liquidation Values, Incomplete Contracts, Aircraft

Liquidation Values and the Credibility of Financial Contract Renegotiation: Evidence from U.S. Airlines

NBER Working Paper No. w14059
Number of pages: 40 Posted: 09 Jun 2008
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 12 (514,061)
Citation 28

Abstract:

9.

Negotiating with Labor Under Financial Distress

Downloads 215 (119,767)
Citation 7

Negotiating with Labor Under Financial Distress

AFA 2011 Denver Meetings Paper
Number of pages: 50 Posted: 25 Feb 2010
Efraim Benmelech, Nittai Bergman and Ricardo Enriquez
Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Harvard University
Downloads 199 (128,747)
Citation 7

Abstract:

Labor, Finance, Pension, Negotiations

Negotiating with Labor Under Financial Distress

NBER Working Paper No. w17192
Number of pages: 48 Posted: 11 Jul 2011
Efraim Benmelech, Nittai Bergman and Ricardo Enriquez
Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management and Harvard University
Downloads 16 (490,612)
Citation 7

Abstract:

10.

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 18th and 19th Century

AFA 2007 Chicago Meetings Paper
Number of pages: 57 Posted: 17 Mar 2006
Efraim Benmelech and Tobias J. Moskowitz
Northwestern University - Kellogg School of Management and Yale University, Yale SOM
Downloads 212 (113,995)
Citation 25

Abstract:

Financial Development, Regulation, Usury

11.

Credit Traps

Downloads 208 (123,648)
Citation 3

Credit Traps

AFA 2011 Denver Meetings Paper
Number of pages: 40 Posted: 14 Mar 2010
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 184 (138,607)
Citation 3

Abstract:

Liquidity, Credit Channel of Monetary Policy, Collateral, Banking

Credit Traps

NBER Working Paper No. w16200
Number of pages: 50 Posted: 19 Jul 2010 Last Revised: 31 Jul 2010
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 24 (444,298)
Citation 3

Abstract:

12.

Economic Conditions and the Quality of Suicide Terrorism

Downloads 188 (135,898)
Citation 5

Economic Conditions and the Quality of Suicide Terrorism

Number of pages: 40 Posted: 26 Mar 2009 Last Revised: 25 Feb 2010
Efraim Benmelech, Claude Berrebi and Esteban F. Klor
Northwestern University - Kellogg School of Management, RAND Corporation and Hebrew University of Jerusalem - Department of Economics
Downloads 166 (152,119)
Citation 5

Abstract:

Quantity and Quality of Terrorism, Economic Conditions, Suicide Terrorists

Economic Conditions and the Quality of Suicide Terrorism

NBER Working Paper No. w16320
Number of pages: 40 Posted: 30 Aug 2010
Efraim Benmelech, Claude Berrebi and Esteban F. Klor
Northwestern University - Kellogg School of Management, RAND Corporation and Hebrew University of Jerusalem - Department of Economics
Downloads 20 (467,315)
Citation 5

Abstract:

Economic Conditions and the Quality of Suicide Terrorism

CEPR Discussion Paper No. DP7995
Number of pages: 42 Posted: 14 Nov 2010
Efraim Benmelech, Claude Berrebi and Esteban F. Klor
Northwestern University - Kellogg School of Management, RAND Corporation and Hebrew University of Jerusalem - Department of Economics
Downloads 2 (571,627)
Citation 5
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Abstract:

Economic Conditions, Quantity and Quality of Terrorism, Suicide Terrorists

13.

Vintage Capital and Creditor Protection

Downloads 164 (153,695)
Citation 3

Vintage Capital and Creditor Protection

Number of pages: 42 Posted: 26 Mar 2008 Last Revised: 22 Oct 2008
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 151 (165,217)
Citation 3

Abstract:

Vintage Capital, Creditor Rights, Finance and Growth, Airlines

Vintage Capital and Creditor Protection

NBER Working Paper No. w15735
Number of pages: 53 Posted: 10 Feb 2010
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 13 (508,176)
Citation 3

Abstract:

14.

