Stavros Panageas

University of California, Los Angeles (UCLA) - Finance Area

Los Angeles, CA 90095-1481

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

30

DOWNLOADS
Rank 8,109

SSRN RANKINGS

Top 8,109

in Total Papers Downloads

7,543

SSRN CITATIONS
Rank 2,309

SSRN RANKINGS

Top 2,309

in Total Papers Citations

310

CROSSREF CITATIONS

258

Scholarly Papers (30)

1.

The Neoclassical Theory of Investment in Speculative Markets

Number of pages: 57 Posted: 09 May 2005
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 1,414 (17,742)
Citation 46

Abstract:

Loading...

Investment, q-theory, speculation, short sales constraints, heterogenous beliefs, bubbles, mispricing

High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice

Number of pages: 49 Posted: 12 Nov 2004
Mark M. Westerfield and Stavros Panageas
University of Washington and University of California, Los Angeles (UCLA) - Finance Area
Downloads 1,064 (26,590)
Citation 20

Abstract:

Loading...

Performance Evaluation, Hedge funds, Option-Type Compensation, High-Water Marks, Continuous Time

High-Water Marks: High Risk Appetites? Convex Compensation, Long Horizons, and Portfolio Choice

Journal of Finance, February 2009
Number of pages: 49 Posted: 17 Dec 2008
Stavros Panageas and Mark M. Westerfield
University of California, Los Angeles (UCLA) - Finance Area and University of Washington
Downloads 202 (195,189)
Citation 4

Abstract:

Loading...

Performance evaluation, Hedge funds, Option-type compensation, High-water marks, Continuous time

3.

The Real Effects of Stock Market Mispricing at the Aggregate: Theory and Empirical Evidence

Number of pages: 55 Posted: 09 May 2005
Emmanuel Farhi and Stavros Panageas
Harvard University - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 817 (39,160)
Citation 12

Abstract:

Loading...

Mispricing, Efficiency, Real Effects of Stock market bubbles, Investment, Investor Sentiment

4.

Saving and Investing for Early Retirement: A Theoretical Analysis

Number of pages: 68 Posted: 02 Aug 2004
Emmanuel Farhi and Stavros Panageas
Harvard University - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 624 (56,120)
Citation 39

Abstract:

Loading...

Retirement, Portfolio Choice, Marginal Propensity to Consume, Indivisible Labor

5.
Downloads 376 (103,501)
Citation 27

Technological Growth and Asset Pricing

Journal of Finance, Forthcoming
Number of pages: 43 Posted: 07 Dec 2006 Last Revised: 17 May 2012
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 335 (116,981)
Citation 26

Abstract:

Loading...

Production-based asset pricing, continuous-time methods, macro-finance, growth options, irreversible investment, technology adoption, vintage models

Technological Growth and Asset Pricing

NBER Working Paper No. w15340
Number of pages: 58 Posted: 15 Sep 2009 Last Revised: 02 Dec 2021
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 41 (545,104)

Abstract:

Loading...

6.

Displacement Risk and Asset Returns

Journal of Financial Economics (JFE), Forthcoming
Number of pages: 50 Posted: 30 Jul 2011
Nicolae Garleanu, Leonid Kogan and Stavros Panageas
University of California, Berkeley - Haas School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 303 (131,054)
Citation 18

Abstract:

Loading...

consumption-based asset pricing, displacement risk, value premium, equity premium, incomplete markets

Bailouts, the Incentive to Manage Risk, and Financial Crises

Number of pages: 53 Posted: 19 Nov 2006 Last Revised: 02 Oct 2008
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 264 (150,457)
Citation 7

Abstract:

Loading...

Option Pricing, Continuous time stochastic optimization, Implicit Guarantees, Default, Bailouts, Financial Crises

Bailouts, the Incentive to Manage Risk, and Financial Crises

NBER Working Paper No. w15058
Number of pages: 54 Posted: 08 Jun 2009 Last Revised: 25 Aug 2021
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 30 (607,988)
Citation 1

Abstract:

Loading...

