Publications

Influential research by members of the Paul Woolley Centre has been published in some of the most recognised international journals in the field. 

Below is a collection of notable papers published in the Journal of Finance, Review of Financial Studies, Journal of Financial Economics, American Economic Review, Journal of Political Economy, Quarterly Journal of Economics, Econometrica, and Review of Economic Studies.

2018

• Denis Gromb and Dimitri Vayanos (2018), The Dynamics of Financially Constrained Arbitrage. Journal of Finance. doi: 10.1111/jofi.12689
• Hao Jiang and Michela Verardo (2018), Does Herding Behavior Reveal Skill? An Analysis of Mutual Fund Performance. Journal of Finance, 73 (5), 2229-2269
• Ana Babus and Peter Kondor (2018). Trading and Information Diffusion in Over-the-Counter Markets. Econometrica, 86 (5), 1727-1769

2017

• Emre Ozdenoren and Kathy Yuan (2017), Contextual Externalities and Systemic Risk. The Review of Economic Studies, 84 (4): 1789-1817. doi: 10.1093/restud/rdw058
• Martin Oehmke and Adam Zawadowski (2017), The Anatomy of the CDS Market. Review of Financial Studies, 30 (1): 80-119. doi: 10.1093/rfs/hhw068
• Ian Martin (2017), What is the Expected Return on the Market?, The Quarterly Journal of Economics, 132 (1), 367-433. doi: 10.1093/qje/qjw034

2016

• Huaizhi Chen, Lauren Cohen and Dong Lou (2016), Industry Window Dressing, Review of Financial Studies, 29 (12): 3354-3393. doi: 10.1093/rfs/hhw020
• Konstantinos E. Zachariadis, Ioan F. Olaru (2016) The Impact of Security Trading on Corporate Restructurings. Review of Finance, rfw019. doi: 10.1093/rof/rfw019
• Dragana Cvijanović, Amil Dasgupta and Konstantinos Zachariadis (2016) Ties that Bind: How Business Connections Affect Mutual Fund Activism, Journal of Finance, 71(6), 2933-2966. doi: 10.1111/jofi.12425
• Brunnermeier, Markus K., Luis Garicano, Philip R. Lane, Marco Pagano, Ricardo Reis, Tano Santos, David Thesmar, Stijn Van Nieuwerburgh and Dimitri Vayanos (2016), The Sovereign-Bank Diabolic Loop and ESBies, American Economic Review, 106(5): 508-12
• Aytek Malkhozov, Philippe Mueller, Andrea Vedolin and Gyuri Venter (2016), Mortgage Risk and the Yield Curve. Review of Financial Studies, 29 (5), 1220-1253
• Zhiguo He and Peter Kondor (2016), Inefficient Investment Waves, Econometrica, 84 (2), 735-780

2015

• Chabakauri, G., (2015), Asset Pricing with Heterogeneous Preferences, Beliefs, and Portfolio Constraints, Journal of Monetary Economics  75, 21-34
• Konstantin Milbradt and Martin Oehmke (2015), Maturity rationing and collective short-termism. Journal of Financial Economics, 118 (3): 553-570
• Dasgupta, A. and Piacentino, G. (2015), The Wall Street Walk when Blockholders Compete for Flows. The Journal Of Finance, 70 (6): 2853–2896. doi:10.1111/jofi.12308
• Bolton, P. and Oehmke, M. (2015), Should Derivatives Be Privileged in Bankruptcy?. The Journal Of Finance, 70 (6): 2353–2394. doi:10.1111/jofi.12201
• Oehmke, Martin and Adam Zawadowski (2015), Synthetic or Real? The Equilibrium Effects of Credit Default Swaps on Bond Markets. Review of Financial Studies, 28 (12): 3303-3337. doi:10.1093/rfs/hhv047
• Bruno Biais, Jean-Charles Rochet, and Paul Woolley (2015), Dynamics of Innovation and Risk. Review of Financial Studies, 28 (5): 1353-1380. doi: 10.1093/rfs/hhv003
• Makarov, I. and Plantin, G. (2015), Rewarding Trading Skills without Inducing Gambling. The Journal of Finance, 70 (3): 925–962. doi:10.1111/jofi.12257

