Asaf Manela

Washington University in St. Louis - John M. Olin Business School

Assistant Professor of Finance

One Brookings Drive

Campus Box 1133

St. Louis, MO 63130-4899

United States

http://apps.olin.wustl.edu/faculty/manela

  • Washington University in St. Louis - John M. Olin Business School

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    • Tel: 314-935-9178
SCHOLARLY PAPERS

15

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9,221

SSRN CITATIONS
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SSRN RANKINGS

Top 3,222

in Total Papers Citations

285

CROSSREF CITATIONS

128

Scholarly Papers (15)

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1.

Business News and Business Cycles

Downloads 3,634 ( 4,228)
Citation 11

Business News and Business Cycles

Number of pages: 65 Posted: 07 Sep 2019 Last Revised: 23 Sep 2021
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 3,605 (4,214)
Citation 3

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Textual analysis, macroeconomic news, attention, Wall Street Journal, volatility, VAR, machine learning

The Structure of Economic News

NBER Working Paper No. w26648
Number of pages: 55 Posted: 22 Jan 2020 Last Revised: 18 Nov 2021
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 22 (707,092)
Citation 5
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Business News and Business Cycles

NBER Working Paper No. w29344
Number of pages: 66 Posted: 11 Oct 2021 Last Revised: 18 Nov 2021
Leland Bybee, Bryan T. Kelly, Asaf Manela and Dacheng Xiu
Yale School of Management, Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Chicago - Booth School of Business
Downloads 7 (850,941)
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2.

Text Selection

Downloads 1,098 ( 28,177)
Citation 2

Text Selection

Number of pages: 57 Posted: 10 Dec 2019
Bryan T. Kelly, Asaf Manela and Alan Moreira
Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 1,069 (28,817)
Citation 2

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Text analysis, machine learning, selection model, high dimension forecast, multinomial regression, hurdle, zero inflation, partisanship, intermediary capital

Text Selection

NBER Working Paper No. w26517
Number of pages: 58 Posted: 03 Dec 2019 Last Revised: 16 Jun 2022
Bryan T. Kelly, Asaf Manela and Alan Moreira
Yale SOM, Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 29 (652,746)

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3.

Does Finance Benefit Society? A Language Embedding Approach

Number of pages: 49 Posted: 03 Aug 2020 Last Revised: 28 Jun 2022
Manish Jha, Hongyi Liu and Asaf Manela
Georgia State University - Department of Finance, Washington University in St. Louis - Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 694 (52,945)
Citation 3

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sentiment, text analysis, word embedding, BERT, transfer learning, financial crises

4.

News Implied Volatility and Disaster Concerns

Journal of Financial Economics (JFE), Vol. 123, No. 1, 2017
Number of pages: 63 Posted: 21 Jan 2014 Last Revised: 10 Jan 2017
Asaf Manela and Alan Moreira
Washington University in St. Louis - John M. Olin Business School and University of Rochester - Simon Business School
Downloads 677 (54,684)
Citation 59

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Text-based analysis, implied volatility, rare disasters, equity premium, return predictability, machine learning

5.

The Shadow Cost of Bank Capital Requirements

Review of Financial Studies, Forthcoming
Number of pages: 53 Posted: 19 Jun 2013 Last Revised: 24 Feb 2016
Roni Kisin and Asaf Manela
Analysis Group and Washington University in St. Louis - John M. Olin Business School
Downloads 597 (64,177)
Citation 24

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Financial intermediation, Bank capital requirements, Cost of capital regulation, Leverage, Regulatory Arbitrage, Loophole

6.

An Empirical Evaluation of the Black-Litterman Approach to Portfolio Choice

Number of pages: 37 Posted: 12 Mar 2011 Last Revised: 26 Oct 2012
Michael Gofman and Asaf Manela
Hebrew University of Jerusalem - Jerusalem School of Business Administration and Washington University in St. Louis - John M. Olin Business School
Downloads 414 (100,006)
Citation 1

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Bayesian portfolio choice, learning from prices, Black-Litterman

7.