8.
Downloads 286 (139,215)
Citation 2

The Demographics of Innovation and Asset Returns

MFI Working Paper No. 2009-08
Number of pages: 52 Posted: 08 Jan 2010 Last Revised: 20 Dec 2013
Nicolae Garleanu, Leonid Kogan and Stavros Panageas
University of California, Berkeley - Haas School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 138 (270,727)
Citation 1

Abstract:

Loading...

The Demographics of Innovation and Asset Returns

Number of pages: 52 Posted: 22 Oct 2009 Last Revised: 29 Mar 2011
Nicolae Garleanu, Leonid Kogan and Stavros Panageas
University of California, Berkeley - Haas School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 110 (320,193)
Citation 1

Abstract:

Loading...

Asset Pricing, Equity Premium, Value Premium, Intergenerational Risk, Innovation, Displacement Risk

The Demographics of Innovation and Asset Returns

NBER Working Paper No. w15457
Number of pages: 52 Posted: 03 Nov 2009 Last Revised: 28 Mar 2021
Nicolae Garleanu, Leonid Kogan and Stavros Panageas
University of California, Berkeley - Haas School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 38 (560,973)
Citation 1

Abstract:

Loading...

A Quantitative Model of Sudden Stops and External Liquidity Management

Number of pages: 51 Posted: 12 Apr 2005
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 222 (178,455)

Abstract:

Loading...

Capital flows, sudden stops, reserves, international liquidity and liability management, specialists, world capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

A Quantitative Model of Sudden Stops and External Liquidity Management

NBER Working Paper No. w11293
Number of pages: 51 Posted: 06 Jun 2005 Last Revised: 11 Nov 2021
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 41 (545,104)

Abstract:

Loading...

Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion

Chicago Booth Research Paper No. 15-29, Fama-Miller Working Paper
Number of pages: 69 Posted: 20 Aug 2013 Last Revised: 09 Oct 2015
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 211 (187,283)

Abstract:

Loading...

Financial frictions, Market fragmentation, Leverage, Crashes, Contagion

Financial Entanglement: A Theory of Incomplete Integration, Leverage, Crashes, and Contagion

NBER Working Paper No. w19381
Number of pages: 62 Posted: 30 Aug 2013 Last Revised: 17 Dec 2021
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 11 (755,741)
Citation 6

Abstract:

Loading...

11.
Downloads 218 (181,991)
Citation 5

Contingent Reserves Management: An Applied Framework

Number of pages: 26 Posted: 24 Sep 2004
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 166 (232,243)

Abstract:

Loading...

Sudden stops, reserves, portfolio, VIX, hedging, options, futures.

Contingent Reserves Management: An Applied Framework

NBER Working Paper No. w10786
Number of pages: 26 Posted: 05 Oct 2004 Last Revised: 23 Dec 2021
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 52 (493,079)

Abstract:

Loading...

12.

A Global Equilibrium Model of Sudden Stops and External Liquidity Management

MIT Department of Economics Working Paper No. 08-05
Number of pages: 54 Posted: 20 Mar 2008
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 203 (194,472)
Citation 17

Abstract:

Loading...

Capital flows, sudden stops, reserves, international liquidity management, world, capital markets, swaps, insurance, hedging, options, hidden states, Bayesian methods

13.

Young, Old, Conservative, and Bold: The Implications of Heterogeneity and Finite Lives for Asset Pricing

Fama-Miller Working Paper , Chicago Booth Research Paper No. 15-36
Number of pages: 38 Posted: 15 Aug 2015
Nicolae Garleanu and Stavros Panageas
University of California, Berkeley - Haas School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 180 (216,475)
Citation 95

Abstract:

Loading...

14.

Hedging Sudden Stops & Precautionary Contractions

MIT Department of Economics Working Paper No. 03-19
Number of pages: 59 Posted: 09 Jun 2003
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 156 (244,325)
Citation 32

Abstract:

Loading...

Capital flows, sudden stops, financial constraints, contractions, hedging, insurance, signals

The Implications of Heterogeneity and Inequality for Asset Pricing

Number of pages: 69 Posted: 13 Dec 2019
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 136 (273,817)

Abstract:

Loading...