2014

• Greenwood, Robin and Vayanos, Dimitri (2014) Bond supply and excess bond returns. Review of Financial Studies, 27 (3). pp. 663-713. ISSN 0893-9454
• Lou, Dong (2014) Attracting investor attention through advertising. Review of Financial Studies, 27 (6). pp. 1797-1829. ISSN 0893-9454 
• Polk, Christopher and Anton, Miguel (2014) Connected stocks. The Journal of Finance, 69 (3). pp. 1099-1127. ISSN 0022-1082 

2013

• Chabakauri, Georgy (2013) Dynamic equilibrium with two stocks, heterogeneous investors, and portfolio constraints. Review of Financial Studies, 26 (12). pp. 3104-3141. ISSN 0893-9454
• Market Liquidity: Theory and Empirical Evidence, in George Constantinides, Milton Harris, and Rene Stulz, eds.: Handbook of the Economics of Finance, 2013, Chapter 19 
• Chernov, Mikhail, Gorbenko, Alexander S. and Makarov, Igor (2013) CDS auctions. Review of Financial Studies, 26 (3). pp. 768-805. ISSN 0893-9454 
• Goldstein, Itay, Ozdenoren, Emre and Yuan, Kathy (2013) Trading frenzies and their impact on real investment. Journal of Financial Economics, 109 (2). pp. 566-582. ISSN 0304-405X 
• Guibaud, Stéphane, Nosbusch, Yves and Vayanos, Dimitri (2013) Bond market clienteles, the yield curve, and the optimal maturity structure of government debt. Review of Financial Studies, 26 (8). pp. 1914-1961. ISSN 0893-9454 
• Lou, Dong, Yan, Hongjun and Zhang, Jinfan (2013) Anticipated and repeated shocks in liquid markets. Review of Financial Studies, 26 (8). pp. 1891-1912. ISSN 0893-9454.  Winner of NASDAQ OMX Award for Best Paper on Asset Pricing, Western Finance Association, 2011
• Vayanos, Dimitri and Woolley, Paul (2013) An institutional theory of momentum and reversal. Review of Financial Studies, 26 (5). pp. 1087-1145. ISSN 0893-9454 

2012

• Basak, Suleyman and Chabakauri, Georgy (2012) Dynamic hedging in incomplete markets: a simple solution. Review of Financial Studies, 25 (6). pp. 1845-1896. ISSN 0893-9454
• Cohen, Lauren and Lou, Dong (2012) Complicated firms. Journal of Financial Economics, 104 (2). pp. 383-400. ISSN 0304-405X
  • Winner of First Prize, Crowell Memorial Award for Best Paper in Quantitative Investments, 2011
  • Winner of Best Paper Prize, the Center for Research in Security Prices (CRSP) Forum, 2010
  • Winner of Institute for Quantitative Investment Research (INQUIRE UK) Grant, 2010
  • Winner of First Prize, Istanbul Stock Exchange 25th Anniversary Best Paper Competition, 2010
  • Winner of Paul Woolley Center (UTS) Academic Grant, 2010
• Lou, Dong (2012) A flow-based explanation for return predictability. Review of Financial Studies, 25 (12). pp. 3457-3489. ISSN 0893-9454 
• Vayanos, Dimitri and Wang, Jiang (2012) Liquidity and asset returns under asymmetric information and imperfect competition. Review of Financial Studies, 25 (5). pp. 1339-1365. ISSN 0893-9454 

2011

• Amil Dasgupta, Andrea Prat and Michela Verardo (2011) The Price Impact of Institutional Herding, Review of Financial Studies, 24 (3), 892-925 
• Dasgupta, Amil, Prat, Andrea and Verardo, Michela (2011) Institutional trade persistence and long-term equity returns. The Journal of Finance, 66 (2). pp. 635-653. ISSN 0022-1082 

The latest research from Paul Woolley Centre members is made available in our working papers collection. This cutting edge work is free to download, and designed to inspire scholarly debate. As well as the latest works, previous papers are archived by year.

