Lukas Schmid

University of Southern California - Marshall School of Business

701 Exposition Blvd, HOH 431

Los Angeles, CA California 90089-1424

United States

SCHOLARLY PAPERS

23

DOWNLOADS
Rank 4,145

SSRN RANKINGS

Top 4,145

in Total Papers Downloads

10,352

SSRN CITATIONS
Rank 4,320

SSRN RANKINGS

Top 4,320

in Total Papers Citations

153

CROSSREF CITATIONS

128

Scholarly Papers (23)

1.

Investment-Based Corporate Bond Pricing

Journal of Finance, Forthcoming
Number of pages: 57 Posted: 20 Sep 2011 Last Revised: 10 Jun 2014
Lars-Alexander Kuehn and Lukas Schmid
Carnegie Mellon University - David A. Tepper School of Business and University of Southern California - Marshall School of Business
Downloads 1,299 (16,240)
Citation 18

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Real investment, dynamic capital structure, default risk, credit spreads, recursive preferences, macroeconomic risk

2.

Fiscal Policies and Asset Prices

Review of Financial Studies, 2012
Number of pages: 47 Posted: 15 Jun 2011 Last Revised: 10 Mar 2017
Finance Department, Bocconi University, London Business School, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 1,211 (18,062)
Citation 16

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cost of equity, corporate tax uncertainty, tax smoothing

3.

Innovation, Growth, and Asset Prices

AFA 2012 Chicago Meetings Paper
Number of pages: 50 Posted: 21 Mar 2011 Last Revised: 12 Jun 2014
Howard Kung and Lukas Schmid
London Business School and University of Southern California - Marshall School of Business
Downloads 1,194 (18,475)
Citation 31

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Endogenous growth, asset pricing, innovation, R&D, productivity, recursive preferences

4.
Downloads 1,020 ( 23,316)
Citation 21

Equilibrium Credit Spreads and the Macroeconomy

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 18 Mar 2009 Last Revised: 15 Jun 2011
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 538 (55,120)
Citation 26

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Credit Spreads, Capital Structure, Equity Premium, Predictability, General Equilibrium

Equilibrium Credit Spreads and the Macroeconomy

The Wharton School Research Paper No. 42
Number of pages: 46 Posted: 06 Jun 2012
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 267 (124,640)

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Equilibrium Credit Spreads and the Macroeconomy

Number of pages: 33 Posted: 18 Feb 2009
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 215 (154,872)
Citation 4

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Credit Spreads, Capital Structure, Equity Premium, Preictability, General Equilibrium

5.

Testing Dynamic Agency Theory via Structural Estimation

Simon School Working Paper No. FR 12-06, AFA 2013 San Diego Meetings Paper
Number of pages: 42 Posted: 15 Mar 2012
Boris Nikolov and Lukas Schmid
University of Lausanne and University of Southern California - Marshall School of Business
Downloads 943 (26,120)
Citation 8

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Dynamic agency, q-theory, dynamic contracting, managerial compensation, structural estimation, capital structure

6.

Interest Rate Risk Management in Uncertain Times

Number of pages: 58 Posted: 18 Jan 2016 Last Revised: 05 Dec 2017
Lorenzo Bretscher, Lukas Schmid and Andrea Vedolin
London Business School - Department of Finance, University of Southern California - Marshall School of Business and Boston University - Department of Finance & Economics
Downloads 731 (37,278)
Citation 3

Abstract:

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interest rate uncertainty, volatility, risk management, interest rate swaps, financial frictions, corporate investment, leverage, credit risk

7.

