Jianjun Miao

Boston University - Department of Economics

Assistant Professor

270 Bay State Road

Boston, MA 02215

United States

http://people.bu.edu/miaoj

SCHOLARLY PAPERS

40

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CITATIONS
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377

Scholarly Papers (40)

1.

Capital Structure, Credit Risk, and Macroeconomic Conditions

Simon School of Business Working Paper No. FR 03-10
Number of pages: 40 Posted: 23 Apr 2003
Jianjun Miao, Dirk Hackbarth and Erwan Morellec
Boston University - Department of Economics, Boston University Questrom School of Business and Ecole Polytechnique Fédérale de Lausanne
Downloads 1,930 (5,340)
Citation 76

Abstract:

Dynamic Capital Structure, Credit Spreads, Macroeconomic Conditions

2.

The Dynamics of Mergers and Acquisitions in Oligopolistic Industries

Journal of Economic Dynamics and Control, Forthcoming, EFA 2007 Ljubljana Meetings Paper
Number of pages: 48 Posted: 05 Mar 2008 Last Revised: 15 Feb 2012
Jianjun Miao and Dirk Hackbarth
Boston University - Department of Economics and Boston University Questrom School of Business
Downloads 889 (18,642)
Citation 7

Abstract:

anticompetitive effect, industry structure, real options, takeovers

3.
Downloads 737 ( 25,672)
Citation 1

CEO Power, Compensation, and Governance

Annals of Economics and Finance Vol. 14, 2013
Number of pages: 38 Posted: 08 Aug 2006 Last Revised: 29 Dec 2014
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 697 (27,322)
Citation 1

Abstract:

CEO power, moral hazard, CEO compensation, corporate governance, investor protection

CEO Power, Compensation and Governance

CEPR Discussion Paper No. 5818
Number of pages: 40 Posted: 13 Oct 2006
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 40 (352,375)
Citation 1
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Abstract:

CEO power, moral hazard, CEO compensation, investor protection

4.
Downloads 656 ( 30,224)
Citation 13

Entrepreneurial Finance and Nondiversifiable Risk

Review of Financial Studies, Forthcoming
Number of pages: 64 Posted: 27 Mar 2009 Last Revised: 07 Jul 2010
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 613 (32,638)
Citation 13

Abstract:

default, diversification benefits, entrepreneurial risk aversion, incomplete markets, idiosyncratic risk premium, hedging, capital structure, cash-out option, precautionary saving

Entrepreneurial Finance and Non-Diversifiable Risk

NBER Working Paper No. w14848
Number of pages: 45 Posted: 07 Apr 2009
Hui Chen, Jianjun Miao and Neng Wang
Massachusetts Institute of Technology, Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 43 (342,232)
Citation 13

Abstract:

5.

Managerial Preferences, Corporate Governance, and Financial Structure

Number of pages: 46 Posted: 17 Mar 2006
Hong Liu and Jianjun Miao
Washington University in St. Louis - Olin Business School and Boston University - Department of Economics
Downloads 601 (32,064)
Citation 2

Abstract:

Managerial/entrepreneurial characteristics, ownership and capital structure, private benefits of control, corporate governance

6.

Ambiguity, Learning, and Asset Returns

AFA 2009 San Francisco Meetings Paper
Number of pages: 35 Posted: 26 Sep 2007 Last Revised: 29 Dec 2009
Nengjiu Ju and Jianjun Miao
Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Boston University - Department of Economics
Downloads 573 (34,839)
Citation 32

Abstract:

ambiguity aversion, learning, pessimism, asset pricing puzzles

7.