2018

• Trading and Arbitrage in Cryptocurrency Markets
  Igor Makarov and Antoinette Schoar
  The Paul Woolley Centre Paper Series No 63, December 2018
• Heterogeneous Global Cycles
  Maryam Farboodi and Peter Kondor
  The Paul Woolley Centre Paper Series No 62, December 2018
• Turning Alphas into Betas: Arbitrage and the Cross-section of Risk
  Thummim Cho
  The Paul Woolley Centre Paper Series No 61, November 2018
• Investor Protection and Asset Prices
  Suleyman Basak, Georgy Chabakauri, M. Deniz Yavuz
  The Paul Woolley Centre Paper Series No 60, October 2018
• Bank Resolution and the Structure of Global Banks
  Patrick Bolton and Martin Oehmke
  The Paul Woolley Centre Paper Series No 59, April 2018
• Financial Markets where Traders Neglect the Informational Content of Prices
  Erik Eyster, Matthew Rabin and Dimitri Vayanos
  The Paul Woolley Centre Paper Series No 58, April 2018
• Trading and Information Diffusion in Over-the-Counter Markets
  Ana Babus and Peter Kondor
  The Paul Woolley Centre Paper Series No 57, April 2018 [see also Trading and Information Diffusion in Over-the-Counter Markets. Econometrica (2018), 86 (5), 1727-1769.]
• The Effect of Superstar Firms on College Major Choice
  Darwin Choi, Dong Lou and Abhiroop Mukherjee
  The Paul Woolley Centre Paper Series No 56, April 2018

2017

• Capital Requirements and Asset Prices
  Georgy Chabakauri and Brandon Yueyang Han
  The Paul Woolley Centre Paper Series No 55, January 2017
  • European Finance Association Best Conference Paper Award
  • SFS Finance Cavalcade Best Paper Award in Asset Pricing
  • European Winter Finance Symposium Best Paper Prize in Memory of S. Bhattacharya
    
    
• Financial Choice and Financial Information
  Peter Kondor and Botond Koszegi
  The Paul Woolley Centre Paper Series No 54, May 2017
• The Quanto Theory of Exchange Rates
  Ian Martin and Lukas Kremens
  The Paul Woolley Centre Paper Series No 53, July 2017

2016

• The Anatomy of the CDS Market
  Martin Oehmke and Adam Zawadowski
  The Paul Woolley Centre Paper Series No 52, July 2016
  [see also The Anatomy of the CDS Market, Review of Financial Studies (2017) 30 (1): 80-119]
• Learning in Crowded Markets
  Peter Kondor and Adam Zawadowski
  The Paul Woolley Centre Paper Series No 51, May 2016

2015

• What is the Expected Return on the Market?
  Ian Martin
  The Paul Woolley Centre Paper Series No 50, October 2015
  [see also What is the Expected Return on the Market?, Quarterly Journal of Economics (2017), 132 (1), 367-433. doi: 10.1093/qje/qjw034]
• Multi-Asset Noisy Rational Expectations Equilibrium with Contingent Claims
  Georgy Chabakauri, Kathy Yuan and Konstantinos Zachariadis
  The Paul Woolley Centre Paper Series No 49, June 2015
• A Tug of War: Overnight Versus Intraday Expected Returns
  Dong Lou, Christopher Polk and Spyros Skouras
  The Paul Woolley Centre Paper Series No 48, June 2015
• The Booms and Busts of Beta Arbitrage
  Dong Lou, Christopher Polk, Shiyang Huang
  The Paul Woolley Centre Paper Series No 47, June 2015
  • Winner of Quantitative Management Initiative (QMI) Grant, 2013
  • Winner of Europlace Institute of Finance Research Grant, 2013
• Wolf Pack Activism
  Amil Dasgupta, Alon Brav and Richmond Mathews
  The Paul Woolley Centre Paper Series No 46, March 2015
• The Dynamics of Financially Constrained Arbitrage
  Dimitri Vayanos and Denis Gromb
  The Paul Woolley Centre Paper Series No 45, February 2015 [See also The Dynamics of Financially Constrained Arbitrage, Journal of Finance (2018)]
• Information Asymmetries, Volatility, Liquidity, and the Tobin Tax
  Christian Julliard and Albina Danilova
  The Paul Woolley Centre Paper Series No 44, February 2015

