Assistant Professor of Economics and Finance
UC Berkeley
Economics Department
Haas School of Business, Finance Group
Research Statement

Contact Information
Office F653
Haas School of Business
University of California, Berkeley
545 Student Services Building  
Berkeley, CA 94720-1900
Phone: (510) - 642 83 63
Email: sraer@berkeley.edu
Web: http://faculty.haas.berkeley.edu/dsraer/

  1. Performance and Behavior of Family Firms” with D. Thesmar, Journal of the European Economic Association, June 2007, 5(4): 709-751.
  2. “Optimal Dissent in Organizations”, with A. Landier and D. Thesmar, The Review of Economic Studies, 2009, 76, 761-794.
  3. “Individual Investors and Volatility”, with D. Thesmar and T. Foucault, Journal of Finance, 2011, August, 66, 1369-1406.
  4. Growth LBOs”, with Q. Boucly and D. Thesmar, Journal of Financial Economics, 2011, November, 102, 432-453.
  5. The Collateral Channel”, with T. Chaney and D. Thesmar, American Economic Review, 2012, 102, 6: 2381-2409.
  6. Bottom-up Corporate Governance”, with A. Landier, J. Sauvagnat and D. Thesmar, Review of Finance, 2013, 17, 161-201.
  7. “Quiet Bubbles”, with H. Hong, Journal of Financial Economics, 2013, 110, 596-606.

Working Papers:
  1. “Can Unemployment Insurance Spur Entrepreneurial Activity?”, with J. Hombert, A. Schoar and D. Thesmar, Resubmitted at Journal of Political Economy (REVISED)
  2. “Speculative Betas”, with H. Hong, Resubmitted at Journal of Finance (REVISED)
    [For data/replication, click here]
  3. "Inflation Bets on the Long Bond", with H. Hong and J. Yu  R&R at Review of Financial Studies
  4. “Are Retail Traders compensated for Liquidity Provision?”, with J.N. Barrot and R. Kaniel, R&R at Journal of Financial Economics
  5. “Housing Collateral and Entrepreneurship", with M. Schmalz and D. Thesmar, R&R at Journal of Finance
  6. “Banking Integration and House Price Comovement, with A. Landier and D. Thesmar (Submitted)
  7. "Bank Exposure to Interest-Rate Risk and the Transmission of Monetary Policy", with D. Thesmar and A. Landier (Submitted)
  8. “The Risk-Shifting Hypothesis”, with A. Landier and D. Thesmar

Work in Progress (draft/slides available upon request):
  1. “Credit Crunch and the Growth of New Firms”, with J.N. Barrot and D. Thesmar.
  2. “Real Estate Collateral and Labor Demand”, with T. Chaney, Z. Huang and D. Thesmar
  3. “Overnight Volatility”, with A. Landier and J. Sauvagnat.
  4. “Banks Capital Structure and Bond Returns”, with V. Haddad, A. Landier, and D. Thesmar.

Other Publications:
  1. “Entrepreneurship and Credit Constraints: Evidence from a French Loan Guarantee Program” with C.Lelarge and D. Thesmar, NBER volume on “International Differences in Entrepreneurship” edited by J. Lerner and A. Schoar, University of Chicago Press.
  2. “Financial Risk Management: when does Independence fail?”, with A. Landier and D. Thesmar, 2009, American Economic Review Papers and Proceedings, 99(2): 454–58.

  1. EWMBA 236F: Behavioral Finance
  2. UGBA 136F: Behavioral Finance
  3. PHD 297T: Behavioral Finance