Dynamic Asset Allocation with Ambiguous Return Predictability

AFA 2010 Atlanta Meetings Paper
Number of pages: 46 Posted: 02 Mar 2009 Last Revised: 14 Apr 2011
Hui Chen, Nengjiu Ju and Jianjun Miao
Massachusetts Institute of Technology, Shanghai Jiao Tong University (SJTU) - Shanghai Advanced Institute of Finance (SAIF) and Boston University - Department of Economics
Downloads 558 (30,663)
Citation 15

Abstract:

generalized recursive ambiguity utility, ambiguity aversion, model uncertainty, learning, portfolio choice, robustness, return predictability

8.
Downloads 512 ( 41,927)
Citation 45

Optimal Capital Structure and Industry Dynamics

Number of pages: 46 Posted: 21 Oct 2003
Jianjun Miao
Boston University - Department of Economics
Downloads 512 (41,406)
Citation 45

Abstract:

Optimal Capital Structure and Industry Dynamics

Journal of Finance, Forthcoming
Posted: 24 Jan 2005
Jianjun Miao
Boston University - Department of Economics

Abstract:

9.
Downloads 428 ( 52,433)
Citation 2

Ambiguity Aversion and Variance Premium

Number of pages: 41 Posted: 17 Mar 2012 Last Revised: 16 May 2012
Jianjun Miao, Bin Wei and Hao Zhou
Boston University - Department of Economics, Federal Reserve Bank of Atlanta and Tsinghua University - PBC School of Finance
Downloads 241 (100,258)
Citation 2

Abstract:

Ambiguity aversion, learning, variance premium, regime-shift, belief distortion, return predictability

Ambiguity Aversion and Variance Premium

Number of pages: 41 Posted: 28 Mar 2012
Jianjun Miao, Bin Wei and Hao Zhou
Boston University - Department of Economics, Federal Reserve Bank of Atlanta and Tsinghua University - PBC School of Finance
Downloads 187 (128,848)
Citation 2

Abstract:

Ambiguity aversion, learning, variance premium, regime-shift, belief distortion

10.
Downloads 296 ( 80,628)
Citation 7

Risk, Uncertainty, and Option Exercise

Number of pages: 36 Posted: 15 Oct 2004
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 262 (91,774)
Citation 7

Abstract:

Ambiguity, multiple-priors utility, real options, optimal stopping problem

Risk, Uncertainty, and Option Exercise

Journal of Economic Dynamics & Control, Vol. 35, pp. 442-461, 2004
Number of pages: 30 Posted: 26 Oct 2011
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 34 (374,795)
Citation 7

Abstract:

11.

Irreversible Investment with Regime Shifts

Simon School of Business Working Paper No. FR 02-20
Number of pages: 32 Posted: 03 Dec 2002
Xin Guo, Jianjun Miao and Erwan Morellec
affiliation not provided to SSRN, Boston University - Department of Economics and Ecole Polytechnique Fédérale de Lausanne
Downloads 282 (84,185)
Citation 36

Abstract:

Investment, Capacity Choice, Regime Shifts, Real Options

12.

Learning, Investment, and Entrepreneurial Survival: A Real Options Approach

Number of pages: 35 Posted: 17 Mar 2006
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 277 (80,325)
Citation 2

Abstract:

real options, learning, private firm value, survival, precautionary savings, incomplete markets

Investment, Consumption and Hedging under Incomplete Markets

Number of pages: 42 Posted: 04 Aug 2005
Jianjun Miao and Neng Wang
Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 221 (109,522)
Citation 34

Abstract:

real options, idiosyncratic risk, hedging, risk aversion, precautionary saving, incomplete markets

Investment, Consumption, and Hedging Under Incomplete Markets

NBER Working Paper No. w13250
Number of pages: 47 Posted: 13 Jul 2007
Neng Wang and Jianjun Miao
Columbia Business School - Finance and Economics and Boston University - Department of Economics
Downloads 33 (378,767)
Citation 34

Abstract:

14.
Downloads 236 (102,927)
Citation 4

Credit Risk and Business Cycles

Number of pages: 48 Posted: 11 Nov 2010
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 149 (158,049)
Citation 4

Abstract:

credit risk, credit spread, dynamic capital structure, equity premium, business cycles, investment, q-theory