2014

• Offsetting Disagreement and Security Prices
  Dong Lou, Byoung-Hyoun Hwang and Chengxi Yin
  The Paul Woolley Centre Paper Series No 43, December 2014
• Playing Favorites: How Firms Prevent the Revelation of Bad News
  Dong Lou, Lauren Cohen and Christopher Malloy
  The Paul Woolley Centre Paper Series No 42, December 2014
  • Winner of First Prize, Crowell Memorial Award for Best Paper in Quantitative Investments, 2014
• Asset Management Contracts and Equilibrium Prices
  Andrea Buffa, Dimitri Vayanos and Paul Woolley
  The Paul Woolley Centre Paper Series No 41,
  FMG Discussion Paper 736, October 2014
  • Winner of the best paper award in Asset Pricing in the SFS Cavalcade 2015
• Activist Funds, Leverage, and Procyclicality
  Mike Burkart and Amil Dasgupta
  The Paul Woolley Centre Paper Series No 40,
  FMG Discussion Paper 733, April 2014
• Ties that bind: How business connections affect mutual fund activism
  Dragana Cvijanović, Amil Dasgupta and Konstantinos Zachariadis 
  The Paul Woolley Centre Paper Series No 39, 
  FMG Discussion Paper 731, April 2014  [see also Ties that Bind: How Business Connections Affect Mutual Fund Activism (2016), Journal of Finance, 71(6), 2933-2966]
• Liquidity Risk and the Dynamics of Arbitrage Capital
  Péter Kondor and Dimitri Vayanos
  The Paul Woolley Centre Paper Series No 38, 
  FMG Discussion Paper 730, February 2014

2013

• Mortgage Hedging in Fixed Income Markets
  Aytek Malkhozov, Philippe Mueller,  Andrea Vedolin & Gyuri Venter
  The Paul Woolley Centre Paper Series No 37, 
  FMG Discussion Paper 722, June 2013
  [see also Mortgage Risk and the Yield Curve (2016), Review of Financial Studies]
• Comomentum: Inferring Arbitrage Activity from Return Correlations
  Dong Lou and Christopher Polk 
  The Paul Woolley Centre Paper Series No 36, 
  FMG Discussion Paper 721, April 2013
  • AQR Insight Award Honorable Mention (2014)
  • Fiduciary Investor Thinktank (2014)
  • Winner of Institute for Quantitative Investment Research (Q Group) Grant (2012)
  • Winner of Institute for Quantitative Investment Research (INQUIRE Europe) Grant (2012)
• Does herding behavior reveal skill? An analysis of mutual fund performance
  Hao Jiang and Michela Verardo
  The Paul Woolley Centre Paper Series No 35,
  FMG Discussion Paper 720, March 2013 [see also Does herding behavior reveal skill? An analysis of mutual fund performance. Journal of Finance (2018), 73 (5), 2229-2269]
• Industry Window Dressing
  Huaizhi Chen, Lauren Cohen & Dong Lou
  The Paul Woolley Centre Paper Series No 34,
  FMG Discussion Paper 719, Feb 2013 [see also Industry Window Dressing, Review of Financial Studies, 29 (12): 3354-3393]
• Cross-Market Timing in Security Issuance
  Pengjie Gao and Dong Lou
  The Paul Woolley Centre Paper Series No 33, 
  FMG Discussion Paper 718, Feb 2013