The Alchemy of Cdo Credit Ratings

NBER Working Paper No. w14878
Number of pages: 43 Posted: 20 Apr 2009
Efraim Benmelech and Jennifer Dlugosz
Northwestern University - Kellogg School of Management and Washington University in St. Louis - John M. Olin Business School
Downloads 139 (167,811)
Citation 55

Abstract:

15.

What Explains the Flow of Foreign Fighters to Isis?

Downloads 87 (247,637)

What Explains the Flow of Foreign Fighters to Isis?

NBER Working Paper No. w22190
Number of pages: 27 Posted: 25 Apr 2016 Last Revised: 06 May 2016
Efraim Benmelech and Esteban F. Klor
Northwestern University - Kellogg School of Management and Hebrew University of Jerusalem - Department of Economics
Downloads 46 (351,415)
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Abstract:

What Explains the Flow of Foreign Fighters to ISIS?

Number of pages: 27 Posted: 10 May 2016
Efraim Benmelech and Esteban F. Klor
Northwestern University - Kellogg School of Management and Hebrew University of Jerusalem - Department of Economics
Downloads 41 (368,595)

Abstract:

16.

Credit Market Freezes

Downloads 81 (258,956)

Credit Market Freezes

Number of pages: 47 Posted: 22 Jun 2017
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 71 (282,580)

Abstract:

Credit Market, Financial Crises, Illiquidity

Credit Market Freezes

NBER Working Paper No. w23512
Number of pages: 48 Posted: 19 Jun 2017
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 10 (525,344)
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Abstract:

17.

Do Liquidation Values Affect Financial Contracts? Evidence from Commercial Loan Contracts and Zoning Regulation

NBER Working Paper No. w11004
Number of pages: 50 Posted: 20 Jan 2005 Last Revised: 15 Aug 2014
Efraim Benmelech, Tobias J. Moskowitz and Mark J. Garmaise
Northwestern University - Kellogg School of Management, Yale University, Yale SOM and University of California, Los Angeles (UCLA) - Anderson School of Management
Downloads 56 (316,056)
Citation 39

Abstract:

18.

Counter-Suicide-Terrorism: Evidence from House Demolitions

Downloads 53 (324,474)
Citation 1

Counter-Suicide-Terrorism: Evidence from House Demolitions

Number of pages: 48 Posted: 19 Oct 2012 Last Revised: 13 Nov 2012
Efraim Benmelech, Esteban F. Klor and Claude Berrebi
Northwestern University - Kellogg School of Management, Hebrew University of Jerusalem - Department of Economics and RAND Corporation
Downloads 32 (404,212)
Citation 1

Abstract:

Counterterrorism, House Demolitions, Suicide Terrorists

Counter-Suicide-Terrorism: Evidence from House Demolitions

NBER Working Paper No. w16493
Number of pages: 36 Posted: 01 Nov 2010
Efraim Benmelech, Claude Berrebi and Esteban F. Klor
Northwestern University - Kellogg School of Management, RAND Corporation and Hebrew University of Jerusalem - Department of Economics
Downloads 21 (461,482)
Citation 1

Abstract:

19.

The Political Economy of Financial Regulation: Evidence from U.S. State Usury Laws in the 19th Century

NBER Working Paper No. w12851
Number of pages: 53 Posted: 24 Jan 2007
Tobias J. Moskowitz and Efraim Benmelech
Yale University, Yale SOM and Northwestern University - Kellogg School of Management
Downloads 49 (298,009)
Citation 24

Abstract:

20.

Attack Assignments in Terror Organizations and the Productivity of Suicide Bombers

NBER Working Paper No. w12910
Number of pages: 30 Posted: 17 Feb 2007 Last Revised: 05 Apr 2007
Efraim Benmelech and Claude Berrebi
Northwestern University - Kellogg School of Management and RAND Corporation
Downloads 40 (336,299)
Citation 5

Abstract:

21.