The Partisanship of Financial Regulators

Number of pages: 49 Posted: 14 Nov 2019 Last Revised: 29 Dec 2021
Joseph Engelberg, Matthew Henriksson, Asaf Manela and Jared Williams
University of California, San Diego (UCSD) - Rady School of Management, University of Mississippi - School of Business Administration, Washington University in St. Louis - John M. Olin Business School and University of South Florida
Downloads 372 (113,006)

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Partisanship, Financial Regulation, Textual Analysis

8.

Hub-and-Spoke Regulation and Bank Leverage

Number of pages: 51 Posted: 25 Oct 2017
Yadav Gopalan, Ankit Kalda, Ankit Kalda and Asaf Manela
Indiana University - Kelley School of Business - Department of Accounting, Indiana University - Kelley School of Business - Department of FinanceWashington University in Saint Louis, John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 316 (134,853)
Citation 16

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hub-and-spoke, financial regulation, bank supervision, field offices, distance, proximity, regulatory capture

9.

Natural Disaster Effects on Popular Sentiment toward Finance

Journal of Financial and Quantitative Analysis (JFQA), Volume 56 - Issue 7 - November 2021
Number of pages: 35 Posted: 04 May 2021 Last Revised: 01 Dec 2021
Manish Jha, Hongyi Liu and Asaf Manela
Georgia State University - Department of Finance, Washington University in St. Louis - Department of Economics and Washington University in St. Louis - John M. Olin Business School
Downloads 313 (136,219)
Citation 1

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sentiment, natural disasters, text analysis, word embedding, COVID-19

10.

Funding and Incentives of Regulators: Evidence from Banking

Number of pages: 62 Posted: 20 Nov 2014 Last Revised: 28 Nov 2018
Roni Kisin and Asaf Manela
Analysis Group and Washington University in St. Louis - John M. Olin Business School
Downloads 279 (153,441)
Citation 3

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Regulation, User fees, Funding Regulation, Financial Regulation

11.

Liquidity and the Strategic Value of Information

Number of pages: 53 Posted: 09 Jul 2020 Last Revised: 07 Dec 2021
Ohad Kadan and Asaf Manela
Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 234 (182,484)

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value of information, liquidity, strategic trading, Covid-19

12.

The Value of Diffusing Information

Journal of Financial Economics (JFE), Vol. 111, No. 1, 2014
Number of pages: 43 Posted: 18 Nov 2008 Last Revised: 21 Jan 2014
Asaf Manela
Washington University in St. Louis - John M. Olin Business School
Downloads 183 (228,518)
Citation 9

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Value of information, Information diffusion, Percolation, Media coverage, Drug approvals

13.

Estimating the Value of Information

Number of pages: 83 Posted: 04 Jun 2016 Last Revised: 09 Jul 2020
Ohad Kadan and Asaf Manela
Washington University in St. Louis - John M. Olin Business School and Washington University in St. Louis - John M. Olin Business School
Downloads 161 (254,795)
Citation 11

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value of information, informativeness, options prices, recovery

14.

Information Acquisition in Rumor-Based Bank Runs

Downloads 137 (289,793)
Citation 23

Information Acquisition in Rumor-Based Bank Runs

Journal of Finance, Forthcoming
Number of pages: 55 Posted: 02 Sep 2011 Last Revised: 21 Jan 2014
Zhiguo He and Asaf Manela
University of Chicago - Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 133 (297,567)
Citation 1

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Bank runs, learning, information acquisition, belief heterogeneity, asynchronous awareness, temporal coordination, stress tests

Information Acquisition in Rumor Based Bank Runs

NBER Working Paper No. w18513
Number of pages: 55 Posted: 03 Nov 2012 Last Revised: 03 Aug 2022
Zhiguo He and Asaf Manela
University of Chicago - Finance and Washington University in St. Louis - John M. Olin Business School
Downloads 4 (885,318)
Citation 10

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15.

Intermediary Asset Pricing: New Evidence from Many Asset Classes

NBER Working Paper No. w21920
Number of pages: 69 Posted: 25 Jan 2016 Last Revised: 25 May 2022
Zhiguo He, Bryan T. Kelly and Asaf Manela
University of Chicago - Finance, Yale SOM and Washington University in St. Louis - John M. Olin Business School
Downloads 112 (335,708)
Citation 146

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