Credit Risk and Business Cycles

Number of pages: 48 Posted: 09 Mar 2011
Pengfei Wang and Jianjun Miao
HKUST, Department of Economics and Boston University - Department of Economics
Downloads 87 (236,157)
Citation 4

Abstract:

Credit Risk, Credit Spread, Dynamic Capital Structure, Equity Premium, Business Cycles

15.
Downloads 236 (103,375)
Citation 7

Bubbles and Credit Constraints

Number of pages: 37 Posted: 07 Mar 2011
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 200 (121,479)
Citation 7

Abstract:

Bubbles, Collateral Constraints, Credit Policy, Asset Price, Arbitrage, Q Theory, Liquidity

Bubbles and Credit Constraints

Number of pages: 37 Posted: 07 Mar 2011
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and affiliation not provided to SSRN
Downloads 36 (367,062)
Citation 7

Abstract:

Bubbles, Collateral Constraints, Credit Policy, Asset Price, Arbitrage, Q Theory, Liquidity

16.

Dynamic Effects of Permanent and Temporary Dividend Tax Policies on Corporate Investment and Financial Policies

Number of pages: 41 Posted: 10 Oct 2007
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 207 (112,459)
Citation 3

Abstract:

dividend tax policies, investment and financial policies, finance regimes, collateral constraint, intertemporal tax arbitrage

17.
Downloads 181 (133,066)
Citation 6

Advance Information and Asset Prices

Journal of Economic Theory, Vol. 149, 2014
Number of pages: 55 Posted: 24 Feb 2008 Last Revised: 20 Aug 2015
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 178 (134,967)
Citation 6

Abstract:

advance information, rational expectations equilibrium, momentum and reversal effects

Advance Information and Asset Prices

CEPR Discussion Paper No. DP6588
Number of pages: 60 Posted: 09 Jun 2008
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 3 (537,128)
Citation 6
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Abstract:

advance information, momentum and reversal effects, overreaction, rational expectations equilibrium, underreaction

18.

Monetary Policy and Economic Growth Under Money Illusion

Number of pages: 40 Posted: 16 Oct 2007
Danyang Xie and Jianjun Miao
Hong Kong University of Science & Technology (HKUST) - Department of Economics and Boston University - Department of Economics
Downloads 179 (127,097)
Citation 2

Abstract:

money illusion, inflation, growth, welfare cost, behavioral macroeconomics

19.

Investment, Hedging, and Consumption Smoothing

Simon School Working Paper No. FR 04-15
Number of pages: 47 Posted: 19 Jul 2004
Jianjun Miao and Neng Wang
Boston University - Department of Economics and Columbia Business School - Finance and Economics
Downloads 147 (154,217)
Citation 33

Abstract:

Real options, risk aversion, incomplete markets, hedging, precautionary saving

20.
Downloads 111 (198,595)
Citation 1

Option Exercise with Temptation

Number of pages: 33 Posted: 15 Sep 2004
Jianjun Miao
Boston University - Department of Economics
Downloads 85 (239,609)
Citation 1

Abstract:

Option Exercise With Temptation

Economic Theory, 2006
Number of pages: 29 Posted: 04 Mar 2007
Jianjun Miao
Boston University - Department of Economics
Downloads 26 (410,688)
Citation 1

Abstract:

time (in)consistencey, self-control, temptation, procrastination, preproperation, option value

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform

Number of pages: 44 Posted: 12 Nov 2006
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 96 (221,212)
Citation 6

Abstract:

firm heterogeneity, general equilibrium, finance regime, the new and tranditional veiws of dividend taxation

Firm Heterogeneity and the Long-Run Effects of Dividend Tax Reform

NBER Working Paper No. w15044
Number of pages: 50 Posted: 08 Jun 2009
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 10 (500,811)
Citation 6

Abstract:

22.