Military CEOS

NBER Working Paper No. w19782
Number of pages: 56 Posted: 04 Jan 2014 Last Revised: 23 Jan 2014
Efraim Benmelech and Carola Frydman
Northwestern University - Kellogg School of Management and Northwestern University
Downloads 37 (339,304)
Citation 8

Abstract:

22.

Bankruptcy and the Collateral Channel

NBER Working Paper No. w15708
Number of pages: 57 Posted: 01 Feb 2010
Efraim Benmelech and Nittai Bergman
Northwestern University - Kellogg School of Management and Massachusetts Institute of Technology (MIT) - Sloan School of Management
Downloads 33 (361,459)
Citation 22

Abstract:

23.

The Agglomeration of Bankruptcy

NBER Working Paper No. w20254
Number of pages: 50 Posted: 30 Jun 2014
Efraim Benmelech, Nittai Bergman, Anna Milanez and Vladimir Mukharlyamov
Northwestern University - Kellogg School of Management, Massachusetts Institute of Technology (MIT) - Sloan School of Management, Deloitte Consulting LLP and Georgetown University - McDonough School of Business
Downloads 12 (483,245)

Abstract:

24.

Does Short-Term Debt Increase Vulnerability to Crisis? Evidence from the East Asian Financial Crisis

NBER Working Paper No. w17468
Number of pages: 33 Posted: 30 Sep 2011
Efraim Benmelech and Eyal Dvir
Northwestern University - Kellogg School of Management and Charles River Associates (CRA) - Competition Practice
Downloads 12 (462,365)
Citation 3

Abstract:

25.

The Economic Cost of Harboring Terrorism

NBER Working Paper No. w15465
Number of pages: 32 Posted: 03 Nov 2009 Last Revised: 10 Nov 2009
Efraim Benmelech, Claude Berrebi and Esteban F. Klor
Northwestern University - Kellogg School of Management, RAND Corporation and Hebrew University of Jerusalem - Department of Economics
Downloads 9 (483,245)
Citation 3

Abstract:

26.

An Empirical Analysis of the Fed's Term Auction Facility

NBER Working Paper No. w18304
Number of pages: 32 Posted: 18 Aug 2012
Efraim Benmelech
Northwestern University - Kellogg School of Management
Downloads 5 (488,352)

Abstract:

27.

Repossession and the Democratization of Credit

NBER Working Paper No. w17858
Number of pages: 37 Posted: 24 Feb 2012 Last Revised: 27 Oct 2014
Juliano J. Assunção, Efraim Benmelech and Fernando Souza Silva
Pontifical Catholic University of Rio de Janeiro (PUC-Rio) - Department of Economics, Northwestern University - Kellogg School of Management and affiliation not provided to SSRN
Downloads 5 (503,762)

Abstract:

28.

Making the House a Home: The Stimulative Effect of Home Purchases on Consumption and Investment

NBER Working Paper No. w23570
Number of pages: 64 Posted: 17 Jul 2017
Efraim Benmelech, Adam M. Guren and Brian Melzer
Northwestern University - Kellogg School of Management, Boston University - Department of Economics and Northwestern University - Kellogg School of Management - Department of Finance
Downloads 0 (493,603)
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Abstract:

29.

Credit Ratings: Qualitative Versus Quantitative Information

Number of pages: 49 Posted: 19 Jun 2017
Efraim Benmelech
Northwestern University - Kellogg School of Management
Downloads 0 (288,561)

Abstract:

Credit Rating

Abstract:

Credit Rating

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Abstract:

32.

Asset Salability and Debt Maturity: Evidence from Nineteenth-Century American Railroads

The Review of Financial Studies, Vol. 22, No. 4, pp. 1545-1584, 2009
Posted: 23 Mar 2009
Efraim Benmelech
Northwestern University - Kellogg School of Management

Abstract:

G32, G33, L92, N21, N71

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