The Market Price of Fiscal Uncertainty

Carnegie-Rochester Conference Series on Public Policy, JME 2012
Number of pages: 41 Posted: 01 Nov 2011 Last Revised: 10 Mar 2017
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 703 (39,316)
Citation 9

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Robustness, Endogenous Growth, Asset Prices

8.
Downloads 589 ( 49,726)
Citation 10

Government Debt and the Returns to Innovation

Journal of Financial Economics (JFE), Forthcoming, Fisher College of Business Working Paper No. 2016-03-10, Charles A. Dice Center Working Paper No. 2016-10
Number of pages: 81 Posted: 24 May 2016 Last Revised: 25 Jul 2018
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance, University of North Carolina (UNC) at Chapel Hill - Department of Economics and University of Southern California - Marshall School of Business
Downloads 589 (49,089)
Citation 4

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Government Debt, Fiscal Uncertainty, Cross Section of Stock Returns, Predictability, R&D, Growth

Government Debt and the Returns to Innovation

CEPR Discussion Paper No. DP12617
Number of pages: 81 Posted: 22 Jan 2018
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance, University of North Carolina (UNC) at Chapel Hill - Department of Economics and University of Southern California - Marshall School of Business
Downloads 0
Citation 2
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Cross Section of Stock Returns, Fiscal Uncertainty, Government Debt, growth, predictability, R&D

9.

Competition, Markups and Predictable Returns

Number of pages: 47 Posted: 18 Jan 2015 Last Revised: 27 Aug 2019
Alexandre Corhay, Howard Kung and Lukas Schmid
University of Toronto - Rotman School of Management, London Business School and University of Southern California - Marshall School of Business
Downloads 554 (53,707)
Citation 23

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Production-based asset pricing, imperfect competition, time-varying risk premia, stock return predictability, recursive preferences

10.

A Quantitative Dynamic Agency Model of Financing Constraints

Number of pages: 46 Posted: 25 Jul 2009
Lukas Schmid
University of Southern California - Marshall School of Business
Downloads 446 (70,397)
Citation 16

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Dynamic Agency, Limited Enforcement, Financing Constraints, Capital Structure, Investment, Cross-Section of Stock Returns

11.

Dynamic Corporate Liquidity

Number of pages: 65 Posted: 13 Mar 2013 Last Revised: 20 May 2017
Boris Nikolov, Lukas Schmid and Roberto Steri
University of Lausanne, University of Southern California - Marshall School of Business and University of Luxembourg
Downloads 415 (76,771)
Citation 12

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Corporate liquidity, cash, credit lines, debt capacity, leverage, corporate investment, hedging

12.

Levered Returns

Number of pages: 45 Posted: 02 Mar 2007
Joao F. Gomes and Lukas Schmid
The Wharton School and University of Southern California - Marshall School of Business
Downloads 402 (79,613)
Citation 37

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Cross-section of Returns, Growth Options, Financing, Leverage, Capital Structure

13.

Sticky Leverage

The Wharton School Research Paper No. 52
Number of pages: 44 Posted: 29 May 2013 Last Revised: 11 May 2016
Joao F. Gomes, Urban J. Jermann and Lukas Schmid
The Wharton School, University of Pennsylvania - Finance Department and University of Southern California - Marshall School of Business
Downloads 248 (135,215)
Citation 8

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Debt deflation, debt overhang, monetary non-neutrality

14.

The Sources of Financing Constraints

Swiss Finance Institute Research Paper No. 18-74, European Corporate Governance Institute – Finance Working Paper No. 641/2019
Number of pages: 75 Posted: 03 Dec 2018 Last Revised: 07 Dec 2019
Boris Nikolov, Lukas Schmid and Roberto Steri
University of Lausanne, University of Southern California - Marshall School of Business and University of Luxembourg
Downloads 233 (143,759)
Citation 4

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Financing constraints, financial frictions, moral hazard, limited enforcement, tradeoff, dynamic contracting, agency, structural estimation, empirical policy function estimation

15.
Downloads 110 (270,498)

A Tax Plan for Endogenous Innovation

Number of pages: 44 Posted: 14 Apr 2017
Finance Department, Bocconi University, Federal Reserve Banks - Federal Reserve Bank of Atlanta, University of North Carolina (UNC) at Chapel Hill - Department of Economics and University of Southern California - Marshall School of Business
Downloads 87 (318,311)

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Innovation, endogenous growth, government debt, labor tax, subsidy, profit tax

A Tax Plan for Endogenous Innovation

FRB Atlanta Working Paper No. 2017-13
Number of pages: 45 Posted: 23 Aug 2018 Last Revised: 14 Apr 2020
Finance Department, Bocconi University, Federal Reserve Banks - Federal Reserve Bank of Atlanta, University of North Carolina (UNC) at Chapel Hill and University of Southern California - Marshall School of Business
Downloads 23 (565,494)

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innovation, R&D investment, endogenous growth, government debt, labor tax, subsidy, profit tax

16.