Heterogeneous Agents, Heterogeneous preferences, Heterogeneous beliefs, Financial constraints, Incomplete Markets, Overlapping generations

The Implications of Heterogeneity and Inequality for Asset Pricing

NBER Working Paper No. w26974
Number of pages: 73 Posted: 13 Apr 2020 Last Revised: 19 Nov 2021
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 5 (808,027)
Citation 6

Abstract:

Loading...

Pension Design in the Presence of Systemic Risk

Number of pages: 59 Posted: 04 Mar 2010 Last Revised: 30 Dec 2010
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 108 (324,386)

Abstract:

Loading...

Continuous Time Optimization, Life Cycle Savings And Portfolio Choice, Ricardian Equivalence, Borrowing Constraints, Optimal Contracts

Optimal Retirement Benefit Guarantees

NBER Working Paper No. w15805
Number of pages: 53 Posted: 15 Mar 2010 Last Revised: 09 Sep 2021
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 15 (721,300)

Abstract:

Loading...

17.

Impediments to Financial Trade: Theory and Measurement

Fama-Miller Working Paper, Chicago Booth Research Paper No. 15-35
Number of pages: 64 Posted: 15 Aug 2015
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 108 (322,395)

Abstract:

Loading...

Financial frictions, Asset Pricing, Inefficient Markets, Performance Evaluation, Crossborder

18.

What to Expect When Everyone is Expecting: Self-Fulfilling Expectations and Asset-Pricing Puzzles

Number of pages: 46 Posted: 13 Dec 2019
Nicolae Garleanu and Stavros Panageas
University of California, Berkeley - Haas School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 93 (355,545)
Citation 5

Abstract:

Loading...

asset pricing, self-fulfilling expectations, sunspot equilibria, equity premium puzzle, excess volatility puzzle, inequality

19.
Downloads 83 (381,262)
Citation 1

Heterogeneity and Asset Prices: A Different Approach

Number of pages: 61 Posted: 13 Dec 2019
Nicolae Garleanu and Stavros Panageas
University of California, Berkeley - Haas School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 76 (405,637)
Citation 1

Abstract:

Loading...

asset pricing, heterogeneity, imperfect risk sharing, overlapping generations

Heterogeneity and Asset Prices: A Different Approach

NBER Working Paper No. w26607
Number of pages: 62 Posted: 06 Jan 2020 Last Revised: 13 Sep 2021
Nicolae Garleanu and Stavros Panageas
University of California, Berkeley - Haas School of Business and University of California, Los Angeles (UCLA) - Finance Area
Downloads 7 (790,785)

Abstract:

Loading...

An Analytic Framework for Interpreting Investment Regressions in the Presence of Financial Constraints

Number of pages: 56 Posted: 09 Apr 2020
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 54 (484,570)

Abstract:

Loading...

Financial Constraints, Investment, Payout Policy, Investment Cash-flow Sensitivity, Average and Marginal q

An Analytic Framework for Interpreting Investment Regressions in the Presence of Financial Constraints

NBER Working Paper No. w26898
Number of pages: 57 Posted: 30 Mar 2020 Last Revised: 31 Dec 2021
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 7 (790,785)

Abstract:

Loading...

21.

Pension Design in the Presence of Systemic Risk

Fama-Miller Working Paper, Chicago Booth Research Paper No. 15-37
Number of pages: 63 Posted: 19 Aug 2015
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 57 (465,361)
Citation 1

Abstract:

Loading...

Continuous time optimization, Life Cycle savings and portfolio choice, Portfolio insurance, Ricardian Equivalence, Borrowing constraints

22.

Optimal Inattention to the Stock Market with Information Costs and Transactions Costs

NBER Working Paper No. w15010
Number of pages: 41 Posted: 01 Jun 2009 Last Revised: 06 Jan 2022
Andrew B. Abel, Janice C. Eberly and Stavros Panageas
University of Pennsylvania - Finance Department, Northwestern University - Kellogg School of Management and University of California, Los Angeles (UCLA) - Finance Area
Downloads 51 (488,930)
Citation 27

Abstract:

Loading...

