Du W., Hébert B., Li W., Intermediary Balance Sheets and the Treasury Yield Curve. Journal of Financial Economics, Volume 150, Issue 3, December 2023, 103722.
- Slides: Intermediary Balance Sheets and Treasury Yield Curve Slides
- Liberty Street Economics (NY Fed) blog post
- Related WSJ article
Hébert B., La’O J., Information Acquisition, Efficiency, and Non-Fundamental Volatility. Journal of Political Economy 131:10, October 2023, Pages 2666-2723.
Dávila E., Hébert B., Optimal Corporate Taxation Under Financial Frictions. The Review of Economic Studies, Volume 90, Issue 4, July 2023, Pages 1893–1933.
Du W., Hébert B., Wang A., Are Intermediary Constraints Priced? The Review of Financial Studies, Volume 36, Issue 4, April 2023, Pages 1464–1507.
- Slides: Are Intermediary Constraints Priced? Slides.
- Note: slides data sample period differs slightly from published version
Hébert B., Woodford M., Rational Inattention when Decisions Take Time. Journal of Economic Theory, 208, March 2023.
- This paper contains our work on rational inattention in dynamic models
- Subsumes part of working papers “Rational Inattention with Sequential Information Sampling”, “Information Costs and Sequential Information Sampling”, and “Rational Inattention in Continuous Time”
- Replication code for figures (.zip): Here
Hébert B., Woodford M., Neighborhood-Based Information Costs. American Economic Review, 111(10), October 2021, Pages 3225-55.
- This paper contains our work on neighborhood-based information costs in static models
- Subsumes part of working papers “Rational Inattention with Sequential Information Sampling” and “Information Costs and Sequential Information Sampling”
Hartman-Glaser, B., Hébert B., The Insurance is the Lemon: Failing to Index Contracts. The Journal of Finance, 75, February 2020, Pages 463-506.
- Slides (slightly outdated): The Insurance is the Lemon Slides
- Non-technical summary: Why Aren’t Mortgages Indexed to House Prices?
Hébert, Benjamin. Moral Hazard and the Optimality of Debt. The Review of Economic Studies, Volume 85(4): 2214–2252, October 1, 2018.
- Slides: Moral Hazard and the Optimality of Debt Presentation Slides
- Errata: Correction of an equation in Appendix C (Calibration), calibrationerrata.pdf
Hébert, Benjamin, and Jesse Schreger. The Costs of Sovereign Default: Evidence from Argentina. American Economic Review, 107(10), October 2017, Pages 3119-45.
- Online Appendix: The Costs of Sovereign Default: Evidence from Argentina
- Slides: Costs of Sovereign Default Slides
A review article by several co-authors that incorporates “Most Reported Genetic Associations With General Intelligence Are Probably False Positives.”
Chabris CF, Hébert B, Benjamin DJ, Beauchamp J, Cesarini D, van der Loos M, Johannesson M, Magnusson PKE, Lichtenstein P, Atwood CS, et al. Most Reported Genetic Associations With General Intelligence Are Probably False Positives. Psychological Science. 2012.
Fuster A, Hébert B, Laibson D. Investment Dynamics with Natural Expectations. International Journal of Central Banking. 2012.
Part of a conference in honor of Ben Friedman.
Fuster A, Hébert B, Laibson D. Natural Expectations, Macroeconomic Dynamics, and Asset Pricing. NBER Macroeconomics Annual. 2011.
Working Papers
Hébert B., Externalities as Arbitrage (New Version: February 2023)
Hébert B., Zhong W., Engagement Maximization (New Paper, July 2022)
- Slides: Engagement Maximization Slides
Di Tella S., Hébert B., Kurlat P., Wang Q., The Zero-Beta Interest Rate (Revise and Re-submit, Journal of Political Economy. Latest version: January 2024)
- Slides: The Zero-Beta Interest Rate Slides (March 2023)
Di Tella S., Hébert B., Kurlat P., Aggregation, Liquidity, and Asset Prices with Incomplete Markets (New Paper. Latest version: March 2024)