Stock Market Bubbles and Unemployment

Number of pages: 46 Posted: 10 Apr 2012
Jianjun Miao, Pengfei Wang and Lifang Xu
Boston University - Department of Economics, HKUST, Department of Economics and Shanghai University of Finance and Economics
Downloads 101 (192,226)
Citation 2

Abstract:

stock market bubbles, unemployment, self-fulfilling beliefs, credit constraints, multiple equilibria, search and matching

23.

Banking Bubbles and Financial Crisis

Number of pages: 33 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 96 (205,264)
Citation 5

Abstract:

Banking Bubble, Multiple Equilibria, Financial Crisis, Self-fulfilling Prophecy, Credit Policy, Capital Requirements, Borrowing Constraints

24.

Sectoral Bubbles and Endogenous Growth

Number of pages: 36 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 76 (209,535)
Citation 2

Abstract:

Bubbles, Collateral Constraints, Externality, Economic Growth, Capital Reallocation, Multiple Equilibria

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

Federal Reserve Bank of St. Louis Working Paper No. 2011-018B
Number of pages: 54 Posted: 15 Apr 2009 Last Revised: 02 Jun 2011
Purdue University - Department of Economics, Boston University - Department of Economics, Federal Reserve Bank of St. Louis and University of Miami - School of Business Administration - Department of Economics
Downloads 65 (280,976)
Citation 5

Abstract:

Heterogeneous agents, taxes, externalities, financial frictions, competitive equilibrium, computation, simulation

Numerical Simulation of Nonoptimal Dynamic Equilibrium Models

International Economic Review, Vol. 55, Issue 1, pp. 83-110, 2014
Number of pages: 28 Posted: 25 Jan 2014
Purdue University - Department of Economics, Boston University - Department of Economics, Federal Reserve Bank of St. Louis and University of Miami - School of Business Administration - Department of Economics
Downloads 0
Citation 4
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Abstract:

26.

A Search Model of Centralized and Decentralized Trade

Number of pages: 38 Posted: 18 Oct 2004
Jianjun Miao
Boston University - Department of Economics
Downloads 58 (277,615)
Citation 10

Abstract:

Search, matching and bargaining, bid-ask spread, liquidity, welfare, Walrasian equilibrium

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Number of pages: 35 Posted: 10 Nov 2003
Jianjun Miao
Boston University - Department of Economics
Downloads 58 (298,106)
Citation 13

Abstract:

competitive equilibrium, recursive equilibrium, aggregate distribution, heterogeneity, incomplete markets, aggregate shocks

Competitive Equilibria of Economies with a Continuum of Consumers and Aggregate Shocks

Journal of Economic Theory, Forthcoming
Posted: 24 Jan 2005
Jianjun Miao
Boston University - Department of Economics

Abstract:

28.

Does Lumpy Investment Matter for Business Cycles?

Number of pages: 46 Posted: 24 Apr 2009
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 35 (352,087)
Citation 1

Abstract:

generalized (S,s) rule, lumpy investment, general equilibrium, business cycles, marginal Q, exact irrelevance proposition

29.

Bubbles and Total Factor Productivity

American Economic Review, Forthcoming
Number of pages: 6 Posted: 09 Apr 2012
Jianjun Miao and Pengfei Wang
Boston University - Department of Economics and HKUST, Department of Economics
Downloads 32 (332,818)
Citation 3

Abstract:

Liquidity Premia, Price-Rent Dynamics, and Business Cycles

FRB Atlanta Working Paper No. 2014-15
Number of pages: 54 Posted: 04 Apr 2015
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 14 (477,989)

Abstract:

asset pricing, financial frictions, working capital, cutoff productivity, heterogeneous firms, endogenous TFP, house price, liquidity constraint

Liquidity Premia, Price-Rent Dynamics, and Business Cycles

NBER Working Paper No. w20377
Number of pages: 55 Posted: 18 Aug 2014
Jianjun Miao, Pengfei Wang and Tao A. Zha
Boston University - Department of Economics, HKUST, Department of Economics and Federal Reserve Bank of Atlanta
Downloads 4 (532,127)
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Abstract:

31.