A Long and a Short Leg Make For a Wobbly Equilibrium

Number of pages: 72 Posted: 25 Oct 2021
Nicolae Garleanu, Stavros Panageas and Geoffery Zheng
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and New York University (NYU) - New York University (NYU), Shanghai
Downloads 40 (550,348)

Abstract:

Loading...

Asset Pricing with Frictions, Short Selling, Runs, Limits to Arbitrage

A Long and a Short Leg Make for a Wobbly Equilibrium

NBER Working Paper No. w28824
Number of pages: 73 Posted: 24 May 2021 Last Revised: 18 Nov 2021
Nicolae Garleanu, Stavros Panageas and Geoffery Zheng
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and New York University (NYU) - New York University (NYU), Shanghai
Downloads 3 (825,863)
  • Add to Cart

Abstract:

Loading...

24.

Social Distancing, Vaccination and the Paradoxical Optimality of an Endemic Equilibrium

Number of pages: 58 Posted: 21 Apr 2021
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 37 (553,841)
Citation 1

Abstract:

Loading...

Covid, SIR epidemiological model, Vital Dynamics, Endemic Equilibrium, Vaccination, Externalities

25.

Hedging Sudden Stops and Precautionary Contractions

NBER Working Paper No. w9778
Number of pages: 59 Posted: 20 Jul 2006 Last Revised: 20 Sep 2021
Ricardo J. Caballero and Stavros Panageas
Massachusetts Institute of Technology (MIT) - Department of Economics and University of California, Los Angeles (UCLA) - Finance Area
Downloads 37 (553,841)
Citation 3

Abstract:

Loading...

26.

Social Distancing, Vaccination and the Paradoxical Optimality of an Endemic Equilibrium

NBER Working Paper No. w27742
Number of pages: 59 Posted: 31 Aug 2020 Last Revised: 21 Oct 2021
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 31 (586,376)

Abstract:

Loading...

27.

Impediments to Financial Trade: Theory and Applications

NBER Working Paper No. w22697
Number of pages: 45 Posted: 03 Oct 2016 Last Revised: 07 Jan 2022
Nicolae Garleanu, Stavros Panageas and Jianfeng Yu
University of California, Berkeley - Haas School of Business, University of California, Los Angeles (UCLA) - Finance Area and Tsinghua University - PBC School of Finance
Downloads 25 (624,113)
Citation 3

Abstract:

Loading...

28.

Optimal Taxation in the Presence of Bailouts

NBER Working Paper No. w15405
Number of pages: 36 Posted: 13 Oct 2009 Last Revised: 06 Aug 2021
Stavros Panageas
University of California, Los Angeles (UCLA) - Finance Area
Downloads 17 (680,982)

Abstract:

Loading...

29.

Precautionary Saving in a Financially-Constrained Firm

NBER Working Paper No. w26628
Number of pages: 51 Posted: 13 Jan 2020 Last Revised: 07 Oct 2021
Andrew B. Abel and Stavros Panageas
University of Pennsylvania - Finance Department and University of California, Los Angeles (UCLA) - Finance Area
Downloads 10 (735,505)
Citation 1

Abstract:

Loading...

30.

Value Without Employment

NBER Working Paper No. w29414
Number of pages: 81 Posted: 01 Nov 2021 Last Revised: 18 Nov 2021
Simcha Barkai and Stavros Panageas
Boston College and University of California, Los Angeles (UCLA) - Finance Area
Downloads 4 (783,655)
  • Add to Cart

Abstract:

Loading...

Other Papers (1)

Total Downloads: 0
1.

The Demographics of Innovation and Asset Returns

Posted: 17 Aug 2008
Nicolae Garleanu, Leonid Kogan and Stavros Panageas
University of California, Berkeley - Haas School of Business, Massachusetts Institute of Technology (MIT) - Sloan School of Management and University of California, Los Angeles (UCLA) - Finance Area

Abstract:

Loading...