2012-2008

• Market Liquidity - Theory and Empirical Evidence
  Dimitri Vayanos, Jiang Wang 
  The Paul Woolley Centre Paper Series No 32, 
  FMG Discussion Paper 709, July 2012
  [see also Market Liquidity: Theory and Empirical Evidence, in George Constantinides, Milton Harris, and Rene Stulz, eds.: Handbook of the Economics of Finance, 2013, Chapter 19]
• Liquidity and Asset Returns under Asymmetric Information and Imperfect Competition
  Dimitri Vayanos, Jiang Wang
  The Paul Woolley Centre Paper Series No 31, 
  FMG Discussion Paper 708, July 2012 [see also Liquidity and asset returns under asymmetric information and imperfect competition (2012), Review of Financial Studies, 25 (5)]
• Asset Pricing with Heterogeneous Investors and Portfolio Constraints
  Georgy Chabakauri
  The Paul Woolley Centre Paper Series No 30, 
  FMG Discussion Paper 707, July 2012 [see also Asset Pricing with Heterogeneous Preferences, Beliefs, and Portfolio Constraints, Journal of Monetary Economics  75, 21-34]
• Stock Market Tournaments
  Emre Ozdenoren, Kathy Yuan
  The Paul Woolley Centre Paper Series No 29,
  FMG Discussion Paper 706, July 2012 
• The Wall Street Walk when Blockholders Compete for Flows
  Amil Dasgupta, Giorgia Piacentin
  The Paul Woolley Centre Paper Series No 28,
  FMG Discussion Paper 692, October 2011
  [see also Dasgupta, A. and Piacentino, G. (2015), The Wall Street Walk when Blockholders Compete for Flows. The Journal Of Finance, 70 (6): 2853–2896. doi:10.1111/jofi.12308]
• Delegated Activism and Disclosure
  Amil Dasgupta, Konstantinos Zachariadis 
  The Paul Woolley Centre Paper Series No 27,
  FMG Discussion Paper 689, July 2011
• CDS Auctions
  Mikhail Chernov, Alexander S. Gorbenko, Igor Makarov
  The Paul Woolley Centre Paper Series No 26,
  FMG Discussion Paper 688, July 2011 [see also CDS auctions (2013), Review of Financial Studies, 26 (3)]
• Anticipated and Repeated Shocks in Liquid Markets
  Dong Lou, Hongjun Yan, Jinfan Zhang 
  The Paul Woolley Centre Paper Series No 25, 
  FMG Discussion Paper 684, June 2011 [see also Anticipated and anticipated shocks in liquid markets (2013), Review of Financial Studies, 26 (8)]
• Complicated Firms
  Lauren Cohen, Dong Lou 
  The Paul Woolley Centre Paper Series No 24, 
  FMG Discussion Paper 683, June 2011 [see also Complicated firms (2012), Journal of Financial Economics, 104 (2)]
• Dynamic Hedging in Incomplete Markets: A Simple Solution
  by Suleyman Basak, Georgy Chabakauri 
  The Paul Woolley Centre Paper Series No 23, 
  FMG Discussion Paper 680, May 2011 [see also Dynamic hedging in incomplete markets: a simple solution (2012), Review of Financial Studies, 25 (6)]
• Preferred-Habitat Investors and the US Term Structure of Real Rates
  by Iryna Kaminska, Dimitri Vayanos, Gabriele Zinna
  The Paul Woolley Centre Working Paper Series No 22,
  FMG Discussion Paper 674, March 2011
• Trading and Voting in Distressed Firms
  by Ioan F. Olaru & Konstantinos E. Zachariadis
  The Paul Woolley Centre Working Paper Series No 21,
  FMG Discussion Paper 672, February 2011 [see also The Impact of Security Trading on Corporate Restructurings, Review of Finance (2016) rfw019. doi: 10.1093/rof/rfw019] This is a revised version of Working Paper Series No 12, FMG Discussion Paper No 656
• Trading Frenzies and Their Impact on Real Investment
  by Itay Goldstein, Emre Ozdenoren & Kathy Yuan
  The Paul Woolley Centre Working Paper Series No 20,
  FMG Discussion Paper 670, February 2011 [see also Trading frenzies and their impact on real investment (2013), Journal of Financial Economics, 109 (2)]
• Bond Market Clienteles, the Yield Curve and the Optimal Maturity Structure of Government Debt
  by Stéphane Guibaud, Yves Nosbusch & Dimitri Vayanos
  The Paul Woolley Centre Working Paper Series No 19,
  FMG Discussion Paper 669, February 2011 [see also Bond market clienteles, the yield curve, and the optimal maturity structure of government debt (2013), Review of Financial Studies, 26 (8)]
• Fund Flows and Asset Prices: A Baseline Model
  by Dimitri Vayanos & Paul Woolley
  The Paul Woolley Centre Working Paper Series No 18,
  FMG Discussion Paper 667, January 2011 
  This is a revised version of Working Paper Series No 15, FMG Discussion Paper No 662
• An Institutional Theory of Momentum and Reversal
  by Dimitri Vayanos & Paul Woolley
  The Paul Woolley Centre Working Paper Series No 17,
  FMG Discussion Paper 666, January 2011
  This is a revised version of Working Paper Series No 2