Land Prices and Unemployment

FRB Atlanta Working Paper No. 2013-6
Number of pages: 45 Posted: 22 Mar 2015
Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 12 (444,354)

Abstract:

Housing and labor markets, volatility, match value of employment, marginal utility of consumption, credit channel, labor channel

32.

What Does the Corporate Income Tax Tax? A Simple Model Without Capital

NBER Working Paper No. w16199
Number of pages: 21 Posted: 19 Jul 2010
Laurence J. Kotlikoff and Jianjun Miao
Boston University - Department of Economics and Boston University - Department of Economics
Downloads 10 (459,643)
Citation 1

Abstract:

33.

Transitional Dynamics of Dividend and Capital Gains Tax Cuts

NBER Working Paper No. w16157
Number of pages: 34 Posted: 12 Jul 2010
Francois Gourio and Jianjun Miao
Federal Reserve Bank of Chicago and Boston University - Department of Economics
Downloads 7 (489,918)
Citation 1

Abstract:

34.

Land Prices and Unemployment

NBER Working Paper No. w19382
Number of pages: 46 Posted: 30 Aug 2013
Zheng Liu, Zheng Liu, Jianjun Miao and Tao A. Zha
Federal Reserve Banks - Federal Reserve Bank of San Francisco, Federal Reserve Banks - Federal Reserve Bank of San Francisco, Boston University - Department of Economics and Federal Reserve Bank of Atlanta
Downloads 1 (517,568)

Abstract:

35.

Oil Prices and the Cross-Section of Stock Returns

Number of pages: 48 Posted: 04 Oct 2016
Dayong Huang and Jianjun Miao
University of North Carolina (UNC) at Greensboro - Bryan School of Business & Economics and Boston University - Department of Economics
Downloads 0 (246,802)

Abstract:

oil prices, return spread, cross section, factor model

36.

Saving China's Stock Market

Number of pages: 40 Posted: 13 Aug 2016
Yi Huang, Jianjun Miao and Pengfei Wang
Graduate Institute of International and Development Studies, Boston University - Department of Economics and HKUST, Department of Economics
Downloads 0 (235,966)

Abstract:

China, Stock Market Crash, Government intervention

37.

Intertemporal Substitution and Recursive Smooth Ambiguity Preferences

Posted: 07 Feb 2010
Takashi Hayashi and Jianjun Miao
University of Texas at Austin and Boston University - Department of Economics

Abstract:

Ambiguity, Ambiguity Aversion, Risk Aversion, Intertemporal Substitution, Model Uncertainty, Recursive Utility

38.

Lumpy Investment and Corporate Tax Policy

Posted: 07 Feb 2010
Pengfei Wang and Jianjun Miao
HKUST, Department of Economics and Boston University - Department of Economics

Abstract:

generalized (S,s) rule, lumpy investment, general equilibrium, marginal Q, tax policy, adjustment costs

39.

Informed Trading when Information Becomes Stale

Journal of Finance, Vol. 59, pp. 339-390, 2004
Posted: 27 Oct 2004
Dan Bernhardt and Jianjun Miao
University of Illinois at Urbana-Champaign - Department of Economics and Boston University - Department of Economics

Abstract:

40.

A Two-Person Dynamic Equilibrium under Ambiguity

Journal of Economic Dynamics and Control, Vol. 27, pp. 1253-1288, 2003
Posted: 27 Oct 2004
Larry G. Epstein and Jianjun Miao
University of Rochester - Department of Economics and Boston University - Department of Economics

Abstract:

Other Papers (1)

Total Downloads: 98    Citations: 6
1.

Advance Information and Asset Prices

Number of pages: 59 Posted: 24 Feb 2008 Last Revised: 25 Sep 2012
Rui A. Albuquerque and Jianjun Miao
Boston College, Carroll School of Management and Boston University - Department of Economics
Downloads 0 (133,066)
Citation 6

Abstract:

advance information, momentum and reversal effects, rational expectations equilibrium