Global Entropy

Number of pages: 53 Posted: 16 Feb 2014 Last Revised: 11 Sep 2015
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business
Downloads 103 (283,137)
Citation 1

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Global Growth, Entropy, Contagion

17.
Downloads 86 (317,907)
Citation 6

Risk-Adjusted Capital Allocation and Misallocation

Number of pages: 75 Posted: 18 Oct 2018
Joel David, Lukas Schmid and David Zeke
University of Southern California, University of Southern California - Marshall School of Business and University of Southern California - Department of Economics
Downloads 85 (323,000)
Citation 8

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Misallocation, Costs of Business Cycles, Cross-Section of Returns, Time-Varying Risk Premia

Risk-Adjusted Capital Allocation and Misallocation

CEPR Discussion Paper No. DP13205
Number of pages: 78 Posted: 02 Oct 2018
Lukas Schmid, Joel David and David Zeke
University of Southern California - Marshall School of Business, University of Southern California and University of Southern California - Department of Economics
Downloads 1 (742,219)
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costs of business cycles, cross-section of returns, Misallocation, time-varying risk premia

18.

Q: Risk, Rents, or Growth?

Number of pages: 67 Posted: 26 Mar 2020 Last Revised: 29 Apr 2020
Alexandre Corhay, Howard Kung and Lukas Schmid
University of Toronto - Rotman School of Management, London Business School and University of Southern California - Marshall School of Business
Downloads 58 (394,316)
Citation 3

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Tobin's Q, Aggregate demand, Simulated method of moments, Corporate investment, Intangible capital, Innovation, Industry concentration, Price-dividend ratios, Asset valuations, Equity premium

Benchmark Interest Rates When the Government is Risky

NBER Working Paper No. w26429
Number of pages: 72 Posted: 06 Nov 2019
McGill University, Desautels Faculty of Management, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
Downloads 7 (683,331)
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Benchmark Interest Rates When the Government is Risky

CEPR Discussion Paper No. DP14105
Number of pages: 74 Posted: 15 Nov 2019 Last Revised: 02 Dec 2019
McGill University, Desautels Faculty of Management, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
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negative swap rates, recursive preferences, sovereign credit risk, term structure

A No-Arbitrage Perspective on Global Arbitrage Opportunities

CEPR Discussion Paper No. DP14774
Number of pages: 53 Posted: 28 May 2020
McGill University, Desautels Faculty of Management, UCLA Anderson, University of Southern California - Marshall School of Business and Johns Hopkins University - Carey Business School
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21.

Credit Market Equivalents and the Valuation of Private Firms

Posted: 16 Oct 2019
Indiana University - Kelley School of Business, University of Southern California - Marshall School of Business and University of Luxembourg

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private equity, stochastic discount factor, loan and corporate bond returns, secondary market trading, machine learning, portfolio company level PE data

22.

A Macrofinance View of U.S. Sovereign CDS Premiums

CEPR Discussion Paper No. DP11576
Number of pages: 39 Posted: 24 Oct 2016
UCLA Anderson, University of Southern California - Marshall School of Business and Board of Governors of the Federal Reserve System
Downloads 0 (726,205)
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credit default swaps, recursive preferences, sovereign default

23.

Fiscal Policy and the Distribution of Consumption Risk

Posted: 29 Jun 2011 Last Revised: 19 Nov 2018
Finance Department, Bocconi University, Ohio State University (OSU) - Department of Finance and University of Southern California - Marshall School of Business

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Fiscal Policy, Endogenous Growth, Recursive Preferences, Welfare Costs