  FMG Discussion Paper No 621 [see also An institutional theory of momentum and reversal (2013), Review of Financial Studies, 26 (5)] 
• Balance Sheet Capacity and Endogenous Risk*
  by Jon Danielsson, Hyun Song Shin & Jean-Pierre Zigrand
  The Paul Woolley Centre Working Paper Series No 16,
  FMG Discussion Paper 665, January 2011 
• Fund Flows and Asset Prices: A Baseline Model
  by Dimitri Vayanos and Paul Woolley
  The Paul Woolley Centre Working Paper Series No 15,
  FMG Discussion Paper 662, December 2010  
  This paper is no longer available, the revised version of this paper can be found above as Working Paper Series No 18 FMG Discussion Paper No 667, January 2011
• Institutional Trade Persistence and Long-term Equity Returns
  by Amis Dasgupta, Andrea Prat & Michela Verardo
  The Paul Woolley Centre Working Paper Series No 14,
  FMG Discussion Paper 661, November 2010
  [see also Institutional trade persistence and long-term equity returns (2011), The Journal of Finance, 66 (2)]
• Innovations, rents and risk
  by Bruno Biais, Jean-Charles Rochet & Paul Woolley
  The Paul Woolley Centre Working Paper Series No 13,
  FMG Discussion Paper 659, September 2010
  [see also Dynamics of Innovation and Risk (2015). Review of Financial Studies, 28 (5)]
• Trading and Voting in Distressed Firms
  by Ioan Olaru and Konstantinos Zachariadis
  The Paul Woolley Centre Working Paper Series No 12,
  FMG Discussion Paper 656, June 2010
  This paper is no longer available, the revised version of this
  paper can be found above as Working Paper Series No 21 FMG Discussion Paper No 672, February 2011
• The Price Impact of Institutional Herding
  by Amil Dasgupta, Andrea Prat and Michela Verardo
  The Paul Woolley Centre Working Paper Series No 11,
  FMG Discussion Paper 652, April 2010 [see also The Price Impact of Institutional Herding (2011), Review of Financial Studies, 24 (3)]
• Connected Stocks
  by Miguel Antón and Christopher Polk
  The Paul Woolley Centre Working Paper Series No 10,
  FMG Discussion Paper 651, March 2010 [see also Connected stocks (2014), The Journal of Finance, 69 (3)]
• Limits of Arbitrage: The State of the Theory
  by Denis Gromb, Dimitri Vayanos
  The Paul Woolley Centre Working Paper Series No 9,
  FMG Discussion Paper 650, March 2010
• Attracting Investor Attention through Advertising
  by Dong Lou
  The Paul Woolley Centre Working Paper Series No 8,
  FMG Discussion Paper 644, November 2009 [see also Attracting investor attention through advertising (2014), Review of Financial Studies, 27 (6)]
• A Flow-Based Explanation for Return Predictability
  by Dong Lou
  The Paul Woolley Centre Working Paper Series No 7,
  FMG Discussion Paper 643, November 2009 [see also A flow-based explanation for return predictability (2012), Review of Financial Studies, 25 (12)]
• A Preferred-Habitat Model of the Term Structure of Interest Rates
  by Dimitri Vayanos and Jean-Luc Vila
  The Paul Woolley Centre Working Paper Series No 6, FMG Discussion Paper 641, November 2009 
• Liquidity and Asset Prices: A Unified Framework
  by Dimitri Vayanos and Jiang Wang
  The Paul Woolley Centre Working Paper Series No 5,
  FMG Discussion Paper 639, August 2009
• Rents, learning and risk in the financial sector and other innovative industries
  by Bruno Biais, Jean-Charles Rochet & Paul Woolley
  The Paul Woolley Centre Working Paper Series No 4,
  FMG Discussion Paper 632, September 2009 
• The lifecycle of the financial sector and other speculative industries
  by Bruno Biais, Jean-Charles Rochet & Paul Woolley, April 2009. This paper is no longer available, the revised version of this paper can be found as Paul Woolley Centre Paper 4, FMG Discussion Paper 632
• Best Ideas
  by Randy Cohen, Christopher Polk & Bernhard Silli
  The Paul Woolley Centre Working Paper Series No 3,
  FMG Discussion Paper 624, January 2009
• An Institutional Theory of Momentum and Reversal
  by Dimitri Vayanos & Paul Woolley
  The Paul Woolley Centre Working Paper Series No 2,
  FMG Discussion Paper 621, November 2008 
  This paper is no longer available, the revised version of this paper can be found as Working Paper Series No 17, FMG Discussion Paper No 666, January 2011
• Bond Supply and Excess Bond Returns
  by Robin Greenwood & Dimitri Vayanos
  The Paul Woolley Centre Working Paper Series No 1,
  FMG Discussion Paper 607, April 2008 [see also Bond supply and excess bond returns (2014), Review of Financial Studies, 27 (6)]

Members of the Paul Woolley Centre occasionally contribute non-technical articles for websites and the mainstream press on issues of current public interest.

Why investors should be weaned off tight tracking to market indices
Paul Woolley and Dimitri Vayanos
December 2017

Curse of the Benchmarks
Dimitri Vayanos and Paul Woolley
March 2016

The Great Risk/Return Inversion - Who Loses Out?
Andrea Buffa, Dimitri Vayanos and Paul Woolley
September 2014

Ballooning Finance
VOX
21 August 2014

The Fallibility of the Efficient Market Theory: a new paradigm
CFA Institute Conference Proceedings Quarterly
22 April 2014

Chasing trends is a dangerous game 
Financial Times
16 October 2013

Momentum Investing is bad for your wealth 
Financial Times
12 July 2013

Long-term battle to expel short-term risk 
Financial Times
13 March 2013

Taming the finance monster.
Central Banking Journal
December 2012 Issue.

Investors must rediscover their patience.
Financial Times
16 August 2012

Investing for your own and the greater good.
Alliance Journal for foundations
June 2012 

New light on choice of investment strategy 
VOX
18 January 2012 

The Future of Finance: Chapter 3.
London School of Economics
July 2010

Rent Capture Through Financial Innovation. 
VOX
25 March 2010 

Capital Market Theory after the Efficient Market Hypothesis. 
VOX
5 October 2009